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HomeFinance NewsReal-time Updates on Today's Stock Market Activity: Stay Informed Now!

Real-time Updates on Today’s Stock Market Activity: Stay Informed Now!

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Despite four consecutive days of losses, stocks closed higher on Monday. The Dow Jones Industrial Average rose 0.13%, while the S&P 500 and Nasdaq Composite both ended the day higher by 0.4% and 0.45%, respectively. However, Jefferies warns that Urban Outfitters and Foot Locker may be at risk if consumer spending slows. Analyst Corey Tarlowe downgraded both stocks from buy to hold after a recent survey revealed that US consumers are likely to decrease spending, particularly in the apparel and footwear sectors. Jefferies fears that the resumption of student loan repayments could further weigh on already soft sales for these companies.
Furthermore, a key technical change highlighted by BTIG could signal challenges ahead for the market. This change has only occurred five times in the last three decades and has often corresponded with particularly negative market conditions. CNBC Pro subscribers can access a detailed analysis of the factors raising alarm and the areas of the market that may face significant problems.
Additionally, Schwab Asset Management has cut the expense ratio for two of its income funds, including the Schwab U.S. TIPS ETF, which has over $11 billion in assets under management. The expense ratios for both funds have been reduced to 0.03%, aligning them with the rest of Schwab Asset Management’s fixed income lineup. In related news, Trivariate Research remains bearish on financials due to factors such as higher borrowing costs, tighter financial conditions for loans, and a deteriorating consumer. However, they still see potential in the “biggest and best U.S. banks,” such as JPMorgan, Morgan Stanley, and Goldman Sachs.

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