text size US housing starts fell more-than-expected in July, to their lowest level since early 2021. (Spencer Platt/Getty Images) Stocks ended Tuesday mixed with little macro news after a relatively quiet trading day. income from Walmart and home depot beat Wall Street forecasts. That Dow Jones industry average rose 239 points, or 0.7%, to 34,151.8. … Read more
With interest rates rising, increasing attention is being turned to the housing market, which has been hit by a slowdown since its post-pandemic surge. New signs of trouble come from Compass COMP, whose shares are falling in the premarket after the real estate agent and technology provider slashed its annual sales forecast and revealed plans … Read more
The recent rise in stocks helped lift the Nasdaq Composite COMP from Wednesday’s bear market territory and the Dow Jones Industrial Average DJIA to leave the correction area. But the strong rebound also sparked debate over whether investors should adjust their portfolios and move away from defensive plays. Growth stocks generally outperformed their value peers … Read more
It’s been a week of headaches across asset classes – one that left investors and traders with mixed conclusions about what lies ahead after data release showed US inflation slowed more than forecasters expected. Some describe the stock market as “euphoric” about the possibility that the worst of inflation is behind us. Major indices continued … Read more
Before investors hand out cigars in celebration of the birth of a baby bull market for the Nasdaq Composite, investors might want to take a look back at history. Sure, the tech-heavy gauge closed up 20.8% on Wednesday from its closing low of 10,646.10 for 2022, set on June 16 in the new bull market. … Read more
Inflation has been nothing but full of surprises – it remained persistently hot last year when professional forecasters expected an easing, and then fell even lower than widely expected for July. The CPI report for the last month, released on Wednesday, surprised to the downside — with a compound annual rate of 8.5%, below the … Read more
Wednesday’s release of the July CPI report contained enough downside surprises to give equity investors hope that the worst of inflation may be over. Still, some concerns lingered at big names like Pimco and BlackRock Inc., the world’s largest wealth manager. According to Pimco economists Tiffany Wilding and Allison Boxer, the report’s details were “firmer” … Read more
Traders, investors and economists are all expecting Wednesday’s CPI report to show a decline in July’s US annual inflation rate. But there is another number hidden in CPI data that tends to shake markets. It’s called core CPI year-over-year, a measure that filters out volatile food and energy costs. In the 12 months ended June … Read more
We are a day away from any data that could mark a turning point for the markets. If Wednesday’s CPI fails to signal a slowdown in prices, expectations for a larger Fed rate hike in September will rise, potentially weighing on stocks. But if it swings the other way, especially after better-than-expected jobs data, the … Read more
Concern turned instead to what a sizzling labor market and rising cost of everything mean for stock and bond portfolios, especially when combined with a mix of higher growth and persistent inflation. How should one even call such a scenario? “Boomflation,” said Kent Engelke, chief economic strategist at Capitol Securities Management, pointing to annual wage … Read more