US Federal Reserve Chair Jerome Powell is scheduled to give his semi-annual report to Congress on Wednesday after the policymakers kept interest rates unchanged at their meeting last week. Analysts expect a hawkish tone from Powell as the central bank forecasts around two more quarter-point rate hikes this year. SharesRead More →
Wall Street stocks retreated Wednesday after the Federal Reserve kept interest rates unchanged, but signaled it expects additional increases in 2023. The US central bank, as expected, opted to hold its benchmark lending rate between 5.0 per cent and 5.25 per cent. However, forecasts from the policymakers indicated strong supportRead More →
The relentless rally in big tech, the possibility of a Federal Reserve pause in interest-rate hikes and signals that the economy is still in good shape drove US stocks toward a bull market. An advance of almost 1.5% for the S&P 500 Friday extended the benchmark’s surge from its OctoberRead More →
Stagflation – a combination of stagnant growth and persistent inflation that dogged the U.S. in the 1970s – dims the appeal of both equities and bonds, leaving investors fewer places to earn returns. While far from assured, the scenario has loomed large in investors’ minds as last year’s inflation surgeRead More →
U.S. stock indexes gained on Friday after strong earnings updates from Exxon and Intel dwarfed worries over Amazon’s slowdown warning, while economic data bolstered expectations that the Federal Reserve would hike interest rates next week. Exxon Mobil Corp rose 2.2% to hit an all-time high as the energy major reportedRead More →
With higher interest income offset weakness in dealmaking, JPMorgan Chase & Co’s on 14 April said tha first-quarter profit has beaten Wall Street estimates. It added that the biggest US lender remained resilient through the banking crisis in March. The lender’s shares jumped 6% as its performance underscored how bigRead More →
The finance sector is under intense pressure from the American right. (Representational) The six biggest banks on Wall Street are failing to live up to a key plank of their ESG commitments to stakeholders, according to a joint study published on Wednesday. An analysis by Ceres and the Transition PathwaysRead More →
Following a slide that reached 1% earlier in the session, the S&P 500 snapped back and notched its second straight week of gains. A gauge of US financial heavyweights climbed from its lowest level since November 2020. Beaten-down regional lenders drove the recovery, with Citizens Financial Group Inc. and ZionsRead More →
All three indexes ended the session deep in negative territory, with financial stocks down the most among the major sectors of the S&P 500. For the week, while the benchmark S&P 500 ended higher than last Friday’s close, the Nasdaq and the Dow posted weekly declines. SVB Financial Group announcedRead More →
Wall Street’s indexes closed lower on Friday as investors ran for the exits as they stressed out about the health of U.S. banks after regulators had to close a high-profile lender to the technology sector, overshadowing the February jobs report. California banking regulators said they closed SVB Financial Group toRead More →
