The next few days may reveal whether investors have been riding one big suckers rally, says this strategist.
Stock futures are pointing due south as caution grips investors following Friday’s monster jobs beat. While subject to revisions, that 517,000 surge in U.S. jobs may have shredded hopes among some that the Fed will be done with rate hikes sooner rather than later. “Half a million jobs, climb down off the wall, call the recession […]
Lawrence Summers and IMF director both say odds of soft landing for U.S. are improving
““It looks more possible that we’ll have a soft landing than it did a few months ago.”” Those were the words of former Treasury Secretary Lawrence Summers on Sunday, offering hope that the U.S. economy can avoid recession, but warning that inflation is still far too high. In an interview on CNN’s “Fareed Zakaria GPS” […]
What’s in the $60,000 Grammy gift bags that Beyonce, Taylor Swift can take home
Talk about swagger. It’s been a long-standing tradition for the nominated artists of awards shows like the Grammys to be treated to gifting suites with luxury goods and services. But the gift bag for the 65th Grammy Awards on Sunday night is so rich, that it’s literally a suitcase stuffed with more than $60,000 worth […]
Why the 2023 stock market rally may depend on further U.S. dollar weakness
The U.S. dollar may be losing its appeal as one of the few reliable safe-haven assets in times of economic and geopolitical uncertainty after an 18 month rally, but a further fall by the currency could fuel a 2023 stock-market rally, market analysts said.The ICE U.S. Dollar Index DXY, +1.22% fell to a nine-month low […]
Wall Street to Jerome Powell: We don’t believe you
Do you want the good news about the Federal Reserve and its chairman, Jerome Powell; the other good news; or the bad news? Let’s start with the first bit of good news. Powell and his fellow monetary-policy-committee members just lifted short-term interest rates another quarter of a percentage point to 4.75%, which means retirees and […]
A pre-jobs data bet may have have netted trader $10 million profit, report says
A big fed-funds futures bet placed just before the release of what turned out to be a blowout U.S. January jobs report may have netted a trader a profit north of $10 million, Bloomberg reported Friday. The trader sold the January 2024 fed-funds futures contract FFF24, -0.26%, the report said, with the trade completed through […]
‘Wow,” Fed’s Daly says after killer jobs report, but it doesn’t alter Fed’s inflation-fighting plan
The president of the San Francisco Federal Reserve said the huge increase in new U.S. jobs in January was a “wow” report, but she stressed the central bank needs more information before it decides how much further to raise interest rates. “What I am seeing is a strong labor market,” Mary Daly said in an […]
China’s Caixin services PMI bounces back in January
A private gauge of China’s service-sector activity bounced back in January to expansionary territory, signaling a quick economic recovery following Beijing’s removal of its stringent COVID-19 containment regime in December. The Caixin China Services purchasing managers index rose to 52.9 in January from 48.0 in December, said Caixin Media Co. and S&P Global on Friday. […]
Silver Prices Are Outpacing Gold. That’s a Good Sign for the Global Economy.
Silver has sharply outpaced gold’s gains in the past three months, and its classification as both an industrial and precious metal may lead it on a path to even higher prices. From Oct. 31 to Jan. 31, Comex silver futures climbed nearly 25%, outpacing gold’s almost 19% climb, a “statistically unusual amount that shows the […]
Short on Cash, More Americans Tap 401(k) Savings for Emergencies: WSJ
Plan advisers say a rise in hardship withdrawals from retirement accounts is driven by financial strain and looser regulations. Source link