Stock Market Today: Live Updates

10 minutes ago

Toll Brothers, Coinbase among stocks move after hours

Here are some of the stocks that move in extended trading:

Coinbase – Shares of the cryptocurrency trading platform fell more than 1%. And the company beat analyst expectations for higher and lower profit, according to Refinitiv.

Toll Brothers – Homebuilder stock added 3% on better-than-expected earnings report. The company also said that it has seen an increase in demand since the beginning of 2023.

CoStar Group Commercial real estate stock fell more than 16% after sharing guidance for the current quarter that fell short of estimates, according to StreetAccount.

Read the full list of stocks that move after the bell here.

– Samantha Sobin

17 minutes ago

JPMorgan’s chief strategist sees another 5% drop in the stock market

The stock market could see a 5% drop in the near term, while experimental high-tech stocks could drop 5% to 10%, JPMorgan’s Marko Kolanovic told CNBC’s “The Closing Bell: Overtime” on Tuesday.

The chief global market strategist maintains a 4,200 price target on the S&P 500 for 2023. He said that leaves room for potential near-term sell-offs, followed by possible bottoms, before the Fed starts — or signals — rate cuts.

“We really think the Fed will need to cut interest rates for the market to go higher on a sustainable basis,” Kolanovic said.

The broader index fell 2% on Tuesday to close at 3,997.34 and complete its worst day since December 3rd. 15, when it fell 2.5%.

– Piya Singh

35 minutes ago