10 minutes ago
Toll Brothers, Coinbase among stocks move after hours
Here are some of the stocks that move in extended trading:
Coinbase – Shares of the cryptocurrency trading platform fell more than 1%. And the company beat analyst expectations for higher and lower profit, according to Refinitiv.
Toll Brothers – Homebuilder stock added 3% on better-than-expected earnings report. The company also said that it has seen an increase in demand since the beginning of 2023.
CoStar Group Commercial real estate stock fell more than 16% after sharing guidance for the current quarter that fell short of estimates, according to StreetAccount.
Read the full list of stocks that move after the bell here.
– Samantha Sobin
17 minutes ago
JPMorgan’s chief strategist sees another 5% drop in the stock market
The stock market could see a 5% drop in the near term, while experimental high-tech stocks could drop 5% to 10%, JPMorgan’s Marko Kolanovic told CNBC’s “The Closing Bell: Overtime” on Tuesday.
The chief global market strategist maintains a 4,200 price target on the S&P 500 for 2023. He said that leaves room for potential near-term sell-offs, followed by possible bottoms, before the Fed starts — or signals — rate cuts.
“We really think the Fed will need to cut interest rates for the market to go higher on a sustainable basis,” Kolanovic said.
The broader index fell 2% on Tuesday to close at 3,997.34 and complete its worst day since December 3rd. 15, when it fell 2.5%.
– Piya Singh
35 minutes ago
Stock futures open slightly higher
“Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff.”
More Stories
Microsoft opens data center in Thailand amid Southeast Asia expansion
Carvana (CVNA) Q1 2024 earnings
The wage increases reveal another “thorny” problem for the Fed