Goldman says the sell-off is just about over and tells investors to get back into growth stocks

While investors wait for the sequel to last week’s market sell-off, Goldman Sachs strategists think the worst of it already may have passed. “We see limited further downside,” David Kostin, the firm’s chief U.S. equity strategist, said in a note. He added that the kind of pullback the market saw last week was common. “Despite the recent sell-off, equity fundamentals are strong and we remain constructive on the path of the S&P 500,” he added. Goldman’s year-end price target for the S&P 500 is 2,8


While investors wait for the sequel to last week’s market sell-off, Goldman Sachs strategists think the worst of it already may have passed. “We see limited further downside,” David Kostin, the firm’s chief U.S. equity strategist, said in a note. He added that the kind of pullback the market saw last week was common. “Despite the recent sell-off, equity fundamentals are strong and we remain constructive on the path of the S&P 500,” he added. Goldman’s year-end price target for the S&P 500 is 2,8
Goldman says the sell-off is just about over and tells investors to get back into growth stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: jeff cox, scott eells, bloomberg, getty images
Keywords: news, cnbc, companies, 500, recent, equity, market, sp, points, goldman, selloff, fundamentals, stocks, yearend, growth, tells, investors, worst


Goldman says the sell-off is just about over and tells investors to get back into growth stocks

While investors wait for the sequel to last week’s market sell-off, Goldman Sachs strategists think the worst of it already may have passed.

As Wall Street recovered from a nearly 6 percent sell-off from the most recent high in the Dow industrials that knocked more than 1,500 points off the blue chip index, Goldman’s experts said solid fundamentals should help keep a floor for stock prices.

“We see limited further downside,” David Kostin, the firm’s chief U.S. equity strategist, said in a note. He added that the kind of pullback the market saw last week was common. “Despite the recent sell-off, equity fundamentals are strong and we remain constructive on the path of the S&P 500,” he added.

Goldman’s year-end price target for the S&P 500 is 2,850, which looked somewhat pessimistic when the market was breaking records but now points to 3 percent upside from Friday’s close, and, perhaps more importantly, conviction that the market drop doesn’t have much further to go.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: jeff cox, scott eells, bloomberg, getty images
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There’s ‘no winner’ in a trade war, warns IMF deputy managing director

If global supply chains are forced to adjust to the ongoing trade tensions between the U.S. and China, it could cost the world economy about 1 percent of its GDP by next year, a senior IMF official warned. When resources are reallocated due to market forces, that is considered to be an improvement in efficiency, said Tao Zhang, deputy managing director at the International Monetary Fund. It would cost the entire world “close to 1 percent of GDP by 2019,” Zhang added. The IMF recently cut global


If global supply chains are forced to adjust to the ongoing trade tensions between the U.S. and China, it could cost the world economy about 1 percent of its GDP by next year, a senior IMF official warned. When resources are reallocated due to market forces, that is considered to be an improvement in efficiency, said Tao Zhang, deputy managing director at the International Monetary Fund. It would cost the entire world “close to 1 percent of GDP by 2019,” Zhang added. The IMF recently cut global
There’s ‘no winner’ in a trade war, warns IMF deputy managing director Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: saheli roy choudhury, alex wroblewski, bloomberg, getty images
Keywords: news, cnbc, companies, world, winner, theres, war, global, cost, deputy, gdp, points, imf, grow, percentage, trade, managing, director, zhang, warns


There's 'no winner' in a trade war, warns IMF deputy managing director

If global supply chains are forced to adjust to the ongoing trade tensions between the U.S. and China, it could cost the world economy about 1 percent of its GDP by next year, a senior IMF official warned.

When resources are reallocated due to market forces, that is considered to be an improvement in efficiency, said Tao Zhang, deputy managing director at the International Monetary Fund. But when those changes happen due to unnatural distortions in the global environment, the cost of adjustment is high, he told CNBC’s Nancy Hungerford on Saturday, during the IMF and World Bank annual meetings in Bali, Indonesia.

