Investors might want to keep their guard up as the stock market continues its rally. “The market has kind of gone back to sleep” in appearing to think, “all right, mission accomplished, inflation’s in the bag, the Fed can back off,” said Sameer Samana, a senior global market strategist at Wells Fargo Investment Institute, in … Read more
We are a day away from data that could prove a turning point for markets. If Wednesday’s CPI doesn’t reveal some slowing in prices, expectations will rise for a bigger Fed rate hike in September, possibly knocking stocks. But if it swings the other way, especially after surprisingly good jobs data, the view that things … Read more
The S&P 500 index may be about to secure two major bullish SPX, -0.01% milestones. First, the S&P has rallied from that mid-June low right up to the major resistance at 4170. A two-day close above that level would be quite bullish and would set the stage for a challenge of the downtrend line defining … Read more
The rally in bond markets of late has been startling. As hopes grow that inflation may have peaked, and evidence of a US economic slowdown build, benchmark 10-year Treasury yields TMUBMUSD10Y, 2.742% fell from around the 3.5% level touched in mid-June, to near 2.5% at the start of this week. A 100 basis point retreat … Read more
WASHINGTON — Leaders of a Senate committee are set to propose legislation that would assign oversight of the two largest cryptocurrencies, bitcoin and ether, to the federal agency that regulates milk futures and interest-rate swaps. Senate Agriculture Committee Chairwoman Debbie Stabenow and top-ranking Republican John Boozman of Arkansas, are planning to introduce a bill on … Read more
After seeing its shares lose roughly two-thirds of their value in the past year, PayPal Holdings Inc. delivered a packed earnings report Tuesday, announcing a new chief financial officer, buyback authorization and cost-savings program, while also confirming that activists at Elliott Management Corp. have taken a stake in the company. Additionally, the company topped expectations … Read more
Hopes that the Federal Reserve may be less aggressive in hiking borrowing costs than previously feared have rippled swiftly across markets in the past week. Stocks have rallied as bond yields have dropped. And it has brought the dollar’s rampage to a juddering halt. The dollar index DXY, +0.39%, which hit a 20-year high above … Read more
Pinterest Inc. missed expectations for earnings and guided for revenue lower than analysts expected in the current quarter, but shares still spiked in after-hours trading as users stuck around in a quarter that led to sudden change and attracted an activist investor. Pinterest PINS, +2.62% on Monday reported a second-quarter loss of $43.1 million, or … Read more
Now that the Federal Reserve appears to have abandoned its forward guidance tool in favor of being “data dependent” to help inform its future path for rates, investors should keep an eye on this gauge of inflation expectations for signs of a shift in the market’s mood . Watch the five-year break-even inflation rate, one … Read more
What would Ned Johnson do? The late, great Fidelity Investments honcho built his family’s Boston-based money management firm into one of the biggest in the world over the course of a long career. Johnson died on March 23 of this year, age 91. On April 26, just over one month later, his daughter and heir, … Read more
