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11:02 a.m. Jan. 15, 2021 - By Ciara Linnane
Global deaths from COVID-19 top 2 million as U.S. suffers most weekly fatalities since start of the pandemic Weekly deaths exceed CDC’s estimate for flu-related deaths for entire 2019-2020 season The global case tally for the coronavirus-borne illness COVID-19 climbed above 93 million on Friday and the death toll climbed above 2 million, with the U.S. leading all nations by cases and fatalities.
12:04 p.m. Dec. 16, 2020 - By Mark DeCambre
Nasdaq ends at record, S&P 500 narrowly misses closing high as Fed emphasizes 0% interest rates through 2023 U.S. stocks finished at or near records on Wednesday, though the Dow closed nearly flat, as the Federal Reserve did little to indicate a change of the regime of ultralow interest rates amid the pandemic. The Fed said it was optimistic on the current recovery but emphasized that the outlook for the economy will hinge on how the U.S. deals with the worst viral outbreak in more than a century. Federal-funds rates were held at a range between 0% and 0.25%, as expected, as Washington tries to hammer out an agreement on another round of financial aid to combat the economic harm from the coronavirus. The central bank increased its GDP forecast but didn't adjust its $120 billion asset purchases, as had been expected by some Fed watchers. "Together these measures will ensure that monetary policy will continue to deliver powerful support for the economy until the recovery is complete," Fed Chairman Jerome Powell said at a news conference after Wednesday's statement was released. "A big yawn," is how Michael Arone, chief investment strategist at State Street Global Advisors, described the policy update to MarketWatch, immediately after the release. The Dow Jones Industrial Average closed down by about 44 points, or 0.2%, at around 30,155; the S&P 500 index rose 0.2% to 3,701, just shy of its Dec. 8 closing record at 3,702.25' while the Nasdaq Composite Index booked a 0.5% rise to a record close at about 12,658. In economic reports, a retail sales report showed that the economy may be slowing as coronavirus cases surge. U.S. retail sales dropped a seasonally adjusted 1.1% in November from the prior month. The data and Fed update come as congressional lawmakers were hammering out a roughly $900 billion deal that was expected to include another round of direct payments to households, The Wall Street Journal reported. In corporate news, Shares of Facebook Inc. were in focus after it launched a PR assault against Apple Inc. claiming the iPhone maker's upcoming mobile operating system update will hurt small businesses. Bond yields also edged higher, with the 10-year Treasury note yielding 0.92%.
11:09 a.m. Oct. 7, 2020 - By Ciara Linnane
Coronavirus update: U.S. death toll tops 211,000 as doctors caution that Trump is entering a key phase in his diagnosis White House adviser Stephen Miller is latest to test positive for coronavirusThe U.S. death toll from the coronavirus illness COVID-19 edged above 211,000 on Wednesday, as doctors and medical experts said President Donald Trump is entering a key phase in the illness which can take a turn for the worse seven to 10 days into the onset of symptoms.
8:01 a.m. Sept. 14, 2020 - By Michael Ashbaugh
Charting another bullish reversal: S&P 500, Nasdaq rally from key support Focus: Japan’s stealth breakout attempt, Amazon narrowly holds key support, EWJ, AMZN, VFC, CROX, TMU.S. stocks are firmly higher early Monday, rising amid renewed vaccine optimism as well as merger and acquisition activity. Against this backdrop, the S&P 500 and Nasdaq Composite are concurrently rising from major support closely matching the 50-day moving average. The tandem successful retests preserve a bullish intermediate-term bias.
8:13 a.m. Aug. 28, 2020 - By Michael Ashbaugh
Bullish momentum persists: S&P 500, Nasdaq sustain key technical breakouts Focus: 10-year yield tags two-month high, Airlines clear key trendline, TNX, JETS, COUP, MDT, TNDMU.S. stocks are higher early Friday, rising after a solid batch of economic data and as markets continue to digest recently dovish Federal Reserve policy remarks. Against this backdrop, the big three U.S. benchmarks are vying to build on already-consequential week-to-date technical breakouts.
