3:45 p.m. March 5, 2021
Electricity Utilities’ Seismic Shift
Letters on electric utility companies, the best online brokers for 2021, bond market vigilantes, and Arturo Di Modica’s Charging Bull
2:45 p.m. March 5, 2021
Lael Brainard is a member of the board of governors of the Federal Reserve
2:42 p.m. March 5, 2021
Vaccines Put Some Pep in the Step of Travel Stocks
Stocks of airlines and cruise lines have been among the biggest victims of the pandemic. But as hopes for a recovery rise, these company have been raising funds and watching their shares take off.
2:35 p.m. March 5, 2021
Meet Our 100 Most Influential Women in U.S. Finance for 2021
Twenty-eight new names join Barron’s list of path-breakers in the public and private spheres
1:59 p.m. March 5, 2021
The Reflation Trade Is Stirring Growing Pains in Growth Stocks. Here’s Why.
The Dow Jones Industrial Average, with its bias toward big, economically sensitive companies, rose 1.8% on the week, while the more balanced S&P 500, climbed 0.8%. The Nasdaq Composite, home to high-priced growth stocks tumbled 2.1%.
1:16 p.m. March 5, 2021
- By Meera Jagannathan
I found an old lien on my home from a past refinance. How do I get rid of it? and millions of Americans, still hurting from COVID-19, say normalcy is years away Friday’s top personal finance stories Friday’s top personal finance storiesFriday’s top personal finance stories
12:31 p.m. March 5, 2021
Bitcoin Isn't Acting Like an Inflation Hedge. Gold Isn't Either.
The debate over whether Bitcoin is a speculative asset or an inflation hedge has been put to the test.
12:26 p.m. March 5, 2021
Why Warren’s Wealth Tax Could Be Good for Investors
A modest recurring fee paid by the ultrarich to the government would incentivize stewards of large fortunes to look for high-returing investments, create a market in shares of privately held companies, and improve the data available to investors
12:17 p.m. March 5, 2021
- By Greg Robb
Fed officials echo Powell's dovish message Federal Reserve officials on Friday reinforced the dovish message Fed Chairman Jerome Powell delivered 24 hours earlier.
11:27 a.m. March 5, 2021
The Dow Rises 572 Points to Close a Bumpy Week
Stocks rebounded from early losses to close sharply higher. The Nasdaq still posted a weekly decline, its third in a row.
11:24 a.m. March 5, 2021
- By Mark DeCambre
U.S. stocks close sharply higher in volatile trade as bond yields steady after strong jobs reportU.S. stock benchmarks recovered lost ground Friday afternoon in volatile trade, as the rise in bond yields steady, despite a stronger-than-expected monthly jobs update from the Labor Department that offered evidence of an economy recovering from the effects of COVID-19.
11:00 a.m. March 5, 2021
- By Sunny Oh
10-year U.S. Treasury yield hits highest in a year, after 5 straight week gains U.S. Treasury yields are higher on Friday after the February employment report from the Labor Department showed bigger-than-expected job gains.
10:53 a.m. March 5, 2021
- By Greg Robb
Credit-card borrowing declines in January, as Americans use stimulus checks to pay down debtConsumer credit increased $1.3 billion in January, up 0.4% from the prior month, but credit card borrowing slumped for the fourth straight month, the Federal Reserve said Friday.
10:15 a.m. March 5, 2021
- By Steve Goldstein
What's next for markets, after the Fed's Powell signals he's not riding to the rescue just yetThe head of the U.S. central bank isn’t alarmed by the rise in bond yields — so here's what analysts expect to happen now.
9:27 a.m. March 5, 2021
Will the Fed Cap Bond Yields? Not With Stocks Still Near Peaks.
Shares slide as the central bank’s sanguine stance disappoints investors. Are we witnessing a crude form of Modern Monetary Theory?
