S&P 500, Dow hit records, boosted by bank earnings surprise
The S&P 500 and the Dow scored record closing highs on Friday, with the biggest boosts from financial stocks after banks reported strong quarterly results while the latest inflation data supported expectations for a U.S. Federal Reserve rate cut in November. Major financial companies kicked off earnings season with JPMorgan Chase rallying after the lender…
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5 world market themes for the week ahead
It’s a packed week ahead with U.S. inflation data, the start of Q3 earnings, a French budget and possibly a big rate cut from New Zealand. Investors are also on edge as Middle East tensions escalate, while Japan’s new Prime Minister Shigeru Ishiba is in the spotlight. 1. ONE YEAR OF WAR One year on…
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Ed Yardeni sees Fed pausing rate cuts for 2024 after jobs report
The Federal Reserve’s monetary-easing campaign for 2024 may already be over as the strong labor report Friday underscores the stubborn resilience of the world’s largest economy, according to Wall Street veteran Ed Yardeni.Further policy easing would risk sparking inflation just as oil prices rebound and China seeks to jump start its economy, according to the…
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China bulls getting tired of waiting for elusive stock recovery
Weakness in Chinese equities is eroding the confidence of some of Wall Street’s staunchest supporters, with hopes for a turnaround fading in the world’s No. 2 economy. Over the past two weeks, long-standing China bulls UBS Global Wealth Management, Nomura Holdings Inc., and JPMorgan Chase & Co. have all downgraded the country’s equities, citing concerns…
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