Upbeat economic data couldn’t overcome the resistance stocks faced from disappointing corporate performance and persistent banking fears.
could hit more than $1 billion in revenue if things go well, according to Morgan Stanley. "Higher price points plus supply chain commentary is pointing to an opportunity that is multiples of our initial target," wrote analyst Joseph Moore in a note to clients.Upbeat economic data couldn't overcome the resistance stocks faced from disappointing corporate performance and persistent banking fears., less than the Dow Jones estimate of 0.3%. That translates to a 2.
But that news didn't shield markets from other fears. "Investor focus is now on both the economic backdrop and liquidity and what's going on versus rates and inflation," said Dylan Kremer, co-chief investment officer of Certuity. And liquidity — or, in other words, the health of banks and their willingness or ability to make loans — was in focus again Thursday. PacWest shares tumbled, along with other regional banks like Zions Bancorp, which lost 4.5%, and KeyCorp, which fell 2.5%. The SPDR S&P Regional Banking ETF slid 2.5% Thursday.
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