Text size Federal Reserve Chairman Jerome Powell. Kevin Dietsch / Getty Images) Even bear markets get bounces. The stock market had a terrific week, and for the first time in a long time, the rally feels like it can last. The Dow Jones Industrial Average rose 5.4%, the S&P 500 gained 6.4%, and the Nasdaq … Read more
Shares of housing market companies enjoyed a broad rally Friday, after data showing that new home sales surprisingly rose, and sharply, in the face of other signs showing a slowdown in the housing sector. The SPDR S&P Homebuilders ETF XHB, + 2.91% rallied 2.9% in morning trading, with all 35 components trading higher. Among the … Read more
Text size David L. Nemec / New York Stock Exchange The stock market gained Thursday as Federal Reserve Chairman Jerome Powell tested before Congress for a second day. Nothing he has got scared the market — for now. The Dow Jones Industrial Average gained 195 points, or 0.6%, while the S&P 500 rose 1% and … Read more
Text size People walk along Wall Street, near the New York Stock Exchange in New York. Photo by ED JONES / AFP via Getty Images The stock market couldn’t hold on to gains Wednesday, even after Federal Reserve Chairman Jerome Powell told lawmakers that a slower pace of interest rate hikes is possible. Markets are … Read more
Text size Traders work on the floor of the New York Stock Exchange. Spencer Platt / Getty Images The stock market bounced back partially on Tuesday after getting crushed last week as no news proved to be good news. Investors can only hope the rally will last. The Dow Jones Industrial Average rose 643 points, … Read more
The Federal Reserve’s battle to get inflation down from a 40-year high probability means it will raise interest rates until the US economy slows, strategists at the BlackRock Investment Institute warned on Tuesday. “The Fed seems dead set on raising rates this year to levels that, in our view, would clearly slow the economy,” Jean … Read more
TPG said Tuesday it was buying Convey Health Solutions Holdings, a healthcare technology company, for $ 10.50 a share, or $ 1.1 billion. Dreamstime Text size This year’s market downturn has pummeled shares of publicly traded private equity firms, but the group, which includes TPG and Carlyle Group , ultimately is expected to gain from … Read more
The S&P 500 officially hit bear market territory last week and, according to Deutsche Bank, is currently on track for its worst half-year performance since the Great Depression. With the large-cap benchmark SPX, + 2.57% having shed around 22.3% so far in 2022, strategists the bank see the remainder of the year hinging on whether … Read more
Shares of Centene Corp. CNC, -1.06% rallied 1.8% in premarket trading Friday, after the health care company raised its full-year profit and revenue outlook and added $ 3.0 billion to its stock repurchase program. The company also said it was reducing its real estate footprint, as part of its plan to adopt “a more modern, … Read more
Veteran investor and bitcoin bull Michael Novogratz doesn’t have a rosy outlook on the economy, which he described as headed for a substantial downturn, with the likelihood of a “fast recession” on the horizon. “The economy is going to collapse,” Novogratz told MarketWatch. “We are going to go into a really fast recession, and you … Read more