Capital Economics predicts that mortgage rates in the United States are unlikely to fall below 6% before the end of 2025, due to higher forecasts for U.S. Treasury yields, which will dampen housing affordability and sales volumes.
China's economy is facing serious threats as it continues to struggle post-COVID, with the property market troubles presenting a larger risk to the wider economy than moral hazard concerns.
Major automakers, including Mercedes-Benz, are facing challenges in the electric vehicle market due to waning customer demand, high interest rates, and intense price competition with Tesla and Chinese competitors. The slow growth of EV sales and ongoing strikes in the industry are further impacting the adoption of EVs.
The S&P 500 Index is testing its support level at 4200 and has fallen below the 200-day Moving Average, signaling a distinct downtrend, while market breadth and new lows on the NYSE are indicating a negative market sentiment, although a strong seasonal bullish pattern at the end of October may provide some relief.
There is a video playing in picture-in-picture, and various shows are currently airing on Fox Business Channel, Fox News Channel, and Fox News Radio. Additionally, there is a live stream of the Gaza-Israel conflict on Fox News Channel.
The "Magnificent Seven" group of megacap technology stocks, including Alphabet, Microsoft, and Apple, have broken below a bearish technical price chart pattern called a "triple top," potentially signaling more losses ahead.
Mexican distiller Becle, the largest tequila producer in the world, lost $1.54 billion in market capitalization due to a share selloff caused by a stronger peso, leading to the company's lowest-ever quarterly net incomes and a significant decline in stock prices.
The US economy is defying gravity and showing no signs of a recession, with strong GDP growth, a solid labor market, and low inflation, leading JPMorgan portfolio manager Phil Camporeale to advise investors to purchase high-yield bonds.
The S&P 500 is at risk of a technical breakdown, but oversold extremes and potential rebound indicators suggest that a reversal in stock prices could be imminent, according to Fairlead Strategies' Katie Stockton.
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Despite the general decline in the real estate investment trust (REIT) market, Tanger Factory Outlet Centers, Omega Healthcare Investors, and Iron Mountain Inc. have managed to thrive and show significant returns since the beginning of 2022.
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Stock losses continued to accelerate in afternoon trading as investors reacted to disappointing Big Tech earnings reports and rising bond yields, with the tech-heavy Nasdaq leading the declines, down about 2%.
Global stocks fall and U.S. Treasury yields remain near 5% as investors process mixed signals from the U.S. economy, with stronger-than-expected growth but softer business investment, prompting concerns about inflation and potential interest rate hikes from the Federal Reserve.
Big Tech stocks, which were previously driving the S&P 500, are now declining and affecting the overall market.
Baby boomers have benefited the most from a massive wealth transfer, particularly in the housing market, while millennials are being crushed by high mortgage rates and limited supply.
The Federal Reserve's policies and economic headwinds have created a generational opportunity for investors to shift capital from equities to fixed-income, according to Brandywine Global Portfolio Manager John McClain.
Latin American currencies were mostly stable as investors evaluated corporate earnings in Mexico and awaited Chile's interest rate decision, while Brazil's real slipped after data showed a continued downward trend in domestic inflation.
Mercedes-Benz expects to hit the lower end of its adjusted return on sales forecast for its electric vehicle (EV) division due to intense competition, price cuts, and supply chain issues in the EV market, leading the luxury carmaker to focus on improving returns from its combustion engine portfolio.
The price of the memecoin Pepe (PEPE) has doubled in a week to a $500 million market cap as traders anticipate a bitcoin spot ETF-induced bull market.
The U.S. economy grew faster than expected in the third quarter, driven by robust consumer spending and resilient labor market, despite warnings of a recession; however, growth may slow in the fourth quarter due to factors such as auto worker strikes and student loan repayments.
The current market correction is causing uncertainty about whether we are still in a bull market or entering a bear market, but historical data suggests that the bull market is not over and a correction is to be expected.
Two top healthcare stocks, Vertex Pharmaceuticals and Intuitive Surgical, have shown consistent profitability and have the potential for generous growth in the years to come. Vertex is a biotech company with profitable genetic illness treatments and a promising pipeline, while Intuitive Surgical is a leading provider of surgical robotics systems with recurring revenue sources.
Vertex Pharmaceuticals, a large-cap biotech company, has shown impressive performance thanks to its top-selling cystic fibrosis treatment, Trikafta, which has no viable competitors, and its potential for regulatory approval in sickle cell disease and other high-value candidates, making it a top growth stock.
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The surge in long-duration Treasury yields may only stop climbing when a recession begins, mirroring the 1969 Fed tightening cycle, according to JPMorgan.
