Category: Market Summary
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S&P 500 Earnings to Decline, Tesla to Build Shanghai Factory, Speculators Bet Against Treasuries
Markets React to Jobs Data Asian stocks gave up gains, and US equity futures fell in light trading as investors evaluated the Federal Reserve’s policy following Friday’s US jobs data. US stock contracts declined, and Treasury yields dropped across the curve in Asia after jumping Friday. The US monthly payrolls data boosted bets on a…
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Investors Flock to Cash, Bond Market Rally Concerns
Minor Gains in European Markets European stocks experienced minor gains on Friday, as traders remained on the lookout for the potential impact of higher interest rates on inflation. The Stoxx 600 (STOXX:SSXP), which covers the entire region, experienced a 0.3% increase after eurozone inflation fell more than anticipated and is on course to finish the…
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Global Deal-Making Slows, Ford’s Battery Investment, Wells Fargo Sanctions Fine
US Shares Rise On Thursday, US shares rose, taking Europe’s lead, as investors assessed the future path of monetary policy following weeks of turmoil for banks on both sides of the Atlantic. Wall Street’s benchmark S&P 500 (SPI:SP500) rose 0.6%, with all industries advancing except for financials. JPMorgan (NYSE:JP) and Morgan Stanley (NYSE:MS) both lost…
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Bonus Pool Decreases on Wall Street, H&M Surprises with Profit
Bet on Fed Rate Cut Pays Off A bet was made in January that the Federal Reserve would lower its benchmark rate to 1.5% by the end of the year, and it appears to have been closed for a profit of $10 million after almost becoming worthless in February due to banking turmoil. The bet…
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Meta May Ban Political Ads, Real Estate Valuations Plummet
European Stocks Rally European stocks rose, following a rally on Wall Street that saw the tech-heavy Nasdaq 100 rise to a bull market, as investors bet that interest rates have peaked and bank instability will ease. The Stoxx Europe 600 Index was led by technology, real estate, and retail shares, with Hennes & Mauritz AB…
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Real Estate Stocks Facing Challenges, Google Launches Ads Transparency Center, Lucid to Cut Workforce by 18%
European Equities Rise On Wednesday, European equities rose while Asian stocks were buoyed by the announcement that Chinese ecommerce giant Alibaba would split into six business units. UBS (NYSE:UBS) saw a 2.2% rise in its shares after announcing that Sergio Ermotti would become its CEO, leading its takeover of Credit Suisse (NYSE:CS). The Stoxx 600…
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Apple’s Buy Now Pay Later, FTX Founder Bribery Charge, UBS Appoints Sergio Ermotti
Adidas Objects to BLM Adidas (XETRA:ADS) lawyers have asked America’s trademark regulators to reject the logo submitted by Black Lives Matter, an anti-racist foundation, citing that BLM’s design, three yellow stripes, could easily be mistaken for Adidas’ famous motif. The German sportswear giant has previously admitted to having too few black staff members, following employee…
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Market News: Banking Sector Rebounds, Alibaba to Restructure, Multinationals Worry EU
Banking Sector Rebounds Investors realized that regional lenders are in better condition than initially feared following the collapse of Silicon Valley Bank. Bank shares rallied on Monday and U.S. Treasury prices fell after First Citizens Bancshares (NASDAQ:FCNCA) reached a deal to buy large pieces of Silicon Valley Bank (NYSE:SVB). Analysts are increasingly confident that the…
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Market News: Deutsche Bank Vulnerabilities, Binance Faces Lawsuit, Eurozone Deposit Outflows
Deutsche Bank Vulnerabilities After a decline last week, Deutsche Bank (NYSE:DB) shares regained their position and rose by 6% on Monday. However, investors are still concerned and have begun examining the bank’s vulnerabilities. The bank’s default credit swap cost decreased on Monday, but it is still at pandemic levels. UBS Group AG’s (NYSE:UBS) merger with…
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Market News: First Citizens Bank to Purchase SVB, Chairman of SBN Resigns, Accenture to Cut 19,000 Jobs
Record Inflow into US MMFs So far this year, more than $286bn has flowed into US money market funds, the biggest inflow since the Covid-19 crisis. The collapse of two regional US banks and the rescue of Credit Suisse (NYSE:CS) by banks has raised concerns about the safety of bank deposits. Goldman Sachs (NYSE:GS), JPMorgan…