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Momentum stocks that helped drive the market's epic recovery are stalling. Get ready for a ‘buyable' pullback.
Momentum stocks that helped drive the market's epic recovery are stalling. Get ready for a ‘buyable' pullback.

Yahoo

time14-06-2025

  • Business
  • Yahoo

Momentum stocks that helped drive the market's epic recovery are stalling. Get ready for a ‘buyable' pullback.

After helping to power the U.S. stock market's historic recovery from April's tariff-induced selloff, many of the momentum names popular with individual investors are showing signs of exhaustion. That means investors should approach with caution over the coming weeks. Because another opportunity to buy the dip might lie ahead, according to Jonathan Krinsky, a technical analyst at BTIG. My husband is in hospice care. Friends say his children are lining up for his money. What can I do? These defense stocks offer the best growth prospects, as the Israel-Iran conflict fuels new interest in the sector Walmart's stock looks like it's in trouble. What the chart says may come next. Why bonds aren't acting like a safe haven for investors amid the Israel-Iran conflict My mother-in-law thought the world's richest man needed Apple gift cards. How on Earth could she fall for this scam? 'While it's still too early to say we are getting a more widespread pullback, we are starting to see some early cracks in certain high-beta momentum names today, with many leadership stocks working on potential downside reversals,' Krinsky said in commentary shared with MarketWatch on Thursday. As Krinsky pointed out, Goldman Sachs Group's long-only basket of high-beta momentum stocks appears to have stalled out just shy of its year-to-date peak from February. He identified seven momentum stocks that look particularly vulnerable: GE Aerospace GE, Robinhood Markets Inc., HOOD Lemonade Inc. LMND, Netflix Inc. NFLX, Tesla Inc. TSLA, Twilio Inc. TWLO and Upstart Holdings Inc. UPST. To be sure, only three of these stocks — GE, Tesla and Netflix — are components of the S&P 500. Even if they encounter some near-term turbulence, all of those stocks remain in strong uptrends, Krinsky said. That means any pullbacks would likely prove to be another 'buyable' opportunity. 'To be clear, most of these are in strong primary uptrends, so pullbacks are ultimately buyable,' Krinsky said. 'Tactically, however, we would be cautious of many of these names over the next couple of weeks, especially heading into quarter-end, when big rebalances often take place.' Since skittering to the brink of bear-market territory in early April after President Donald Trump unveiled his 'liberation day' tariff plans, the S&P 500 SPX has staged what could ultimately prove to be its fastest-ever recovery back toward record highs, according to Dow Jones Market Data. The speed of the move has taken many on Wall Street by surprise. By the time Trump announced a 90-day pause on many of the tariffs on April 9, the index had fallen by 18.9% from its February record high to its closing low on April 8. Since then, all seven of the momentum stocks cited by Krinsky have tallied huge gains, with Robinhood up more than 115%, while Lemonade has gained nearly 70%. Even Netflix, the worst performer in the group, has risen by roughly 40%, FactSet data showed. The S&P 500, meanwhile, has risen by 21.3%. Data from several Wall Street banks show retail investors helped power the market's recovery in April, while their professional peers remained much more cautious. The index was still about 1.7 percentage points shy of its Feb. 19 record as of Thursday's close, although it tallied its highest finish since Feb. 20, according to Dow Jones data. U.S. stocks finished higher on Thursday, with the S&P 500, Nasdaq Composite COMP and Dow Jones Industrial Average DJIA all closing in the green. 'He failed in his fiduciary duty': My brother liquidated our mother's 401(k) for her nursing home. He claimed the rest. Gundlach says gold is no longer for lunatics as the bond king says wait to buy the 30-year 'I am getting very frustrated': My mother's adviser has not returned my calls. He manages $1 million. Is this normal? I'm in my 80s and have 2 kids. How do I choose between them to be my executor? 'It might be another Apple or Microsoft': My wife invested $100K in one stock and it exploded 1,500%. Do we sell?

Dollar Hits Multiyear Lows
Dollar Hits Multiyear Lows

Wall Street Journal

time12-06-2025

  • Business
  • Wall Street Journal

Dollar Hits Multiyear Lows

The dollar sank to its weakest level in years, losing ground against the euro, Japanese yen and other currencies. The WSJ Dollar Index traded as low as 94.48, the lowest intraday level since July 2023, according to Dow Jones Market Data. That gauge and the U.S. Dollar Index were recently both on pace to settle at their lowest levels in years. The euro surged above $1.16, and was on course for its strongest end-of-day level since October 2021.

Risky stocks and safe-haven gold are both aiming for records. Who will blink first?
Risky stocks and safe-haven gold are both aiming for records. Who will blink first?

Yahoo

time11-06-2025

  • Business
  • Yahoo

Risky stocks and safe-haven gold are both aiming for records. Who will blink first?

