Traders work on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., March 7, 2022. Andrew Kelly | Reuters If there’s more bad news from retailers in the coming week, that could be a negative catalyst for an already cranky stock market. Market pros are watching for more signs
For all too many years, many if not most American cities turned their backs on the rivers responsible for their very existence. The thinking held that banks along those tributaries were best left to factories, warehouses, and industrial real estate. If detritus associated with manufacturing needed trashing, well, the rivers provided a prime dumping spot.
JGI/Jamie Grill As inflation soars and markets slide, many investors are wondering what’s coming next. Traditional advice dictates that long-term investors — those who are focused on retirement dates further down the road — should stay the course in the markets. But those with shorter time horizons of three- to five-years for a closer goal,
Whoever coined the phrase “sell in May and go away” had brilliant insight and the performance of crypto and stock markets over the past three weeks has shown that the expression still rings true. May 20 has seen a pan selloff across all asset classes, leaving traders with few options to escape the carnage as
Municipals were better Friday after catching a bid in the secondary, finally following U.S. Treasuries in a flight-to-quality, while still underperforming, keeping valuations above 100% on the 10- and 30-year. Equities pared back earlier losses to end mixed after the S&P 500 dipped into bear market territory earlier in the session. “The correlation between stocks
Huw Pill, the Bank of England’s chief economist, said on Friday that it was “crucial” to ensure that the UK avoids stoking an “inflationary psychology” and indicated he supported further interest rate rises. With inflation having reached a 40-year high in April, Pill said that prices rising at more than four times the central bank’s
Gerald Corrigan, who spent a quarter century at the Federal Reserve, including an eight-year stint as president of the Federal Reserve Bank of New York, died Tuesday in Boston. He was 80. After leaving the New York Fed in 1993, Corrigan entered the private sector. He worked more than two decades for Goldman Sachs, retiring
UK consumer confidence has dropped to its lowest level for nearly 50 years amid the cost of living crisis, according to a survey, fuelling concerns that the economy will slide into recession in 2022. The UK consumer confidence index fell 2 percentage points to minus 40 in May, its lowest since records began in 1974,
In this article @RB.1 @CL.1 A sign displays gas prices at a gas station on May 10, 2022 in San Mateo County, California. Liu Guanguan | China News Service | Getty Images The surge in gasoline prices is impossible to miss and at the top of consumers’ minds as large billboards announce that gas now
In this article AMAT PANW ROST DECK VFC Signage outside Palo Alto Networks headquarters in Santa Clara, California, U.S., on Thursday, May 13, 2021. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines after the bell Thursday: Applied Materials — Applied Materials shares fell more than 2% after the chipmaker
The Ethereum ecosystem is set for a “huge testing milestone” with the Ropsten testnet Merge set to be conducted on June 8. According to the Merge testnets page on Github, Ethereum DevOps engineer Parathi Jayanathi submitted a pull request for the Ropsten testnet Merge configuration code on Monday, suggesting the implementation is ready to go.
The strength of the housing market has made order takers out of the builders and dealers serving it – even to the point that many are turning down work because new jobs would mean a sacrifice of critical resources. Now, the question is, how sustainable is the strength of this type of market? And, how
A customer looks at listings on display outside a Brown Harris Stevens offices in New York. Brendan McDermid | Reuters The rise of reality TV shows featuring real estate has been “horrible” for the industry and the image of its brokers, a top brokerage CEO said Thursday. “This is not who we are,” said Bess
Microstrategy’s CEO has predicted that bitcoin is “going to go into the millions” despite the recent cryptocurrency market sell-off. Noting that the cryptocurrency is the future of money, he said: “We are in it for the long term.” Microstrategy Sees Bitcoin as the Future of Money The CEO of the Nasdaq-listed software company Microstrategy, Michael
Municipals saw an uptick in secondary activity that led to a constructive tone, pushing yields lower for the first time since late April, while still underperforming another day of U.S. Treasury market gains on Thursday. Equities ended mixed after experiencing the worst losses in two years on Wednesday. Investors pulled more from municipal bond mutual
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Illinois priced $1.64 billion of general obligation debt Wednesday at spreads on par with current trading levels that have more than doubled this year due to market turmoil despite a round of upgrades. A U.S. Treasury market rally helped calm the market, but news of a 17th week of outflows from municipal bond mutual funds
On May 17, United States Federal Reserve Chairman Jerome Powell told the Wall Street Journal that the 50-basis-point rate hikes would continue until inflation is under control. Powell’s emphasis on a hawkish policy suggests that monetary conditions are likely to remain tight in 2022, which could limit the upside in risky assets. On-chain market intelligence
Wall Street stocks fell on Wednesday as a bounce for global equity markets faded and downbeat earnings from discount retailer Target intensified jitters about inflation and choked-up supply chains. The benchmark S&P 500 share index dropped 1.5 per cent in early dealings and the technology-heavy Nasdaq Composite lost 1.8 per cent. Shares in Target plunged
Gabe Plotkin, chief investment officer and portfolio manager of Melvin Capital Management LP, speaks during the Sohn Investment Conference in New York, May 6, 2019. Alex Flynn | Bloomberg | Getty Images Melvin Capital Management, the hedge fund burned by the GameStop mania, said it will unwind its funds and return cash to investors as