Markets sink: Strategist talks economic softness, says economy is breaking down

Stocks (^DJI, ^IXIC, ^GSPC) are under pressure Thursday afternoon as new manufacturing and jobless claims data failed to meet investor expectations. Piper Sandler chief investment strategist Michael Kantrowitz joins Market Domination to share his economic outlook.
Kantrowitz points out that the markets received a lot of "bad news" today, including rising unemployment claims and ISM's manufacturing PMI (Purchasing Managers' Index) remaining in contraction territory ahead of Friday's July jobs report. He notes that while this economic trend has been ongoing since May, and despite a positive CPI (Consumer Price Index) report in July, today's data has "reset" investors "back to reality."
"The economy continues to break down," Kantrowitz tells Yahoo Finance. He adds "there's more breadth in this economic softness than we've seen in some time."
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[McKnightCutkosky]

just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

[Kaustavpatell]

I dont even know where the stock market is headed to right now. my portfolio of around 200k is not increasing more than 5% and people are predicting a crash .

[OliviaWright-qq]

AI stocks are set to dominate 2024. I prefer NVIDIA because they're well-positioned for long-term growth and support other AI companies. I know someone who made over 200% with NVIDIA. I'll also consider the other recommendations you made.

[darkhorseman]

Federal reserve waited too long to lower interest rates.

[slocumb]

Minimum wage for McDonald's workers is $20 per hour in CA. Quarter Pounder with cheese combo meal is $18. There's your barometer.

[Freya-jqmc]

What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.

[brettdavidson]

Let me translate
We printed too much we were dumb and now it's bitting us in the behind

[pakcanhunter]

life is unaffordable for most ppl nowadays.

[GamingLoreReader]

Don't be surprised when the market continues to crash tomorrow Friday

[DarthQuantum-ezqz]

The non-farm payroll report (aka the jobs numbers) came in weak, and the Dow is down 700 points. BIDENOMICS is setting in.

[rexx]

Experts have been claiming we're heading into a recession every year as long as I can remember. I guess if you keep saying that eventually you'll be right.

[RichardParkerTheRealtor]

I thought bad news was good news these days. I'm confused

[DebbiKalinski]

Always free and amazing results, thank you.

[trevorsebastian]

I don’t understand, I thought this is what everyone wanted, unemployment to increase so that inflation goes down? Wasn’t that the whole point?

[DonVegan]

Depression is here now. Not recession ‼️

[roegoleg]

Don’t lower rates to save the public markets, especially the large caps. Corporate greed created the asset bubble and the debt. It has to unwind or else the consequences are worse each time it gets pushed down the road.

[oceanview]

Everything will work out. Stay invested!

[scottcarter]

What is your best Strategy Do not Vote democrat!!!!

[MAMBAFXHELPLINE]

There are many other interesting business and stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire..

[rahuldev]

It's just market manipulation, they just waiting for lots of short sellers and options traders.