(Bloomberg) — Goldman Sachs Group Inc. slashed its year-end target for the S&P 500 Index to 3,600 from 4,300, arguing that a dramatic shift in the outlook for interest rates moving higher will weigh on valuations for US equities. The higher interest-rate scenario in Goldman’s valuation model supports a price-earnings multiple of 15 times, compared […]
Read More(Bloomberg) — For investors burned by inflation, a very bad year is starting to look even worse. As stock prices tumbled and bonds were hit with the deepest losses in decades, the surge in consumer prices turned a few corners of the financial markets into profitable refuges earlier this year. Oil prices rallied. Other commodities […]
Read More(Bloomberg) — Stocks and US equity futures advanced Friday as investors assessed whether monetary tightening to tackle inflation in the US and Europe is getting closer to being priced in. A gauge of dollar strength dropped the most in a month. Europe’s Stoxx 600 Index jumped more than 1.5% as miners rallied on optimism over […]
Read More(Bloomberg) — US equity futures slid along with Asian stocks on Monday and the two-year Treasury yield reached the highest since 2007 after Federal Reserve Chair Jerome Powell signaled higher-for-longer interest rates. Contracts for the tech-heavy Nasdaq 100 and the S&P 500 fell 1% or more, while bourses in Japan, South Korea and Australia shed […]
Read More(Bloomberg) — Stocks in Asia may struggle Monday on escalating threats to global economic growth, in particular the Federal Reserve’s commitment to tighter monetary settings to quell inflation. Futures pointed to soft starts for bourses in Japan, Australia and Hong Kong following the worst week for global shares since late June. US equity futures retreated, […]
Read More(Bloomberg) — While Elon Musk has plenty of Wall Street detractors, Scott Burg may be the first distressed-bond manager to make a multibillion-dollar options bet that Musk’s Tesla Inc. will be “squashed like a bug.” Burg, the chief investment officer of Deer Park Road Management Co. who made the prediction in a 2020 tweet, acquired […]
Read More(Bloomberg) — Bank of America Corp.’s quant analysts say a US stock market indicator with a perfect track record has bad news for bulls: Equity prices haven’t bottomed out yet. The measure looks at the S&P 500 Index’s trailing price-to-earnings ratio in combination with US consumer inflation. Every market trough since the 1950s saw the […]
Read More(Bloomberg) — A global rebound in stocks looks set to support Asian bourses as trading gets underway Monday ahead of key reports on China’s economic activity and liquidity operations by the nation’s central bank. Futures for Japan and Australia rose but Hong Kong’s were steady. S&P 500 and Nasdaq 100 contracts fluctuated after a global […]
Read More(Bloomberg) — Stocks in Asia look set for a cautious start on Monday following a jump in Treasury yields and the dollar on expectations of further aggressive Federal Reserve interest-rate hikes to tame elevated inflation. Futures dipped for Japan, Australia and Hong Kong, while S&P 500 and Nasdaq 100 contracts declined. Global shares completed a […]
Read More(Bloomberg) — Among the many superlatives attaching to markets in July, one that could come back to haunt the Federal Open Market Committee is Wednesday and Thursday’s, when the stocks posted their biggest post-meeting rally on record. Believing they heard a dovish tilt from Jerome Powell, traders pushed the S&P 500 up nearly 4% over […]
Read More(Bloomberg) — US equity futures fluctuated with stocks Wednesday amid rising concern that Europe will lose access to Russian gas, sending the region into a recession that could have global repercussions. Contracts on the Nasdaq 100 and the S&P 500 erased early gains to trade slightly lower, along with the Stoxx 600 Index. In the […]
Read More(Bloomberg) — A yearlong rush to the exits by institutional investors has left the stock market’s foundation delicate and given to quick swings. More evidence came at around 1 p.m. in New York Monday, when what looked like a second straight green day for the S&P 500 fell apart in minutes. While news Apple Inc. […]
Read More(Bloomberg) — Asian stocks look set for a wary open after sizzling US inflation data buffeted Wall Street, hardening bets on an even more aggressive Federal Reserve campaign of monetary tightening and an ensuing economic downturn. Futures pointed to muted starts Thursday in Japan, Australia and Hong Kong, while S&P 500 and Nasdaq 100 contracts […]
Read More(Bloomberg) — Stocks in Asia look set for a cautious start on Monday amid fresh concerns about the possibility of more growth-sapping Covid curbs in China that could weigh on the global economic outlook. Futures rose for Japan and Australia but were little changed for Hong Kong, where casino shares face a challenging open after […]
Read More(Bloomberg) — A pall of gloom descended on global markets as former Japanese Prime Minister Shinzo Abe was shot to death. The news was a further blow to investors already reeling under the worst economic challenges since the 2008 financial crisis. They sent US stock-index futures European equities lower as they awaited employment data to […]
Read More