It would cost the entire world “close to 1 percent of GDP by 2019,” Zhang added. “This gives you (an) illustration of how serious the result will be, but, in reality, we will see probably even more complicated implications, not only on trade, investment, but also on confidence and people’s psychological reactions.”

The IMF recently cut global growth forecasts: It predicted that the world economy would grow at 3.7 percent this year and next year — down 0.2 percentage points from an earlier forecast. The fund also cut its predictions for global trade volumes: The total goods and services flow is expected to grow by 4.2 percent this year and 4 percent next year — down 0.6 and 0.5 percentage points, respectively, from earlier estimates.

According to Zhang, there are no beneficiaries in a trade war. Even if a country appears to have come out on top, it would potentially do so at the expense of production capacities and a reduction in final demand.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: saheli roy choudhury, alex wroblewski, bloomberg, getty images
Keywords: news, cnbc, companies, world, winner, theres, war, global, cost, deputy, gdp, points, imf, grow, percentage, trade, managing, director, zhang, warns


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US futures point to a triple-digit fall amid Saudi Arabia tensions

U.S. stock index futures pulled back ahead of Monday’s open, as investors kept a close eye on a potential slowdown in the Chinese economy and monitored simmering tensions between Saudi Arabia and the West. ET, Dow futures were seen more than 134 points lower, indicating a negative open of 153 points. Futures on the S&P and Nasdaq were also seen relatively downbeat on Monday morning. As the new week kicks into action, many investors remained in a cautious mood following an abrupt market shakeout


U.S. stock index futures pulled back ahead of Monday’s open, as investors kept a close eye on a potential slowdown in the Chinese economy and monitored simmering tensions between Saudi Arabia and the West. ET, Dow futures were seen more than 134 points lower, indicating a negative open of 153 points. Futures on the S&P and Nasdaq were also seen relatively downbeat on Monday morning. As the new week kicks into action, many investors remained in a cautious mood following an abrupt market shakeout
US futures point to a triple-digit fall amid Saudi Arabia tensions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: sam meredith
Keywords: news, cnbc, companies, points, set, tensions, trading, previous, seen, open, futures, amid, investors, fall, point, saudi, tripledigit, arabia, sp, week


US futures point to a triple-digit fall amid Saudi Arabia tensions

U.S. stock index futures pulled back ahead of Monday’s open, as investors kept a close eye on a potential slowdown in the Chinese economy and monitored simmering tensions between Saudi Arabia and the West.

At around 4:30 a.m. ET, Dow futures were seen more than 134 points lower, indicating a negative open of 153 points. Futures on the S&P and Nasdaq were also seen relatively downbeat on Monday morning.

As the new week kicks into action, many investors remained in a cautious mood following an abrupt market shakeout in the previous trading week. The global sell-off was blamed on a series of factors, including the impact of a U.S.-China trade war, a spike in U.S. bond yields and nervousness ahead of earnings season.

U.S. stocks finished almost 300 points higher on Friday but still registered steep losses for the week as investors fretted over rising interest rates. The Dow and S&P 500 finished the previous trading week down more than 4 percent, while the Nasdaq posted a 3.7 percent weekly loss.

Retail sales figures for September are scheduled to be published at around 8:30 a.m. ET on Monday. Later in the session, Empire State Manufacturing Index data for October and business inventories data for August are both set to be released at around 10:00 a.m.

On the earnings front, Bank of America and Charles Schwab are both set to publish their latest figures before the opening bell.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: sam meredith
Keywords: news, cnbc, companies, points, set, tensions, trading, previous, seen, open, futures, amid, investors, fall, point, saudi, tripledigit, arabia, sp, week


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Dow bounces back 287 points Friday, but still loses 4% on the week

The Dow Jones Industrial Average gained 287.16 points to 25,339.99, led by a 4.7 percent surge in Visa. The S&P 500 jumped 1.4 percent to 2,767.13, snapping a six-day losing streak, as the tech sector surged 3.2 percent. The S&P 500 and Nasdaq also gave back big chunks of their gains before rallying into the close. Despite the strong gains on Friday, the Dow and S&P 500 finished the week down by more than 4 percent, while the Nasdaq posted a 3.7 percent weekly loss. The S&P 500 also logged in a


