Dow Jones Industrial Average (^DJI)
| Previous close | 37,983.24 |
| Open | 38,075.40 |
| Volume |
| Day's range | 37,657.79 - 38,386.81 |
| 52-week range | 32,327.20 - 39,889.05 |
| Avg. volume | 342,130,645 |
- Yahoo Finance Video
Market pullback is 'buyable dip': Strategist on Mideast risk
US equities (^GSPC, ^DJI, ^IXIC) are sliding in Monday's trading session as markets are in wait-and-see on potential escalations in Middle Eastern conflicts. Conversations across Wall Street have begun to spring up about what the potential fallout could look like from Iran's strikes on Israel. Freedom Capital Markets Global Strategist Jay Woods and Bullseye American Ingenuity Fund Portfolio Manager Adam Johnson join Market Domination to discuss the rising tensions in the Middle East, the potential fallout, and what investors need to keep in mind moving forward. Johnson states what he tells his clients for times like these: "This is not what drives markets... It almost sounds callous for me to just make that my volley right off the bat. But if you go back and look at the 20 or 25 different events, geopolitical events, that involved hostilities — Gulf War one, Gulf War two, the bombing of the USS Cole, the World Trade Center, on and on — you look at these events and typically what has happened, is that you get a 7% or 8% selloff in the first five days. There's a bottoming, and then ten days later the markets are exactly where they were." Woods speaks on the pullback seen in in the markets: "I think we could drop a little further, but I think it's a buyable dip. We've seen strong earnings. The financials came out with great earnings. JPMorgan (JPM) earnings were nothing to sneeze at. I know Jamie Dimon is [typically] little skittish with his outlook, geopolitical headwinds. Goldman Sachs (GS) knocked it out of the part... We've come so far so fast, I don't see that next catalyst outside of individual pockets of earnings to take the market higher and now with the rising yields again going towards 5%, I don't think we get there..." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino
Yahoo FinanceStock market today: S&P 500 falls back under 5,100 as Big Tech leads stock slide
Worries over the fallout from Iran's attack on Israel eased, allowing focus to return to earnings season and inflation risks to rate-cut hopes.
- Yahoo Finance Video
Israeli counterattack is not a 'clear-cut call': Analyst
Following Iran's air attack on Israel, concerns have mounted that Israel may retaliate despite being advised by President Biden not to do so. Evercore ISI Vice Chairman Krishna Guha joins Yahoo Finance to discuss the likelihood of an Israeli counterattack. Guha notes that the market's reaction suggests "the risk of escalation may be coming down a bit." He observes that the way Iran launched the attack "seemed aimed at trying to send a signal, but not inflict serious damage and casualties in Israel." With Israel using US assistance to intercept the attacks, Guha believes Israel could "just take the win and step away." However, he acknowledges that Israel still has to weigh the pros and cons of "a retaliatory action." Overall, Guha expresses the view that the "risks do seem to be moderating." While he states that it's not a "clear-cut call" whether Israel will choose to retaliate, he would be "pleasantly surprised" if they ultimately decided against a military response. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance. This post was written by Angel Smith
