Stock Market Today: Market Moves Mostly Sideways in Quiet Session
One might have expected a pause in equities after yesterday''s widespread resurgence – after all, that has been stocks'' M.O. throughout 2022''s bear market. And that''s exactly what we got after stocks reversed a morning slump, then let an afternoon rally slip away right before Wednesday''s close. Just like Tuesday, there was no definitive driver for today''s action – just a market trying to determine what''s next amid a Texas plain''s worth of headwinds. SEE MORE 65 Best Dividend Stocks You Can Count On in 2022 "This week is a relatively slow one for economic data," says Lauren Goodwin, economist and portfolio strategist at New York Life Investments, "but we expect market volatility to continue as investors wait for signs that inflation and interest rates will stabilize." One of the most critical things on the mind of investors is the potential for a looming recession. Darrell L. Cronk, president of the Wells Fargo Investment Institute, fears we might already be there. "The Atlanta Fed''s GDPNow tracker, typically tilted toward optimistic readings, is signaling that U.S. gross domestic product (GDP) for the second quarter of 2022 is now tracking at 0%," he says. "Following a 1.5% contraction in the second estimate of first-quarter U.S.
Stock Market Today: Market Moves Mostly Sideways in Quiet Session
One might have expected a pause in equities after yesterday''s widespread resurgence – after all, that has been stocks'' M.O. throughout 2022''s bear market. And that''s exactly what we got after stocks reversed a morning slump, then let an afternoon rally slip away right before Wednesday''s close. Just like Tuesday, there was no definitive driver for today''s action – just a market trying to determine what''s next amid a Texas plain''s worth of headwinds. SEE MORE 65 Best Dividend Stocks You Can Count On in 2022 "This week is a relatively slow one for economic data," says Lauren Goodwin, economist and portfolio strategist at New York Life Investments, "but we expect market volatility to continue as investors wait for signs that inflation and interest rates will stabilize." One of the most critical things on the mind of investors is the potential for a looming recession. Darrell L. Cronk, president of the Wells Fargo Investment Institute, fears we might already be there. "The Atlanta Fed''s GDPNow tracker, typically tilted toward optimistic readings, is signaling that U.S. gross domestic product (GDP) for the second quarter of 2022 is now tracking at 0%," he says. "Following a 1.5% contraction in the second estimate of first-quarter U.S.