US stock indices rose on Monday following President Joe Biden’s announcement that he is withdrawing his re-election bid. The markets bounced back from heavy losses last week amid a rotation in major technology stocks. Here’s what’s happening in the stock market. Futures rose, with Wall Street indices recovering from the previous week’s significant losses as […]
Market Highlights for the Week: Inflation, Earnings, Oil
A busy week awaits the markets, with US inflation data that could cement expectations of a rate cut in September. Earnings season gathers momentum with the release of the results of major companies and many European banks. Meanwhile, Eurozone PMI data will highlight the run-up to the European Central Bank’s next rate cut. Here’s what […]
US Stocks Mixed, Tech Sector Falls on Geopolitical Fears
US stock markets traded mixed on Wednesday, with major technology stocks suffering a sustained decline on heightened geopolitical tensions. Technology stocks fell sharply Wall Street’s major indices traded lower on Wednesday, losing ground from record levels, with the technology sector leading the losses on the back of a Bloomberg report that President Biden’s administration is […]
Bank of America Beats Forecasts with Strong Investment Banking Performance
Bank of America said Tuesday that revenue and earnings in the second quarter beat estimates, supported by higher fees in both investment banking and asset management. Bank of America reported: The bank said profit fell 6.9% compared to the same period last year, to $6.9 billion, or $0.83 per stock, as net interest income declined […]
US stock markets rise on rate cuts, bank and retail sales data to be released
U.S. stock futures rose on Tuesday, extending the session’s gains amid rising optimism about possible interest rate cuts, while bets that Donald Trump will secure a second term also increased. Powell expects lower inflation, boosting rate cut bets Wall Street’s major indices closed higher on Monday, supported by optimism about the possibility of future interest […]
US stocks rise ahead of Powell’s second day of remarks
US stocks rose slightly on Wednesday, managing to stabilise after new record highs before hearing more comments from Federal Reserve Chairman Jerome Powell. Both the S&P 500 and the Nasdaq Composite made new all-time highs on Tuesday, even though their pace of gains appeared to slow considerably. Gains were also largely driven by technology stocks, […]
U.S. stock markets rise; Powell testimony looms
U.S. stock indexes rose on Tuesday as rising expectations of a rate cut in September lifted Wall Street ahead of Federal Reserve Chairman Jerome Powell’s testimony. The S&P 500 and Nasdaq Composite hit record highs on Monday, adding to recent gains as traders priced in the likelihood that the Federal Reserve will begin cutting interest […]
Market highlights for the week: Inflation, Biden, Powell
After a holiday-shortened week, investors will keep a close eye on the upcoming economic report on inflation, which is the highlight of the week. Last week, the labor market again showed signs of moderation. June’s nonfarm employment figures showed an increase of 206,000 jobs, a slight decline from May’s revised count of 218,000. The U.S. […]
U.S. stock markets fall slightly after Powell’s testimony, with CPI in focus
U.S. stock indexes fell slightly on Monday as investors await both Federal Reserve Chairman Jerome Powell’s testimony and key inflation data for more signals on interest rates this week. Futures stabilized in the wake of Wall Street hitting record highs on Friday last week as softer-than-expected nonfarm payrolls data increased optimism that the Fed will […]
U.S. stock prices rise on Fed outlook and jobs data
U.S. stock index futures rose on Wednesday on volumes affected by the holiday and helped by dovish comments made by Federal Reserve Chairman Jerome Powell. Wall Street’s major indexes had a quiet and subdued day on Wednesday due to Thursday’s Independence Day holiday, coming off significant gains on Tuesday after Powell indicated some progress on […]