8:25 a.m. Aug. 27, 2020 - By Michael Ashbaugh
Charting the S&P 500’s persistently wild 2020 ride Focus: Technology sector scores massive single-day spike, Salesforce.com (+26%), Facebook (+8%), Netflix (+12%), Adobe (+9%) — in one dayU.S. stocks are higher early Thursday, rising amid market-friendly Federal Reserve policy language. In the process, the S&P 500 and Nasdaq Composite have extended decisive breaks to record territory — clearing the 20-day volatility bands — while the Dow industrials have concurrently spiked to six-month highs.
8:04 a.m. Aug. 19, 2020 - By Michael Ashbaugh
Nasdaq breaks to uncharted territory, S&P 500 (narrowly) nudges a record high Focus: Small- and mid-cap benchmarks assert holding pattern as August rotation persistsU.S. stocks are higher early Wednesday, rising after a mixed batch of earnings reports, and ahead of the Federal Reserve’s meeting minutes, due out this afternoon. Against this backdrop, the Nasdaq Composite has extended a respectable break to record territory, while the S&P 500 has scratched out nominal record highs across consecutive sessions.
12:54 p.m. Aug. 18, 2020 - By Joy Wiltermuth
S&P 500, Nasdaq score record closes, reclaim their perch at all-time highs Dow closes lower, but 6% off record highMajor U.S. stock indexes finished Tuesday mostly in record territory, despite ongoing wrangling in Congress over a further coronavirus aid and concerns about how the economy will fare when an unprecedented raft of fiscal stimulus eventually burns off.
8:10 a.m. July 29, 2020 - By Michael Ashbaugh
Bull trend pauses: S&P 500 traverses the range Focus: Mid-year currency cross currents persist, UUP, FXE, FXY, PG, TGT, UALU.S. stocks are higher early Wednesday, rising ahead of the Federal Reserve’s latest policy statement, due out this afternoon. Against this backdrop, the S&P 500 remains range-bound, for now, though its intermediate-term path of least resistance continues to point higher.
2:05 a.m. July 24, 2020 - By Ciara Linnane
Coronavirus update: Global COVID-19 cases top 15 million, U.S. cases pass 4 million, and California has more cases than New York Tesla surprises investors with an adjusted profit even after it was beset by pandemic-related stoppages at California plantThe number of confirmed cases of the coronavirus illness COVID-19 worldwide climbed above 15 million on Thursday and the U.S. case tally passed 4 million, as California’s case tally rose above early U.S. hot spot New York following a surge in new infections in recent weeks.
5:35 a.m. July 16, 2020 - By Barbara Kollmeyer
Stick to Apple and Microsoft, at least for now, says this fund manager Critical information for the U.S. trading dayOur call of the day zeros on three big tech stocks that a Boston Private fund manager says are still delivering the goods for investors.
12:37 p.m. July 15, 2020 - By Sunny Oh
Dow ends 228 points higher as vaccine optimism outshines rising coronavirus cases Apple shares eke out gain, after EU court battle win over $15 billion tax billU.S. stock indexes closed modestly higher on Wednesday, as investors focused on COVID-19 vaccine hopes and early signs of an economic upswing, rather than the toll of the pandemic.
11:25 a.m. July 8, 2020 - By William Watts
‘The idea sounds relatively ludicrous’...Why currency analysts don’t believe Trump administration will pursue a proposal to undermine Hong Kong dollar peg Plan runs risk of backfiring, economists sayA proposal reportedly under consideration by U.S. officials that would take aim at the Hong Kong dollar’s peg to the U.S. currency is being met with disbelief by economists and currency traders. Here’s why.
12:35 p.m. July 7, 2020 - By Joy Wiltermuth
Dow ends nearly 400 points lower, U.S. stocks swoon, on doubts of quick economic recovery Trump starts process for U.S. to quit World Health OrganizationU.S. stocks on Tuesday tumbled in the final hour of trade, ending a 5-day win streak for the S&P 500, as investors grew more wary of the economic, public-health and policy response to the coronavirus pandemic.
4:50 a.m. June 26, 2020 - By Greg Robb
Central banks need to re-think rules on risk-taking at hedge funds, insurance companies and even corporations, IMF’s market division chief says Central banks did the right thing in being aggressive, fast and large, but there are consequences for risk takingEmergency actions by central banks to shore up the financial system in the face of the coronavirus pandemic earlier this year were appropriate, but regulators will need to re-think the rules about risk-taking for hedge funds and insurance companies, often called non-banks that operate in the “shadow banking system”, the top financial regulator at the International Monetary Fund says.