The Dow Jones Industrial Average gained 287.16 points to 25,339.99, led by a 4.7 percent surge in Visa. The S&P 500 jumped 1.4 percent to 2,767.13, snapping a six-day losing streak, as the tech sector surged 3.2 percent. The S&P 500 and Nasdaq also gave back big chunks of their gains before rallying into the close. Despite the strong gains on Friday, the Dow and S&P 500 finished the week down by more than 4 percent, while the Nasdaq posted a 3.7 percent weekly loss. The S&P 500 also logged in a
Dow bounces back 287 points Friday, but still loses 4% on the week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: fred imbert, alexandra gibbs
Keywords: news, cnbc, companies, dow, sp, 500, investors, bounces, valuations, points, week, 287, tech, weekly, loses, nasdaq, streak


Dow bounces back 287 points Friday, but still loses 4% on the week

Why you shouldn’t panic when stocks are getting slammed 9:47 AM ET Fri, 12 Oct 2018 | 02:11

Stocks rose in volatile trading on Friday, but still posted sharp losses for the week as investors fretted over rising interest rates, high technology valuations and worries about a possible economic slowdown.

The Dow Jones Industrial Average gained 287.16 points to 25,339.99, led by a 4.7 percent surge in Visa. The S&P 500 jumped 1.4 percent to 2,767.13, snapping a six-day losing streak, as the tech sector surged 3.2 percent. The Nasdaq Composite outperformed, surging more than 2 percent to 7,496.89.

Stocks traded in a wide range Friday. The Dow gained as much as 414 points and briefly turned negative. The S&P 500 and Nasdaq also gave back big chunks of their gains before rallying into the close.

Despite the strong gains on Friday, the Dow and S&P 500 finished the week down by more than 4 percent, while the Nasdaq posted a 3.7 percent weekly loss. The steep losses marked their worst weekly declines since March. The S&P 500 also logged in a three-week losing streak, its longest since June 2016.

Wasif Latif, head of global multi-assets at USAA, said investors should remain cautious in the near term. “It’s too early to tell if we’re out of the woods yet,” he said. “We have to wait and see how the market reacts in the next few days.”

Sentiment was rocked around the globe, as investors grew nervous over the rise in interest rates and high valuations in tech shares.


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: fred imbert, alexandra gibbs
Keywords: news, cnbc, companies, dow, sp, 500, investors, bounces, valuations, points, week, 287, tech, weekly, loses, nasdaq, streak


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Dow bounces back 287 points Friday, but still loses 4% on the week

The Dow Jones Industrial Average gained 287.16 points to 25,339.99, led by a 4.7 percent surge in Visa. The S&P 500 jumped 1.4 percent to 2,767.13, snapping a six-day losing streak, as the tech sector surged 3.2 percent. The S&P 500 and Nasdaq also gave back big chunks of their gains before rallying into the close. Despite the strong gains on Friday, the Dow and S&P 500 finished the week down by more than 4 percent, while the Nasdaq posted a 3.7 percent weekly loss. The S&P 500 also logged in a


The Dow Jones Industrial Average gained 287.16 points to 25,339.99, led by a 4.7 percent surge in Visa. The S&P 500 jumped 1.4 percent to 2,767.13, snapping a six-day losing streak, as the tech sector surged 3.2 percent. The S&P 500 and Nasdaq also gave back big chunks of their gains before rallying into the close. Despite the strong gains on Friday, the Dow and S&P 500 finished the week down by more than 4 percent, while the Nasdaq posted a 3.7 percent weekly loss. The S&P 500 also logged in a
Dow bounces back 287 points Friday, but still loses 4% on the week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: fred imbert, alexandra gibbs
Keywords: news, cnbc, companies, dow, sp, 500, investors, bounces, valuations, points, week, 287, tech, weekly, loses, nasdaq, streak


Dow bounces back 287 points Friday, but still loses 4% on the week

Why you shouldn’t panic when stocks are getting slammed 9:47 AM ET Fri, 12 Oct 2018 | 02:11

Stocks rose in volatile trading on Friday, but still posted sharp losses for the week as investors fretted over rising interest rates, high technology valuations and worries about a possible economic slowdown.

