Jefferies did a survey on consumers facing student loan repayments. They found 90% are worried they won't meet expenses, and that means trouble for retailers...
Stocks are set for a struggle after Friday’s weak finish and a third straight weekly decline for the S&P 500 SPX. No doubt, many are questioning the upside for stocks against headwinds such as rising interest rates and DC gridlock.
They surveyed U.S. consumers with outstanding student loan debt, and found that 90% are “at least somewhat concerned about being able to meet all of their monthly expenses, while apparel, footwear, accessories, restaurants, and big-ticket items are likely to see the biggest pullbacks in spending.
They also cut Nike NKE, -0.81% to hold from buy, with its price target trimmed to $100 from $140. Here, they warn of tight inventory management through at least the end of 2023, which will pressure its wholesale channel, plus China growth headwinds. And then student loan repayments pressure on the sneaker maker’s top-end items.
The markets Stock futures ES00, -0.01% NQ00, -0.02% slipped into the red, as bond yields BX:TMUBMUSD10Y BX:TMUBMUSD02Y climb. Oil prices CL.1, +0.18% are rising, with U.S. crude just over $90 a barrel. The data calendar is empty for Monday, but the week is busy enough, with home sales and prices data , several Fed speakers and the central bank’s preferred inflation gauge on Friday.A tentative deal to end a historic Hollywood screenwriters strike was reached Sunday, but nothing yet for striking actors. Netflix NFLX, -1.13% and Paramount Global PARA, -4.96% rose.
The chart Jonathan Krinsky, chief market technician at BTIG, flags what he calls an “ominous precedent,” noting that the equal-weight S&P 500 XX:SP500EW is more than 2% below its 200-day moving average, while the S&P 500 itself is still above its 200 DMA.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
90 Day Fiancé: Before The 90 Days - David Might Give Up On Sheila (He Isn’t Ready)90 Day Fiancé’s David might find someone else.
Read more »
Xbox Sale Discounts Two Popular AAA Games by 90 PercentHundreds of Xbox One and Xbox Series X games are on sale
Read more »
Snoqualmie I-90/SR 18 ramps to close nightly September 25-29The closures are part of the Diamond Interchange project.
Read more »
Annie Suwan & David Toborowsky Meet Up With This Unexpected 90 Day Fiancé Co-StarAn unexpected 90 Day Fiancé meetup takes place.
Read more »
90 Day Fiancé Newcomer Reveals Near-Death Medical Emergency That Left Her With Huge Scar90 Day Fiancé’s Shekinah shares a tragic memory.
Read more »
Solar power and storage prices have dropped almost 90%Berlin-based climate research institute Mercator Research Institute on Global Commons and Climate Change (MCC) has released a new study indicating that, in the last decade, the cost of solar power has dropped by 87 percent, and the cost of battery storage by 85 percent.
Read more »