The US banking industry could face a significant drop in stock prices within the next 16 months if the economy enters a recession, according to macro guru Hugh Hendry.
US stocks recover from early losses but end the week with sharp drops as the August slump continues, while investors consider the possibility of higher interest rates and concerns over China's economic troubles.
Stocks fell on Thursday as strong earnings from Nvidia were overshadowed by comments from the Federal Reserve signaling that interest rates will remain elevated for a long time to combat inflation.
The drop in US stocks on Thursday, despite a positive forecast from Nvidia, suggests that the market rally is exhausted and further declines are expected, according to Morgan Stanley's Michael Wilson.
U.S. stocks rebounded as Federal Reserve Chair Jerome Powell kept options open for more interest rate hikes, with the Nasdaq leading the gains and finishing the week up 2.2%.
Stocks were relatively unchanged as investors awaited new economic indicators and data on the health of the US economy, including consumer confidence, jobs openings, and inflation reports, which could impact expectations for future interest-rate rises from the Federal Reserve.
The US dollar dropped to a two-week low against the euro and other currencies after data revealed lower than expected private payroll growth in August, leading to speculation that the Federal Reserve will halt interest rate increases.
U.S. stocks rose after August jobs data showed a slowdown in the pace of job gains, calming investor concerns about the Federal Reserve raising interest rates, with the Dow Jones Industrial Average rising 0.5%, the S&P 500 up 0.4%, and the Nasdaq Composite gaining 0.3%.
U.S. stocks slipped as worrying data out of China and a spike in oil prices following the extension of Saudi Arabian production cuts weighed on the market. The Dow Jones Industrial Average fell 0.6%, while the S&P 500 lost 0.4% and the Nasdaq dipped 0.1%.
Stocks were lower on Tuesday as September began, with oil prices reaching new highs and Treasury yields rising, putting pressure on the market, while traders awaited more economic data to determine the likelihood of another rate hike from the Federal Reserve.
Stocks fell on Wall Street as concerns about inflation and weakening global demand weighed on investor sentiment, raising doubts about the Federal Reserve's plans to cut interest rates.
US stocks are experiencing their worst performance in September since 1928, but there are signs that the market could avoid a steep downturn this year, with indicators suggesting more stability and positive gains for the rest of the year, according to Mark Hackett, chief of research at US investment firm Nationwide. However, challenges such as elevated oil prices and inflation could put strain on the stock market and the US economy.
US stocks traded mixed on Thursday as fresh data indicated a tight labor market, with weekly jobless claims unexpectedly falling and second-quarter unit labor costs being revised up, potentially increasing pressure on the Federal Reserve to keep rates higher for longer.
Stock futures slipped on Friday as officials hinted the Federal Reserve may keep interest rates unchanged, causing tech stocks, particularly Apple, to fall, although the company's shares stabilized after dragging down the Nasdaq.
US stocks rose as the dollar fell, with technology stocks leading the way, and Treasury Secretary Janet Yellen expressing optimism about a potential soft landing in the economy.
Stock indices closed in the red, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all experiencing declines, while the technology sector underperformed and the energy sector led the session. The U.S. 10-Year Treasury yield dropped, while the Two-Year Treasury yield increased. The Small Business Optimism Index for August decreased, with inflation cited as a major concern among small business owners. Stocks opened lower on Tuesday, and U.S. futures trended lower as well. This week's focus will be on the Consumer Price Index and Producer Price Index data, which could impact the Federal Reserve's decision on rate hikes. Oracle's stock fell after missing sales estimates, while Casey's General and Tesla saw gains. JPMorgan's CEO criticized new Basel III regulations, and European indices traded in the green. In Asia-Pacific, markets ended mixed as traders await U.S. inflation data.
Stocks declined amid speculation that US inflation data will show persistent price pressures, increasing the likelihood that interest rates will remain elevated; market focus is on the US consumer price report.
Stocks fell on Friday, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all declining, but Wall Street is on track for a winning week.
US stocks opened lower on Friday after failing to build on a Thursday rally, as concerns about the world's second-largest economy and a historic strike by the United Auto Workers union weighed on investor sentiment.
US stocks slumped as reports of China's recovering economy caused concern, potentially impacting global stock exchanges, while the US auto workers' strike and oil price rallies also contributed to market fluctuations.