The Dow Jones Industrial Average gained 287.16 points to 25,339.99, led by a 4.7 percent surge in Visa. The S&P 500 jumped 1.4 percent to 2,767.13, snapping a six-day losing streak, as the tech sector surged 3.2 percent. The Nasdaq Composite outperformed, surging more than 2 percent to 7,496.89.

Stocks traded in a wide range Friday. The Dow gained as much as 414 points and briefly turned negative. The S&P 500 and Nasdaq also gave back big chunks of their gains before rallying into the close.

Despite the strong gains on Friday, the Dow and S&P 500 finished the week down by more than 4 percent, while the Nasdaq posted a 3.7 percent weekly loss. The steep losses marked their worst weekly declines since March. The S&P 500 also logged in a three-week losing streak, its longest since June 2016.

Wasif Latif, head of global multi-assets at USAA, said investors should remain cautious in the near term. “It’s too early to tell if we’re out of the woods yet,” he said. “We have to wait and see how the market reacts in the next few days.”

Sentiment was rocked around the globe, as investors grew nervous over the rise in interest rates and high valuations in tech shares.


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: fred imbert, alexandra gibbs
Keywords: news, cnbc, companies, dow, sp, 500, investors, bounces, valuations, points, week, 287, tech, weekly, loses, nasdaq, streak


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Trade war could cut China’s growth by nearly 2 percentage points over two years: IMF

At its worst, the ongoing trade tensions could knock 1.6 percentage points off China’s economic growth over the first two years, according to an analysis by the International Monetary Fund. The assessment took into account all current and proposed tariffs on Chinese goods that enter the U.S., as well as knock-on effects the trade tensions have on investor confidence and financial markets. Rhee told reporters that direct economic impact from the tariff fight between the U.S. and China is actually


At its worst, the ongoing trade tensions could knock 1.6 percentage points off China’s economic growth over the first two years, according to an analysis by the International Monetary Fund. The assessment took into account all current and proposed tariffs on Chinese goods that enter the U.S., as well as knock-on effects the trade tensions have on investor confidence and financial markets. Rhee told reporters that direct economic impact from the tariff fight between the U.S. and China is actually
Trade war could cut China’s growth by nearly 2 percentage points over two years: IMF Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: yen nee lee, getty images
Keywords: news, cnbc, companies, economic, tensions, growth, war, financial, nearly, rhee, markets, imf, points, investor, impact, imfs, percentage, chinas, pacific, cut, trade


Trade war could cut China's growth by nearly 2 percentage points over two years: IMF

At its worst, the ongoing trade tensions could knock 1.6 percentage points off China’s economic growth over the first two years, according to an analysis by the International Monetary Fund.

The assessment took into account all current and proposed tariffs on Chinese goods that enter the U.S., as well as knock-on effects the trade tensions have on investor confidence and financial markets. But much of that impact is expected to be offset by the Chinese government’s policies to stimulate the economy, noted Changyong Rhee, director of the IMF’s Asia and Pacific Department.

The analysis was published on Friday in the IMF’s Regional Economic Outlook report focusing on the Asia Pacific region.

Rhee told reporters that direct economic impact from the tariff fight between the U.S. and China is actually “quite small.” What’s more detrimental is the hit to investor confidence, which has rattled financial markets and is likely to last for a while, he said.

“This is one of the reasons why we feel that headwinds may last longer,” Rhee said. “I don’t know what will be the end … I think the lessons we have taken is how much the global financial markets and real economy are well integrated, no one can be free from such shocks.”

“In the end, there will be no winner from the global trade war,” he said in Bali, Indonesia where the IMF and the World Bank are holding their annual meetings.


