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S&P 500 (^GSPC)
| Previous close | 5,123.41 |
| Open | 5,149.67 |
| Volume |
| Day's range | 5,052.47 - 5,168.43 |
| 52-week range | 4,048.28 - 5,264.85 |
| Avg. volume | 4,084,017,580 |
- Yahoo Finance Video
Market pullback is 'buyable dip': Strategist on Mideast risk
US equities (^GSPC, ^DJI, ^IXIC) are sliding in Monday's trading session as markets are in wait-and-see on potential escalations in Middle Eastern conflicts. Conversations across Wall Street have begun to spring up about what the potential fallout could look like from Iran's strikes on Israel. Freedom Capital Markets Global Strategist Jay Woods and Bullseye American Ingenuity Fund Portfolio Manager Adam Johnson join Market Domination to discuss the rising tensions in the Middle East, the potential fallout, and what investors need to keep in mind moving forward. Johnson states what he tells his clients for times like these: "This is not what drives markets... It almost sounds callous for me to just make that my volley right off the bat. But if you go back and look at the 20 or 25 different events, geopolitical events, that involved hostilities — Gulf War one, Gulf War two, the bombing of the USS Cole, the World Trade Center, on and on — you look at these events and typically what has happened, is that you get a 7% or 8% selloff in the first five days. There's a bottoming, and then ten days later the markets are exactly where they were." Woods speaks on the pullback seen in in the markets: "I think we could drop a little further, but I think it's a buyable dip. We've seen strong earnings. The financials came out with great earnings. JPMorgan (JPM) earnings were nothing to sneeze at. I know Jamie Dimon is [typically] little skittish with his outlook, geopolitical headwinds. Goldman Sachs (GS) knocked it out of the part... We've come so far so fast, I don't see that next catalyst outside of individual pockets of earnings to take the market higher and now with the rising yields again going towards 5%, I don't think we get there..." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino
Yahoo FinanceStock market today: S&P 500 falls back under 5,100 as Big Tech leads stock slide
Worries over the fallout from Iran's attack on Israel eased, allowing focus to return to earnings season and inflation risks to rate-cut hopes.
- Yahoo Finance Video
Goldman Sachs stock 'a clear winner' in current market: Analyst
Goldman Sachs (GS) reported first quarter earnings, beating analyst expectations on both the top and bottom lines. UBS's US Brokers and Asset Managers Analyst Brennan Hawken joins Yahoo Finance to discuss why Goldman Sachs stock "makes a ton of sense" for investors. Hawken notes that capital markets recovery has contributed to the upside seen in Goldman Sachs' stock performance. Additionally, the successful sale of GreenSky and the bank's exit from the consumer business have helped drive "better-than-expected" results. The analyst observes that the first quarter is "typically a seasonally strong quarter for investment banking." While cautioning that Goldman Sachs' earnings shouldn't be viewed as a straightforward trend, Hawken acknowledges that the results have demonstrated "they've repositioned this franchise in order to drive earnings." Addressing the market volatility stemming from Federal Reserve rate cut uncertainty, Hawken states that "volatility drives volume," which is "a good thing" for trading businesses like Goldman Sachs — calling the bank "a clear winner in this environment." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance. This post was written by Angel Smith
