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đ 5 ETFs To Look At Amid Worst Market Rout in 2 Years
Will the market continue to bounce after Monday's wild day? Plus, $PLTR, $UBER and more earnings reports
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Happy Monday Zingernation! Well, I donât really know how âhappyâ of a Monday it is, but it is Monday nonetheless! Things are getting a little ugly out there, and there are a few explanations why. But, as bad as my portfolio is looking, there could be some light at the end of the tunnel after all.
âAaron Bry & Nic Chahine
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MARKET SNAPSHOT
Yesterday: As bad as it looked at the open, all the major indices moved higher throughout the day, closing well off their lows. Buy the dip worked again, at least for now.
On Our Radar: Japanâs stock market, tracked by the Nikkei 225 index, recovered from its worst day in decades on Monday, trading up more than 8% as we slept. Weâll see if that helps ease fears today.
TOP STORY
Basically: The battered tech sector continued to suffer on Monday as a global sell-off of stocks and other assets pulled markets toward bear territory.
So: A slight uptick in U.S. unemployment, published on Friday, reignited fears of a recession that rippled across the globe. Some indices saw historical drops, including Japan's Nikkei 225 stock index, which dropped more than 13.4% at its lowest point on Monday. Here are the stocks that led yesterdayâs recovery, and the ones that are still lagging behind.
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FIVE ZINGERS
Five Stars From Me: Uber reported earnings this morning, beating estimates for both EPS and revenue. Hereâs what the analysts are saying.
American Resilience: JPMâs CEO, Jamie Dimon, remained confident in the American economy, despite the recent market downturn.
Follow The $CRWD: Analysts are starting to turn bullish on Crowdstrike after the cyber companyâs disastrous outage a couple of weeks ago.
Blank Check For The Win: Lucidâs earnings report wasnât great, but did announce more than $1b in new funding from the Saudi PIF.
Legal Woes: Google is under pressure after a judge ruled against the search-engine giant in an antitrust case. Hereâs what it means for $GOOG.
ONE FOR THE ROAD
Basically: Global equity markets have been under pressure in recent sessions amid fears of a potential U.S. recession, triggered by cooling labor market conditions and struggling manufacturing activity.
So: Despite last monthâs business surveys showing expansion in services activity, investors remain worried that the worldâs largest economy may be slowing down, which could curb U.S. household discretionary spending and reduce corporate profits. Here are five defensive ETFs that can bolster your portfolio during turbulence in the markets.
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