Bulletin
Investor Alert

New York Markets Open in:

Topics

Jones

Video

What are the Dow, S&P 500, and Nasdaq? | How to Invest: Ep. 4

  • What are the Dow, S&P 500, and Nasdaq? | How to Invest: Ep. 4 What are the Dow, S&P 500, and Nasdaq? | How to Invest: Ep. 4 3:26
    A Word of Warning A Word of Warning 9:44
    WSJ Opinion: America's Economy Survives Covid WSJ Opinion: America's Economy Survives Covid 5:41
6:05 a.m. Oct. 21, 2021 - By Jacob Passy
Existing-home sales improve in September, eating up available inventoryExisting-home sales rose 7% on a monthly basis in September, reaching a seasonally-adjusted, annual rate of 6.29 million, the National Association of Realtors said Thursday. Compared to a year ago, though, sales were down roughly 2%. The increase in sales was the result of improved inventory in recent months, which gave buyers more options to choose from and allowed more people to lock in purchases. However, inventory dropped nearly 1% from the previous month as of the end of September, and was down 13% from a year ago.
4:41 a.m. Oct. 19, 2021 - By Jacob Passy
New-home construction subsides as supply-chain and labor problems persistU.S. home builders started construction on homes at a seasonally-adjusted annual rate of 1.56 million in September, representing a 1.6% decrease from the previous month, the U.S. Census Bureau reported Tuesday. Compared with September 2020, housing starts were up 7.4%. The pace of permitting for new housing units also dropped in September. Permitting for new homes occurred at a seasonally-adjusted annual rate of 1.59 million, down 7.7% from August, in line with the rate of permitting from a year ago. Economists polled by MarketWatch had expected housing starts to occur at a pace of 1.61 million and building permits to come in at a pace of 1.67 million. The drop in permits was driven mainly by a decrease in multifamily housing units, though fewer single-family homes were permitted as well. New construction on multifamily buildings also decreased in September, though single-family starts remained flat.
6:39 a.m. Oct. 8, 2021 - By Tomi Kilgore
Avis Budget stock surges to another record, has nearly doubled over the past three monthsShares of Avis Budget Group Inc. shot up 7.3% in morning trading Friday, putting them on track for an eighth record close in the past month, and enough to pace the Dow Jones Transportation Average's gainers. The auto rental company's stock has been by far the best performer among the Dow transports components over the past three months (up 92.4%), year to date (up 263.8%) and for the past year (up 335.3%), while the Dow transports has gained 0.9%, 16.8% and 24.2% over the same periods, respectively, and the Dow Jones Industrial Average has gained 1.0%, 13.6% and 22.3%. On a bright note for Avis, the out earlier Friday showed "notable job gains" in the leisure and hospitality and transportation sectors. And analyst Michael Linenberg at Deutsche Bank said after a recent pullback, corporate airline bookings are "once again on the upswing" and are now approaching levels last seen in early July before the most recent surge in COVID-19 cases. Growth recreational and business travel can be a good sign for car rental companies.
10:46 a.m. Sept. 30, 2021 - By Greg Robb
Yellen throws cold water on trillion-dollar coin solution for debt ceiling stalemateTreasury Secretary Janet Yellen on Thursday said "the only way" to avoid a default on the U.S. debt is for Congress to pass legislation to raise the debt ceiling, throwing cold water on the radical idea of minting a trillion-dollar coin to get around the politically difficult vote. Rep. William Timmons, a Republican of South Carolina, asked Yellen to comment on the idea. He said Speaker of the House Nancy Pelosi "gave oxygen" to the proposed trillion-dollar coin when she mentioned it during a press conference on Wednesday. Timmons asked Yellen to "please tell me this is not a legitimate policy proposal." In response, Yellen said: "I believe that the only way to handle the debt ceiling is for Congress to raise it and show the world, financial markets and the public that we're a country that will pay our bills." However, in a question from Rep. Sean Casten, Democrat from Illinois, Yellen said she would support legislation to remove the requirement for a vote on the debt limit by Congress.
