YAHOO FINANCE CHARTBOOK 32 charts that explain markets and the economy right now DJI - Delayed Quote • BHD Dow Jones Bahrain Total Return (^DJBHT) Follow 198.18 0.00 (0.00%) As of November 6 at 12:56 PM EST. Market Open. Related News Stock market news today: Nasdaq sinks over 3% as Tesla, Alphabet triggered tech sell-off Disappointing Alphabet and Tesla earnings have stirred up worries that Big Tech's power to fuel stock market gains is fading. Mag 7 must perform 'incredibly well' to justify valuations The Nasdaq Composite (^IXIC) is facing downward pressure Wednesday morning following earnings data out from two Magnificent Seven members: EV maker Tesla (TSLA) and Google parent company Alphabet (GOOGL, GOOG). The Morning Wealth welcomes Commonwealth Financial Network CIO Brad McMillan to talk about his outlook on the upcoming results from the remaining Magnificent Seven stocks and whether Tesla and Alphabet's results are weighing on investor confidence. McMillan points to "a threat of more pressure" ahead for the Magnificent Seven. He cites high valuations based on earnings growth as a key concern. "If you don't see that earnings growth, and clearly we didn't see that with either of those two companies, that means that valuation has to come into question," McMillan tells Yahoo Finance. He notes that with the gap between the Magnificent Seven and the rest of the S&P 500 — commonly referred to as the 493 — being "extremely large," these tech giants are tasked with performing "incredibly well." Regarding concerns about a potential consumer pullback affecting earnings, McMillan remains optimistic. He emphasizes that the consumer is healthy, citing robust job market conditions and continued wage growth. "The actual purchasing power of the average worker continues to grow in a very, very healthy way," he states, indicating he is not worried about a decline in consumer spending. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith Big Tech earnings won't be make or break for the stock market: Morning Brief For all the hand-wringing about the concentration of outsized gains in the hands of a magnificent few, stock bulls have two reasons to cheer as earnings season intensifies. Small caps on the rise, commodities pressured: Market Trends Small-cap stocks (^RUT) are on the rise again after ending its five-day winning streak last week. This growth comes amid a number of Big Tech earnings, which have been the main market drivers so far this year. Meanwhile, commodities are under pressure as copper (HG=F) and crude oil prices (CL=F, BZ=F) continue to slip. Jared Blikre joins Asking for a Trend to break down some of the major takeaways from the trading day. For more expert insight and the latest market action, click here to watch this full episode of Asking For A Trend. This post was written by Melanie Riehl Investors 'looking for cracks' in earnings: Portfolio manager Penn Mutual Asset Management portfolio manager George Cipolloni joins Market Domination to break down the second quarter earnings season and market performance ahead of the 2024 election. "We have already seen a kind of mixed earnings outlook so far. Now obviously, more companies have beat than missed, but the big thing is that expectations are really high now," Cipolloni states. As earnings growth has been largely concentrated in the tech sector, he says, "I have to give them all the credit in the world. They have delivered on earnings growth, and they're going to have to keep doing that given where valuations are." Cipolloni explains that high interest rates have "punished" small caps, since they have a more variable rate debt than large caps do. When the Federal Reserve begins cutting rates, he believes sectors like financials will perform better. As the 2024 election heats up, former President Donald Trump will likely push for interest rate cuts, which could benefit some stocks. On the other hand, his aggressive tariff policy could be inflationary. As uncertainty about the November election mounts, Cipolloni encourages investors to "understand policy" to make strong investment decisions: "If you look at the yield curve for example... the shift in the yield curve has been amazing just in the last few weeks." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Melanie Riehl Why Lamb Weston Stock Tanked Today Profits are dropping as sales stall. Tesla, Alphabet Sell-Off Weighs on Nasdaq Intraday Tesla, Alphabet Sell-Off Weighs on Nasdaq Intraday Dow Jones Holds Up Best In Sell-Off Sparked By Tesla, Google; Microsoft Violates This Level (Live Coverage) The major indexes sold off hard on Wednesday with the Nasdaq the biggest loser. Microsoft joined the sell-off. Magnificent Seven Stocks Get Hit. Tesla Tumbles While Apple Keeps Crown From Microsoft, Nvidia. What are the Magnificent Seven stocks? How much market cap weighting do AAPL, MSFT, GOOGL, AMZN, META, TSLA and NVDA have on the Nasdaq? Reeves to ‘kitchen sink’ bad news to justify tax rises of up to £25bn, says ex-Bank official Rachel Reeves could use her review of the state of Britain’s public finances to raise taxes by up to £25bn, according to a former Bank of England policymaker. Nasdaq Losses Intensify. How Today’s Performance Stacks Up. The Nasdaq Composite’s losses accelerated in afternoon trading, with the tech-heavy index down 3.04% at one point. That would make it the worst day for the index since December 2022, when it fell 3.2%. What Lies Ahead of REIT ETFs This Earnings Season? As earnings reports unfold, market watchers may witness indications of sustained recovery and growth potential within the real estate and REIT sectors. Nasdaq Composite Sinks 500 Points After Tesla, Alphabet's Results Undermine Risk Sentiment Nasdaq Composite Sinks 500 Points After Tesla, Alphabet's Results Undermine Risk Sentiment Surging Earnings Estimates Signal Upside for Meritage Hospitality Group (MHGU) Stock Meritage Hospitality Group (MHGU) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions. Nasdaq tracks for worst day since 2022 after Alphabet and Tesla fail to impress Wall Street Shares of tech companies slid Wednesday after lackluster earnings reports from two of the market’s most prominent heavyweights. European Equities Close Lower in Wednesday Trading; Deutsche Bank Reports First Quarterly Loss in Four Years European Equities Close Lower in Wednesday Trading; Deutsche Bank Reports First Quarterly Loss in Four Years 3 Gas Distribution Stocks to Buy From a Flourishing Industry A likely increase in natural gas export volumes and regular investment in pipelines are driving the Zacks Gas Distribution industry's near-term prospects. Utilities with stable infrastructure like ATO, NFG, and NJR are well-poised to gain. Why the Smallest Stocks Aren't Getting a Boost From Today's Tech Selloff The Russell 2000 was falling on Wednesday, potentially indicating a pause in the early stages of a shift from megacaps to small-caps. The index was down 0.4% shortly before noon. It's key to put the decline in context. Nasdaq Falls Sharply as Tech Stocks Get Punished The Nasdaq Composite, the index representing the biggest tech companies, nosedived Wednesday. The index was down 2.6%, its worst performance since July 17 when it fell 2.77%. The index is down 5 of the last 6 trading days, having fallen more than 5% over that span. 3 Airline Stocks to Monitor Closely Despite Industry Headwinds High costs and plane delivery delays do not bode well for the Zacks Transportation -Airline industry. However, stocks like CPA, SKYW and JBLU appear well-poised to beat the industry challenges.
