Jim Chanos, founder of one of the world’s largest short selling hedge funds, went on CNBC Thursday with guns blazing about new companies whose stocks he sees going lower and an update on one of his old favorite punching bags. The president of Kynikos Associates, which literally derives its name from the Greek word for […]
Financials are historically the best performers during a period of rising rates, but as interest rates have risen this year, the big-cap financial sector has declined. Still, many analysts continue to favor them as a top pick because they believe what ails them will go away and higher rates will make a difference. The S&P […]
Spring has not been bountiful to the once-unstoppable FAANG stocks. This tech quintet until recently was the market’s engine, responsible for 4.3 percentage points of the S&P 500’s 21% return in 2017. They averaged about 50% in market gains last year, according to the Commonfund. Until recently, these high-fliers – Facebook, Apple, Amazon, Netflix and […]
Amazon’s share price closed at $1,460 today (April 25). Alphabet closed at $1,023. And shares in Booking Holdings reached $2,078 a pop. Those valuations, apparently, were too much for the world’s biggest stock exchange to handle. The New York Stock Exchange suspended trading on the floor for five Nasdaq-listed securities because of a “price scale […]
A late round of buying erased early losses on Wall Street, leaving major indexes mixed at the close of trading. Bigger companies managed to eke out modest gains, while smaller companies mostly fell. A big gain in Boeing pushed the Dow Jones industrial average higher, breaking a five-day losing streak. Late in the day, energy […]
U.S. President Donald Trump’s nominee for Wall Street regulator Comptroller of the Currency bought financial stocks until he took office in November, according to financial disclosure documents filed with the Office of Government Ethics. While not illegal, the trading activity by Joseph Otting’s money manager could violate the spirit of ethics rules designed to prevent […]
The “big bear market” for stocks that market timer Tom McClellan has been expecting appears to have begun, as Tuesday’s broad selloff turned a key technical indicator down from an already negative position to convey a “promise” of lower lows. McClellan, publisher of the McClellan Market Report, said there could be a pause in the […]
U.S. stocks closed sharply lower Tuesday, led by a selloff in industrials, materials and technology shares. The selling pressure came after the 10-year Treasury yield briefly touched the psychologically important 3% level for the first time in four years, a move that comes as first-quarter earnings season was failing to excite investors, despite some strong […]
You’ve heard this before: Stocks, over time, outperform real estate. There are many schools of thought on this but one common statistic that gets tossed around shows equities over the past several decades have returned an average upwards of 10% a year, while real estate is in the 4% ballpark. Ask anybody who managed to […]
Rising costs and rising interest rates make for a bad brew for stocks. The 10-year Treasury yield rose to 3 percent Tuesday for the first time in four years. The psychologically important number sent ripples across financial markets because rising interest rates are a sea change for consumers and companies that have lived with ultra-low […]
TOKYO — Asian shares dipped Wednesday, mirroring a sell-off on Wall Street on fears about slowing growth and falling company profits. KEEPING SCORE: Japan’s benchmark Nikkei 225 slipped 0.6 percent to 22,135.07 in early trading. Hong Kong’s Hang Seng was down 1.1 percent to 30,298.60, and the Shanghai Composite shed 0.7 percent to 3,108.01. South […]
U.S. stocks ended the session little changed Monday as investors grappled with rising bond yields and a mixed bag of earnings reports. The closely watched yield on the 10-year Treasury note climbed, settling just below the psychologically important 3% level. What are the main benchmarks doing? The Dow Jones Industrial Average DJIA, -0.06% ended 14.25 […]
