U.S. stocks traded lower on Thursday, erasing most of their gains from their biggest rally in three weeks after a round of upbeat economic data and a warning from hedge-fund titan David Tepper that he was “leaning short” against both stocks and bonds on expectations the Federal Reserve and other central banks will continue tightening … Read more
As the Fed kicks off its two-day interest-rate setting meeting, the focus is on whether Jerome Powell & Co. stick to their hawkish tone or indicate the pace of rate hikes may slow down. Certainly, there’s valid reason for at least slowing down, after another jumbo rate hike is delivered on Wednesday. Inflation at a … Read more
This may surprise you: Wall Street analysts expect earnings for the S&P 500 to increase 8% during 2023, despite all the buzz about a possible recession as the Federal Reserve tightens monetary policy to quell inflation. Ken Laudan, a portfolio manager at Kornitzer Capital Management in Mission, Kan., isn’t buying it. He expects an “earnings … Read more
A decline in gasoline prices couldn’t mask the problem that spooked investors on Sept. 13: Core consumer prices resumed their rapid increase during August. Fear of the Federal Reserve’s ongoing tightening of monetary policy to fight inflation sent the Dow Jones Industrial Average DJIA, -3.94% down 1,276 points (or 3.9%) to 31,104, with all 30 … Read more
U.S. stocks traded mixed at the noon hour on Thursday with the S&P 500 and Nasdaq Composite headed for back-to-back gains following a batch of strong economic data as investors waited to hear from Federal Reserve Chairman Jerome Powell. How stocks are trading S&P 500 SPX, +0.80% rose 18 points, or 0.4%, to 4,158. Dow … Read more
Text size Packages ready to be sent at an Amazon center. Thomas Samson/AFP via Getty Images Some major companies, including Tesla and Amazon . com, are likely to face higher tax bills under the $750 billion Inflation Reduction Act, which was approved in the House on Friday. The legislation was approved in the Senate on … Read more
Text size Nvidia stock has declined 10% this year, while the Nasdaq Composite has fallen 18%. Justin Sullivan/Getty Images Nvidia shares plunged after the chip manufacturer shared preliminary financial results for the second quarter. Nvidia (ticker: NVDA ) is expecting revenue to be $6.7 billion, well below guidance and estimates calling for $8.1 billion. The … Read more
Listen to article (2 minutes) Technology stocks have taken a beating this year. Many individual investors have used it as an opportunity to double down. The Nasdaq Composite Index—home to the big tech stocks that propelled the market’s decadelong rally—has fallen 21% in 2022. Shares of Amazon.com Inc. and the parents of Google and Facebook … Read more
Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’m Frances Yue, crypto reporter at MarketWatch, and I’ll walk you through the latest and greatest in digital assets this week so far. Find me on Twitter at @FrancesYue_ to send feedback, or tell us what you think we … Read more
Technology stocks slid Wednesday, putting pressure on the broader market ahead of the Federal Reserve’s interest-rate decision. The S&P 500 fell 0.3% in New York trading. The tech-focused Nasdaq Composite Index shed 1.1%, while the Dow Jones Industrial Average was about flat.