Dow sheds nearly 400 points as U.S stocks finish mostly lower after Goldman Sachs, Morgan Stanley earnings
U.S. stocks ended mostly lower on Tuesday, with the Dow Jones Industrial Average snapping a four-day win streak after Goldman Sachs reported poor earnings results. The S&P 500 also ended lower, but the Nasdaq Composite eked out a gain as investors focused on whether the early 2023 rally has legs.How stocks traded The S&P 500 […]
How a ‘triple-barreled buy signal’ and other green flags could send the S&P 500 20% higher, says this money manager
A holiday-shortened week is looking like it will get off to a lower start, as China landed some weak growth numbers and more earnings roll out. That’s after two positive weeks to start 2023. But there’s more than a whiff of bullishness in the air, according to our call of the day, from investment research […]
Morgan Stanley cuts U.S. dollar forecasts lower
The U.S. dollar is going to drop further, Morgan Stanley strategists said over the weekend as they became more optimistic about the global economy. They now see the DXY dollar index DXY, +0.20% ending the year at 98, from a previous forecast of 104. They see the euro EURUSD, -0.19% climbing to $1.15, vs. a […]
As U.S. dollar stumbles, Japanese yen is ‘hottest story in town’. Here’s why.
It’s the comeback currency. The Japanese yen, among the world’s worst-performing major currencies in 2022, roared back to a seven-month high versus a now-reeling U.S. dollar on Friday, as traders bet the Bank of Japan will finally join other major central banks in tightening monetary policy. A December reading Thursday on U.S. inflation that was […]
Investors are ‘desperate’ for a recession that forces the Fed to pivot but what happens to markets if the economy remains healthy this year ?
As 2023 gets underway markets are clinging to expectations that the U.S. economy will slide into a recession that effectively forces the Federal Reserve to start cutting interest rates, lower bond yields and borrowing costs, and perhaps help stock market valuations. U.S. economic data released over the past few months show that inflation has moderated, […]
Small-cap stocks outperform so far in 2023 as U.S. equities book second week of gains this year
Small-cap stocks are outperforming large-cap U.S. equities this year, in an upbeat start to 2023 after suffering steep losses last year. The Russell 2000 index, which tracks small-cap stocks in the U.S., was up 7.1% this year through Friday, according to FactSet data. That beats the 4.2% gain for the S&P 500, a gauge of […]
Oil futures score a weekly gain of more than 8% as China’s economic reopening boosts demand prospects
Oil futures on Friday posted a gain of more than 8% for the week, supported by optimism over demand from China as the country lifts its strict COVID-19 curbs and reopens its economy. Price action West Texas Intermediate crude for February delivery CL00, +1.94% CL.1, +1.94% CLG23, +1.94% rose $1.47, or 1.9%, to settle at […]
Genesis, Winklevoss twins’ Gemini crypto venture charged by SEC with selling unregistered securities
U.S. securities regulators on Thursday charged Genesis Global Capital and crypto exchange Gemini Trust Co. with offering and selling of unregistered securities to retail investors, bypassing disclosures and other requirements aimed at protecting market participants. Genesis and Gemini raised billions of dollars’ worth of crypto assets from hundreds of thousands of investors through unregistered offers, […]
‘Super lame,’ says Gemini co-founder Tyler Winklevoss about SEC charges
New charges against crypto platforms Genesis Global Capital and Gemini Trust Co. by the Securities and Exchange Commission are “disappointing,” said Tyler Winklevoss, co-founder of Gemini, in a Twitter thread on Thursday evening. Earlier Thursday, the SEC charged Genesis and Gemini with engaging in the offering and sale of unregistered crypto asset securities through Gemini […]
The housing market is showing signs of ‘normalizing’ and IRS says ‘Tax Day’ will be different this year — put these important tax dates on your calendar
Hi, MarketWatchers. Don’t miss these top stories.IRS says ‘Tax Day’ will be different this year — put these important tax dates on your calendar Two thirds of households received income-tax refunds last year, IRS statistics show. Read More U.S. mortgage rates slip, giving some relief to homebuyers The 30-year mortgage rate is averaging at 6.33%, […]