“It couldn’t be a more fitting Groundhog Day,” Barbara Kollmeyer reports for MarketWatch. “Wall Street gave a little cheer at the close on Monday as sagging oil prices, for once, didn’t take stocks down. But the opening setup is looking all too familiar, with stock futures getting duly pounded as oil becomes another sticky mess.”
“Investor nerves aren’t helped by the data flow right now, such as Monday’s downbeat manufacturing update,” Kollmeyer reports. “See why you should worry.”
“Credit Suisse on Tuesday cut its year-end S&P 500 target to 2,050 from 2,150, saying the macro picture is looking “more complicated” and predicted earnings growth will be flat this year,” Kollmeyer reports. “Credit Suisse isn’t the only one concerned about the U.S. economy. In our call of the day, RBC Capital talks about recession and offers a list of stocks to get through it. Spoiler alert: The analysts like Apple in this gloomy growth scenario, a big contrast to the Debbie Downers out there — like a recent chart that could see a href=”http://www.marketwatch.com/story/heres-the-chart-that-predicts-apple-will-hit-70-a-share-2016-01-26″ target=”_new”>Apple at $70 a share (shudder)…”
Read more in the full article here.
MacDailyNews Take: Batten down the hatches!