Investors often search for companies that can withstand economic downturns with minimal damage. These so-called recession-proof businesses typically sell essential products or services — things consumers continue buying regardless of economic conditions.
At first glance, Tesla (TSLA +1.16%) might not seem to fit that description.
Wall Street’s losses deepened Friday as the ongoing fallout from the war in Iran keeps pushing oil prices higher, ratcheting up inflationary pressure on the global economy.
The S&P 500 fell 0.6% after having been up as much as 0.9% in the early going. The benchmark index is now down 3.1% so far this year.
» Read more about: US stocks lose ground as war with Iran keeps pressure on oil prices »
The geopolitical conflict in the Middle East has oil prices back in the headlines. Energy markets are in a state of flux, commodity prices are on the rise, and you are likely already seeing the impact at the gas pump. Even after the conflict ends, it will take some time for oil markets to stabilize again.
» Read more about: 2 Energy Stocks to Consider Instead of Crude Oil »
Australia
Matteo Colombo | Digitalvision | Getty Images
Asia-Pacific markets jumped on Tuesday as investors monitor the latest developments in the Iran war, with U.S. President Donald Trump looking to delay his meeting with Chinese President Xi Jinping by “a month or so”
Hedge funds are sitting on their largest short book against US stocks since the 2022 bear market, setting the scene for an explosive rally in the world’s biggest sharemarket if there is a sudden de-escalation in the Middle East.
Speculative investors have been upping their bets against Wall Street since the Iran war broke out just more than two weeks ago.
» Read more about: Beware ‘the mother of all short squeeze’ brewing on Wall Street »
Nvidia (NVDA +1.63%) stock finished Monday up just 1.6% despite gaining as much as 4.8% earlier in the day. The S&P 500 gained 1%.
CEO Jensen Huang took the stage at the company’s GTC conference,
» Read more about: Why Nvidia Stock Just Dropped After Jumping Nearly 5% »
Forecasters widely expect the Federal Reserve to keep its benchmark interest rate unchanged when it concludes its two-day meeting on March 18, as policymakers weigh the economic impact of the ongoing war with Iran.
In addition to the United States going to war, much has happened since the Federal Open Market Committee held the rate steady at a target range of 3.5% to 3.75% at its last meeting in January,
» Read more about: Will the Fed cut interest rates? What we know as Iran war clouds picture »
The Federal Reserve will announce its latest interest rate decision Wednesday. The last time the Fed changed the federal funds rate was in December. Then, we got a pause in January.
This time around, between elevated inflation and a shaky job market, the Federal Reserve is setting the stage for another interest rate hold.
» Read more about: Fed expected to keep rates steady under uncertainty of war »
The Social Security Administration (SSA) recently announced upcoming changes to one of the ways they decide if someone gets or can keep their disability benefits. The reason? To improve accountability and speed up decisions, but experts are warning that even with this new system, “The underlying problem hasn’t changed,” meaning applicants might not even feel the effects.
» Read more about: New Social Security Rule Could Affect Millions—Here’s What to Know »