The S&P 500 and gold are both within striking distance of all-time highs — a rare event that leaves investors wondering what exactly is going on. After all, stocks at all-time highs indicate that investors are optimistic about the future and happy to pile into risky assets. Gold, meanwhile, is often viewed as a safe haven — a port in the storm during periods of uncertainty. 'It might be another Apple or Microsoft': My wife invested $100K in one stock and it exploded 1,500%. Do we sell? Why Goldman Sachs says high-flying tech stocks may be headed for a tough stretch My friend, 83, wants to add me to his bank account to pay his bills. What could go wrong? 'The situation is extreme': I'm 65 and leaving my estate to only one grandchild. Can the others contest my will? One of our children has legal knowledge and lives far away, the other lacks financial savvy but lives nearby. Who should we appoint as executor? 'It's like watching someone eat salad and dessert at the same time,' said Adam Koos, president and senior financial adviser at Libertas Wealth Management Group. 'Investors are trying to be 'healthy' but still hedging against what might come later.' It is possible for both the S&P 500 and gold to hit, and hold, record highs at the same time, but 'it's not exactly the norm,' he said. When it does happen, it's usually 'under a specific set of conditions that reflect a combination of optimism and anxiety in the markets.' This year's rise for both tells a story of 'conflicting narratives,' Koos said. 'The stock market is pricing in a soft landing with [artificial-intelligence] fueled earnings growth, while gold is pricing in longer-term structural concerns' such as runaway deficits, a weakening dollar or even central-bank demand from countries hedging U.S. exposure. Traditionally, the S&P 500 SPX and gold GC00 are 'somewhat inversely correlated,' he said. When they rise together, it often 'points to a deeper undercurrent,' such as fear around inflation, a weakening dollar or expectations that the Federal Reserve might start easing interest rates. Both gold and the S&P 500 have been moving higher so far this year, though the metal has far outpaced the rise for the index. As of Monday, gold futures were up nearly 27% in the year to date and sitting just 2.1% below the record high set on April 21, according to Dow Jones Market Data. The S&P 500 is up only 2.1% this year but has roared back from the steep selloff that followed President Donald Trump's unveiling of sweeping tariff measures on April 2. The S&P 500 as of Friday was just about 2.3% below its record finish, scored on Feb. 19. Read: The S&P 500 is back at a big milestone. Here's what one strategist needs to see to be even more optimistic. 'The rare positive correlation between gold and the index, which historically tend not to peak together, may have been fueled by dovish Fed expectations and fiscal as well as structural concerns,' said Dina Ting, head of global index portfolio management at Franklin Templeton. The S&P 500 index and gold futures had reached respective record highs at the same time earlier this year, on Feb. 18, with the index marking a record close at the time of 6,129.58 and gold settling at $2,949. Equities tend to respond to growth-related factors like earnings and interest rates, while gold prices tend to move on more fear-related factors like inflation expectations or debt levels, said Keith Weiner, chief executive officer of Monetary Metals. Right now, we seem to be in a period where both sets of forces are 'elevated,' he said. Optimism is driving equity markets higher, while underlying fears are supporting record demand for gold' and investors are 'positioning for both potential outcomes by continuing to buy stocks for growth and gold for stability.' To see the precious metal and the index move in tandem is a break from the norm, but it's not surprising to see, said Harley Kaplan, an independent financial advisor in Plymouth, Mass. 'Investments can be emotion driven and presently, there is a lot of risk in the world,' he said. Gold has always provided security against turmoil, while investors in equities invest for tomorrow — 'showing confidence in the future.' Meanwhile, the ratio between gold and S&P 500, which represents how many ounces of the metal are required to buy the index, appears to have rebounded since narrowing and is 'elevated but not extreme,' said Franklin Templeton's Ting. 'That suggests confidence in equities, but not an outright dismissal of gold,' she told MarketWatch. 'The significance here is it's signaling a reversion to more traditional dynamics.' At roughly 1.76, the ratio currently favors gold, Koos said. It had fallen to around 1.5 back in April, according to a chart provided by Libertas Wealth Management. When the ratio falls, gold is the relative outperformer, which likely means that investors are 'shifting toward safety or bracing for volatility,' he said. When the ratio is moving up, the bulls — and momentum and strength — are in the hands of the S&P 500, he said. That said, although it's rare, the index and gold could reach record highs simultaneously again, said Koos. For that to be sustainable, however, there would likely need to be a combination of falling real interest rates or dovish Fed policy, ongoing demand for hard assets — such as central banks buying gold — continued belief in long-term growth that would support equities and 'enough macro uncertainty to keep fear trades alive,' he said. 'It's a fragile dance,' Koos said, likening such a situation to watching 'someone balancing two spinning plates.' It's possible for a while, he said, but it 'takes constant motion and the right conditions to keep both from falling.' 'I prepaid our mom's rent for a year': My sister is a millionaire and never helps our mother. How do I cut her out of her will? I bought my mother-in-law a condo — and she took out a $30,000 car loan. Now she refuses to get a roommate. How do I make sure my son-in-law doesn't get his hands on my daughter's inheritance? 'He failed in his fiduciary duty': My brother liquidated our mother's 401(k) for her nursing home. He claimed the rest. A local restaurant has a 5% container charge and 3% kitchen-service fee. Is this as nuts as it sounds? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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