Stocks fell at the end of a volatile week, with traders taking a step back to assess the week's events and concerns about the triple-witching day, while U.S. crude futures climbed to a 2023 high of $90.77 per barrel, reflecting improving economic data and the potential for $100 oil.
U.S. stocks dropped as enthusiasm for Arm's IPO faded and the United Auto Workers initiated a strike against Detroit's Big Three automakers, with the Nasdaq falling 1.6% and the S&P 500 losing 1.2%.
Stocks mostly lower as investors await Federal Reserve's interest rate decision and assess new economic data showing easing core inflation and a cooling labor market, with expectations high for the Fed to hold rates steady.
Economist Nouriel Roubini predicts a 10% drop in US stocks due to slowing global growth, high oil prices, and inflation, urging investors to short US stocks for the remainder of the year.
Stocks slipped as the Federal Reserve's policy meeting began and investors awaited an update on the IPO market, with Instacart expected to start trading, while the focus remains on the Fed's fight against inflation and future interest rate moves.
U.S. stocks were lower on Tuesday as oil prices and bond yields rose ahead of the Federal Reserve's interest rate decision, with investors watching for guidance on future rate hikes and inflation threats.
U.S. stocks fell and Treasury yields surged ahead of the Federal Reserve's interest rate decision, while Instacart shares surged 12% on their first day of trading on the Nasdaq.
U.S. equities fell as the Fed began its policy meeting and the 10-year Treasury yield reached a 16-year high, with Walt Disney shares dropping after announcing increased spending on theme parks and cruises, and Cboe Global Markets shares rising following a CEO change.
Stocks closed lower on Tuesday due to uncertainty surrounding the Federal Reserve's future policy plans, as rising oil prices and concerns about inflation and interest rates weighed on investor sentiment. The Fed's decision on interest rates is expected to remain unchanged, but there is uncertainty about their next steps.
US stocks slumped as investors prepare for the Federal Reserve's upcoming interest rate decision, with all three benchmark indexes ending the day lower.
The dollar strengthens and stocks decline as the Federal Reserve delivers a "hawkish pause" during the Fed meeting, with updates on the interest-rate decision, dot plot, and Jerome Powell press conference.
Dow Jones futures, as well as S&P 500 futures and Nasdaq futures, dropped after the Federal Reserve meeting, with the stock market retreating and breaking below critical levels due to the Fed's decision to stick with forecasts for one more rate hike this year and hinted that rates would stay higher for longer.
Asia-Pacific markets fell after the U.S. Federal Reserve projected a rate hike, while New Zealand's GDP exceeded expectations, Hybe shares slid despite BTS contract renewals, and analysts identified Chinese internet stocks with potential. Also, the Fed left rates unchanged but expects one more hike this year, Cathie Wood praised an AI company, analysts favored small-cap stocks, and interest rate markets signaled a delay in future rate cuts.
Stocks are preparing for further declines as Federal Reserve Chair Jerome Powell plans to be cautious in future rate hikes, despite consumer resilience in the face of rising energy prices and student loan payments.
Tech stocks led a retreat on Wall Street as investors were concerned about the Federal Reserve's hawkish stance and its decision to keep interest rates steady, causing the S&P 500, Dow Jones, and Nasdaq Composite to decrease; Goldman Sachs has delayed its forecast for a Fed rate cut to the fourth quarter of 2024.
The U.S. stock markets closed in the red as the Federal Reserve kept the federal funds rate unchanged, leading to losses in sectors such as communication services and information technology, while Asian stocks fell due to concerns over higher U.S. interest rates.
U.S. stocks fell for a third consecutive day as Treasury yields continued rising, the Bank of England kept interest rates unchanged, Cisco is acquiring Splunk for $28 billion, Rupert Murdoch is stepping down as chairman of Fox Corp and News Corp, investor Steve Eisman believes the banking sector is "uninvestable," and investor interest in AI is starting to wane.
Stocks fell for a third consecutive day as Treasury yields continued to rise, causing pessimism in the market and leading to declines in major indexes.
US stocks are slightly higher on Friday but are on track for a losing week due to a spike in bond yields and surging oil prices.
U.S. stocks are set for hefty weekly drops following the Federal Reserve's hawkish stance, while the Bank of Japan maintains its accommodative monetary policy, causing the yen to fall; Microsoft's acquisition of Activision Blizzard could receive U.K. approval; an expansion of the UAW strike is imminent; and oil prices rebound after Russia's export ban.