SNAP - Is It Over Or Just A Dead Cat Bounce?
2024-04-30 17:19:00 ET
Summary
- The S&P 500 rebounded by nearly 4% after a 7% pullback, but uncertainty remains about whether the correction is over or not.
- We saw significant earnings from companies like Tesla, Alphabet, Snap, and others, suggesting potential for more explosive results.
- Intel's earnings were disappointing, but the stock is cheap and could rebound, while Meta presents a buying opportunity after its stock price drops.
- More earnings, non-farm payroll data, and market-moving events are expected, with potential for rate cuts and higher stock prices by year-end.
The S&P 500 Index ( SP500 , SPX ) rebounded considerably, bouncing by nearly 4%. The recovery comes after a broad market pullback of roughly 7% (peak to trough). Now, we have several crucial questions. Is "the correction" over? Is this a "dead cat bounce?" What's next? ...
Is It Over, Or Just A Dead Cat Bounce?