Amazon cut 67,000 jobs in 2022, the first yearly decline in 20 years
Amazon.com Inc. had a pretty bad year in 2022, with the e-commerce and cloud giant recording its biggest loss ever, and with its stock suffering a yearly record loss. Its employees had a bad year, too: For the first time in 20 years, the company shrank its workforce. According to Amazon’s 2022 annual report, released […]
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 […]
Why NFTs saw $946 million in trading volume in January – the highest since June 2022
Non-fungible tokens registered $946 million in trading volume in January 2023, up 38% from December, and the highest on record since June 2022, according to an updated Feb. 2 report by DappRadar, which tracks and analyzes the activity of NFT marketplaces. Non-fungible tokens, which provide proof of ownership of a digital asset like online artwork, […]
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 […]
Opinion: Market pros are so happy about stocks right now, you have to wonder if they’re too bullish
There’s an old saw about how if you lay all the world’s economists end to end, they still won’t point in any one direction or reach a conclusion.There’s no such adage about market technicians, but in the past six weeks it appears that the diehard group of technical analysts have all reached the same eventuality, […]
The stock-market rally survived a confusing week. Here’s what comes next.
Despite a Friday stumble, stocks ended a turbulent week with another round of solid gains, keeping 2023’s young but robust stock-market rally very much alive.But a cloud of confusion also sets over the market, and it will eventually need to be resolved, strategists said. Stocks rose early in the week as traders continued to bet […]
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 […]
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 […]
This trader nailed two big market calls in 2022. She says investors are ‘being paid to wait’ so should steer clear of stocks for 2023.
Ahead of major tech earnings, Meta results are ready to light up the Nasdaq Composite COMP for Thursday. The S&P 500 SPX is also pointing to gains as investors take a glass-half full view of the Fed meeting. Worried that investors are in the clutches of another Fed misread is the founder of LaDucTrading.com, Samantha LaDuc. “The […]