9:03 a.m. March 5, 2021
- By Myra P. Saefong
Gold prices end below $1,700 as markets weigh hot February U.S. jobs reportGold futures end below the key $1,700 mark, with prices posting a third straight weekly loss, as the U.S. dollar index touched its highest level in over three months and U.S. Treasury yields briefly topped 1.6% .
6:39 a.m. March 5, 2021
February's Jobs Report Was Really Good
U.S. businesses added 379,000 jobs in February, topping expectations, as signs of the economic recovery gather pace.
6:05 a.m. March 5, 2021
Treasuries Just Had Their Third-Worst Start to a Year Since 1830
The losses have been driven by improving growth and inflation expectations.
5:57 a.m. March 5, 2021
- By Ciara Linnane
U.S. COVID-19 death toll tops 520,000 as Dr. Fauci cautions against reopening too soonThe U.S. death toll from the coronavirus-borne illness COVID-19 climbed above 520,000 on Friday, as Dr. Anthony Fauci became the latest health expert to slam state officials for prematurely dropping restrictions on movement at a time when their case numbers remain high and their vaccine programs are making slow progress.
4:44 a.m. March 5, 2021
- By Barbara Kollmeyer
European stocks claw back territory after strong U.S. jobs dataEuropean stocks shook off earlier losses after strong U.S. jobs data, a day after Federal Reserve Chair Jerome Powell hinted the central bank wasn't ready to stop rising bond yields.
4:31 a.m. March 5, 2021
- By Andrea Riquier
Stocks open higher after sell-off as jobs data surprises to the upsideU.S. stocks opened higher on Friday after several days of intense selling prompted by concerns that stronger economic growth would cause the Federal Reserve to start normalizing monetary policy sooner than expected. The Dow Jones Industrial Average gained 278 points, 0.9%, to open near 31,203 while the S&P 500 traded 38 points, 1%, higher, near 3,806. The Nasdaq Composite jumped 1.1% or 137 points to trade near 12,860. Employers added more jobs than analysts had expected in February, the Labor Department said Friday before the opening bell. Stock futures initially weakened, but then rallied. Shares of Big Lots Inc. jumped in early trade Friday, after the discount retailer reported a fiscal fourth-quarter profit that beat expectations and offered a rosy first-quarter outlook.
4:28 a.m. March 5, 2021
- By Barbara Kollmeyer
FTSE-100 spurred higher by oil prices and as the Fed's Powell drives dollar higherA weak pound and strong oil prices were supporting the FTSE 100 on Friday.
4:25 a.m. March 5, 2021
- By Jeffry Bartash
U.S. economy adds 379,000 jobs in February as hiring speeds upThe U.S. created 379,000 new jobs in February --- the biggest gain in four months --- in what's likely to be a preview of a surge in hiring in the months ahead as most people get vaccinated and the economy fully reopens. The unemployment rate slipped to 6.2% from 6.3%.
3:37 a.m. March 5, 2021
- By Sunny Oh
10-year Treasury yield shoots above 1.60% after jobs reportU.S. Treasury yields climbed after the February jobs report showed higher-than-expected job gains, adding to doubts whether the Federal Reserve will able to stay as accommodative for as long as they have signaled. The 10-year Treasury note yield rose 6.2 basis points to 1.612%, a February high, while the 2-year note rate was up 0.6 basis point to 0.151%. The 30-year bond yield rose 3 basis points to 2.33%. The U.S. economy added 379,000 jobs in February, above the forecast of 210,000.
3:10 a.m. March 5, 2021
Why This Crazy Market Makes Sense
Powell won’t intervene to slow rising rates, mortgage rates hit 3%, oil is at its highest price since 2018, and other news to start your day.
3:00 a.m. March 5, 2021
Biden Is Shutting Out Wall Street. Investors May Be in for a Surprise.
For the first time in decades, a presidential administration has no big names from Wall Street. Markets will feel the absence.
6:31 p.m. March 4, 2021
Asian markets retreat as U.S. bond yields continue to rise That angst has spilled into world markets that have thrived on massive monetary stimulus from the world's central banks.