8:50 a.m. Sept. 30, 2021 - By Greg Robb
Yellen throws cold water on trillion-dollar coin solution for debt ceiling stalemateTreasury Secretary Janet Yellen on Thursday said "the only way" to avoid a default on the U.S. debt is for Congress to pass legislation to raise the debt ceiling, throwing cold water on the radical idea of minting a trillion-dollar coin to get around the politically difficult vote. Rep. William Timmons, a Republican of South Carolina, asked Yellen to comment on the idea. He said Speaker of the House Nancy Pelosi "gave oxygen" to the proposed trillion-dollar coin when she mentioned it during a press conference on Wednesday. Timmons asked Yellen to "please tell me this is not a legitimate policy proposal." In response, Yellen said: "I believe that the only way to handle the debt ceiling is for Congress to raise it and show the world, financial markets and the public that we're a country that will pay our bills."
6:38 a.m. Sept. 30, 2021 - By Greg Robb
Senior House Republican defends Powell from Warren's criticismRep. Patrick McHenry, the ranking Republican on the House Financial Services Committee, on Thursday defended Fed Chairman Jerome Powell from criticism made earlier in the week by Sen. Elizabeth Warren, the Democrat from Massachusetts. Warren said Powell was a "dangerous man" because he had deregulated the biggest banks over his four-year term and said she would not vote to give him a second term if he were nominated for a second term. McHenry said this criticism was "reckless and unmoored from reality." McHenry said Powell's "decisive action" prevented the worst of the coronavirus pandemic crisis.
6:51 a.m. Sept. 28, 2021 - By Greg Robb
Powell: Some bottlenecks sparking inflation have gotten worseFederal Reserve Chairman Jerome Powell said Tuesday that some of the supply-side bottlenecks behind the surge in inflation have "gotten worse." "Look at the car companies, look at the ships with the anchors down outside of Los Angeles. This is really a mismatch between demand and supply, we need those supply blockages to alleviate, to abate, before inflation can come down," Powell said, during a Senate Banking Committee hearing. The Fed projects that inflation will come down and most of the gains in inflation are coming from a very small category of items, Powell added.
5:26 a.m. Sept. 28, 2021 - By Greg Robb
Congress must raise or suspend debt limit by Oct. 18, Yellen saysTreasury Secretary Janet Yellen said Tuesday that the Treasury Department is likely to exhaust extraordinary measures to keep from defaulting on its debt if Congress has not acted to raise or suspend the debt limit by Oct. 18. "At that point, we expect Treasury would be left with very limited resources that would be depleted quickly," Yellen said in an update sent to Congressional leaders. Yellen had earlier estimated that the extraordinary measures would last until mid-October. On Monday, Senate Republicans blocked legislation that would have suspended the debt limit.
12:13 p.m. Sept. 27, 2021 - By Victor Reklaitis
Dallas Fed's Kaplan, under scrutiny for 2020 trading activity, to retire Oct. 8The Dallas Federal Reserve announced Monday that its president, Rob Kaplan, will retire from the regional bank on Oct. 8. The departure comes after Kaplan and Boston Fed President Eric Rosengren of individual securities. that "the recent focus on my financial disclosure risks becoming a distraction" to the U.S. central bank's work. earlier Monday that he will retire on Thursday.
4:47 a.m. Sept. 27, 2021 - By Greg Robb
Fed's Rosengren, under scrutiny for 2020 trading activity, to retire on Sept. 30Boston Fed President Eric Rosengren announced Monday he will retire on Sept 30. In a statement, Rosengren said he moved up his long-planned retirement by nine months because of health concerns. Rosengren would have had to retire next June under Fed rules. Rosengren has been criticized for actively trading in real-estate investment trusts in 2020 while the Fed was taking extraordinary steps to keep financial markets stable during the pandemic. Reformers, like the group Better Markets, had called for Rosengren to resign.
6:03 a.m. Sept. 24, 2021 - By Jacob Passy
New home sales jump in August despite record pricesU.S. new-home sales increased 1.5% to an annual rate of 740,000, the government said Friday. The figure equates to how many homes would be sold over a yearlong period of time if the same number were bought in each month based on the rate of sales in July. Compared to a year ago, sales were down 24%.The median forecast of economists polled by MarketWatch was that new home sales would come in at an annual rate of 720,000 for August. The median sales price of new houses sold in August was $390,900, rising slightly from the previous month to reach a new record high.
