Author: Press Room
European stocks and Wall Street futures dipped at the open on Thursday as traders looked to companies’ first-quarter earnings for any impact from higher interest rates and last month’s banking crisis. Europe’s region-wide Stoxx 600 slipped 0.3 per cent, Germany’s Dax lost 0.7 per cent and London’s FTSE 100 fell 0.1 per cent. In the US, contracts tracking the benchmark S&P 500 and the tech-heavy Nasdaq 100 fell 0.3 per cent and 0.4 per cent ahead of the New York open. Those moves came after Tesla’s Elon Musk indicated he was prepared to sacrifice short term profits to gobble up…
The Senate on Wednesday rejected a GOP-led effort to overturn a recently adopted Veterans Affairs rule that allows the department to provide abortions if the health or life of the veteran is in danger, or when the pregnancy is a result of rape or incest. The resolution authored by Alabama Republican Sen. Tommy Tuberville failed 48-51. GOP Sens. Lisa Murkowski of Alaska and Susan Collins of Maine crossed party lines, joining Democrats in defending the administration’s rule. One Democrat, Sen. Joe Manchin of West Virginia voted with most of the Republicans. The Senate vote comes at a time of heightened…
Confounded by a 2023 stock-market rally in defiance of rising geopolitical tensions, a mini banking crisis and widespread expectations of near-imminent recession? You’re not alone — and that’s the point. The stock market’s resilience so far in 2023 is an example of a well-worn but sometimes useful market concept known as the “pain trade.” Tom Essaye, founder of Sevens Report Research, defined it succinctly in a Tuesday note: “The goal of the market is to extract the most amount of pain from the greatest number of people.” As he explained, that means when everyone is bearish, the pain trade will…
Don’t miss these top money and investing features: Sign up here to get MarketWatch’s best mutual funds and ETF stories emailed to you weekly!INVESTING NEWS & TRENDS3 S&P 500 sectors say a new bull market is near. These 8 stocks are top picks. Financials and industrials typically perform best at the end of bear markets. Read More This ETF designed to protect against inflation is attracting inflows as price pressures persist Signs of moderating U.S. inflation haven’t kept some investors from worrying that price pressures will stick around at elevated levels. Read MoreStocks typically fall after the VIX hits the ‘overbought’…
The numbers: Home-shoppers hit the brakes on purchasing homes as mortgage rates rose in the latest week. Demand for mortgages fell 8.8% in the latest week as rates rose for the first time in more than a month. Demand fell for both purchases and refinancing. That pushed the market composite index — a measure of mortgage application volume — down, the Mortgage Bankers Association (MBA) said Wednesday. The market index fell 8.8%, to 209.2, for the week ending April 14 from a week earlier. A year ago, the index stood at 374. Key details: Refinancing, already in the doldrums, fell…
The financial services industry has been laser-focused on reforms to securities-market plumbing recently proposed by the Securities and Exchange Commission, with many of the sector’s most influential leaders and institutions loudly criticizing a proposal that would overhaul how retail trades are executed. Ronan Ryan, president and co-founder of the equities exchange IEX, argued in an interview with MarketWatch that what’s important to most Americans are proposed changes to rules that govern stock exchanges like Intercontinental Exchange Inc.’s ICE, +0.79% New York Stock Exchange and the Nasdaq Inc NDAQ, +3.15%. Ryan argued that most ordinary people “have way more money in…
© Reuters. By Oliver Gray Investing.com – U.S. stock futures were trading lower during Wednesday’s evening trade, after a mixed session among major benchmark averages as investors closely monitored earnings results from companies including Netflix (NASDAQ:) and Morgan Stanley (NYSE:). By 19:00 ET (23:00 GMT), lost 0.1%, fell 0.2%, and declined 0.3%. In extended deals, Tesla (NASDAQ:) fell 5.9% after the company Q1 EPS of $0.85 versus $0.86 expected. Revenues for the quarter came in at $23.3 billion versus $23.78B. International Business Machines (NYSE:) added 1.7% after Q1 EPS of $1.36 versus $1.27 expected, with revenues reported at $14.3B versus…
By Ambar Warrick Investing.com — Oil prices rose in Asian trade on Tuesday as stronger-than-expected GDP data from China boosted optimism over a demand recovery in the country, although fears of rising U.S. rates and a stronger dollar kept gains limited. China’s economy in the first quarter of 2023, indicating that an economic rebound was on track after the lifting of anti-COVID measures earlier this year. The reading also bolstered bets that a recovery in China will drive oil demand to record highs this year. But on the other hand, uncertainty over just how much the rates kept sentiment towards…
By Ambar Warrick Investing.com — Most Asian currencies fell on Thursday and the dollar steadied amid growing fears of more interest rate hikes by major central banks, while concerns over slowing economic growth also kept traders wary of risk-driven assets. The and were flat on Thursday, coming under pressure from gains in the and the following strong inflation reports in the and the . But markets were penciling in a nearly 85% chance that the will hike rates in May, which is likely to support the greenback. This, along with growing bets on a hike in June, spelled weaker prospects…
By Karen Freifeld Reuters) -Seagate Technology Holdings PLC has agreed to pay a $300 million penalty in a settlement with U.S. authorities for shipping over $1.1 billion worth of hard disk drives to China’s Huawei in violation of U.S. export control laws, the Department of Commerce said on Wednesday. Seagate sold the drives to Huawei between August 2020 and September 2021 despite an August 2020 rule that restricted sales of certain foreign items made with U.S. technology to the company. Huawei was placed on the Entity List, a U.S. trade blacklist, in 2019 to reduce the sale of U.S. goods…
