U.S. stock futures slide after S&P 500 posts back-to-back gains: Live updates

It is essential for investors to practice patience and not got swept up in trepidation amid this period of heightened uncertainty, according to Oppenheimer.

In a Monday note, Oppenheimer chief investment strategist John Stoltzfus reiterated his bullish stance on equities.

“We remain positive on stocks and consider near-term volatility tied to the uncertainties surrounding the tariff regime structure — which for now remains in our view very much ‘a work in progress’ — as not atypical of a period in market history which is laden with watershed caliber developments in technological innovation and changes likely to the global trade landscape that seek to create a fairer and likely more competitive global venue,” he wrote.

Stoltzfus added: “Pullbacks earlier this year have mostly looked like ‘trims’ and ‘haircuts’ for the S&P 500 whenever bears, skeptics, and nervous investors have found a catalyst to take near-term profits without FOMO (fear of missing out) amid what appears to us in fundamentals that persist in showing resilience like a very much intact bull market.”

Specifically, Stoltzfus listed his favorite sectors as information technology, communications services, consumer discretionary, financials and industrials — sectors that have all sold off this year.

— Lisa Kailai Han

In a press release, ON Semiconductor said it had “determined there is no actionable path forward,” but that the company would focus its efforts on other opportunities to enhance shareholder value.

— Lisa Kailai Han