4:37 a.m. Sept. 21, 2021 - By Jacob Passy
New-home construction improves in August, driven by increase in multifamily buildingU.S. home builders started construction on homes at a seasonally-adjusted annual rate of 1.62 million in August, representing a 3.9% increase from the previous month, the U.S. Census Bureau reported Tuesday. Compared with August 2020, housing starts were up 17.4%. The pace of permitting for new housing units also increased in August. Permitting for new homes occurred at a seasonally-adjusted annual rate of 1.73 million, up 6% from July and 13.5% from a year ago. With both housing starts and building permits, the gains recorded in August were driven by an uptick in multifamily construction activity. Economists polled by MarketWatch had expected housing starts to occur at a pace of 1.55 million and building permits to come in at a pace of 1.62 million.
9:42 a.m. Sept. 16, 2021 - By Tomi Kilgore
American Express stock rises to pace the Dow's gainers after BofA backs away from bearish stanceShares of American Express Co. rose 0.8% in afternoon trading Thursday, enough to pace the Dow Jones Industrial Average gainers, after BofA Securities analyst Mihir Bhatia backed away from from his bearish view on the charge card and travel-related services company, citing a now "balanced" risk-reward profile. The stock has lost 4.6% since the end of July, while the SPDR Financial Select Sector ETF has gained 3.4% and the S&P 500 has tacked on 1.4%. Bhatia attributed the stock's recent underperformance to fears that the recent spike in COVID-19 cases would slow the economic recovery and hurt AmEx's billings. "However, at a conference appearance this week, [AmEX] noted that [quarter-to-date] total billings are up 3% vs. 2019 levels (an acceleration from -2% in 2Q)," Bhatia wrote in a research note. "This was better than feared." He added that while a slower recovery and higher corporate taxes are remain near-term risks, the company is likely to also benefit from increased travel spending, particularly by large businesses, in 2022.
1:51 a.m. Sept. 9, 2021 - By Steve Goldstein
Atlanta Fed's Bostic tells WSJ taper decision unlikely to come this monthAtlanta Fed President Raphael Bostic that it's not likely the central bank will announce a decision to taper at its meeting this month. "The weaker data that we've seen more recently suggests to me that maybe there's a chance for some play on this, but I still think that sometime this year is going to be appropriate," he said. "I wouldn't lean in too heavily to expecting anything on taper at the next meeting," he added.
10:07 a.m. Sept. 8, 2021 - By Jacob Passy
Fed's Beige Book says economic growth dropped to 'a moderate pace'Economic growth slowed to a moderate pace in early July through August, according to the latest edition of the Federal Reserve's Beige Book that was released Wednesday. The central bank noted that safety concerns tied to the delta variant of COVID-19 prompted a pullback in dining out and travel, which weigh on the greater economy. Supply shortages, including limited inventories of automobiles and homes for sales, also contributed to the economy's retreat from its stronger pace of growth earlier this year. At the same time, businesses reported to the Fed that they were finding it easier to pass cost increases along to consumers via higher prices. The central bank noted that inflation was "steady at an elevated pace."
10:36 a.m. Aug. 27, 2021 - By Greg Robb
Fed's Clarida, echoing Powell, backs start of taper this yearThe number two official at the Federal Reserve on Friday backed the start of a taper of bond purchases later this year, in comments that largely echoed Fed Chairman Jerome Powell's Jackson Hole speech. In an interview with CNBC, Fed Vice Chairman Richard Clarida said he expects the trend of "robust" job gains seen this summer to continue and "if that happens I would also support commencing reduction in the pace of our purchases later this year." The economy has added an average of over 800,000 per month over the last three months. Clarida said it wouldn't take the strong pace of 800,000 jobs per month for the Fed to reach its benchmark for tapering of "substantial" progress in the labor markets. "I don't think it takes 800,000 per month, but robust gains," Clarida said.
