Bank of America: Technology stocks are only one "terrible non-farm report" away from collapsing.
Since the historical high point on July 10th, the market cap of companies in the Nasdaq 100 index has evaporated $2.6 trillion. Analyst Michael Hartnett of Bank of America believes that signs of an economic slowdown will put further pressure on technology stocks, but remains optimistic on the bond market for the second half of the year.
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BCA: US stocks 'will soon reach their peak, and the bear market will begin,' global investors should increase their allocation to government bonds.
BCA analyst suggests that the US stock market is likely to soon peak and a bear market will begin. Global asset allocators should increase their allocation to government bonds rather than stocks. A significant allocation to US dollar cash is also reasonable.
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Nvidia, Alphabet, Microsoft, Drag S&P, Nasdaq Lower | Wall Street Today
EthiCapitalist : PCE ticked up, so probably not well.
MonkeyGee : oh man, I see alot of people are going to be in alot pain over the weekend.