2 hours ago
Interactive Brokers' Thomas Peterffy says the rise in margin loans is a warning sign for the market.
Thomas Peterffy, founder and chairman of Interactive Brokers, said the recent increase in margin lending is a warning sign for the market.
The investor said Tuesday on CNBC's “Closing Bell: Overtime” that compared to the same period last year, margin loans (a type of loan in which investors borrow against existing assets) rose 30% to $51.2 billion, an all-time high. He said that it became. .
“Credit lending continues to grow, but that's not a bullish sign by any means,” Peterffy said. “This usually heralds a slowdown in the market, and that's probably what's going to happen.”
As an example, the investor pointed to the market crash two years ago, when credit loans rose again to all-time highs just before the crash.
However, Peterffy said he expects the market to rise in the long term as inflation and interest rates remain high.
— Lisa Kailai Han
2 hours ago
Stocks move big after the bell: United Airlines, Autodesk, JB Hunt Transport Services
Below are the stocks with the most price movements in after-hours trading.
- United Airlines — Aircraft carrier shares rose nearly 6% after first-quarter results beat analysts' expectations on strong travel demand. United Airlines added that it expects second-quarter earnings per share to be between $3.75 and $4.25, beating analysts' expectations of $3.76. American Airlines stock also traded up 1.5%.
- Autodesk — Software stock fell 2.4%. Autodesk announced that it will further delay its annual 10-K filing due to an ongoing internal investigation by the Audit Committee of its Board of Directors.
- JB Hunt Transport Services — Shares fell more than 5% after the transportation and logistics business posted lower-than-expected revenue and revenue last quarter. Earnings came to $1.22 per share, lower than analysts' expectations of $1.52. JB Hunt's sales of $2.94 billion also fell short of analysts' expectations of $3.12 billion.
— Lisa Kailai Han
3 hours ago
Stock futures start rising
Stock futures rose on Tuesday night.
Futures tracking the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite Index were all up nearly 0.2% after 6 p.m. ET.
— Lisa Kailai Han