10:35 a.m. Aug. 27, 2021 - By Greg Robb
Fed's Mester says exactly what month taper starts is not a big deal Cleveland Fed President Loretta Mester said Friday that the exact month of 2021 that the Fed starts to taper its bond purchases is of little consequence for the economy. "Whether it is September [announcement] to start in November or November to start in December, I don't think that is going to make a material difference to the economy," Mester said, in an interview on Bloomberg Television. Fed officials are "all sort of in the ballpark" of tapering some time this year with the view of completing the process in the middle of next year, Mester said. "The bottom line is that we've met the criteria we put out or we're very close to it," Mester said. In the wake of Fed Chairman Jerome Powell's speech in Jackson Hole, market participants and economists have begun to debate whether the Fed would lay out its strategy in September or November. Mester, who earlier Friday said she would be comfortable with a September announcement, said Fed officials will use its next meeting on Sept. 21-22 to "lay out some of our own thinking about the pace and the timing." Officials will continue to watch the downside risk from the coronavirus delta variant, she added. Mester will be a voting member of the Fed's interest rate committee next year.
4:46 a.m. Aug. 27, 2021 - By Greg Robb
Fed's Harker backs starting taper 'sooner rather than later'Philadelphia Fed President Patrick Harker said he wanted to move toward tapering asset purchases "sooner rather than later." In an interview with CNBC, Harker said that he didn't think the $120 billion per month of asset purchases were "doing a whole lot right now." The economy is being held back by supply issues that lower interest rates can't solve, he said. Harker said he was still supportive of "moving the taper along" despite potential damage to the economy from the coronavirus delta variant. The Philadelphia Fed president said the rapid acceleration in inflation seen this year "may not be so transitory." Contacts in his district have said supply chain disruptions facing the home-building sector "won't be solved anytime soon," he said. Harker won't be a voting member of the Fed's interest-rate committee until 2023.
4:11 a.m. Aug. 27, 2021 - By Greg Robb
Fed's Bostic says job data 'in coming months' will decide when to start taperingThe U.S. economy is "very close" to the substantial progress benchmark needed to start tapering its asset purchases but "a lot depends on what happens in the next couple of months," said Atlanta Fed President Raphael Bostic on Friday. In an interview on CNBC, Bostic said he was focused on conditions in the labor market. If job gains continue at the pace seen earlier in the summer, then that will satisfy the conditions for making substantial progress, he said. This suggests Bostic may want to wait until the November meeting to announce the slowing down of purchases. More hawkish Fed officials are pressing for a September announcement. Once the tapering program started, Bostic said he wanted to reduce the purchases "as quickly as possible." The Fed is buying $120 billion per month of Treasurys and mortgage-backed securities to hold down long-term interest rates. Bostic said he didn't think the tapering would upset financial markets. Fed Chairman Jerome Powell will speak about the economy at 10 a.m. Eastern.
7:06 a.m. Aug. 26, 2021 - By Greg Robb
Dallas Fed's Kaplan, seeing 'resiliency' in face of delta, sticks with call for September taper announcementDallas Fed President Rob Kaplan on Thursday said he will press his colleagues to agree to announce a plan to start "tapering" or slowing down asset purchases in September, and to then launch the program in October or November. Kaplan had made headlines last week when he said the spread of the coronavirus delta variant might cause him to rethink this aggressive timetable. In an interview with CNBC, Kaplan said he has reviewed the latest data and wants to go ahead with his initial plan for the September taper announcement because Americans are adjusting to the delta variant. "What we're seeing is consumers and businesses are just becoming more adaptable," Kaplan said. "We're seeing resiliency." Stocks were lower on Thursday with the Dow Jones Industrial Average [s:DJIA] down almost 100 points in late morning trading.
6:05 a.m. Aug. 23, 2021 - By Jacob Passy
Existing-home sales jump 2% in July as inventory of properties for sale growsExisting-home sales rose 2% in July from the month prior, the National Association of Realtors . Sales occurred at a seasonally-adjusted annual rate of 5.99 million. Compared to July 2020, sales were up 1.5%. The total inventory of homes for sales rose 7.3% on a monthly basis, though it's still down significantly from a year ago.
