Technology companies led a broad slide in stocks on Wall Street Tuesday, deepening the market’s September swoon. The S&P 500 fell 2 percent, its worst drop since May. The tech-heavy Nasdaq dropped 2.8 percent, its biggest drop since March. Decliners outnumbered advancers on the New York Stock Exchange 4 to 1. The benchmark S&P 500…
Fed’s Powell: Reopening Economic Bottlenecks Could Be ‘More Enduring’
September 28, 2021
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Business & EconomyEconomic BottlenecksEconomieseconomyFederal Reservejerome powellMarket WatchMarketsreopeningUS
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WASHINGTON—The higher prices and hiring difficulties seen as the U.S. economy reopens from the pandemic could prove “more enduring than anticipated,” and the Federal Reserve would move against unchecked inflation if needed, Fed Chair Jerome Powell said in remarks prepared for delivery to the Senate Banking Committee on Tuesday. “The process of reopening the economy…
European Stocks Rise, Wall Street Futures Point to Gains as Investors Digest German Election Outcome
September 27, 2021
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Business & EconomyEconomieseconomyEuropeEuropean marketsGerman electionInternationalInvestmentMarket WatchMarketsUSUS NewsWall Street futuresWorld
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European stocks edged up and Wall Street futures pointed to early gains as investors digested the outcome of the election in Germany, with apparent relief that the far-left Linke party failed to secure enough votes to enter Parliament and so boosting the likelihood of a more centrist ruling coalition. Germany’s blue-chip DAX was up 137.10…
Wall Street Eyes Four More Years for Powell at Fed
September 25, 2021
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Business & EconomyEconomieseconomyFederal Reserve Chairmanjerome powellMarket WatchMarketsUSWall Street
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Federal Reserve Chairman Jerome Powell remains favored for renomination by the White House, and if recent history repeats itself a decision may come at any time before the central bank meets again in early November. Wall Street expects Powell, who was nominated for the role by President Donald Trump in 2017 and confirmed by the…
Indonesia Finance Minister Warns of Ripple Effect from China’s Evergrande Debt Woes
September 24, 2021
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Asia & PacificBusiness & EconomyChinaChina Business & EconomyevergrandeIndonesiaindonesia-chinaInternational RelationsMarket WatchMarketsWorld
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JAKARTA—Indonesian authorities are monitoring the financial market situation in China, finance minister Sri Mulyani Indrawati said on Thursday, and warned that property firm China Evergrande’s debt woes could affect the world’s economy. “We see a new risk to the financial system stability in China,” she told a news conference. “They are going through a situation…
US ‘Pink Sheets’ in Shakeup as Securities Regulator Looks to Stamp out Fraud
WASHINGTON/NEW YORK—As many as 2,000 companies could disappear from the off-exchange “pink sheets,” long a favorite of retail investors, when a new rule aimed at stamping out fraud in this notoriously risky enclave of U.S. equities markets comes into effect next week. The Securities and Exchange Commission (SEC) rule boosts investor disclosures by requiring off-exchange…
Jobless Claims Rise Above Expectations to Highest Level in a Month
The number of U.S. workers who filed for unemployment rose above expectations last week to the highest level in a month, new government figures show. First-time filings for unemployment insurance—a proxy for layoffs—came in at 351,000 for the week ending on Sept. 18, an increase of 16,000 from the previous week’s revised level of 335,000,…
Investors Watch US Companies’ Record Profit Margins as Costs Rise Further
September 23, 2021
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Business & EconomyCompaniescostsEconomieseconomyInvestmentinvestorsMarginsMarket WatchMarketsprofitRECORDriseUS
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NEW YORK—U.S. companies have retained strong profit margins through the pandemic because they have cut costs and passed along high prices to customers. The question is: How long can this go on? With inflation still strong, the ability for companies to keep margins at record levels is being closely watched by some investors and strategists…
Restaurant-Software Maker Toast Valued at Nearly $33 Billion as Shares Surge in Debut
Toast Inc fetched a valuation of nearly $33 billion in its New York Stock Exchange debut on Wednesday, as shares of the restaurant software provider jumped 63 percent, underscoring a deep investor appetite for fast-growing software firms. The stock opened at $65.26, compared with its initial public offering price of $40 per share. The valuation…
Asian Shares, Wall Street Hold Gains After Fed Signals It May Taper Soon
Asian shares were mostly higher on Thursday after the Federal Reserve signaled it may begin easing its extraordinary support measures for the economy later this year. Shares rose in Hong Kong, Shanghai, Australia, and Taiwan but fell in South Korea and Malaysia. U.S. futures were higher. Markets were closed in Tokyo. The U.S. central bank…
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