{"id":30758,"date":"2022-05-31T17:20:03","date_gmt":"2022-05-31T17:20:03","guid":{"rendered":"https:\/\/harchi90.com\/stocks-claw-back-as-volatile-trading-continues\/"},"modified":"2022-05-31T17:20:03","modified_gmt":"2022-05-31T17:20:03","slug":"stocks-claw-back-as-volatile-trading-continues","status":"publish","type":"post","link":"https:\/\/harchi90.com\/stocks-claw-back-as-volatile-trading-continues\/","title":{"rendered":"Stocks claw back as volatile trading continues"},"content":{"rendered":"<div>\n<p>US stocks pared losses Tuesday, extending a streak of volatile trading after last week&#8217;s bounce snapped the longest span of declines for the S&#038;P 500 in over 20 years.<\/p>\n<p>The benchmark index bounced back from a drop of more than 1% to turn flat, attempting to build on its best week since November 2020. The Dow Jones Industrial Average was down 0.2% after climbing back from a nearly 400-point drop, and the Nasdaq Composite turned positive, up 0.3%.<\/p>\n<p>These moves come after all three indexes logged weekly gains of more than 6%, clawing back from seven consecutive losing weeks for the S&#038;P 500 and Nasdaq and eight weeks of losses for the Dow.<\/p>\n<p>Bitcoin (BTC-USD) and Ethereum (ETH-USD) also rose Tuesday amid a broader relief rally in cryptocurrencies.<\/p>\n<p>Meanwhile, oil futures charged higher amid reports Chinese authorities were poised to end a two-month COVID-19 lockdown in Shanghai and an agreement by EU leaders to stop purchases of crude oil and petroleum products from Russia.  WTI crude oil futures climbed 3.6% to $ 118.70, while Brent crude oil futures rose 3.7% to $ 123.83.<\/p>\n<p>Shares of movie theater giant AMC (AMC) jumped as much as 10% in early trading following the debut of TOP GUN during Memorial Day weekend.  US theaters saw an estimated 122% year-over-year increase from last year&#8217;s holiday weekend, AMC said in a statement Tuesday, underscoring positive signs of a post-COVID recovery for the industry.  The pre-market moves place AMC shares on pace for a fourth straight day of gains after the stock surged nearly 40% in the past three sessions.<\/p>\n<p>Wall Street&#8217;s latest rally comes on the heels of a favorable batch of quarterly earnings in recent trading sessions which helped temporarily mitigate concerns over the toll of inflation on corporate profits.  Signs from recent economic data that prices were peaking also helped buoy sentiment.<\/p>\n<p>Still, stocks are sharply down for the year, and some strategists have been skeptical about whether a bottom has been established.<\/p>\n<p><button class=\"link caas-button collapse-button\" aria-label=\"\" title=\"\" data-ylk=\"elm:readmore;slk:Story continues\">Story continues<\/button><\/p>\n<p>\u201cLast week&#8217;s strength will prove to be another bear market rally in the end,\u201d Morgan Stanley CIO Michael Wilson said in a note to clients.<\/p>\n<p>Despite recovering some losses, stocks have had a volatile month, wrought by concerns over decades-high inflation and fears the Federal Reserve&#8217;s efforts to rein in surging prices by raising interest rates may tip the economy into a recession.<\/p>\n<p>&#8220;The primary rationale ascribed to this particular rally beyond just an oversold bounce is that the Fed may be contemplating a pause in September,&#8221; Wilson wrote, adding that &#8220;inflation remains too high for the Fed&#8217;s liking and so whatever pivot investors might be hoping for will be too immaterial to change the downtrend in equity prices. &#8220;<\/p>\n<p>This week, investors are expected to take their cue from a flurry of key employment data, including the all-important May jobs report due out Friday.