Live updates: Stock futures rise as S&P 500 ends three-day losing streak

Live updates: Stock futures rise as S&P 500 ends three-day losing streak

28 Mins Ago

Stocks are likely to continue rallying on rising recession risks, Piper Sandler says

Rising risks of recession are unlikely to put a damper on the current market rally, according to Piper Sandler.

In fact, the opposite might be true.

“We believe stocks will rally on rising recession risks (i.e., softer macro data) — certainly an unusual take!” the investment firm wrote. “We remain constructive with the view that lower rates from softer macro data will set up stocks for another leg higher in the coming quarters.”

Going forward, Piper Sandler views higher rates as the greatest threat to the market rally and the most likely catalyst for a correction.

— Lisa Kailai Han

44 Mins Ago

Bitcoin’s current market cap is greater than GDP of 159 of the world’s economies, and other surprising statistics from HSBC

In a Tuesday note, HSBC Global Research released a list of 13 surprising market statistics.

Here are a few:

  • “The current market cap of Bitcoin is higher than the GDP of 159 of the world’s economies in 2023.”
  • “40% of retail sales in Korea take place online vs less than 25% in the US and western Europe.”
  • “Annual cement consumption in China is down 15% since 2020, but it is still more than the US has consumed in the last 20 years.”
  • “India, Korea, and Taiwan all have twice the number of large, liquid companies open to foreign investors than there are in mainland China.”

— Lisa Kailai Han

An Hour Ago

Stock futures are slightly higher

Stock futures traded up modestly shortly after 6 p.m. ET.

Dow futures added 0.2%. S&P 500 and Nasdaq 100 futures each ticked up by 0.1%.

— Alex Harring

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