Stocks stabilized a bit on Tuesday, possibly giving investors a foothold ahead of Wednesday's Fed decision.
 | TUE, MAY 03, 2022 | | | |
| DOW | | NAME | LAST | CHG | %CHG | | AAPL | 159.48 | +1.52 | +0.96% | | INTC | 45.06 | +0.10 | +0.22% | | VZ | 47.17 | +0.94 | +2.03% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AMD | 91.13 | +1.29 | +1.44% | | AAPL | 159.48 | +1.52 | +0.96% | | T | 19.33 | +0.21 | +1.10% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 91.13 | +1.29 | +1.44% | | AAPL | 159.48 | +1.52 | +0.96% | | NVDA | 196.02 | +0.69 | +0.35% | |
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Stocks stabilized a bit on Tuesday, possibly giving investors a foothold ahead of Wednesday's Federal Reserve decision. But after a big drawdown in April, the question is whether stocks can make a real move high to cut their losses for the year. The last major rally came after the March Fed meeting, and just like this time, stocks had fallen in the weeks preceding the central bank's updated statement. |
With the S&P 500 falling into correction territory, and the 10-year Treasury yield briefly pushing above 3% on Monday, markets could be due for another snapback. Callie Cox, U.S. investment analyst at eToro, said that the market appears to be pricing in a "worst-case scenario" of an aggressive Fed and a recession, setting up a potential relief rally for stocks if a more friendly outcome emerges. "The Fed may be a little bit behind the curve, but markets are way ahead of the curve," Cox said. |
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