<\/p>\n<p>Earnings season has wound down, but more reports from companies including Salesforce.com (CRM), GameStop (GME) Chewy (CHWY), and HP (HPQ) remain in the queue through Friday.<\/p>\n<p>&#8211;<\/p>\n<h2>10:10: am ET: Economic data comes in &#8220;better than feared&#8221; on Tuesday<\/h2>\n<p>The holiday-shortened week is data-heavy for investors, and early indications from May show some &#8220;better than feared&#8221; reports coming in as anxiety around recession has risen in recent weeks.<\/p>\n<p>The MNI-Chicago PMI reading came in at 60.3 for May, better than the 55 that was expected.  Any reading over 50 for this report indicates economic expansion.<\/p>\n<p>The Conference Board&#8217;s latest check on consumer confidence also topped expectations, hitting 106.4 for May against forecasts for a reading of 103.5.  And though this May reading is down from April&#8217;s level, the report showed, &#8220;views of current business conditions \u2014 which tend to move ahead of trends in jobs \u2014 improved. Overall, the Present Situation Index remains at strong levels, suggesting growth did not contract further in Q2. &#8220;<\/p>\n<p>And with <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/lisaabramowicz1\/status\/1531561634522619905\" target=\"_blank\" data-ylk=\"slk:folks noting earlier today\" class=\"link \">folks noting earlier today<\/a> Citi&#8217;s economic surprise index falling to its lowest levels since September 2021, these reports hit the tape just in time.<\/p>\n<p><em>\u2014Myles Udland, senior markets editor<\/em><\/p>\n<p>&#8211;<\/p>\n<h2>9:30 am ET: Stocks slip as Wall Street struggles to sustain momentum<\/h2>\n<p>Here&#8217;s where the major indexes traded at the start of Tuesday&#8217;s session:<\/p>\n<ul class=\"caas-list caas-list-bullet\">\n<li>\n<p><strong>S&#038;P 500 (<\/strong><strong>^ GSPC<\/strong><strong>)<\/strong>: -14.99 (-0.36%) to 4,143.25<\/p>\n<\/li>\n<li>\n<p><strong>Dow (<\/strong><strong>^ DJI<\/strong><strong>)<\/strong>: -205.49 (-0.62%) to 33,007.47<\/p>\n<\/li>\n<li>\n<p><strong>Nasdaq (<\/strong><strong>^ IXIC<\/strong><strong>)<\/strong>: +390.43 (+ 3.33%) to 12,131.13<\/p>\n<\/li>\n<li>\n<p><strong>Raw (<\/strong><strong>CL = F<\/strong><strong>)<\/strong>: + $ 3.85 (+ 3.35%) to $ 118.92 a barrel<\/p>\n<\/li>\n<li>\n<p><strong>Gold (<\/strong><strong>GC = F<\/strong><strong>)<\/strong>: &#8211; $ 3.00 (-0.16%) to $ 1,854.30 per ounce<\/p>\n<\/li>\n<li>\n<p><strong>10-year Treasury (<\/strong><strong>^ TNX<\/strong><strong>)<\/strong>: +9.9 bps to yield 2.8420%<\/p>\n<\/li>\n<\/ul>\n<p>&#8211;<\/p>\n<h2>7:14 am ET: Futures slip after recovery rally caps weeks-long losing streak for stocks<\/h2>\n<p>Here were the main moves in early trading Tuesday to start the holiday-shortened week:<\/p>\n<ul class=\"caas-list caas-list-bullet\">\n<li>\n<p><strong>S&#038;P 500 futures (<\/strong><strong>ES = F<\/strong><strong>)<\/strong>: -15.05 (-0.36%) to 4,140.75<\/p>\n<\/li>\n<li>\n<p><strong>Dow futures (<\/strong><strong>YM = F<\/strong><strong>)<\/strong>: -130.00 (-0.39%) to 33,028.00<\/p>\n<\/li>\n<li>\n<p><strong>Nasdaq futures (<\/strong><strong>NQ = F<\/strong><strong>):<\/strong> -3.00 (-0.02%) to 12,674.75<\/p>\n<\/li>\n<li>\n<p><strong>Raw (<\/strong><strong>CL = F<\/strong><strong>)<\/strong>: + $ 3.63 (+ 3.15%) to $ 118.70<\/p>\n<\/li>\n<li>\n<p><strong>Gold (<\/strong><strong>GC = F<\/strong><strong>)<\/strong>: &#8211; $ 5.60 (-0.03%) to $ 1,851.70 per ounce<\/p>\n<\/li>\n<li>\n<p><strong>10-year Treasury (<\/strong><strong>^ TNX<\/strong><strong>)<\/strong>: -1.3 bps to yield 2.7430%<\/p>\n<\/li>\n<\/ul>\n<figure class=\"caas-figure\">\n<div style=\"\">\n<div>\n<div class=\"caas-img-container caas-img-loader noheight\"><noscript><img alt=\"A person walks through the Wall Street subway station near the New York Stock Exchange (NYSE) in New York on May 27, 2022. (Photo by Angela Weiss \/ AFP) (Photo by ANGELA WEISS \/ AFP via Getty Images)\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/ioCTy6tgpbMZFOntX6DaWA--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MA--\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2022-05\/990b6510-e0c6-11ec-9edb-7de21c8d7843\" class=\"caas-img\"\/><\/noscript><\/div>\n<\/div>\n<\/div>\n<p><figcaption class=\"caption-collapse\">A person walks through the Wall Street subway station near the New York Stock Exchange (NYSE) in New York on May 27, 2022. (Photo by Angela Weiss \/ AFP) (Photo by ANGELA WEISS \/ AFP via Getty Images)<\/figcaption><\/p>\n<\/figure>\n<p>&#8211;<\/p>\n<p><strong><em>Alexandra Semenova is a reporter for Yahoo Finance.  Follow her on Twitter <\/em><\/strong><a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/alexandraandnyc\" target=\"_blank\" data-ylk=\"slk:@alexandraandnyc\" class=\"link \"><strong><em>@alexandraandnyc<\/em><\/strong><\/a><\/p>\n<p><strong>Read the latest financial and business news from Yahoo Finance<\/strong><\/p>\n<p><strong><em>Follow Yahoo Finance on <\/em><\/strong><a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/YahooFinance\" target=\"_blank\" data-ylk=\"slk:Twitter\" class=\"link \"><strong><em>Twitter<\/em><\/strong><\/a><strong><em>, <\/em><\/strong><strong><em>Instagram<\/em><\/strong><strong><em>, <\/em><\/strong><strong><em>YouTube<\/em><\/strong><strong><em>, <\/em><\/strong><strong><em>Facebook<\/em><\/strong><strong><em>, <\/em><\/strong><strong><em>Flipboard<\/em><\/strong><strong><em>and <\/em><\/strong><strong><em>LinkedIn<\/em><\/strong><\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><script async defer src=\"https:\/\/platform.instagram.com\/en_US\/embeds.js\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>US stocks pared losses Tuesday, extending a streak of volatile trading after last week&#8217;s bounce snapped the longest span of declines for the S&#038;P 500 in over 20 years. The benchmark index bounced back from a drop of more than 1% to turn flat, attempting to build on its best week since November 2020. The &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/harchi90.com\/stocks-claw-back-as-volatile-trading-continues\/\"> <span class=\"screen-reader-text\">Stocks claw back as volatile trading continues<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":30759,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[8],"tags":[],"jetpack_featured_media_url":"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/jt37Db4fjWeC7x3zonBaRQ--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2022-05\/414b2940-e090-11ec-abb7-31c5d8d761e7","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/jt37Db4fjWeC7x3zonBaRQ--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2022-05\/414b2940-e090-11ec-abb7-31c5d8d761e7","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/30758"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=30758"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/30758\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media\/30759"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=30758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=30758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=30758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}