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: yen nee lee, getty images
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Wall Street losses rip through global markets as rate fears shake investors

Global markets plunged Thursday, continuing steep losses seen in the previous session, as investors worry about rapidly rising interest rates and an expected slowdown in global growth. Overnight Dow Jones industrial average futures were down by 189 points as of 2:52 a.m. This after stocks sank Wednesday with the Dow plunging more than 800 points in its worst drop since February. Around the world, stocks have tumbled on the back of concerns surrounding global economic growth and rising interest r


Global markets plunged Thursday, continuing steep losses seen in the previous session, as investors worry about rapidly rising interest rates and an expected slowdown in global growth. Overnight Dow Jones industrial average futures were down by 189 points as of 2:52 a.m. This after stocks sank Wednesday with the Dow plunging more than 800 points in its worst drop since February. Around the world, stocks have tumbled on the back of concerns surrounding global economic growth and rising interest r
Wall Street losses rip through global markets as rate fears shake investors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: fred imbert, eustance huang, ryan browne, matt clinch, getty images
Keywords: news, cnbc, companies, seen, investors, points, street, wall, dow, yields, trump, stocks, week, rates, rate, global, losses, markets, rip, shake, fears


Wall Street losses rip through global markets as rate fears shake investors

Global markets plunged Thursday, continuing steep losses seen in the previous session, as investors worry about rapidly rising interest rates and an expected slowdown in global growth.

Overnight Dow Jones industrial average futures were down by 189 points as of 2:52 a.m. ET. Futures implied the Dow will open Thursday down by 280 points. This after stocks sank Wednesday with the Dow plunging more than 800 points in its worst drop since February. The VIX (the CBOE Volatility Index), which is seen as a fear gauge for the market, also hit a high of 20.58, its highest level since April 11.

Around the world, stocks have tumbled on the back of concerns surrounding global economic growth and rising interest rates. The International Monetary Fund warned earlier this week that simmering trade tensions, such as those between the U.S. and China, could lead to a “sudden deterioration in risk sentiment, triggering a broad-based correction in global capital markets and a sharp tightening of global financial conditions.”

Meanwhile, U.S. Treasury yields have this week climbed to multi-year highs. Traditionally a sharp rise in bond yields — the cost of borrowing — is seen as negative for major cooperates and their stock prices. President Donald Trump on Wednesday once again criticized the U.S. Federal Reserve, calling the central bank “crazy” for its insistence on hiking rates. Trump also commented on the plunge in markets, calling it a “correction that we’ve been waiting for for a long time.”


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: fred imbert, eustance huang, ryan browne, matt clinch, getty images
Keywords: news, cnbc, companies, seen, investors, points, street, wall, dow, yields, trump, stocks, week, rates, rate, global, losses, markets, rip, shake, fears


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Dow falls again, bringing 2-day losses to more than 1,000 points

The Dow Jones Industrial Average traded 200 points lower, bringing its two-day losses to more than 1,000 points. The S&P 500 dropped 0.8 percent and was on pace for a six-day losing streak. The major indexes briefly pared losses in late-morning trading as tech shares tried to rebounded from their worst day in seven years. Tech shares fell more than 4.5 percent on Wednesday, marking their worst day since 2011. The sell-off led to the Dow sinking more than 800 points and the S&P 500 dropping more


The Dow Jones Industrial Average traded 200 points lower, bringing its two-day losses to more than 1,000 points. The S&P 500 dropped 0.8 percent and was on pace for a six-day losing streak. The major indexes briefly pared losses in late-morning trading as tech shares tried to rebounded from their worst day in seven years. Tech shares fell more than 4.5 percent on Wednesday, marking their worst day since 2011. The sell-off led to the Dow sinking more than 800 points and the S&P 500 dropping more
Dow falls again, bringing 2-day losses to more than 1,000 points Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: fred imbert, alexandra gibbs, michael nagle, bloomberg, getty images, kirsty oconnor, nick wosika, icon sportswire, vcg, visual china group
Keywords: news, cnbc, companies, falls, 500, day, losses, dow, sp, points, 1000, yield, 2day, treasury, fell, worst, data, bringing


Dow falls again, bringing 2-day losses to more than 1,000 points

Stocks are getting slammed. Five experts weigh in on what to do now 2 Hours Ago | 04:57

Stocks fell in volatile trading Thursday, a day after the major indexes suffered steep losses sparked by higher rates and a sell-off in tech shares.

