The half-point hike surprised markets Bank of Canada governor Tiff Macklem raised interest rates by 50 basis points to 3.75 per cent Wednesday. Photo by Justin Tang/Bloomberg Advertisement 2 This advertisement has not loaded yet, but your article continues below. We apologize, but this video has failed to load. The Bank of Canada surprised markets… Continue reading Bank of Canada swerves in ‘game of chicken’ with inflation
Biden Touts Lower Gas Prices. Will They Stay There?
On Tuesday, President Biden posted a tweet celebrating a two-week drop in the national average of the price of a gallon of gas. Gas prices have decreased for 2 weeks, and are down by more than $1.20 since their June peak.That’s saving American families with two cars about $130 per month on average. pic.twitter.com/TfCx7AoeFSOctober 25,… Continue reading Biden Touts Lower Gas Prices. Will They Stay There?
Stock Market Today: Stocks Stumble on Ugly Earnings from Tech Bellwethers
Stocks closed mixed Wednesday as disappointing earnings from Google parent Alphabet (GOOGL (opens in new tab), -9.1%) and Dow component Microsoft (MSFT (opens in new tab), -7.7%) weighed on the major market benchmarks and the tech-heavy Nasdaq Composite in particular. The blue-chip Dow Jones Industrial Average finished up 0.01% at 31,840, while the broader S&P… Continue reading Stock Market Today: Stocks Stumble on Ugly Earnings from Tech Bellwethers
Meta shares crater 20% after its earnings and revenue outlook miss targets
Meta shares lost almost 20% premarket Thursday after the Facebook parent missed its Q3 earnings target. Sales fell in the quarter, and Meta gave a weak revenue forecast amid an ad spending slowdown. Its metaverse-focused Reality Labs lost $3.7 billion, taking its total losses this year to $9 billion. Loading Something is loading. Thanks for… Continue reading Meta shares crater 20% after its earnings and revenue outlook miss targets
Zuck refuses to let his metaverse dream die. Wall Street has finally had enough.
Meta shares slumped nearly 20% in after-hours trade to $104.30 on Wednesday. That slashed $67 billion off Meta’s market value, which was already down half a trillion this year, per Reuters. The drop in Meta’s share price this year has shaved off 61% off Mark Zuckerberg’s net worth. Loading Something is loading. Thanks for signing… Continue reading Zuck refuses to let his metaverse dream die. Wall Street has finally had enough.
US stocks close mixed as Nasdaq and S&P 500 snap 3-day win streaks on weak tech earnings
Jason Ma Spencer Platt/Getty US stocks finished mixed as the Nasdaq snapped a three-day win streak amid weak tech earnings. But the Dow Jones Industrial Average extended its rally to a fourth consecutive session. Tech stocks will see more action this week as Meta reports late Wednesday and Apple is due to report after the… Continue reading US stocks close mixed as Nasdaq and S&P 500 snap 3-day win streaks on weak tech earnings
The housing market has a big disconnect that can’t last, and prices for new homes have a long way to fall, analyst says
A disconnect between sales of new homes and mortgage demand is not sustainable, according to Pantheon Macroeconomics. Chief economist Ian Shepherdson said its likely reflects buyers rushing to lock in deals before mortgage rates climb higher. Meanwhile, prices for new homes “have a long way to fall before the market reaches a sustainable equilibrium,” he… Continue reading The housing market has a big disconnect that can’t last, and prices for new homes have a long way to fall, analyst says
Investors should look for the bear market to be over in the first quarter of 2023, Morgan Stanley’s Mike Wilson says
Investors could see the bear market end as soon as early next year, according to Morgan Stanley’s Mike Wilson. Despite the outlook for weaker spending around the holidays, stocks can continue to rise, he said. “We think the market will hold up and that will be another positive catalyst,” Wilson told Bloomberg. Loading Something is… Continue reading Investors should look for the bear market to be over in the first quarter of 2023, Morgan Stanley’s Mike Wilson says
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