1:10 p.m. March 4, 2021
- By Joy Wiltermuth
5 reasons why negative repo
rates are different than the last overnight-funding crisisRates to borrowers in the overnight U.S. Treasury market went negative heading into Thursday, a situation BofA Global analysts were predicting would happen "by May,” without tweaks from the central bank.
12:35 p.m. March 4, 2021
Tech Selloff Continued After Powell's Speech
Powell reiterated the Fed is unlikely to alter policy until it sees signs that the unemployment rate will drop significantly and that inflation will rise sustainably.
12:00 p.m. March 4, 2021
- By MarketWatch
Stock market crash? No, but rising bond yields are sparking a nerve-racking rotation below the surfaceDespite the hashtags, the stock market is far from “crash” territory, as anyone with a working memory of last year's pandemic-inspired selloff would recall. But a rotation away from the market's recent leaders does appear to be under way.
11:52 a.m. March 4, 2021
The Dow Fell 345 Points Because the Fed Couldn’t Save the Day
Fed Chair Jerome Powell said the agency wouldn’t deviate from its current policy. Rates spiked and stocks, particularly growth, tumbled.
11:22 a.m. March 4, 2021
- By Sunny Oh
Dow slides, Nasdaq hits three-month low after Powell struggles to soothe bond marketStock benchmarks finished sharply lower Thursday as Federal Reserve Chairman Jerome Powell said he was monitoring the recent rise in bond yields but added that the inflation expected this year was unlikely to last
11:19 a.m. March 4, 2021
- By Mark DeCambre
Dow logs first close below 50-day moving average in over a month after Thursday's interest rate-fueled selloff The Dow Jones Industrial Average and the S&P 500 on Thursday marked their first finishes below their short-term moving averages in weeks after a market rout apparently precipitated by rising fears that the Federal Reserve may be losing control of inflation and may be forced to jack up borrowing costs faster than they would prefer to cool an overheated economy recovering from the COVID-19 pandemic lockdowns. The Dow closed down 1.1% at around 30,924 to mark its third straight decline, falling below its 50-day moving average at 30,944.98 for the first time since Feb. 1, while the S&P 500 index closed Thursday's trade 1.3% lower for its third consecutive drop, finishing at 3,769, concluding the session below its 50-day MA at 3,818.61 for the first time since Jan. 29.
11:09 a.m. March 4, 2021
- By Mark DeCambre
Nasdaq Composite narrowly avoids first correction in 6 months as Powell stirs up stock-market rout and Treasury-yield surgeA sluggish day in stocks on Thursday took a turn decidely lower following comments from Federal Reserve Chairman Jerome Powell said that he was monitoring a steady climb in yields but failed to provide any guidance on what the central bank might do if yields continued to climb precipitously. Speaking at a webinar hosted by the Wall Street Journal on Thursday after noon, Powell described the Fed's current policy stance as appropriate, perhaps disappointing some investors hoping for more decisive comments on possible adjustments to the central bank's asset purchases. The remarks are credited with triggering a selloff in bonds and stocks, that abated somewhat later in the session, that brought the Nasdaq Composite Index on the brink of falling by 10% from its recent closing high put in on Feb. 12, meeting the commonly used definition for a correction. The Nasdaq ended the session off 2.1% at 12,723, and is now down 9.73% from that record close. Meanwhile, the 10-year Treasury note jumped by about 7 points to around 1.54%. Rising rates have caused friction in equity trading because it forces investors to reassess the relative value of highflying technology and tech-related plays that have enjoyed a bump during the pandemic, compared against other sectors that might perform better headed into an economic recovery. The S&P 500 index closed the session off 1.3% to 3,768, while the Dow Jones Industrial Average finished the day off 1.1% at 30,923. Both finished below their 50-day moving averages for the first time in about four or five weeks, Jan. 29 for the S&P 500 and Feb. 1 for the Dow. At the height of Thursday's selling the Dow was down over 720 points, wiping out its year-to-date gains. The Dow remains up 1% for 2021, the Dow is clinging to a 0.3% year-to-date gain, while the Nasdaq Composite is down 1.3% so far this year.