1:20 p.m. Aug. 20, 2021 - By Mark Decambre
Fed regional bank shifts Jackson Hole symposium to virtual event: reports The highly anticipated Jackson Hole gathering of monetary policy makers will be held entirely remote, according to reports. reported that the Federal Reserve Bank of Kansas City said the annual symposium in Jackson Hole, Wyo., which was scheduled to be held in-person on Aug. 26-28, will be held virtually, as the delta variant of COVID-19 intensifies.
1:50 a.m. Aug. 19, 2021 - By Steve Goldstein
Economists at Goldman Sachs lower their forecasts, citing delta variantEconomists at Goldman Sachs lowered their third-quarter U.S. growth forecast to 5.5% from 9%, though they raised their expectations for the next fourth quarters. "The impact of the delta variant on growth and inflation is proving to be somewhat larger than we expected," said the economists led by David Mericle. Their revised forecast implies 2021 growth of 6% on a full-year basis, vs. 6.4% previously, and 2022 growth of 4.5% vs. 4.4% previously.
9:30 a.m. Aug. 11, 2021 - By Greg Robb
Fed's Kaplan says central bank should announce taper plans in SeptemberDallas Fed President Rob Kaplan said Wednesday that he will press his colleagues at the central bank to announce a plan to taper bond purchases at its next meeting in late September. In an interview on CNBC, Kaplan said he wanted the slow down in purchases to start in October and last until June. Kaplan has been pressing his colleagues to start to pull back on its $120 billion in monthly bond and mortgage-related securities since late April. Asked if he had a lot of support from his colleagues for his position, Kaplan said there was a "range of views" but the committee is in a much better place than it was two months. Kaplan said the asset purchases don't help the economy now because the trouble is with the supply of goods and workers. Asset purchases work best to spur demand, he said. Kaplan ducked questions about whether his timetable meant that the Fed will raise interest rates as soon as next year. He said he was "divorcing" his views on tapering from his decisions on when to hike rates.
7:09 a.m. July 21, 2021 - By Robert Schroeder
McConnell comments on Democrats raising debt limit alone 'shameless,' Schumer saysSenate Majority Leader Chuck Schumer on Wednesday said comments by Republican Leader Mitch McConnell about Democrats raising the debt limit on their own were "shameless, cynical and totally political." Kentucky Sen. McConnell he "can't imagine there will be a single Republican voting to raise the debt ceiling after what we've been experiencing," and suggested Democrats would need to put a suspension or increase in an upcoming bill the party plans to pass on its own. On Tuesday, the White House said President Joe Biden . The borrowing limit is suspended through July 31, and Treasury Secretary Janet Yellen has warned that so-called extraordinary measures her department uses to keep paying obligations may not last long past the end of July.
1:46 a.m. July 13, 2021 - By Steve Goldstein
St. Louis Fed President Bullard says time is right for a Fed taperingThe president of the St. Louis Fed said the Federal Reserve should start reducing the stimulus it provides to the U.S. economy, though he added the reduction did not need to start immediately. "I think with the economy growing at 7% and the pandemic coming under better and better control, I think the time is right to pull back emergency measures," . "I am a little bit concerned that we're feeding into an incipient housing bubble," he said, though he didn't explicitly call for a reduction in mortgage-backed securities purchases. New York Fed President John Williams defended the Fed's asset purchasing, and MBS buying in particular, on Monday. U.S. stock futures continued to point to a steady start after the Bullard interview.
