The end of the bear market is not close. That’s according to a contrarian analysis of stock market sentiment: the U.S. stock market hasn’t yet experienced the extreme pessimism seen at major bottoms. It may certainly feel like there’s plenty of pessimism and despair on Wall Street. But that bearishness seems a mile wide and…
Gold prices were headed for a modest weekly loss on Friday, while recession worries continued to weigh on copper, poised for its biggest one-week fall in over a year. What are prices doing? August gold GC00, -0.06% GCQ22, -0.06% slipped $1.70, or 0.1%, to $1.828.10 an ounce, following Thursday’s decline of 0.5%. That took it…
Crude prices were set to rise for the first session in three on Friday, though set for a weekly loss as the market has tried to buck worries over economic slowdowns that could cut into demand. Price action West Texas Intermediate crude for August delivery CL00, +1.41% CL.1, +1.41% CLQ22, +1.41% CL.1, 1.00% CL00, 0.99% CLQ22, 1.00% rose $1.35, or 1.3%…
Oil-industry representatives on Thursday described a meeting with a top Biden administration official as “constructive,” while the White House said the huddle was “productive,” as both sides face pressure due to high gasoline prices. President Joe Biden last week had called for major U.S. oil CL00, -2.05% refiners to take part in the “emergency meeting”…
Stocks are on the rebound again, at least that’s the vibe from futures. That’s a day after Federal Reserve Chair Jerome Powell confirmed to lawmakers, what markets already knew — that a soft economic landing might be tricky while taming the inflation beast. Along with average investors, hedge funds have had a rough start to…
U.S. stock index futures on Thursday pointed to a higher start, with the hard-hit technology sector seeing some relief from the recent downturn in bond yields. What’s happening Futures on the Dow Jones Industrial Average YM00, +0.50% rose 33 points, or 0.1%, to 30504 Futures on the S&P 500 ES00, +0.77% gained 12.5 points, or…
Toshiba Corp. shares 6502, +3.54% gained on a report that bidders may offer up to 7,000 yen ($51.38) a share to take the Japanese conglomerate private. Shares rose as much as 6.5% to 5,858 yen in Thursday morning trade before paring gains to Y5,765. The stock was last up 4.5% at Y5,747. Reuters reported that…
High inflation will limit President Joe Biden and the leaders of other advanced economies as they consider further sanctions on Russia in response to its ongoing war on Ukraine, said one expert ahead of next week’s Group of 7 summit. “Ukraine is going to loom large, and the big question is around whether this group…
Gold futures finished modestly lower on Wednesday, down a third session in a row, as Federal Reserve Chairman Jerome Powell said in testimony before the Senate Banking Committee, that ongoing interest-rate increases will be “appropriate.” Worries about an economic slowdown, meanwhile, helped prices for copper — a metal that’s often seen as an indicator of…
Recession worries were back in the spotlight for Wall Street on Wednesday, with U.S. stocks opening lower and oil prices dropping, as investors tune in to Congressional testimony from Federal Reserve Chairman Jerome Powell. How are stock indexes trading? The Dow Jones Industrial Average DJIA, -0.50% declined 260 points, or 0.9% to around 30,280 The…
Used-car consignment and marketplace CarLotz Inc. said late Tuesday it will lay off about a third of its workforce and close stores as it seeks to remain in business. CarLotz LOTZ, -3.78% said it would close 11 of its dealerships, as part of a “strategic review” of its business. In addition, three locations with existing…
Mention semiconductors and chip giants such as Intel Corp., Advanced Micro Devices Inc. and NVIDIA Corp. spring to mind, but there are other, less high-profile companies, operating in the space that deserve attention. The pandemic has kept semiconductors firmly in the spotlight as a host of industries, from consumer technology to the automotive sector, wrestle…
Despite a flurry of macroeconomic pressures, Wall Street analysts still feel very bullish about the stocks they cover. That’s according to FactSet’s senior earnings analyst, John Butters, who noted that the number of buy ratings on stocks remains “unusually high,” despite broader-market concerns about inflation, interest rate hikes, the war in Ukraine, falling stock prices…
U.S. stocks rose sharply on Tuesday after a three-day holiday weekend, following the worst weekly performance for equities in more than two years. What’s happening The Dow Jones Industrial Average DJIA, +1.95% was up 545 points, or 1.8%, at 30,433. The S&P 500 SPX, +2.63% gained 95 points, or 2.6%, to trade at 3,769. The…
An unwind of the stock market’s best performing sectors had to happen eventually. And that may be just what this bear market ordered, according to Jonathan Krinsky, chief market technician at BTIG. Since June 8, energy, utilities and materials have been the S&P 500’s SPX, +0.22% worst-performing sectors, dropping 20%, 12% and 14% respectively, he…
The U.S. economy should continue to grow in the coming several months, said St. Louis Fed President James Bullard on Monday, playing down fear of a severe recession that some economists and market pros view as inevitable in the face of the central bank’s war against too-hot inflation. “On GDP growth, I think that the…
Federal Reserve Gov. Christopher Waller said Saturday that he would like to see another 75 basis point interest rate hike at the next policy meeting in late July. Waller supported the Fed’s decision to raise its benchmark rate by 75bp last week to a range of 1.5-1.75%. That was the largest rate hike since 1994….
Technical strategist Tom DeMark in March said bitcoin could fall as low as $18,418 — back when the cryptocurrency was trading as high as $48,000. A volatile weekend had bitcoin BTCUSD, -1.48% briefly trading below $18,000, as it traded around $20,000 on Monday, down some 70% from its Nov. 10 peak of $68,924. Bitcoin has…
BERLIN—Germany will restart coal-fired power plants and offer incentives for companies to curb natural gas consumption, marking a new step in the economic war between Europe and Russia. Berlin unveiled the measures Sunday after Russia cut gas supplies to Europe last week as it punched back against European sanctions and military support for Ukraine. The…
A week after freezing withdrawals, embattled crypto lending platform Celsius Networks Ltd. said Sunday that that it will “take time” to stabilize its liquidity and operations. Last Sunday, Celsius, one of the largest crypto lending platforms, announced it was “pausing” withdrawals, swaps and transfers “due to extreme market conditions.” In a blog post Sunday, the…
Bitcoin prices rallied Sunday, topping the $20,000 level again after falling to an 18-month low Saturday amid a weeks-long cryptocurrency rout. Bitcoin BTCUSD, -0.24% surged about 16% in the past 24 hours, as of 5 p.m. Sunday, to $20,598, making up for much of its Saturday losses, when it slid as low as $17,630, according…