Economy
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Oil prices finish higher as IEA warns that OPEC+ cuts will leave market with bigger deficit sooner than expected
Oil futures finished higher on Friday and logged a fourth straight weekly gain after the International Energy Agency warned that OPEC+ production cuts would leave the crude market with a larger and earlier deficit this year than previously expected. Worries about high inflation and its impact on energy demand have also eased, analysts said. Price…
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‘Dangerous times’: These aerospace and defense, cybersecurity ETFs are on ‘verge of breakouts’
[]Heightened geopolitical tensions and cybersecurity concerns may be propelling exchange-traded funds that invest in stocks linked to those areas toward potential “breakouts,” according to Renaissance Macro Research. []Shares of the First Trust Nasdaq Cybersecurity ETF CIBR, -0.61% have jumped 9.5% this year through Thursday, while the iShares U.S. Aerospace & Defense ETF ITA, -1.67% climbed…
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U.S. stocks close lower Friday, but Dow books longest weekly win streak since October after bank earnings, retail sales and Fed comments
U.S. stocks closed lower Friday as investors digested strong big bank earnings, weak retail sales, and hawkish comments from a Federal Reserve official, but all three major benchmarks booked weekly gains. How did stocks trade? The Dow Jones Industrial Average DJIA, -0.42% shed 143.22 points, or 0.4%, to close at 33,886.47. The S&P 500 SPX,…
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‘Fed-is-going-to-stop-soon’ trade peters out in stocks, bonds amid prospect of at least one more rate hike
A combination of hawkish remarks by a pair of Federal Reserve officials, solid bank earnings reports, and a rebounding consumer-sentiment reading on Friday are among the factors contributing to another abrupt readjustment in the financial market’s thinking about the path of interest rates. The sudden readjustment dented the popular view that the Federal Reserve might…
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Why the weakness in U.S. bank stocks since the collapse of SVB is a worrisome sign on eve of bank earnings
The U.S. corporate earnings reporting season begins this week with a flurry of major U.S. banks set to report their first quarterly performance since the collapse of Silicon Valley Bank (SVB) and Signature Bank last month. JPMorgan Chase, Wells Fargo, Citi and BlackRock will be among the large financial institutions posting their earnings before markets…
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S&P 500, Dow book highest close in 2 months on more signs of cooling inflation and ahead of bank earnings
U.S. stocks finished sharply higher on Thursday, led by technology stocks, as traders parsed another batch of inflation data showing pressures easing in March, while the first reports from what’s expected to be a gloomy first quarter earnings season arrived, with several marquee releases due on Friday morning. The S&P 500 and the Dow Jones…
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Gold futures settle at a nearly 1-week high after U.S. inflation reading
Gold futures settled Wednesday at their highest in nearly a week, as the dollar declined on the back of U.S. data showing a smaller-than-expected rise in March consumer prices and a slowdown in the yearly rate of inflation. Following the session’s settlement, futures prices for the precious metal edged higher in electronic trading following the…
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Fed officials at March meeting were keenly worried about impact of bank stress on economy
Federal Reserve officials, meeting days after the collapse of Silicon Valley Bank, agreed that the stress in the banking sector would slow U.S. economic growth, but were uncertain about how much, according to minutes of the meeting released Wednesday. The twelve voting members on the Fed’s interest-rate committee “agree that recent developments were likely to…
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Two- and 10-year Treasury yields drop by most in a week after Fed minutes, March inflation report
Treasury yields finished mostly lower on Wednesday, after minutes of the Federal Reserve’s last meeting discussed the possibility of a mild recession later this year and data showed U.S. consumer prices rose more slowly in March. What happened What drove markets Minutes of the Federal Reserve’s March policy meeting showed that policy makers were keenly…
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