How the tides have turned in a few weeks: after a muted month for tech in February, investors are flocking back into the sector amid tumbling yields and turmoil in the banking sector. Market watchers are weighing the potential for a smaller interest rate hike or even a pause by the U.S Federal Reserve this … Read more
Energy stocks dropped last week as oil prices fell to a 15-year low , with the banking crisis roiling markets. The energy sub-sector in the S & P 500 dropped 7% last week, although it has since regained some ground, rising more than 2% in Monday’s session. Oil prices also rose over 1% on Monday. … Read more
Traders on the floor of the NYSE, July 12, 2022. Source: NYSE Stock futures were little changed Tuesday evening as investors braced for the Federal Reserve’s next move in its inflation-fighting rate hiking plan. Futures tied to the Dow Jones Industrial Average lost 9 points, or 0.03%. S&P 500 futures added 0.01% and Nasdaq 100 … Read more
Investors have been scooping up energy names amid a recent drop in oil prices, according to Bank of America. Oil prices touched a low dating back to December 2021 on Monday. The energy sector of the S & P 500 is down more than 3% for the month. The Energy Select Sector SPDR Fund (XLE) … Read more
My top 10 things to watch Tuesday, March 21 1. Systemic risk or First Republic (FRC) risk? FRC shares, which lost most of their value, jump nearly 30% after Treasury Secretary Yellen says the government could backstop more deposits if necessary to stop contagion. The Dow , the S & P 500 and the Nasdaq … Read more
Amazon ‘s (AMZN) announcement Monday to eliminate another 9,000 employees in the coming weeks is a step in the right direction. But management has not gone far enough to reduce its bloated workforce and cut costs across the organization. The new Amazon cuts, which bring its recent total to 27,000, follow other tech layoffs. Meta … Read more
Add up the recent bank failures, geopolitical shocks and uncertainty about central bank policy and you get the potential for a “Minsky moment” in markets, according to JPMorgan Chase. Marko Kolanovic, the firm’s chief market strategist and co-head of global research, warned that the current conditions of unsustainable speculation and easy policy are ripe for … Read more
Stocks with strong balance sheets are gaining favor as the broader market whipsaws amid the ongoing bank crisis. Goldman Sachs’ basket of 50 S & P 500 companies with strong balance sheets has outperformed its weak balance sheet basket by six percentage points since March 8, the day Silicon Valley Bank’s downward spiral began , … Read more
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. Look for buying opportunities Buy Starbucks Watch Nvidia 1. Look for buying opportunities Stocks ticked largely higher to start the trading week Monday after UBS reached an agreement to buy … Read more
What a bizarre year so far: a huge rally in January, a major setback in February, and now a catastrophe in the mid-tier banking world – one that took almost everyone by surprise. It’s enough to make you want to hide in a bunker or at least stuff your money under the mattress. However, whatever … Read more