Can markets make a comeback? That depends on tech earnings
CNN
Markets have had a rough go of things this month, but don’t count them out just yet. Monday’s bounceback, buoyed by a strong start to earnings season, could mark a sea change for investors.
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. Markets have had a rough time this month, but don’t count them out just yet. Monday’s bounceback, buoyed by a strong start to earnings season, could mark a sea change for investors. What’s happening: US stocks slid from recent highs last week as inflation proved sticky and heightened geopolitical tensions drove major indexes to their longest slump in 18 months. The S&P 500 and Nasdaq dropped six days in a row, the longest downswing since October 2022. The Nasdaq tumbled 2.1% on Friday as tech stocks plunged, marking its worst day since January 31. “We’ve expected inflation would be on a rollercoaster,” wrote analysts at BlackRock in a note on Monday. “Further escalation of Middle East tensions could see oil prices staying elevated, reinforcing higher inflation and higher-for-longer interest rates.”
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