The Dow Jones Industrial Average traded 200 points lower, bringing its two-day losses to more than 1,000 points. The S&P 500 dropped 0.8 percent and was on pace for a six-day losing streak. The broad index also broke below its 200-day moving average for the first time since May. The Nasdaq Composite slipped 0.1 percent.

The major indexes briefly pared losses in late-morning trading as tech shares tried to rebounded from their worst day in seven years. Facebook rose more than 1 percent while Alphabet gained 0.8 percent.

Tech shares fell more than 4.5 percent on Wednesday, marking their worst day since 2011. The sell-off led to the Dow sinking more than 800 points and the S&P 500 dropping more than 3 percent. It was also the 28th time since 2011 the S&P 500 posted a more than 2 percent decline, according to data from Birinyi Associates.

“It’s a momentum correction, not a portfolio correction,” said Joe Terranova, chief market strategist at Virtus Investment Partners. “While we have a bias to believe 2008 could happen again, I don’t think this is the case.”

“Less is more in this environment,” Terranova added. “I think you need to be an observer of the guidance you get in earnings.”

Weaker-than-expected inflation data also helped stocks pare losses. The U.S. government said the consumer price index rose 0.1 percent in September, well below the expected gain of 0.2 percent.

These data pushed Treasury yields fell from multiyear highs. The 10-year Treasury note yield traded at 3.157 percent while the two-year yield slipped to 2.848 percent.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: fred imbert, alexandra gibbs, michael nagle, bloomberg, getty images, kirsty oconnor, nick wosika, icon sportswire, vcg, visual china group
Keywords: news, cnbc, companies, falls, 500, day, losses, dow, sp, points, 1000, yield, 2day, treasury, fell, worst, data, bringing


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UBS Chairman Weber says the worst thing you can do now is get out of the markets

The chairman of UBS has told CNBC that the worst thing for investors to do is sell stocks and markets still have room to grow. This week stocks have tumbled on the back of concerns surrounding global economic growth and rising interest rates. The Dow Jones Industrial Average closed 831.83 points lower on Wednesday, posting its third largest one-day fall of 2018. Speaking at the IMF-World Bank meeting in Bali on Thursday, UBS Chairman Axel Weber told CNBC’s Geoff Cutmore that investor mood has fl


The chairman of UBS has told CNBC that the worst thing for investors to do is sell stocks and markets still have room to grow. This week stocks have tumbled on the back of concerns surrounding global economic growth and rising interest rates. The Dow Jones Industrial Average closed 831.83 points lower on Wednesday, posting its third largest one-day fall of 2018. Speaking at the IMF-World Bank meeting in Bali on Thursday, UBS Chairman Axel Weber told CNBC’s Geoff Cutmore that investor mood has fl
UBS Chairman Weber says the worst thing you can do now is get out of the markets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: david reid
Keywords: news, cnbc, companies, markets, thing, mood, stocks, dow, points, global, chairman, weber, worst, market, told, week, ubs


UBS Chairman Weber says the worst thing you can do now is get out of the markets

The chairman of UBS has told CNBC that the worst thing for investors to do is sell stocks and markets still have room to grow.

This week stocks have tumbled on the back of concerns surrounding global economic growth and rising interest rates. The International Monetary Fund (IMF) warned earlier this week that simmering trade tensions, such as those between the U.S. and China, could lead to a “sudden deterioration in risk sentiment.”

The Dow Jones Industrial Average closed 831.83 points lower on Wednesday, posting its third largest one-day fall of 2018. The sell-off in Wall Street quickly spread to global stocks overnight with the VIX (the CBOE Volatility Index), which is a seen as a fear gauge for the market, hitting a six-month high of 24.1 points on Thursday. Meanwhile, Dow Futures pointed to a triple-digit dive ahead of Thursday’s open.

