U.S. stocks rallied on Friday after data showed the U.S. economy added more than 300,000 jobs last month, perfectly in line with investor expectations. How Stocks Trade The Dow Jones Industrial Average DJIA, +0.52% advanced 332 points, or 1.1%, to 31,999. The S&P 500 SPX, +0.53% rose 45 points, or 1.2%, to 4,015. The Nasdaq … Read more
A ‘superbubble’ appears dangerously close to its ‘final act’ after the recent rally in US equities drew some investors into the market ahead of a potential ‘tragedy’, according to legendary company co-founder Jeremy Grantham. Boston-based investment. GMOs. Grantham, who has repeatedly warned investors of a market bubble, said in a paper Wednesday that “superbubbles are … Read more
A ‘superbubble’ appears dangerously close to its ‘final act’ after the recent rally in US equities drew some investors into the market ahead of a potential ‘tragedy’, according to legendary company co-founder Jeremy Grantham. Boston-based investment. GMOs. Grantham, who has repeatedly warned investors of a market bubble, said in a paper Wednesday that “superbubbles are … Read more
The U.S. stock market’s summertime rally from year-to-date lows seen in June came to a halt in August, leaving major indexes with monthly losses as investors braced for the start of a traditionally unpleasant month for bulls scholarship holders. Since 1950, September has been the worst performing month of the year for the Dow Jones … Read more
Financial market investors fear the United States is on the brink of an economic slowdown as central bankers in Jackson Hole reaffirmed their determination to raise interest rates to tame inflation. Steve Hanke, a professor of applied economics at Johns Hopkins University, said he believes the United States is heading into a recession next year, … Read more
Still reeling from Fed Chairman Jerome Powell higher ratings for longer last weeka riskier asset like equities is set to take another hit on Monday. “You can’t see the stock market crashing more than 5% on the words of one man,” grumbled FWDBONDS chief economist Chris Rupkey, who sees a major credibility problem for the … Read more
Now might be a good time to consider hiding in short-term Treasuries or corporate bonds and other defensive parts of the stock market. On Friday, Federal Reserve Chairman Jerome Powell spoke of a willingness to inflict “a bit of pain” on households and businesses in an unusually blunt speech from Jackson Hole that hinted at … Read more
“ “The Fed is positioned as well as it can be – given the credibility losses and mistakes that have been made – with these remarks to handle things going forward.” ” —Larry Summers On Friday, former US Treasury Secretary Lawrence Summers praised the Federal Reserve, saying Fed Chief Jerome Powell’s latest pledge to contain … Read more
Text size Stocks fell as Jerome Powell gave a short and clear message that rates will stay high for some time. Michael Nagle/Bloomberg Jackson Hole has come and gone, and the only surprise may be that the stock market was surprised. But he was surprised. The stock market started last week on its back foot, … Read more
Text size Fed Chairman Jerome Powell’s speech hovered over markets all week. Drew Angerer/Getty Images The stock market was selling off on Friday, as Federal Reserve Chairman Jerome Powell makes belligerent remarks on monetary policy at the annual symposium in Jackson Hole, even in the face of falling inflation. The Dow Jones Industrial Average lost … Read more