Stocks opened lower as investors digest disappointing Big Tech earnings and rising bond yields, with the Nasdaq and S&P 500 dropping about 0.5% and 0.4%, respectively, while the Dow Jones Industrial Average remained flat. The US economy grew at its fastest pace in nearly two years, with a 4.9% increase in GDP, driven by strong consumer spending. Stock futures point to a continuation of the sell-off as investors anticipate more earnings releases.
Market signals from investors in Europe are sending mixed messages, indicating concerns over Italy's debt, skepticism towards the EU's joint debt issuance, and confidence in Europe's environmental ambitions.
The article discusses economic data, commodities, and markets in the October 28th, 2023 edition of The Economist.
The global market for ESD (electrostatic discharge) protection devices is expected to reach $4.4 billion by 2031, driven by the increasing reliance on electronic components and the need for safeguarding against electrostatic discharges, particularly in smaller and more compact electronic devices.
Nigeria's naira hits a record low of 1,300 per dollar on the black market due to thin trading volumes and dollar shortages, despite expectations of foreign currency inflows.
Despite a decline in the smartphone market, China's shipments rose in Q3 2023, with Honor leading the market, followed by Oppo and Apple, as companies focus on closer collaborations with retailers to stimulate consumer upgrades and brand switches.
World shares and oil prices are declining ahead of an update on the US economy, with high interest rates taking a toll on stocks and the housing market, and uncertainty over the economic outlook impacting global markets.
Hedge funds are experiencing a resurgence as investors seek protection from market volatility and uncertain economic conditions, despite their overall underperformance compared to index funds in the past.
India has increased imports of lentils from Canada, its top supplier, despite recent tensions between the two countries, with steady supplies helping to meet the country's demand for the protein-rich staple used in daal curry.
The chairman and CEO of The Peebles Corporation, Don Peebles, warns that rising interest rates could lead to significant problems in the commercial real estate industry, causing vacancies and lease cancellations, and creating headwinds in the economy.
State Street Senior Global Macro Strategist Marvin Loh expresses concerns about the Federal Reserve's data-dependent strategy, stating that it has created risk and volatility in the market, making it difficult to believe in a soft landing for the U.S. economy.
Warren Buffett advises individuals to invest in low-cost S&P 500 index funds for long-term growth, rather than trying to time the market, as investing in individual stocks is more profitable over the long term.
### Summary As earnings season approaches, investors looking for safe bets and potential stock growth might consider Apple, Microsoft, and Alphabet due to their dominance in the tech industry, their expanding business segments, and their strong financial performances.
The rapid rise in interest rates has startled investors and policymakers, with the 10-year U.S. Treasury yield increasing by a full percentage point in less than three months, causing shock waves in financial markets and leaving investors puzzled over how long rates can remain at such high levels.
Big tech earnings are providing conflicting signals, leaving investors uncertain about the market's direction, as both Microsoft and Google reported mixed results and the stock market remains volatile.
The Asian financial markets are experiencing turmoil as the region's currencies decline and foreign capital outflows increase due to the divergence in global monetary policies and the rise in US Treasury bond yields, although Asian economies are in a stronger position now than they were a decade ago.
Mercedes-Benz expects lower returns on sales for its electric vehicle division due to heavy price cuts and supply chain disruptions, while its third-quarter earnings fallen by 6.8%, prompting concerns about the sustainability of the current electric vehicle market.
Japanese policymakers maintain their warning against selling the yen as it weakens to a one-year low against the dollar, keeping pressure on the Bank of Japan to adjust its ultra-low rate policy.
The European Central Bank (ECB) is expected to keep interest rates at present levels into 2024, as the recent slowdown in price rises and geopolitical tensions pose risks to the eurozone's macro-economic momentum; meanwhile, the US is forecasted to have experienced strong GDP growth at an annualized rate of around 4.3% in July-September, indicating resilience in consumer spending despite higher interest rates. Unilever has reported underlying sales growth of 5.2% driven by price increases, but sales volumes of ice cream fell by 10.1% due to consumer downtrading and unfavorable weather.
Europe's energy strategy banks on hopes of mild weather and reduced industrial demand, but a wave of new LNG projects, set to tip the balance of markets, could bring about a new era of abundant liquefied natural gas supplies from the US and Qatar by 2025, transforming the gas market into a buyer's market.
Europe's hiking cycle is over as weak lending data and purchasing managers' surveys indicate no chance of a European Central Bank (ECB) rate hike and a possible recession, with attention turning to earnings reports and the behavior of yields and the yen.
The Downtown Sacramento farmer's market at Capitol Mall was extended through October, benefiting farmers and vendors and providing extra income for new businesses.
Oil prices remain stable as the market assesses tensions in the Middle East and higher U.S. crude stockpiles, with concerns about weak demand and macroeconomic factors limiting price gains.
The rebound in ad businesses of Google, Meta, and Snap indicates that the adoption of artificial intelligence is attracting marketers to digital platforms, even in an uncertain economy.