‘Today’s a good day to be careful,’ Art Cashin says
Art Cashin, director of floor operations at UBS, said on CNBC the market has jumped between extremes over the course of the week as investors switched between feeling oversold and overbought. He said it’s important investors stay vigilant of unnecessary agitations to the market and advised them to “be careful” during Friday’s trading session.
“Today’s a good day to be careful,” Cashin said on “Squawk on the Street.” “Friday before a weekend, financial rumors around, so you … have to be careful to avoid rumor mongers.”
— Alex Harring
Bank of America, Dish Network among stocks notching news lows
These are some of the stocks hitting new lows during Friday trading:
Some stocks, however, bucked the broader market downtrend. These names notched new highs:
- Hershey trading at all-time high levels back through our history to 1972
- NVR, Inc. trading at levels not seen since February 2022
- Marketaxess Holdings trading at levels not seen since January 2022
- Cadence Design Systems trading at all-time high levels back to when ECAD, Inc went public 1987
— Samantha Subin, Chris Hayes
Dow’s Friday slide brings average’s week-to-date return into the red
Friday’s drop to the Dow has pulled the index into negative territory for the week.
After shedding more than 400 points at its low, the Dow’s week-to-date return moved from slightly above the flatline to down more than 0.1%.
Despite the S&P 500 and Nasdaq Composite also sliding in Friday morning trading, the two indexes are still up around 1.6% and 4.5% for the week.
Dow over the week
Consumer sentiment unexpectedly falls in March
The University of Michigan’s consumer sentiment index fell to 63.4 in March, from 67 last month as inflation expectations remained elevated.
“Year-ahead inflation expectations receded from 4.1% in February to 3.8%, the lowest reading since April 2021, but remain well above the 2.3-3.0% range seen in the two years prior to the…
Read the full article here
