Russian stocks are “essentially worthless” based on pricing in the credit default swaps market, according to MSCI.The disconnect between pricing in Moscow’s stock exchange and the derivatives market is driven by trading restrictions for foreigners.Russian stocks could find redemption if the war against Ukraine ends and sanctions by Western countries are quickly lifted, MSCI said.… Continue reading Russian stocks are ‘essentially worthless’ after the Ukraine invasion based on pricing in a key derivatives market, MSCI says
US stocks climb in volatile session as Fed minutes signal fast pace of rate hikes followed by a pause
US stocks ended higher Wednesday after a volatile session that saw the release of the Fed’s May meeting minutes. Policy makers want to move “expeditiously” with rate hikes to tame hot inflation. Consumer discretionary stocks led a gain on the S&P 500. Loading Something is loading. US stocks closed Wednesday’s volatile session higher after Federal… Continue reading US stocks climb in volatile session as Fed minutes signal fast pace of rate hikes followed by a pause
Gas prices have soared so high that the US is now seeing demand destruction ahead of the summer driving season
The average gallon of gas in the US hit a high of $4.59 Tuesday, about 51% higher than a year ago. Demand on a four-week rolling basis was its lowest for this time of year since 2013, excluding 2020. Costs and a demand slowdown could dash expectations for a driving season resembling pre-COVID times. Loading… Continue reading Gas prices have soared so high that the US is now seeing demand destruction ahead of the summer driving season
The average retail investor’s portfolio has lost 32% of its value in this year’s sell-off — but that hasn’t stopped them from buying the dip in stocks, research firm says
Retail investors have been sticking with buying the dips in stocks even as the value of their portfolios has suffered, Vanda Research said. The average portfolio drawdown is 32%, the sharpest decline since the firm started tracking such data eight years ago. The S&P 500 has pared some losses in recent sessions thanks to retail… Continue reading The average retail investor’s portfolio has lost 32% of its value in this year’s sell-off — but that hasn’t stopped them from buying the dip in stocks, research firm says
The S&P 500 just flashed a ‘buy’ signal that could mean an oversold rally is on the horizon, Fairlead Strategies’ Katie Stockton says
The S&P 500 just flashed a technical “buy” signal, according to Katie Stockton of Fairlead Strategies.The positive move in the S&P 500’s MACD indicator suggests an oversold rally could materialize. “This reflects significant improvement in short-term momentum despite the day-to-day volatility that we have been suffering through.” Loading Something is loading. The S&P 500 could be… Continue reading The S&P 500 just flashed a ‘buy’ signal that could mean an oversold rally is on the horizon, Fairlead Strategies’ Katie Stockton says
Satellite stocks Maxar, BlackSky and Planet Labs soar as Pentagon spy agency awards multibillion-dollar deal
Satellite stocks Maxar, BlackSky and Planet Labs soared on news of a new Pentagon contract. The National Reconnaissance Office said the deal is its largest-ever commercial imagery contract. Specific financial terms weren’t disclosed, but the NRO said the contract is worth billions of dollars over a decade. Loading Something is loading. Satellite stocks Maxar Technologies,… Continue reading Satellite stocks Maxar, BlackSky and Planet Labs soar as Pentagon spy agency awards multibillion-dollar deal
Bank of America CEO Brian Moynihan says US consumers are in good shape and won’t slow spending — even as stocks sell off in anticipation of a slowdown
US consumers are in good financial shape and are managing well in a high inflationary environment, Bank of America CEO Brian Moynihan said. Account balances for consumers are higher now than they were pre-pandemic, he told Bloomberg. Investors have been rattled by financial updates from retailers such as Target and Walmart. Loading Something is loading.… Continue reading Bank of America CEO Brian Moynihan says US consumers are in good shape and won’t slow spending — even as stocks sell off in anticipation of a slowdown
US stocks end mixed as the Dow reverses higher while the S&P 500 hovers near bear market territory
US stocks were mostly lower Tuesday, with the Nasdaq losing more than 2%. Tesla shares dipped below their S&P 500 inclusion price and moved closer to flashing a death cross. Billionaire Bill Ackman said markets are imploding as investors lose confidence in the Fed. Loading Something is loading. US stocks closed mixed Tuesday and… Continue reading US stocks end mixed as the Dow reverses higher while the S&P 500 hovers near bear market territory
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