Markets

The stock market is missing one key ingredient to mount a year-end rally, according to Bank of America.The bank said that a crescendo of panic selling, or capitulation, is necessary for stocks to bottom in October.Favorable fourth-quarter seasonal patterns would support a year-end rally if the capitulation event materializes. Loading Something is loading. Thanks for… Continue reading A crescendo of panic selling is the one missing ingredient to a year-end stock market rally

Everyday investors can soon buy shares in the music rights to the “Shrek” franchise. Trading platform Public will offer 88,970 shares in the music rights for $10 each. Investors can also receive quarterly payouts from the royalties. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re… Continue reading Retail investors can soon own a piece of ‘Shrek’ music royalties and earn payouts as streaming revenue erupts

The Russian ruble fell past the 100-per-dollar threshold early Tuesday. When it last broke this barrier in mid-August, Russia’s central bank hiked rates sharply. The ruble’s late slide comes as Russia’s balance of payments has deteriorated. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on… Continue reading Russian ruble sinks to level that previously triggered emergency measures from Moscow

Higher interest rates are having an outsized impact on millennials who are looking to buy a home.At the same time, baby boomers have seen a net positive from elevated interest rates as their cash earns 5%.”Everyone is locked in 3% mortgage except millennials,” Bank of America said. Loading Something is loading. Thanks for signing up!… Continue reading CHART OF THE DAY: Millennials are feeling the pain of higher interest rates much more than baby boomers

In August, home prices climbed a seasonally adjusted 0.68% from July, hitting a record high for the fourth consecutive month, per Black Knight. Prices in nearly half the nation’s 50 largest markets climbed by 0.75% or more. “Even on a non-adjusted basis, August’s gain of +0.24% was more than 60% larger than the 25-year average… Continue reading Soaring home prices set another record as the housing market keeps getting less affordable

Bill Ackman said the Fed is likely done hiking interest rates as the economy starts to weaken. “High mortgage rates, high car rates, high credit card rates — they’re starting to have an impact on the economy,” he told CNBC. The billionaire investor is also betting that 30-year Treasury yields are going to rise further.… Continue reading Billionaire investor Bill Ackman says Fed rate hikes are likely over but warns a ‘big threat’ still looms

Mega-cap stocks are at their cheapest valuation in six years, Goldman Sachs wrote.  Meanwhile, they’re earnings season will outperform the typical S&P firm. The sector is likely to keep outperforming the index through at least 2025. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on… Continue reading Top tech stocks are trading at the biggest relative discount in over 6 years with earnings set to spark momentum, Goldman Sachs says

The Fed’s aggressive interest rate hikes have weighed on S&P 500 profits, Goldman Sachs said. The index’s return on equity, excluding financial firms, has slumped 69 basis point this year. Higher for longer interest rates could derail the index’s long-running trend of ROE growth. Loading Something is loading. Thanks for signing up! Access your favorite… Continue reading The Fed’s war on inflation is hitting the profits of S&P 500 firms, Goldman Sachs says