RBC upgrades this packaged foods stock, sees rebound from year-to-date losses
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Business Upturn
3 minutes ago
- Business Upturn
Dow Jones futures fall as weekly jobless claims jump to 235,000
By Aditya Bhagchandani Published on August 21, 2025, 18:55 IST Futures tied to the Dow Jones Industrial Average and other major U.S. indexes traded lower on Thursday as investors reacted to a surprise jump in weekly unemployment claims. The Labor Department reported jobless claims rose to 235,000, against estimates of 224,000, while continuing claims stood at 1.972 million, also above forecasts. Ahead of the opening bell, Dow futures slipped 0.4%, with S&P 500 futures down 0.4% and Nasdaq 100 futures also lower by 0.4%. Treasury yields edged higher, with the 10-year yield at 4.3%. Oil prices gained, with West Texas Intermediate trading near $63 a barrel. In premarket action, Walmart shares declined sharply after the retail giant missed earnings estimates, dragging sentiment across the broader retail space. Among major exchange-traded funds, the Invesco QQQ Trust was down 0.5% and the SPDR S&P 500 ETF dropped 0.4%. Within the Dow, 3M slipped 1%, holding above its 50-day moving average. Amazon declined 0.6%, on track for a third consecutive loss, while Nvidia dropped 0.7%, extending recent weakness. On the upside, Boeing rallied 2% following a Bloomberg report that the company is close to finalizing a deal with China to supply up to 500 aircraft. Adding to the cautious mood, the Philadelphia Fed Manufacturing Index turned negative in August at -0.3, compared with expectations of 8.0, after July's reading of 15.9. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Insider
3 minutes ago
- Business Insider
Billionaire investor Howard Marks warns investors are making one big mistake in today's market
In Howard Marks ' view, investors today are doing one thing wrong: assuming the market won't or can't change. The billionaire co-chairman of Oaktree Capital said he believes the US stock market is in the early stages of a bubble. That means investors today could be falsely assuming their strategy in recent years — which involves being heavily invested in equities and concentrated in just a few areas of the market — will continue to work going forward, he said, speaking to Bloomberg on Wednesday. "The single biggest mistake — I've been thinking a lot, what is the biggest single mistake investors make — and I've concluded that it is that they conclude that the way things are today is the way it'll always be, and the things that have been happening will continue to happen. Whereas reversion to the mean is much more likely," Marks said. While Marks said he didn't believe a correction or bubble burst will happen soon, he identified a handful of things that he finds worrying about today's market. There hasn't been a serious market correction in about 16 years. Stocks entered a bear market in 2022 and have also weathered tough periods surrounding events like President Donald Trump's tariffs announcement and the COVID-19 pandemic. That doesn't compare, though, to the sell-off sparked by the Great Financial Crisis, when the market plunged more than 50% and took years to fully recover. Valuations are high. Marks said he wasn't concerned about the Magnificent Seven stocks. That's partly because earnings among most of those firms are still strong, which could mean they're fairly valued. The problem lies in the other 493 stocks in the S&P 500, he said, which are also highly valued despite not producing the same results. "It's the fact that high valuations are being applied to more average companies, that I think is more alarming than exceptional valuations being applied to exceptional companies," he said. Investors are extremely bullish. The last time the investing environment has looked this optimistic was around 1997, Marks estimated, in the years leading up to the dot-com bubble. "People go from neutrality to liking stocks, to liking them a lot, to liking them a ton, to liking them too much. And that's the continuation that creates bubbles, and we're probably in the early days of that," he said. Marks said he believed it was the right time for investors to become defensive in their positioning. His own firm has been snapping up more credit, he said, an asset class he called inherently more defensive than equities. "I'm not raising an alarm bell, but I do think it's time for some caution," he added. With stocks hovering near all-time highs, more forecasters on Wall Street have been eyeing the risk that the market could be mired in a bubble. In a recent note, Bank of America strategists said they believed the high price-to-book ratio of the S&P 500 could be indicative of a market bubble. According to other valuation metrics, stocks now look more expensive than they were at their peak in the early 2000s, John Hussman, the famed bear who called the 2000 and 2008 crashes, wrote in a recent note.
CNBC
3 minutes ago
- CNBC
Mom-and-pop traders are dumping tech
Retail traders are doing something they haven't done since June: selling tech stocks. Data complied by JPMorgan strategists showed mom-and-pop investors were net sellers of tech to the tune of about $140 million over the past week. That breaks a two-month long daily buying streak in which retail traders on average bought more than $1 billion per day. The turnaround in retail activity coincides with tech's recent struggles. Megacap tech giants such as Nvidia , Microsoft , Meta Platforms , Alphabet and Amazon are all down this week. Palantir Technologies , once a retail favorite, has plunged over 13% in that time. Those declines have put pressure on the broader market indexes this week, with the S & P 500 down 0.8%, while the Nasdaq Composite has shed 2.1% in that time. .IXIC 5D mountain Nasdaq 5-day chart "Investors have benefited greatly from the impressive performance of the tech sector, not only so far in 2025, but also over the past several years," wrote Tom Essaye of The Sevens Report. "But these gains have also stretched the bounds of what most investors would call reasonable valuations in the tech space and recently we've seen certain AI-darling stocks trade at extreme valuations." "The most obvious example of this is Palantir (PLTR), a stock that is the best performer in the S & P 500 YTD but also trades at a quasi-absurd 212X forward earnings," he said. To be sure, retail traders aren't completely exiting the stock market. "They prioritized profit taking in single stocks … while buying the dip in broad-based market ETFs," JPMorgan wrote. Overall, the cohort net purchased around $5 billion in ETFs in the past week while selling $489 million in single stocks. Perhaps this shuffle out of single stocks and into ETFs is fueling another trend seen this week: a rotation into other parts of the market. The iShares Russell 1000 Value ETF (IWD) is up 0.4% this week, while its growth counterpart — the IWF — is down nearly 2%.
