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.”
Earlier this year, an 18-year-old high school senior from New York City had planned to enroll at Columbia University’s sister school Barnard College in Manhattan as an early decision student. But after her parents saw heightened tensions over the Israel-Gaza conflict surface across some US campuses, including at Barnard and Columbia, they went back to her list.