12:35 p.m. June 25, 2020 - By Mark DeCambre
Dow logs a 300-point gain as banks rally ahead of stress-test results, but rise in coronavirus cases remains a worry Investors weight slight improvement in economic data and loosening of financial regulation against rising daily rate of coronavirus cases U.S. stocks closed solidly higher Thursday, recovering a chunk of Wednesday’s ugly loss, ahead of a key update of the banking sector from the Federal Reserve.
5:03 a.m. June 24, 2020 - By Mohamed A. El-Erian
U.S. political squabbling could doom the world to lower growth, wider inequality and dangerously distorted markets, says Mohamed El-Erian The world still looks to the U.S. to lead on the economy, but America is in no shape to driveThe most likely outcome is lower growth, worsening inequality, distorted markets, and rising financial risks. But this outcome is not preordained, says Mohamed El-Erian.
6:57 a.m. June 22, 2020 - By Peter Morici
U.S. should sanction Chinese banks for repression in China If Hong Kong is no longer free, then Washington should revoke its special privileges in trade and banking The Trump administration could accomplish real results by jointly sanctioning Hong Kong and Chinese banks to punish Beijing for its repression of its people..
7:55 p.m. June 18, 2020 - Associated Press
Asian markets mixed amid concern over coronavirus hotspots Stocks edge up in Tokyo, down in Hong KongAsian stock markets were mixed Friday after Wall Street closed little-changed amid as optimism about a possible global economic recovery was tempered by concern over rising coronavirus infections.
8:03 p.m. May 26, 2020 - Associated Press
Asian markets mixed as tensions flare in Hong Kong Hang Seng retreats as new laws debated; Nikkei recovers from early lossesMajor Asian stock markets were mixed Wednesday as U.S.-Chinese tension over Hong Kong competed with optimism about recovery from the coronavirus pandemic.
6:10 a.m. May 26, 2020 - By Barbara Kollmeyer
BlackRock portfolio manager says stock investors should watch out for these blind spots right now Critical information for the U.S. trading dayStocks are looking up for Tuesday, as investors get back to work after the Memorial Day weekend. Our call of the day says there is plenty that investors don’t understand right now, which could trip them up in future.
1:36 a.m. May 26, 2020 - By Steve Goldstein
Why one strategist says these hard-hit stocks will rebound — even if there’s a second wave to the pandemicOne strategist says the economy is better prepared for a new wave of infections — and value stocks are near a point where they will lead the market.
12:40 p.m. May 15, 2020 - By Mark DeCambre
'Asset prices remain vulnerable to significant price declines should the pandemic take an unexpected course,' says FedThe markets are vulnerable to a pullback, said the Federal Reserve in the central bank's most recent account of the health of the financial markets in the aftermath of coronavirus. "Asset prices have been volatile across many markets," the central bank wrote in its on the financial sector published at 4 p.m. Eastern Time on May 15. "Since their lows in late March and early April, risky asset prices have risen and spreads have narrowed in key markets, the Fed wrote. "Asset prices remain vulnerable to significant price declines should the pandemic take an unexpected course, the economic fallout prove more adverse, or financial system strains reemerge," policy makers explained. Fed Chairman Jerome Powell said earlier this week that a lengthy downturn could turn liquidity problems into solvency issues. The Dow Jones Industrial Average , the S&P 500 index and the Nasdaq Composite Index have all surged by more than 20% since hitting a bear-market low on March 23, with a number of high-profile investors warning that valuations may have gotten lofty amid the worst viral outbreak in more than a century. The COVID-19 pandemic has killed nearly 300,000 people globally and infected more than 4 million people, according to data compiled by Johns Hopkins University. The Fed was forced to unleash a series of unprecedented actions to limit the economic damage from forced shutdowns and closures intended to curtail the spread of the deadly pathogen. Those lockdowns, however, have likely pushed the domestic economy into one of its worst recessions since the Great Depression, with some 36.5 million people out of work over the past two months. "Uncertainty remains high and markets remain volatile relative to historical norms, suggesting the possibility of further price declines should developments prove more adverse than expected," .
