The stock market powered ahead amid a renewed rally in technology companies, with traders also sifting through the latest remarks from a slew of Federal Reserve speakers for clues on the interest-rate path. The S&P 500 topped 5,100 — hitting its 15th record this year. Traders looked past weak economic data amid bets policymakers will … Read more
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
The Circuit Hosted by high-profile journalist Emily Chang, The Circuit is a fast-paced, dynamic series that lives at the intersection of culture, tech, entertainment, and business. Every week, Chang will go on location to meet the world’s most fascinating founders, influencers, and innovators, conducting intimate interviews and bringing audiences behind the scenes of the most … Read more
Andrea Orcel has seen UniCredit Group SpA’s share price more than treble in his first three years as the Italian bank’s chief executive officer. But Orcel isn’t running victory laps; nor should he be. What the former head of UBS Group AG’s investment bank has achieved so far was the easy part. Finding low-risk, sustainable … Read more
After investment losses tore through the US financial system this year, a fresh slump in bank stocks shows some investors fear the problem — which at its most extreme claimed a handful of lenders — hasn’t gone away. Unrealized losses on bank securities’ portfolios will likely increase in the third quarter after a steep rise … Read more
Bank of England policy makers will decide on Thursday whether to call a halt to a string of 14 consecutive interest-rate increases, with investors and handful of economists raising doubts about another hike. Investors have still fully priced in one more quarter-point increase this year in the UK central bank’s base rate, which is now … Read more
September 19, 2023 at 2:10 PM EDT Let’s say you own a bunch of stocks, say $1 million worth of the stocks in the S&P 500 Index. You think they will go up (that’s why you own them), but you worry that they might go down. You can buy insurance against that risk: You can … Read more
September 11, 2023 at 6:57 PM EDT Hello, it’s Matt here basking in a lovely Melbourne spring morning. Apple is revealing a new iPhone later today, but first… Today’s must-reads:• Chevron’s labor dispute gets messier• Ramsay shortlists bidders for hospital unit• UBS is cutting jobs Two key unions will oppose Chevron’s attempt to resolve a … Read more
Bond traders have been ratcheting up bets that the Federal Reserve isn’t done with its interest-rate hikes just yet. Next week will help determine if they’re right. The monthly consumer-price index report on Wednesday will provide the latest insight into how much further the central bank may need to go to pull inflation back toward … Read more
China is escalating its defense of the yuan, pushing up funding costs in the offshore market to squeeze short positions and setting a new record with its stronger-than-expected reference rate for the currency. Analysts say the steps are designed to slow the pace of yuan depreciation rather than engineer a sustained rally. Forecasters at JPMorgan … Read more