Investors are closely watching the consumer price index report this Wednesday for signs that inflation is slowing down. But Lance Roberts, chief investment strategist for RIA advisors, says recent core CPI data shows that inflation is still sticky. The federal reserve has been hiking interest rates to fight inflation. While it says it’s going to…
Market Betting on Fed Rate Cuts: Investment Strategist
April 10, 2023
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Wall Street Drops as Job Gains Fuel Rate-Hike Worries
U.S. stock indexes fell on Monday on growing concerns that the Federal Reserve will continue to raise interest rates after Friday’s jobs data pointed to a resilient labor market. The tech-heavy Nasdaq led losses among the major indexes after the long weekend, with growth stocks including Apple Inc., Amazon.com Inc., and Microsoft Corp. slipping between…
Asian Shares Higher After Report Shows Resilience in US Jobs
April 10, 2023
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Shares were mostly higher in Asia on Monday after a report Friday showed resilience in the U.S. jobs market. European markets were closed for Easter holidays. Benchmarks rose in Tokyo and Seoul but fell in Shanghai. Markets were closed in Hong Kong and Sydney. U.S. futures were mixed and oil prices climbed. The highly anticipated…
Yen Sinks as Rates Outlook Diverges; New Zealand Dollar Tumbles
TOKYO—The yen sank against major peers on Monday after U.S. payrolls data bolstered the case for further Federal Reserve rate hikes, highlighting a growing disparity with Japan where the central bank continues to pin the benchmark yield near zero. Meanwhile, the risk-sensitive New Zealand and Australian dollars weakened amid heightened U.S.–China tensions over Taiwan, with…
Is the Party Over for Tech Stocks?
Commentary At the annual Boys’ Club of New York luncheon on April 4, a 16-year-old guest asked hedge fund manager Chase Coleman what stock he should buy. It was an innocuous and softball question. Buy the FAANGs, Coleman said, referring to the acronym of several mega-cap technology stocks including Apple, Alphabet, and Meta Platforms. Wait,…
Oil Steadies as Tighter Supply Balances Growth Concerns
April 10, 2023
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LONDON—Oil steadied on Monday, after rising for three straight weeks, as looming supply cuts from Saudi Arabia and other OPEC+ producers balanced concern about weakening global growth that may dampen fuel demand. Crude last week jumped more than 6 percent, a third weekly gain, after OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and…
Jobs Print Near Expectations, but Economy Clearly Is Slowing
April 7, 2023
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Commentary New jobs created printed at 236,000 on April 7, according to the Establishment Survey, on par with market expectations of 230,000 jobs. The Household Survey printed lower, at 160,000. Net revisions were down 17,000 from January and February. Both the unemployment rate, at 3.5 percent, and the number of unemployed persons, at 5.8 million,…
Asian Stocks Rise Ahead of US Job Market Update
April 7, 2023
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BEIJING—Asian stock markets rose Friday ahead of a United States job market update that traders hope will encourage the Federal Reserve to ease off plans for more interest rate hikes. Shanghai, Tokyo, and Seoul advanced. New York, London, and Frankfurt were closed for the Good Friday holiday. Traders who worry higher interest rates might tip…
China Sees Wave of Large Private Companies Broken Up, Listed on Stock Exchanges
April 6, 2023
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Several large Chinese companies have recently been restructured for listing on the stock exchange, with most of them privately owned. Days after Alibaba’s restructuring was announced, Jingdong (JD.com), another Chinese e-commerce platform, announced on March 30 that its sub-companies JD Industrial and JD Production and Development will be spun off and listed on the Hong…
Wall Street Opens Lower on Slowdown Worries After Jobless Claims Data
Wall Street’s main indexes opened lower on Thursday as a stronger-than-expected weekly jobless claims report pointed to growing signs that rapid interest rate hikes by the Federal Reserve was slowing down economic growth. The Dow Jones Industrial Average fell 61.76 points, or 0.18 percent, at the open to 33,420.96. The S&P 500 opened lower by…
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