Welcome back, readers. Phil Rosen here, I'm on my way to Times Square, where NFT.NYC is about to kick off — keep an eye out for dispatches from the conference this week.
Ahead of the summit, I sat down with the founder of the "Coachella of NFTs" and $4.
But stock market investors are in no mood for monkey business today. Top analysts see another dramatic drop-off looming after last week's Fed rate hike.
Let's break it down.
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1. A nightmare scenario for the stock market could be brewing, and the Fed's rate hikes have increased the $4, according to Axonic Capital's top hedge fund strategist.
"The 1970s' drawdown scenario of almost $4 is becoming all the more likely," the strategist said. Cutting the index's January high in half would send it to 2,400, about 30% lower than the current levels.
Richard Sapertein, chief investment officer at a $9 billion money manager, agreed that there's $4 left to fall for stocks.
The massive uncertainty and volatility mean $4, and the Fed's quantitative tightening could drag shares even lower. In his view, investors shouldn't be rushing into stocks right now.
As if those forecasts weren't enough, JPMorgan analysts said the stock market is currently $4 of a $4. Gloomy talk of economic turmoil can have its own $4 on market moves.
"Whether one looks at web searches or market pricing there appears to be heightened concern about the prospect of a US recession which by itself has the $4," JPMorgan said.
2. Stocks jumped Tuesday, with S&P 500 futures climbing 500 points in early trading and reversing from last week's broad sell-off. Analysts say the major indexes are set for a "sympathy bounce" after the market holiday. $4
3. On the docket: Progressive, La-Z Boy, and Icanic Brands, $4. Plus, as I mentioned, the world's biggest NFT conference begins today in New York.
4. A CIO with $98 billion in assets under management explained why he's getting back into equities now. He's also successfully sidestepped a 14% correction this year — $4
5. I sat down with Shark Tank star Kevin O'Leary to learn about his crypto investing strategy during the bear market. The veteran investor explained that he's been snapping up more bitcoin and ether as prices have slumped — $4.
6. These European countries paid Russia $40 billion for fuel in the first three months of the Ukraine war. And those transactions happened despite impending bans and sanctions on imports. $4
7. Oil
8. This psychologist who earns $1 million a year coaching wealthy clients explained why she never uses the word "saving." The idea goes with the concept of "wealth language," Dr. Tracy Thomas said. $4
9. Northwestern Mutual's chief investment officer shared three out-of-favor areas of the stock market that look appealing now. Investors must contend with Fed rate hikes, but Brent Schutte still sees opportunities in the current landscape. $4
10. Real estate sales are starting to take longer. Earlier this year, less than half of pending sales lasted more than two weeks on the market. Slowly but surely, that number is ticking up — $4.
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Curated by Phil Rosen in New York. (Feedback or tips? Email prosen@insider.com or tweet @philrosenn>$4.) Edited by Jason Ma in Los Angeles and Lisa Ryan in New York.