Speaking at the IMF-World Bank meeting in Bali on Thursday, UBS Chairman Axel Weber told CNBC’s Geoff Cutmore that investor mood has flipped from one extreme to another.

“When I was in Davos the mood in the market was overly-optimistic,” said before adding “I think when I look at the markets now, people are on the other side, they are too pessimistic.”


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: david reid
Keywords: news, cnbc, companies, markets, thing, mood, stocks, dow, points, global, chairman, weber, worst, market, told, week, ubs


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Here’s why the market’s ‘Octoberphobia’ selling could soon give way to a new rally

This October is living up to its reputation as being one of the most violent, scary months for stocks, but “Octoberphobia’ can also give way to a turnaround, particularly in a midterm election year. Stock Traders Almanac says the crash of 1929 came during so-called Octoberphobia, as did the 1987 crash, the stock market sell-offs of 1978 and 1979; Friday the 13th in 1989, and the painful 733 point drop on Oct. 15, 2008. “It’s not over yet, and October is not over yet,” said Jeffrey Hirsch, editor


This October is living up to its reputation as being one of the most violent, scary months for stocks, but “Octoberphobia’ can also give way to a turnaround, particularly in a midterm election year. Stock Traders Almanac says the crash of 1929 came during so-called Octoberphobia, as did the 1987 crash, the stock market sell-offs of 1978 and 1979; Friday the 13th in 1989, and the painful 733 point drop on Oct. 15, 2008. “It’s not over yet, and October is not over yet,” said Jeffrey Hirsch, editor
Here’s why the market’s ‘Octoberphobia’ selling could soon give way to a new rally Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: patti domm, archive photos, getty images
Keywords: news, cnbc, companies, week, way, points, soon, traders, quarter, heres, dow, midterm, almanac, worst, markets, rally, election, octoberphobia, stock, selling


Here's why the market's 'Octoberphobia' selling could soon give way to a new rally

This October is living up to its reputation as being one of the most violent, scary months for stocks, but “Octoberphobia’ can also give way to a turnaround, particularly in a midterm election year.

Stocks have been punished since the month began, with the worst two days of selling — Wednesday and Thursday — driving the Dow down a total 1,300 points. So far for this month, the Dow is down 4.2 percent; the S&P 500 is down 5 percent, and the Nasdaq is down 6.8 percent.

Stock Traders Almanac says the crash of 1929 came during so-called Octoberphobia, as did the 1987 crash, the stock market sell-offs of 1978 and 1979; Friday the 13th in 1989, and the painful 733 point drop on Oct. 15, 2008. The worst weekly decline was the week ending Oct. 10, 2008, when the Dow lost 18.2 percent or 1,874 points during the thick of the financial crisis.

“It’s not over yet, and October is not over yet,” said Jeffrey Hirsch, editor-in-chief of Stock Traders Almanac. “Everyone was pretty convinced that ‘sell in May’ was dead this year. Well, they forgot about October,” Hirsch said.

Stocks bounced on Friday, after sharp sell-offs Wednesday and Thursday that wiped out more than 1,300 Dow points. The Dow rose 287 points on Friday, finishing the week at 25,339, down 4.2 percent for the five-day period

But Octobers have also been a time of turnaround, with 12 post World War II bear markets ending in October, including the most recent, 1987, 1998, 2001, 2002 and 2011.

Eight of the 12 were midterm bottoms. “Midterm election years Octobers are downright stellar thanks to the major turnarounds,” noted Hirsch.

‘These things always surprise everybody or else they wouldn’t look like this,” he said. “It’s not unprecedented..It’s definitely something that could easily turn around.”

The October period is the beginning of what Stock Traders Almanac calls a “sweet spot,” the three quarter period that includes the fourth quarter of midterm year and the first and second quarter of the pre-presidential election year. The Dow averages gains of 20.4 percent in those periods and the S&P is up an average 21 percent.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: patti domm, archive photos, getty images
Keywords: news, cnbc, companies, week, way, points, soon, traders, quarter, heres, dow, midterm, almanac, worst, markets, rally, election, octoberphobia, stock, selling


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