Treasury Secretary Janet Yellen on Monday warned a breach of the U.S. debt ceiling could cause “financial chaos” and downgrade the status of the U.S. dollar as the world’s reserve currency. Yellen spoke in a CNBC interview a day before President Joe Biden and House Speaker Kevin McCarthy are scheduled…
The numbers: Lending officers at major banks told the Federal Reserve on Monday that in the first three months of the year they tightened standards and saw reduced demand. The banks said they expected the tightening trend to continue all year. Key details: In the first-quarter Senior Loan Officer Opinion…
U.S. stocks posted a mixed finish Monday, struggling for direction as investors weighed a Federal Reserve survey of loan officers for signs of a credit crunch, awaited inflation data due this week and tracked choppy trading in shares of regional banks. A small rise for the Nasdaq Composite, however, was…
PayPal Holdings Inc. beat estimates with its quarterly results Monday, but its shares were headed lower in after-hours action as Wall Street unpacked how much of PayPal’s growth is coming from a lower-margin part of the business. While PayPal PYPL executives boosted their profit forecast for the full year and…
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It’s an age-old Wall Street adage attributed to legendary market technician Bob Farrell: “Markets are strongest when they are broad and weakest when they narrow to a handful of blue-chip names.” That quote has been bandied about quite a bit recently, having been cited in research notes published by Rosenberg…
Consumers expect mortgage rates to drop, so they’re feeling a lot more optimistic about the housing market, according to a Fannie Mae FNMA poll published Monday. After the U.S. Federal Reserve’s rate increase last week, the Fed Chair signaled a potential pause in hikes. Rates dipped after the news, and…
Once more, with feeling. The Nasdaq Composite COMP eked out a gain Monday, but the advance was enough to meet widely used criteria for marking an exit from a bear market. But investors don’t need a long memory to recall that the last such exit from a bear market, on…
AMC Entertainment Holdings Inc. is continuing its post-pandemic recovery, according to Macquarie Research. The movie-theater chain and sometime meme-stock darling reported better-than-expected first-quarter revenue and adjusted earnings Friday, and CEO Adam Aron is confident that the company will benefit from the slate of movies coming in 2023. Over... Source
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