10:54 a.m. March 4, 2021
The End of Ultralow Rates Is Battering the Stock Market
Jerome Powell didn’t offer any new suggestion that the Federal Reserve might make adjustments to slow the rise in longer-term bond yields.
10:50 a.m. March 4, 2021
- By Sunny Oh
10-year U.S. Treasury yield surges above 1.50% as Powell says he's monitoring bond marketU.S. Treasury yields finished sharply higher on Thursday after Federal Reserve Chairman Jerome Powell said he was watching bond-market moves to see if financial market conditions were tightening.
9:47 a.m. March 4, 2021
Investors Dump 2020's Winners as Tech's Rout Continues
Investors are moving out of cloud, e-commerce, and semiconductor stocks and into other more economically sensitive—and cheaper—issues.
9:27 a.m. March 4, 2021
- By Mark DeCambre
Buzzy stock-market ETFs backed by Portnoy and Wood get crushed Thursday afternoon as the Nasdaq nears correction Cathie Wood's flagship ARK Invest ETF and a VanEck Vectors Social Sentiment backed by Wall Street bro Dave Portnoy are down by at least 4%. The VanEck Vectors Social Sentiment ETF was down 4.3% in Thursday afternoon trade, in its debut. Meanwhile, Wood's ARK Innovation deepened its slide into correction on Thursday, off 6.6%. Both ETFs focus on drawing interest from many of the growthy tech stocks which are in the market's crosshairs as bond yields rise, including electric-vehicle maker Tesla Inc. . On Thursday, bonds took a leg higher after Federal Reserve Chairman Jerome Powell said he was watching the rise in rates but offered no concrete steps the central bank was taking to tamp down rate moves. The 10-year Treasury yield jumped by 7 basis points in afternoon action, hitting around 1.54% and accelerating a sell-off in stocks that are viewed as pricey and that don't offer a coupon. The tech-heavy Nasdaq Composite Index was down nearly 10% from its Feb. 12 peak, meeting the commonly used definition for a correction. The Dow Jones Industrial Average was down more than 400 points, or 1.3%, and nursing a 0.8% year-to-date gain. The S&P 500 index was down 1.6% and holding on to a 2021 gain of less than 0.1%. The Nasdaq Composite was negative for the year, down 1.4%.
9:26 a.m. March 4, 2021
- By Mark DeCambre
Wall Street's 'fear index' surges to highest level in about 5 weeks as Treasury-yield spike sparks stock-market selloffA closely watched gauge of expected stock-market volatility jumped Thursday to around its highest level since the end of January as a tech-led selloff dragged major benchmarks sharply lower. The CBOE Volatility Index is known by its ticker symbol "VIX", rose 5.07 points to 31.44, a gain of nearly 18%. A close at that level would represent the highest level for the so-called fear index since Jan. 29, according to Dow Jones Market Data. The VIX is an options-based measure of expected volatility over the coming 30 days for the S&P 500 . The VIX, which typically jumps during big stock-market selloffs, also tends to fall back during long, gradual rallies, and has remained stubbornly elevated above its long-term average of 19.50 as stocks pushed back into record territory in recent weeks. But a rise in yields and comments from Federal Reserve Chairman Jerome Powell on Thursday breathed new life into the yield rise and prompted a reassessment of stock values compared against rising fixed-income yields. The Dow Jones Industrial Average was under pressure and the technology-laden Nasdaq Composite Index was on the verge of tumbling into correction, defined as a decline of at least 10% from a recent peak.
9:25 a.m. March 4, 2021
The Nasdaq 100 Is Near a Correction. Why It Could Keep Falling.
The tech-heavy index has dropped 9.7% since its February high.