Morgan Stanley turns ‘outright bullish’ on stocks in Asia, emerging markets

Key Points “We believe it is time to turn overweight on Growth stocks in Asia/EM again,” Morgan Stanley strategists said in a note. Morgan Stanley forecasts Hong Kong’s Hang Seng Index to gain another 28% from current levels by the end of this year and China’s CSI 300 to gain another 14% Morgan Stanley strategists … Read more

Stock futures are flat as investors await key Fed policy decision: Live updates

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

Biden used first veto to save a 401(k) investment rule. Here’s what it does

Photographer: Samuel Corum/Bloomberg via Getty Images Biden veto preserves Labor Department’s ESG rule Biden’s veto on Monday preserves his administration’s stance. It doesn’t appear there are enough congressional votes to override the veto. Doing so would require a two-thirds vote in both the House and Senate. ESG has grown more popular in recent years, occurring … Read more

TikTok CEO appeals to U.S. users ahead of House testimony

Shou Zi Chew, chief executive officer of TikTok Inc., speaks during the Bloomberg New Economy Forum in Singapore, on Wednesday, Nov. 16, 2022. Bryan van der Beek | Bloomberg | Getty Images TikTok CEO Shou Zi Chew appealed directly to the app’s users, ahead of what’s expected to be a heated grilling in the U.S. … Read more

Trump grand jury live updates: Waiting game on looming indictment in porn star Stormy Daniels payoff

President Donald Trump looks on as Treasury Secretary Steve Mnuchin speaks at a signing ceremony at the Treasury Department in Washington, U.S., April 21, 2017. Aaron P. Bernstein | Reuters If Donald Trump is indicted by a grand jury in New York, as he has said he expects, he will become the first former U.S. … Read more

Vanguard prepares to exit China funds market, sources say

Pavlo Gonchar | Lightrocket | Getty Images U.S. fund giant Vanguard Group is shutting its main Shanghai office and exiting from a joint venture with Ant Group, five sources with knowledge of the matter said, moves that will end its six-year presence in the world’s second largest economy. A complete exit from China’s 27 trillion … Read more

Stock futures are flat following Monday’s relief rally: Live updates

Stock futures held steady in overnight trading Monday after the market staged a relief rally on the hope that the banking turmoil would be contained. Futures on the Dow Jones Industrial Average were flat. S&P 500 futures and Nasdaq 100 futures were also little changed. The blue-chip Dow rallied more than 380 points on Monday, while … Read more

Mortgage giant Fannie Mae tackles climate risk, but changes to underwriting may take several years

Global warming has already caused irreversible damage to the earth’s ecosystems and communities, according to a critical report just issued from the United Nations Intergovernmental Panel on Climate Change. The damage is extending to the U.S. housing market, which just saw unprecedented snow and flooding in California, as well as unusual winter tornados in the … Read more

Republicans request Fed and FDIC oversight records for failed Silicon Valley Bank and Signature Bank

The Signature bank logo is seen in this photo illustration in Warsaw, Poland on 13 March, 2023. Jaap Arriens | Nurphoto | Getty Images WASHINGTON — The top Republicans on committees that oversee the U.S. financial system sent letters Monday to Federal Reserve Chairman Jay Powell and FDIC chairman Martin Gruenberg formally requesting documents and … Read more

What happens during a ‘credit crunch’ — and how you can prepare for one

Tetra Images | Tetra Images | Getty Images The recent banking crisis has fueled concern of a “credit crunch” and the resulting negative impact on households, businesses and the U.S. economy. But what is a credit crunch and how might you prepare? Loans would be tougher to get During a credit crunch, banks significantly tighten … Read more