Markets

Barclays said Thursday it now expects “more aggressive, front-loaded hikes by the Fed” after September’s CPI.   It projects the Fed to raise rates by 75 basis points in December and by 50 basis points in February 2023.  It also sees the central bank starting to cut rates later next year.  Loading Something is loading. Thanks… Continue reading The Fed will be more aggressive with rate hikes into early 2023 after September’s inflation shock, Barclays says

The Fed will likely keep hiking rates by 75 basis points until “something cracks” in the economic data, Paul McCulley warned. He pointed to the Fed’s watchfulness on the labor market and inflation, suggesting there could be a prolonged tightening cycle ahead. But a “crack” could first hit markets before it hits the real economy,… Continue reading The Fed will keep issuing 75-basis-point hikes until ‘something cracks’ in the data, former PIMCO chief economist says

US stocks dipped Wednesday after Fed minutes reiterated the central bank’s goal of taming inflation.  The S&P 500 notched its sixth consecutive loss. Investors also await September consumer inflation data due out Thursday morning.  Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go.… Continue reading US stocks dip as Fed minutes show continued hawkish resolve while CPI report awaits

Moderna spiked as much as 17% on Wednesday after the company teamed up with Merck to develop personalized cancer vaccines.Merck will pay Moderna $250 million under the agreement, which was initially struck in 2016.  Data from an ongoing phase 2 trial of Moderna’s vaccine used in combination with Merck’s Keytruda is expected in the fourth quarter.… Continue reading Moderna pops 17% after Merck exercises option to jointly develop a personalized cancer vaccine

A price cap on Russian oil could backfire on the global economy, Indonesia’s finance minister warned. If a price cap is met with retaliation from Russia, it could result in oil prices being pushed higher. The move could also set a precedent for other commodities, which would hurt some of Indonesia’s exports. Loading Something is… Continue reading A Russian oil price cap will backfire on the global economy and the plan likely influenced OPEC’s production cut, Indonesian finance minister says

The turbulence in UK financial markets stems from the gap between UK and US interest rates,  acob Rees-Mogg said Wednesday.  The turbulence is “primarily caused by interest-rate differentials rather than by the fiscal announcement,” he said.  The pound rose Wednesday on speculation the Bank of England may extend emergency bond buying. Loading Something is loading.… Continue reading The UK’s recent market turmoil wasn’t caused by the mini-budget, and the chaos was a result of interest rate ‘differentials’, Britain’s business secretary says

Investors should hold off on buying the dip in stocks until earnings begin to decline, according to Bank of America.The bank said the risk of a stagflationary recession means investors should use rallies to sell growth stocks.”Higher discount rates reward firms that produce high profits today, not speculators seeking profits far in the future,” BofA… Continue reading Investors shouldn’t get bullish on the stock market until 3 things happen, and should use any rally to rotate out of growth names ahead of a stagflationary recession, BofA says

Jennifer Sor Reuters US stocks ended mixed Tuesday ahead of a slew of corporate earnings and key inflation data. The S&P 500 notched its fifth straight loss and the Nasdaq dropped more than 1%. Stocks could see another 5% sell-off Thursday if September inflation clocks in above 8.3%, JP Morgan warned. Loading Something is loading.… Continue reading US stocks trade mixed as investors struggle to regain momentum ahead of earnings deluge and inflation data