Green Gives Way to Red on Gossamer Macro Expectations: Live Stock News

Kevin Travers joined discussion · Mar 18 22:32

Green Gives Way to Red on Gossamer Macro Expectations: Live Stock News

St. Pattie's green made way for Tuesday's red as the market continued its war-torn, tariff-fearing, growth-slowing selloff. It's March 18th, investors: do you know where your stocks are? Many are on their way down, but there is a chance this week that there could be a turnaround; before we find out when that might happen, we have to check out Live Stock News.

Quantum computing and semiconductor stocks were on their way lower on Tuesday. $Tesla (TSLA.US)$ was leading the S&P 500 lower, $NVIDIA (NVDA.US)$ was pulling down the Dow. CNBC's Fed Survey found fund managers were expecting a much more negative year than they had expected six months ago.

$Royal Caribbean (RCL.US)$ stock fell 6%, after a Buy Rating from JP Morgan analysts, falling alongside other cruise lines on a red day. Many cruise lines have given weak consumer guidance for the year, alongside retailers like $Walmart (WMT.US)$.

$XPeng (XPEV.US)$ fell 7% after the Chinese EV company posted a Q4 revenue miss and loss of about 20C a share.

One of the only stocks climbing with any size on the Nasdaq was $Harrow (HROW.US)$, a pharma company up 22% despite news that they were delaying their Q4 2024 reporting that was expected today. They said their unaudited results came in at record revenue, though. Let's hope that their auditor agrees for their sake.

So, here are catalysts for today and this week for the stocks to turn around:

President Trump and President Putin are making a call today to discuss ending the Ukraine war, or at least a succession of hostilities. Bloomberg reported that Putin would request a complete stop to arms sent to Ukraine as one of his stipulations. That news should come out later today.

Also dropping later today; is the Atlanta Fed's GDP estimation for the current quarter, with numbers that so far have looked worse and worse. The most recent update shows the economy declining at 2.1% this quarter about as clear a sign as recession as they come.

Investors are waiting to see how these events will influence the FOMC meeting that began today and concludes tomorrow with a 2 pm rate decision.

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Elsewhere in the economy, $Crude Oil Futures(JUN5) (CLmain.US)$ climbed slightly at $67/barrel. Gold burst through a previous record at $3,028 a troy ounce.

$Bitcoin (BTC.CC)$ fell to $81k.

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Just past 10:30 am ET, the $S&P 500 Index (.SPX.US)$ traded fell nearly 1%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.40%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 1.7%.

Traders, what do you think? What are you watching on the stock market today? What is the herd following? Let me know in the comments below! $S&P 500 (LIST91326.US)$

Want to keep up to date with the market and all its feelings-driven swings, all in under three minutes? Click here to follow the Live Stock Podcast topic. Comment below or in the hot topic for a chance to appear on the podcast! I want to talk about what you are investing in!

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