S&P 500 and Nasdaq slip, continuing sluggish August trading: Live updates
— Hakyung Kim, Gina FrancollaTraders at JPMorgan see a 40% chance of the market pulling back before resuming its upward trend from this year. That's up from a 35% probability.
"This remains the US Market Intel view. The question is whether last week constituted the pullback. I would think not but this was also what I thought when I wroteon June 20," the traders said. "The reasons cited were less rosy macro data; the continuation of the tightening cycle; earnings outlook; and lack of incremental buyers."
"With bottom's-up earnings estimated higher in the medium term and buyback poised to turn back on, bullets and would be the key similarities with the addition of positioning," they said.The Russian ruble fell to its lowest level in about 17 months against the U.S. dollar, with President Vladimir Putin's economic"A weak ruble complicates the restructuring of the economy and negatively affects the real incomes of the population.
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