8:25 a.m. July 6, 2021 - By Tomi Kilgore
American Express stock paces the Dow's winners after Goldman analyst turns bullishShares of American Express Co. rose 0.7% toward a record close in midday trading Tuesday, after Goldman Sachs analyst Ryan Nash turned bullish on the financial and travel services company, citing expectations of a "big pickup" in consumer spending. The stock was the biggest advancer among the three of 30 Dow Jones Industrial Average members gaining ground. Goldman's Nash upgraded AmEx to buy from neutral, as his $225 stock price target implied a near-33% gain from current levels. While AmEx (AXP) has laid out expectations to reach its original goals for 2020 in 2022, with the economy improving meaningfully and "a big pick-up in consumer spending" since AXP gave this guidance in January 2021, he believes the company is poised to exceed its original 2020 expectations of earnings per share of $8.85 to $9.25 by 2022, given accelerating consumer spending, improving small and medium business spending and benign credit. "In fact, we believe AXP has the potential to see ~$10.00 in EPS in 2022 and double-digit growth beyond then as the multi-year recovery in [travel and entertainment] as well as robust growth in goods and services makes up for 'lost ground' in 2020," Nash wrote in a note to clients. The stock's gain comes as the SPDR Financial Select Sector ETF slumped 1.7% in midday trading and the Dow dropped 367 points, or 1.1%. The stock last closed at a record of $169.45 on June 25.
10:20 a.m. July 1, 2021 - By Robert Schroeder
U.S. budget deficit will hit $3 trillion this year, CBO projects The federal budget deficit for fiscal year 2021 will be $3 trillion, the nonpartisan Congressional Budget Office Thursday. That's nearly $130 billion less than last year's shortfall but triple the deficit recorded in 2019, as Washington responds to the coronavirus pandemic. The CBO said this year's deficit would total 13.4% of GDP, making it the second-largest since 1945 and exceeded only by last year's shortfall. Separately, the CBO said GDP would increase by 7.4% by the end of 2021, as the pandemic eases and demand for consumer services surges.
11:47 a.m. June 23, 2021 - By Robert Schroeder
Yellen says extraordinary measures to avoid default could run out in August Treasury Secretary Janet Yellen on Wednesday urged Congress to raise or suspend the U.S. debt limit, saying failure to do so would have "catastrophic" consequences for the U.S. economy. Speaking at a Senate hearing on the Treasury's budget, Yellen said she would plead with Congress to raise the limit "as soon as possible." A suspension of the debt limit expires after July 31. The Treasury would after that have to take so-called extraordinary measures to prevent the U.S. from defaulting, and Yellen told lawmakers that the point of default could come in August. Yellen earlier this year said her department was concerned that such measures would last .
8:00 a.m. June 16, 2021 - By MarketWatch
What are the Dow, S&P 500, and Nasdaq? | How to Invest: Ep. 4The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite are indexes that measure the performance of the stock market. Here's how each is used and what insights they provide for investors.
4:37 a.m. May 18, 2021 - By Jacob Passy
Housing starts fall as builders contend with shortage of materials and laborU.S. home builders started construction on homes at a seasonally-adjusted annual rate of 1.57 million in April, representing a 9.5% decrease from the previous month's downwardly-revised figure, the U.S. Census Bureau . Compared with April 2020 though, housing starts were up 67%, though the year-over-year comparison is skewed somewhat by the effects of the COVID-19 pandemic's onset a year ago. The pace of permitting for new housing units increased again in March. Permitting for new homes occurred at a seasonally-adjusted annual rate of 1.76 million, up 0.3% from March and 61% from a year ago. Economists polled by MarketWatch had expected housing starts to occur at a pace of 1.70 million and building permits to come in at a pace of 1.77 million.
5:14 a.m. May 7, 2021 - By Tomi Kilgore
J.P. Morgan, Goldman Sachs stocks lead Dow losers as yields fall after disappointing jobs data Bank stocks took a dive in premarket trading Friday, as Treasury yields sank in the wake of disappointing government jobs data. J.P. Morgan Chase & Co.'s stock fell 1.6% to pace the Dow Jones Industrial Average's early decliners, followed by the 1.4% drop in Goldman Sachs Group Inc.'s stock . The implied price declines of those two stocks would shave about 50 points off the Dow's price, while Dow futures declined 16 points, or 0.1%. Elsewhere, shares of Bank of America Corp. were down 1.7%, Citigroup Inc. shed 1.4% and Wells Fargo & Co. gave up 1.3%, while the SPDR Financial Select Sector ETF was down 1.1%. The yield on the 10-year Treasury note dropped 4.7 basis points to a 2-month low of 1.515%, after the and the unemployment rate surprisingly rose. Lower longer-term interest rates can hurt bank profits, as it narrows the spread they can earn on longer-term assets, like loans, that are funded with shorter-term liabilities.
