Market recovery is hitting a fork in the road: Lakshman Achuthan

spike

The last two recessions may help determine what’s next for the recent market rally.

Economic Cycle Research Institute co-founder Lakshman Achuthan has narrowed the possible recovery paths into two scenarios: The dot.com bubble collapse and financial crisis aftermath.

Achuthan builds his case in a special S&P 500 chart showing performance during the 2009 to 2010 and 2001 to 2003 recoveries.

“If we looked at the last two business cycle recoveries, I think everybody is hoping that it’s something like coming out of ’09 into ’10,” the economic forecaster told CNBC’s “Trading Nation” on Wednesday. “The economy kept recovering for the

Read More

Cloudera, Fossil, Costco and more

spike

Shoppers walk out with full carts from a Costco store in Washington, D.C., on May 5, 2020.

Nicholas Kamm | AFP | Getty Images

Check out the companies making headlines after the bell.

Cloudera – The software company’s stock fell 11% in extended trading after Cloudera provided its first-quarter earnings. The company reported first-quarter earnings of 5 cents per share excluding some items on revenues of $210.5 million, while analysts polled by Refinitiv expected earnings of 0 cents per share on revenue of $204.6 million. Cloudera also issued weak revenue guidance for the second quarter, but strong earnings guidance for

Read More

Futures idle as S&P 500 looks to extend win streak

spike

The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, April 26, 2020.

Jeena Moon | Reuters

Futures contracts tied to the major U.S. stock indexes held steady at the start of the overnight session Wednesday evening on the heels of yet another robust day on Wall Street and amid one the market’s strongest rebounds on record.

Dow Jones Industrial Average futures lost 1 point, indicating an opening loss of about 20 points when regular trading resumes on Thursday. S&P 500 futures were

Read More

What happened to the stock market Wednesday: economic data lifts stocks

spike

Traders with masks work on the first day of in-person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020.

Brendan McDermid | Reuters

Dow Jones Industrial Average rises 527 points

Data comes in better than expected

ADP and Moody’s Analytics reported private payrolls fell by another 2.76 million in May. The ADP number was far less than the 8.75 million estimate. Data from the Institute for Supply Management showed the U.S. services sector contracted less than expected, rebounding from an

Read More