China stocks fall as tensions rise after Pelosi visit
Open flat stock futures
Stock futures opened sideways in overnight trading on Monday.
Futures contracts tied to the Dow Jones Industrial Average inched 0.06% lower, or 21 points. Futures contracts on the S&P 500 and Nasdaq 100 fell 0.06% and 0.01%, respectively.
– Samantha Subin
Truist’s Lerner says profits from here will be limited for the next few months
Keith Lerner, co-chief investment officer at Truist, said that investors who tend to focus on equities should consider using current market conditions to trim their positions because of the upward momentum in equities. shares are restricted in the future.
According to Lerner, the market’s gains over the next few months could be capped in the 3% to 5% range, but the decline could exceed that.
“Without a doubt, the market is very flexible and it will probably stay that way for a bit, but we don’t see the risk-reward as appealing here,” he said.
This is by no means an indication that the market is on top and stocks could move higher, but it is an opportunity to reallocate exposure after last month’s strong market rally, Lerner said. said more.
Pinterest shares rise 21% as Elliott Management reveals position as biggest investor
Pinterest stocks up more than 21% after the company announced stronger-than-expected user numbers and Elliott Management revealed that it is the largest shareholder in the photo-sharing company.
Activist investor Elliott said in a statement that it has “belief in the value creation opportunity” at Pinterest, calling the social media company a “highly strategic business with significant growth potential.” tell.”
“As the market leader at the intersection of social media, search and commerce, Pinterest occupies a unique position in the advertising and shopping ecosystem, and CEO Bill Ready is the leader,” writes Elliott. the right direction to oversee Pinterest’s next phase of growth.”
Despite the stock’s transfer, Pinterest missed estimates for the second quarter on the top and bottom lines, Monthly Active Users for this period coming in at 2 million above the estimate.
– Samantha Subin