The rally in stocks lost traction Friday, with the market still notching its best week in 2024 amid speculation the Federal Reserve will be able to cut interest rates as soon as June. US equities wavered after a record-breaking run that drove the S&P 500 up about 10% this year. In an almost broad-based weekly … Read more
Stock Market Today: Dow, S&P Live Updates for March 6 Bloomberg Source link
Stocks struggled to gain much traction, with big tech losing steam after a powerful rally driven by the artificial-intelligence euphoria. A feat of multiple records in the world’s biggest equity market drove the S&P 500 briefly above the historic 5,100 mark. Most members of the “Magnificent Seven” group of megacaps came under pressure — with … Read more
No cut, no problem—at least not for the stock market. It should have been a bad week for an overextended market, one that had risen for 14 of the previous 15 weeks. A pair of stronger-than-expected January inflation prints forced investors to wake up to the realization that the Federal Reserve won’t be cutting interest … Read more
Federal Reserve Governor Christopher Waller said the US dollar is likely to keep its preeminent status globally despite recent threats from cryptocurrencies, the rise of the euro and China’s promotion of its own yuan. “I do not expect to see the US dollar lose its status as the world’s reserve currency anytime soon,” Waller said … Read more
The pulse of US inflation likely continued to slow at the start of the year, helping to feed expectations that the Federal Reserve will find interest-rate cuts more palatable in the coming months. The core consumer price index, a measure that excludes food and fuel for a better picture of underlying inflation, is seen increasing … Read more
I’m Chris Anstey, a senior editor for economics in Boston, and today we’re looking at the reshaping of US trade patterns. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X via @economics. And if you aren’t yet signed up to receive this newsletter, you can do so here. US trade with … Read more
The US economy is showing “remarkable strength” compared with Europe, where countries are struggling more with tighter monetary policy and the shocks of the energy price surge in recent years, OECD Chief Economist Clare Lombardelli said. The Paris-based organization revised up its forecasts for US growth next year while it cut expectations for most of … Read more
If the US stock market goes down a little from here, it “could go down a lot.” That’s the view of Goldman Sachs Group Inc. tactical specialist Scott Rubner, who warned in a note to clients on Thursday that the “pain trade is now lower, not higher from here.” Source link
Stock-market investors may take their cues from a series of important events in the week ahead, including the Federal Reserve’s monetary-policy meeting, a closely-watched December employment report and an onslaught of earnings from megacap technology names, which all promise insight into the state of the economy and interest-rate outlook. The benchmark S&P 500 index SPX … Read more