Market Sprints A '3K': New All-Time High Above 3000 As Rate Cut Seen [Forbes]
Bed Bath & Beyond Inc. (BBBY)
Last bed bath & beyond inc. earnings: 4/15 04:15 pm
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Source: Forbes
Market Sprints A '3K': New All-Time High Above 3000 As Rate Cut Seen iStock Key Takeaways: The S&P 500 Index (SPX) hit 3000 for the first time Wednesday on dovish testimony from Fed Chair Jerome Powell, but is there meaning in this big new round number? Well, it’s great for fodder, and maybe it helps psychologically to see a new first-digit for the SPX for the first time since 2014. The challenge to that psychological lift probably comes when earnings season starts next week. Expectations on Wall Street are already pretty soft, meaning companies have a low bar for beating projections. Companies that do beat might get a small reward in the stock market, but companies that miss low expectations are likely to get taken out to the woodshed. That’s one reason why some analysts think the SPX might be approaching the top of its range for the moment. The earnings rewards look like they might be unremarkable, while the punishments look like they could be significant. If we see a couple of b
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