Author: Press Room
Tuesday’s stock setup is looking wobbly, a day ahead of mega consumer price data that could firm up or loosen growing consensus for another Fed rate hike next month. An additional interest-rate rise might serve to entice more investors into money-market funds, investments that might have otherwise have gone into bonds or stocks. That brings us to our call of the day, from LPL Financial’s asset allocation strategist Barry Gilbert, who says it’s time to reconsider a beaten-down, but once-popular investment strategy. “There deservedly was a lot of hand-wringing about the death of the 60/40 portfolio in 2022, a portfolio of 60% stocks…
Switching from the home-work-home commuting cycle to an environment where your home doubles as your office can be unsettling to many, and it comes with unique challenges as well as benefits. But remote work is here to stay for many employees. Experts predict that 36.2 million Americans — a 417% increase from pre-COVID pandemic levels — will be working remotely by 2025. In my almost-20-year-long career, I have not worked a day in what is considered to be a traditional office, so almost nothing changed for me in the pandemic. Here’s how you too can work remotely like a pro:…
The recent stress in the banking sector could reduce the ability of U.S. banks to lend over the next year, and materially lower U.S. economic growth, the International Monetary Fund said Tuesday. The IMF estimated said that lending capacity in the U.S. could fall by almost 1% in the coming year. That would reduce U.S. real gross domestic product by 44 basis points over that time frame, all else being equal, the IMF said. The U.S. economy was only expected to grow marginally even before the bank sector stress of mid-March. According to the latest estimate from the Federal Reserve,…
© Reuters. FILE PHOTO: Barclays’ CEO Jes Staley arrives at 10 Downing Street in London, Britain january 11, 2018. REUTERS/Peter Nicholls/File Photo By Jonathan Stempel NEW YORK (Reuters) -A U.S. judge rejected requests to sever JPMorgan Chase & Co (NYSE:)’s lawsuit accusing former executive Jes Staley of concealing what he knew about Jeffrey Epstein from two related lawsuits over its work for the late sex offender. Monday’s decision by U.S. District Judge Jed Rakoff in Manhattan is a defeat for Staley, who said the scheduled Oct. 23 trial for all three cases left him too little time to defend against…
By Laura Sanicola (Reuters) -Oil prices settled lower on Monday, after rising for three straight weeks, as concern about further interest rate hikes that could curb demand balanced the prospect of a tighter market due to supply cuts from OPEC+ producers. The U.S. dollar rose after U.S. jobs data pointed to a tight labor market, heightening expectations of another Federal Reserve rate hike. Dollar strength makes oil more expensive for other currency holders and can weigh on demand. settled down 96 cents, or 0.2%, at $84.58 a barrel while U.S. West Texas Intermediate also fell 94, or 0.1%, to $79.74.…
By Gabriel Burin BUENOS AIRES (Reuters) – Colombia’s peso will likely stay weak on signs the central bank is turning to a wait-and-see approach on interest rates, combined with downside pressures from the currency’s mismatch against oil prices, a Reuters poll showed. The Andean nation’s currency is set to trade at 4,800 per U.S. dollar at end-June, 4.2% softer than 4,600 on Monday, according to the median estimate of 24 foreign exchange strategists polled March 31-April 4. The peso was one of the worst-performing currencies in the world last year, losing a fifth of its value as investors fretted about…
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of New York President John Williams said on Monday that financial system troubles that drove the central bank to provide large amounts of credit to banks is not collateral damage from the Fed’s aggressive effort to lower inflation. “I personally don’t think the pace of rate increases was behind the issues at the two banks back in March,” Williams said at an event held at New York University. The central banker, who is also vice-chairman of the rate-setting Federal Open Market Committee, was referring to the failures of Silicon…
The recent uncertainty in the banking sector presents an urgent question for bank leaders: how can we convince our customers that their money is safe with us? Some new industry research suggests a surprising and powerful answer. Accenture surveyed 49,000 bank customers around the world and found that two-thirds of them like seeing bank branches in their neighborhoods as it confirms the stability and availability of their bank. This was consistent across all geographies and all age groups. This finding raised many eyebrows, including my own. Why would so many consumers, in our digital-dominated world, feel this way about brick-and-mortar…
Key News Asian equities were higher overnight. The most significant catalyst overnight was China’s inflation numbers which are the envy of central bankers globally as CPI was 0.7% versus expectations of 1% and February’s 1%, and PPI was -2.5% versus expectations of -2.5% and February’s -1.4%. The data provides policy makers stimulus runway. March aggregate financing, money supply (M2), and new loans all beat expectations (RMB 5.38 trillion versus expectations RMB 4.5 trillion; M2 was up +12.7% versus expectations 12.7%; New Loans RMB 3.89 trillion versus expectations RMB 3.3 trillion). Within the loan data, housing loan demand increased, which we…
Key takeaways Lithium production has skyrocketed and isn’t set to slow down this decade as EVs continue to scale up Lithium prices have dropped over 55% in less than six months – great news for EV companies, not as good for lithium miners The long-term future of lithium looks bright as long as countries continue to cooperate with suppliers Who knew a light metal would be the star of the show on the stock market? Lithium is set to be the next battleground, as countries ramp up their own domestic efforts to harness the material that powers electric vehicle (EV)…