2:40 a.m. May 15, 2020 - By Ciara Linnane
Coronavirus update: Global death hits 300,000; poll finds most Americans disapprove of Trump’s handling of crisis Cisco says the pandemic is worse than the dot-com bust of 2000 and the 2008 crisis; Uber-Grubhub deal talks push aheadThe global death toll from the coronavirus that causes COVID-19 edged closer to 300,000 on Thursday, as a new poll found the majority of Americans disapprove of President Donald Trump’s handling of the pandemic.
10:34 a.m. May 14, 2020 - By Sunny Oh
Overseas investors can’t get enough of America’s debt Purchases of U.S. Treasurys and government-backed mortgage bonds by Japan hit a record in MarchJapan’s purchases of U.S. Treasurys ramped up in March, suggesting foreign investors may not be worried about the U.S.’s budget deficits.
6:45 a.m. May 13, 2020 - By Chris Matthews
Investors should prepare for a U.S. ‘economic depression,’ warns Kyle Bass, but China’s fate could be even worse Hedge-fund manager predicts U.S. economy could contract upwards of 10%Kyle Bass made his name betting against the U.S. housing market more than a decade ago, and now he is predicting an economic contraction that could be more than three times as severe as that suffered during the Great Financial Crisis.
12:23 p.m. May 12, 2020 - By Chris Matthews
Dow books 450 point loss as stocks record biggest one-day slump since May 1 Nasdaq breaks six-day win streakU.S. stocks end sharply lower on Tuesday, erasing the previous day’s gains, as investors monitor tentative efforts to reopen the economy and weigh tensions between Washington and Beijing.
11:55 a.m. May 12, 2020 - By William Watts
Here’s what China’s coronavirus shutdown did to global supply chains China lost market share, likely accelerating a trend toward more diversified supply chains: New York Fed economistChina has lost market share when it comes to U.S. imports, possibly strengthening a trend that’s seen manufacturers move capacity back to the U.S. or ensure their supply chain is less dependent on a single country, according to a paper by a New York Federal Reserve economist.
5:34 a.m. May 12, 2020 - By Mark DeCambre
Dow opens up more than 100 points as consumer prices sink by the most since the 2008 financial crisisU.S. stocks opened headed higher early Tuesday as investors watched the latest development on the pandemic and the responses of state and federal agencies to limit the economic impact from the deadly disease. The Dow Jones Industrial Average was up 150 points, or 0.6%, at 24,371, the S&P 500 index rose 0.5% at 2,945, while the Nasdaq Composite Index advanced 0.6% at 9,245. The moves for the major benchmarks come as consumer prices sank 0.8% in April, led by tumbling gasoline prices, marking the biggest decline since the 2008 Great Recession. The pace of inflation over the past 12 months slowed to 0.3% from 1.5% in March and 2.5% at the start of 2020. Meanwhile, The Federal Reserve Bank of New York is set to begin buying corporate-bond, exchange-traded funds Tuesday, marking a historic expansion of the central bank's efforts to support the economy and financial system during the most significant financial crisis in nearly a century sparked by the COVID-19 pandemic.
10:52 a.m. May 11, 2020 - By Arvind Subramanian
The coronavirus is accelerating America’s decline The federal government’s response to the pandemic exposes incompetence and decay. The consequences will play out over years to come.The federal government’s response to the pandemic exposes incompetence and decay. The consequences will play out over years to come.
5:14 a.m. May 8, 2020 - By Selin Bucak
Here’s another reason Turkey’s lira may keep tumblingThe Turkish lira fell to a record low against the U.S. dollar this week and reports say the government has tried to stop the slide by taking action against three foreign banks.
8:12 a.m. April 30, 2020 - By Daniel Gorfine
The U.S. needs these 4 upgrades to its digital infrastructure to effectively fight the coronavirus U.S. needs upgrade on four digital fronts: payments; currency; identity, and dataGlitches with coronavirus relief money expose flaws in technology, write Daniel Gorfine and Kabir Kumar.
5:49 a.m. April 28, 2020 - By Barbara Kollmeyer
These two signals will soon tell us if investors are fighting a ‘losing game’ with stocks, says top strategist Critical information for the U.S. trading day Our call of the day worries investors are fighting a ‘losing game’ with stocks. Jim Bianco of Bianco Research is opting for cash and gold these days and keeping a close eye on big economic signals coming in the next couple of weeks.
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