E-Mini S&P 500 Jun 24 (ES=F)
| Pre. Settlement | N/A |
| Settlement date | 2024-06-21 |
| Open | 5,101.25 |
| Bid | 5,095.00 |
| Last price | 5,104.00 |
| Day's range | 5,081.25 - 5,120.25 |
| Volume | |
| Ask | 5,095.25 |
- Yahoo Finance Video
Investors brace for volatility as hot CPI fuels sell-off
The hotter-than-expected March Consumer Price Index (CPI) report has triggered a broad market sell-off, with stock futures feeling the most pressure. Edward Jones CEO Penny Pennington joins Yahoo Finance Live to discuss market outlooks and investment strategies. Pennington explains that the CPI inflation print has raised investor concerns about the prospect of "higher interest rates for a little bit longer." She notes that the overall persistent inflation has significantly impacted how individuals are "spending and investing." According to Pennington, the current market conditions have been "quite frothy," and she expects continued volatility ahead. The sources of this volatility range from the inflation data to the "election environment for the rest of the year." However, Pennington believes there is still room for market returns, as the "goodness in the stock market" is starting to broaden out. To help investors navigate these turbulent times, Pennington suggests seeking the guidance of a financial advisor. This, she says, can help curb the impulse to make decisions driven by "FOMO or YOLO." Importantly, Pennington emphasizes that investors should focus on their "own benchmarks as it relates to [their] goals," rather than solely relying on market indexes. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Editor's note: This article was written by Angel Smith
- Yahoo Finance Video
Why this strategist wants the Fed to move slower
The Consumer Price Index (CPI) report has shaken markets, with the March reading coming in hotter-than-expected at 3.8% versus the estimated 3.7%. This has sent stock futures (NQ=F, YM=F, ES=F) falling as investors grapple with the implications for Federal Reserve monetary policy. Wells Fargo Head of Equity Strategy Chris Harvey joins the Morning Brief to discuss his outlook. Despite futures declining on the back of the CPI print, Harvey believes the Fed will take a more gradual approach to rate cuts, which he sees as a positive. In his assessment, "the market is a momentum growth large-cap market" that can only move higher from here, supporting his decision to raise his S&P 500 (^GSPC) target. Harvey notes that this report solidifies the expectation of the Fed embarking on a "multiyear easing cycle." While he acknowledges that "the economy is better-than-expected, but it's not very strong," Harvey advises investors to maintain a "balanced approach" to their portfolios, adding both growth stocks and defensive positions "for days like today." Looking ahead, Harvey suggests that with earnings season underway, there could be a slight upside in the market, but he cautions investors not to "expect fireworks" anytime soon, given the volatility he anticipates. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Editor's note: This article was written by Angel Smith
Yahoo Finance UKStocks in the red as investors pare bets on rate cuts
The FTSE fell as investors await key US inflation data released on Wednesday.
