Dow's up 600 points in final half-hour of session after Powell's remarks
Dow's up 600 points in final half-hour of session after Powell's remarks
Dow's up 600 points in final half-hour of session after Powell's remarks
Hennessy Funds Chief Investment Officer Ryan Kelly said the money manager remains overweight on traditional oil and gas companies in its mutual funds, including the Hennessy Energy Transition Fund , as a bet for more positive returns in 2023. Top holdings in the fund include EOG Resources Inc. , Antero Resources Corp. and Schlumberger Ltd. . Even if oil prices stabilize, the energy companies are expected to continue to throw out ample cash, Ryan said at a press event on Wednesday. Hennessy Cornerstone... Читать дальше...
Oil futures climbed on Wednesday, buoyed by a hefty weekly decline in U.S. crude inventories. Traders also looked for signs of any easing of China’s zero-COVID restrictions, which have influenced energy demand, and hints on major oil producers’ decision on production levels expected Sunday. Tyler Richey, co-editor of Sevens Report Research, said the Organization of the Petroleum Exporting Countries and their allies are not expected to make any changes to current output targets, which should leave... Читать дальше...
Gold futures finished a bit lower on Wednesday as Federal Reserve Chairman Jerome Powell spoke at the Brookings Institution, but prices ended the month with their first monthly gain since March. Silver also posted a rise for the month, its largest monthly percentage rise since December 2020. “A weaker U.S. dollar and falling 10-year Treasury rates…will continue to support gold and silver prices,” said Jeff Klearman, portfolio manager at GraniteShares, which runs the GraniteShares Gold Trust BAR. Читать дальше...
Businesses are filling fewer open jobs and inflation has started to wane --- but not fast enough for the Federal Reserve. The central bank wants the labor market to cool off even faster to help keep inflation in check.
Alphabet Inc.'s Google has been sued for £13.6bn ($16.3 billion) over claims its dominance of the digital-advertising market has amassed "super profits" at the expense of hundreds of thousands of websites and mobile apps in the U.K. The class-action lawsuit, filed Wednesday in the Competition Appeals Tribunal in London, is being brought on behalf of 130,000 businesses that carry online banner ads. A Google spokesman said the company "works constructively with publishers across Europe -- our advertising tools... Читать дальше...
Deutsche Bank analyst Emmanuel Rosner said in a note Wednesday he expects November U.S. light-vehicle seasonally adjusted annual rate to come in around 14.1 million vehicles, down from 15.3 million in October but still "much improved" from November 2021's 13.1 million, when supply-chain shortages plagued sales. Total sales could be up about 10% year-on-year, including retail unit sales up about 1% on-year and fleet sales up 82% from a year ago, Rosner said. "Looking ahead, we continue to expect... Читать дальше...
Washington looks on course Wednesday to block a looming railroad strike, as the House passes a bill that would impose a deal on freight-rail workers.
Federal Reserve Chairman Jerome Powell said Wednesday that the time for slowing the pace of interest-rate increases may come as soon as the meeting in two weeks.
Hormel Foods stock slid Wednesday after a sales miss and soft guidance amid high costs and a volatile environment
U.S. stocks rallied Wednesday afternoon after Federal Reserve Chairman Jerome Powell said the central bank could slow the pace of interest-rate hikes in December. “The time for moderating the pace of rate increases may come as soon as the December meeting,” Powell said during a speech at the Brookings Institution. The S&P 500 SPX gained 15.86 points, or 0.4%, to 3,973.49. The Dow Jones Industrial Average DJIA advanced 17.11 points, or 0.1%, to 33,869.64. The Nasdaq Composite COMP gained 106.25 points... Читать дальше...
Stocks turn higher after Powell says pace of rate hikes will slow in December
Once one of Wall Street's most vocal bulls, JP Morgan Chase & Co. equity analyst Marko Kolanovic released a much more downbeat outlook for stocks on Wednesday, calling for equity prices to stumble early next year as the Federal Reserve's interest-rate hikes batter the U.S. economy.
Tune in to watch Fed Chairman Jerome Powell's speech at the Brookings Institution at 1:30 p.m. Eastern.
Inflation is taking its toll on people's finances.
XPeng stock is on a record rally as bulls shrug off bad earnings results
Shares of Wayfair Inc. were up 7% in midday trading Wednesday after the online home-goods retailer provided information about its holiday-weekend performance and signaled that business trends have recently improved. Wayfair disclosed in a filing that it saw a low-single-digit increase in U.S. sales during the five-day span from Thanksgiving to Cyber Monday, relative to a year before. Chief Executive Niraj Shah added in the filing that "leading up to Cyber Five, our November year-over-year revenue... Читать дальше...
The oil industry faces an earnings decline, but the long-term outlook is healthy, according to analysts at Jefferies.
The shock jock said Oprah Winfrey should be more 'self-aware,' and that flaunting wealth is 'something I’m not comfortable with'
Investors took some cheer this week from China’s latest COVID policy after massive anti-lockdown protests erupted across the country, rattling global financial markets, but economists think that markets have placed a “too high probability” on restrictions being relaxed soon.
The 1-year Treasury yield , which captures the bond market's expectations for the direction of interest rates within that time frame, rose to as high as 4.87% on Wednesday and appeared to be headed for its highest level since 2007. Traders are increasingly factoring in the likelihood that Federal Reserve officials will push the fed-funds rate target up toward 5% by next year, versus its current level between 3.75% and 4%. If the 1-year rate finishes the New York session at or around 4.87%, that would be the highest level since Aug. Читать дальше...
Realtor.com’s housing forecast anticipates that affordability will remain an issue in 2023, particularly among first-time buyers.
Results of a clinical trial point to a stable future for Eisai and Biogen's lecanemab once the therapy is approved by the Food and Drug Administration.
Build-A-Bear Workshop Inc. stock soared 19.8% Wednesday, after the maker of teddy bears and other soft toys blew past estimates for fiscal third-quarter earnings as shoppers returned to stores as pandemic worries eased. The stock was on track for its biggest percentage gain since August 7 of 2015. The St. Louis, Mo.-based company posted net income of $7.5 million, or 51 cents a share, for the quarter to Oct. 29, up from $5.9 million, or 36 cents a share, in the year-earlier period. Revenue rose... Читать дальше...
Investor psychology often leads crypto 'true believers' right back to more crypto, even if returns falter.
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