• Business

    Tesla stock has ‘gone on sale,’ according to one analyst. Here’s what investors should do

    Tesla Inc. stock is caught up in the tech selloff as well as some company and industry headwinds, but that doesn’t mean investors should shy away from the “highly attractive entry point” the pullback has created. That’s from CFRA analyst Garrett Nelson, who said in a note Tuesday that even though Tesla TSLA, +11.69% shares “have recently gone on sale,” the company is “one of the market’s most compelling growth stories – an investment with long-term return potential similar to tech disruptors such as (Apple Inc. AAPL, +3.23% ) or (Amazon.com Inc. AMZN, +2.49% ) several years ago.” Tesla shares have lost 44% this year, compared with losses of around…

  • Business

    History says the next bull market is just months away, and it could carry the S&P 500 to the 6,000 level, according to Bank of America

    When it comes to bear markets, investors can take comfort from history, which suggests that where there’s a beginning, there’s always an end. And according to Bank of America, investors have only got a few bear-market months left to endure after the U.S. benchmark S&P 500 SPX, +0.22% tumbled into bear territory at the start of this week. And then will come a bull market. Per history, B. of A. Global Investment Strategy’s chief investment strategist, Michael Hartnett, points out, the average peak-to-trough bear-market decline is 37.3% over a span of 289 days. Matching that pattern would put the end of the pain on Oct. 19, 2022, which happens to…

  • Business

    Strategist who nailed the recent S&P 500 top says three things are needed for a market bottom

    Wariness is in order after the S&P 500’s bear-market finish and a potential 75 basis-point Fed hike just one day away. Gains for stock futures and a potential bounce are fading fast. Morgan Stanley’s Mike Wilson, who can count some wins after pounding the table this year over a gloomy stock setup, told clients on Sunday that the S&P is “headed toward 3,400 before a more tradable low is in.” “With growth now the main risk to stocks, our focus remains on names that can deliver on earnings in a very difficult environment for many companies to navigate,” said Wilson. “We continue to like classic late-cycle winners – defensives and energy –…