Zoom Video Communications (NASDAQ:ZM) will likely report its results for the first quarter of fiscal 2021 today after the closing bell.
According to a CNBC survey of global CFOs, most of them expect the Dow Jones Index to crash below 19,000 or its March lows.
Citigroup joined the bearish bandwagon. Citi’s co-head of investment banking, Manolo Falco, said that stock markets are “way ahead of reality.”
Warren Buffett, Berkshire Hathaway's chairman, is trailing SPY this year. However, a few months of underperformance shouldn't bother long-term investors.
In May, the S&P 500 Index (NYSEARCA:SPY) closed in the green for the second consecutive month. In March 2020, the index fell 12.5%.
Slack Technologies (NYSE:WORK) stock has been rising before its first-quarter earnings results. The company will likely release its results on June 3.
Today IHS/Markit released China’s May PMI data. The data came in 50.7 compared to 49.4 in April. Notably, the reading was better than expected.
J.P. Morgan strategists have dialed back their bullishness on stocks due to rising US-China tensions. The tension could have a severe impact on stocks.
The lockdown amid the COVID-19 global pandemic dragged down the global economy and largely contributed to the surge in the unemployment rate.