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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
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