Wall Street and global stocks made up little ground on Friday, with government bond yields and the dollar holding near recent peaks, as higher-than-expected inflation continued to weigh on markets.
Some of the Revlon Inc. creditors who were accidentally sent more than $900 million by Citigroup Inc. asked a federal appeals court for a rehearing, after it ruled that they had to give the money back
Nine of the 11 major S&P sectors declined, led by a drop of 2% in consumer discretionary and 1.5% in financial stocks; Eli Lilly up on FDA approval for cancer drug
World shares were mostly higher on Thursday after a wobbly day of trading yielded modest gains on Wall Street. Germany's DAX added 0.4 per cent to 13,075.05 while the CAC 40 in Paris edged 0.1 per cent higher to 6.230.03. Britain's FTSE 100 climbed 0.6 per cent to 7,320.71. The futures for the S and P 500 and the Dow industrials were up 0.3 per cent. A report on inflation at the wholesale level released on Wednesday showed that prices are still rising rapidly, with pressures building underneath the surface, even if overall inflation slowed. It echoed a report on inflation at the consumer level on Tuesday, which raised expectations for interest-rate hikes and triggered a rout for markets. Investors worry rate hikes by the Federal Reserve to cool surging prices could go too far in slowing the US economy and send it into a recession. The Fed is trying to avoid that outcome, but the latest inflation reports suggest that is becoming a more difficult task. But markets appeared to have
Shares climbed Monday in Europe and Asia after last week's strong close on Wall Street snapped a three-week losing streak. Many Asian markets were closed for holidays. US futures rose while oil prices turned higher. Investors are watching for US inflation figures and Chinese economic data this week. The US Labour Department will release its report on consumer prices for August on Tuesday and a report on wholesale prices on Wednesday. On Thursday, Wall Street will get an update on retail sales for August. Germany's DAX climbed 1.3% to 13,2595 while the CAC 40 in Paris gained 1% to 6,273.58. Britain's FTSE 100 was up 1.1% at 7,430.66. The future for the S&P 500 was 0.4% higher while that for the Dow industrials gained 0.3%. Coronavirus cases are still casting a shadow in China, where about 65 million Chinese were under lockdown as of last week despite just 1,248 new cases of domestic transmission, mostly asymptomatic, being reported on Sunday. All in all, the lower-for-longer grow
All eyes on August nonfarm payrolls report on Friday; Nvidia, AMD falls after US export ban on AI chips to China
Welcome to the worst month of the year for Wall Street. Since 1950, September has brought an average loss of 0.5 per cent for the S and P 500. That's 10 times worse than the next-worst month, February. September is also the only month of the year over that span to turn in a loss more often than a gain. Other months see the S and P 500 rise more than three times out of five. Stretch the horizon even further, back to 1928 to include a world war, the Great Depression and completely different types of economies, and September is still the most frequent stinker for Wall Street. No clear reason explains September's struggle, though many hypotheses try. One suggests the return of many professional investors from summer vacations may add to the selling pressure, for example. Last year, the S and P 500 fell 4.8 per cent in September for its first loss in eight months. At the time, worries were brewing about when the Federal Reserve would take its foot off the economic stimulus ...
Global shares were lower on Thursday, tracking a broad slide on Wall Street, as investors braced for higher interest rates and inflation worries for some time. France's CAC 40 declined 1.6 per cent to 6,025.93 in early trading, while Germany's DAX slipped 1.6 per cent to 12,633.32. Britain's FTSE 100 was down 1.6 per cent at 7,164.45. US shares were set to drift lower, with Dow futures falling 0.6 per cent to 31,350.00 and S and P 500 futures declining nearly 0.8 per cent to 3,926.00. Benchmarks finished lower in Asia. Japan's benchmark Nikkei 225 dipped 1.5 per cent to finish at 27,661.47. Australia's S and P/ASX 200 dropped 2.0 per cent to 6,845.60. South Korea's Kospi shed 2.3 per cent to 2,415.61. Hong Kong's Hang Seng lost 1.8 per cent to 19,597.31, while the Shanghai Composite declined 0.5 per cent to 3,184.98. Oil prices fell. The slide in the Nikkei came despite signs of improvement in the Japanese economy. A study by the Finance Ministry on corporate financial statements
Firms like Carlyle have sought to convince outsiders that they would cede control to a younger class of executives
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While last week's strong jobs report allayed fears of recession, inflation numbers this week showed the largest month-on-month deceleration of consumer price increases since 1973
For their part, Fed officials have over the past week opposed the narrative of a so-called dovish pivot
The firm's shares fell 9.5 per cent at 1:13 pm in New York after the announcement
Stock rally eases slowdown fears
Boeing Co. reported a $193 million profit for shareholders in the second quarter, but the results fell short of Wall Street targets for earnings and revenue as its defense business weakened
Tesla shares rise as profit tops expectations; airlines slide after United, American report earnings; energy stocks lead sectoral declines
Netflix Inc may have calmed investors' worst fears with a second-quarter subscriber loss that was better than expected
Netflix, once a darling of Wall Street, is suddenly on the ropes, media reports said.