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(Bloomberg) -- Stocks dropped amid mixed economic data and mounting concern over a flare-up in coronavirus cases as well as stretched valuations.Data showed sales of previously owned U.S. homes slid in March to a seven-month low, while jobless claims posted an unexpected decline last week. Investors also sifted through a batch of corporate earnings. Most major groups in the S&P 500 fell, with commodity and financial shares leading losses. American Airlines Group Inc. erased gains. AT&T Inc. climbed after beating profit estimates amid gains in wireless customers and growth in subscribers to its streaming service.While pandemic restrictions have eased with the vaccination rollout, there’s concern over a coronavirus resurgence that could derail the economic rebound. Strategists at Credit Suisse Group AG see red flags in cyclical stocks -- warning that the trade may be getting overextended after the largest outperformance on record.“Investors should start thinking about taking some risk off the table if they have not done so already,” said Cliff Hodge, chief investment officer at Cornerstone Wealth. “Much of the good news is priced in. As the rubber meets the road, and we have to now execute on the reopening that the market has discounted, there’s a lot more that can go wrong.”A gauge of market breadth suggests investor concerns remain. The percentage of Russell 2000 members trading above their 50-day moving average fell below 40%, compared to about 80% for the large-cap S&P 500, a smidgen off a record gap, according to data compiled by Bloomberg going back to 1995. It’s too early to tell whether this can morph into something larger, but previous instances have led to subsequent pressure on U.S. stocks, wrote Sundial Capital Research founder Jason Goepfert in a note to clients.Elsewhere, the euro was little changed after European Central Bank President Christine Lagarde said the institution isn’t discussing the phasing out of its emergency bond buying even as it sees signs that the economy is starting to shake off the coronavirus pandemic.Here are some key events to watch this week:U.S. releases new home sales data Friday.These are some of the main moves in markets:StocksThe S&P 500 fell 0.2% of 10:09 a.m. New York time.The Stoxx Europe 600 Index climbed 0.5%.The MSCI All-Country World Index gained 0.1%.CurrenciesThe Bloomberg Dollar Spot Index climbed 0.1%.The euro was little changed at $1.203.The Japanese yen was little changed at 108.05 per dollar.BondsThe yield on 10-year Treasuries fell one basis point to 1.55%.Germany’s 10-year yield fell one basis point to -0.28%.Britain’s 10-year yield decreased two basis points to 0.725%.CommoditiesWest Texas Intermediate crude was little changed at $61.32 a barrel.Gold fell 0.4% to $1,786.20 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The retailer has provided commentary about solid first-quarter sales, which led Jefferies analyst Stephanie Wissink to stick with her Buy rating.
After a very successful pre-launch through the crowdfunding site, Indiegogo, Johnny Appleseed Organic officially launched their newest product, ClimateGard™, the first no kill, premium, all-purpose, organic fertilizer with sustainable packaging, on their website direct to consumers just in time for Earth Day on April 22, 2021. Customers can now purchase individual bags or set up a subscription-based service at www.johnnyappleseed.com.
Los Angeles, California--(Newsfile Corp. - April 22, 2021) - The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Velodyne Lidar, Inc. ("Velodyne" or "the Company") (NASDAQ: VLDR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Investors who purchased the Company's securities between November 9, 2020 and February 19, 2021, ...
France defended the Chadian army's takeover of power on Thursday after the battlefield death of President Idriss Deby presented Paris with an uncomfortable choice - back an unconstitutional military leader or risk undermining its fight against Islamists. While the opaque political and business ties that once bound France to its ex-colonies in Africa have frayed over the last decade, interests remain closely intertwined and under Deby's rule Chad was a key ally in combatting Islamists in the Sahel. Foreign Minister Jean-Yves Le Drian justified the installation of a military council headed by Deby's son on the grounds that stability and security were paramount at this time.
Protecht, the leading provider of financial security solutions for today's online economy, has been selected by the Boston Athletic Association to provide insurance coverage to participants who have registered for the 125th Boston Marathon, which will be held on Monday, October 11, 2021. The financial protection will be offered through Protecht's RegShield insurtech platform.
Chillax'n CBD invites people to experience what it is like to officially "Chill" and "Relax" with a new line of CBD fruit flavored beverages, fast-acting body care, and aromatherapy products at the Big Race, April 23-25.
Existing-home sales declined in March, reflecting the challenges buyers continue to face in the competitive real-estate market. Existing home-sales fell 3.7% to a seasonally-adjusted, annual rate of 6.01 million in March, the National Association of Realtors reported. Compared with a year ago, home sales were up more than 12%. Home prices hit a high of $329,100, reflecting a record pace of price growth at 17.2% from last year.
While demand will be restrained in the near term, mining machinery sales return to growth as the world economy recovers from the pandemic. Mine operators that delayed machinery purchases will replace outdated machines, invest in new equipment, and adopt advanced mining technologies, all of which will contribute to growth.
Los Angeles, California--(Newsfile Corp. - April 22, 2021) - The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Apache Corporation ("Apache" or "the Company") (NASDAQ: APA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Investors who purchased the Company's securities between September 7, 2016 and March 13, 2020, inclusive ...
FOX News, in partnership with the National Merit Scholarship Program, has selected the latest recipient of the annual Dr. Charles Krauthammer Memorial Scholarship, announced Suzanne Scott, CEO of FOX News Media. This year’s scholarship will be awarded to Marin Martin, the daughter of FOX News Digital Senior Opinion Editor, Lynne Jordal Martin.
Ultivue announces the addition of Richard C. Malabre, CPA in the role of Chief Financial Officer, as the company adds to its growing executive team.
Top digital payments stock PayPal is one of the leading growth stocks in the current stock market. But is it a buy right now?
Native Americans have seen abysmal representation on TV, according to recent studies. That's all about to change with series like "Rutherford Falls."
DraftKings is one of the top IPO stocks to watch, as gambling legalization gains steam. Here is what the fundamentals and technical analysis say about buying DKNG stock now.
Sabra®, maker of America's favorite hummus and a leading plant-based brand, shared ambitious sustainability goals today, communicating a promise to nourish people and planet with commitments across all areas of the business.
ReturnQueen, the exclusive shopping return service app, has expanded its services to Tampa, Florida. In addition to the software company's corporate headquarters in the NY Metro area, and recent launch in Charlotte, and Nashville, the company's fourth ReturnHouse location (logistics facility) grows the company footprint to a total of 3,397 zip codes nationwide.
Sydney Corkran wins industry award
Intact today confirmed that Christian Baltzer will continue as CEO of Codan Denmark following the completion of the proposed takeover of RSA Insurance Group plc by Intact Financial Corporation (TSX: IFC) and Tryg A/S, currently expected in the second quarter of 2021.
Three quarters of businesses in one survey saw a surge in customers following George Floyd's death in June