12:20 p.m. May 5, 2021 - By Greg Robb
Fed Vice Chairman Clarida says it is not time yet to talk about taperingFederal Reserve Vice Chairman Richard Clarida on Wednesday said it was not time yet to begin conversations about possibly scaling back the central bank's asset purchases. The Fed is buying $120 billion per month of Treasurys and mortgage-related securities as well as keeping interest rates close to zero in order to stimulate the economy. The Fed has said it wants to see "substantial further progress" on its goals of full employment and stable inflation before tapering. Asked when the Fed should start "talking about talking about" tapering, Clarida replied: "We don't think so right now." Dallas Fed President Robert Kaplan said earlier this week it was time to start the discussion about tapering. Several Fed officials speaking on Wednesday have all disagreed with Kaplan. "We'll get more data -and as we move through the year- we will be able to make a judgement on 'substantial further progress,' but we're not there yet," Clarida said.
5:30 a.m. May 5, 2021 - By Greg Robb
Fed's Evans says chances of persistently higher inflation are 'remote'The chances that the $2.8 trillion stimulus measures passed by Congress since December will overheat the economy and generate higher inflation are remote, said Chicago Fed President Charles Evans on Wednesday. Inflation is likely to pick up in coming months as people resume normal activities and some bottlenecks emerge but simulations performed by economists at the Chicago Fed see inflation topping out at less than a full percentage point and dissipating in two or three years, Evans said in a speech to the Levy Economics Institute of Bard College. "We still have some ways to go before we meet our goals" of full employment and stable 2% average inflation, Evans said. As a result, Fed policy "is likely on hold for some time," he added. Labor market conditions required to move interest rates off zero or to start to taper the $120 billion in monthly asset purchases "will not be met for a while," he said.
10:31 a.m. April 27, 2021 - By Tomi Kilgore
3M stock drops despite earnings beat, as cost inflation seen taking a bigger bite out of profitsShares of 3M Co. sank 2.4% in afternoon trading, enough to pace the Dow Jones Industrial Average's decliners, even as the consumer, health care and industrial products company . The stock's $4.81 price decline was shaving about 32 points off the Dow's price, while the Dow was up 7 points, or less than 0.1%. Investors may be concerned about 3M's comments regarding the expected negative impact that will have on earnings this year. In the first quarter, Chief Financial Officer Monish Patolawala said 3M experienced increasing costs, particularly for raw materials and logistics, due primarily to the stronger demand, the ongoing COVID-19 pandemic and Winter Storm Uri. "In our view, we expect global supply chain dynamics to remain fluid and for raw material and logistics headwinds to persist," Patolawala said, according to a FactSet transcript of the post-earnings conference call with analysts. "Therefore, we now anticipate a full-year raw materials and logistics headwind of 30 cents-to-50 cents per share versus a prior expectation of flat to a 10-cent headwind at the start of the year."
6:08 a.m. April 23, 2021 - By Jacob Passy
New home sales soar to highest level since 2006New home sales occurred at a seasonally-adjusted annual rate of 1.021 million in March, the U.S. Census Bureau . It represented the fastest pace of new home sales since 2006. Month-over-month, sales rose 20.7%. Additionally, the Census Bureau revised the sales figure for February up to a rate of 846,000, from the originally reported rate of 775,000. The inventory of homes for sale at the end of March remained unchanged from the month prior, but was down 7% from a year ago.
6:07 a.m. April 22, 2021 - By Jacob Passy
Existing-home sales fall for second consecutive month as house prices surge to record levelsExisting-home sales declined in March, reflecting the challenges buyers continue to face in the competitive real-estate market. Existing home-sales fell 3.7% to a seasonally-adjusted, annual rate of 6.01 million in March, the National Association of Realtors . Compared with a year ago, home sales were up more than 12%. Home prices hit a high of $329,100, reflecting a record pace of price growth at 17.2% from last year.
6:21 a.m. April 12, 2021 - Barrons.com
A Word of WarningSonal Desai, Franklin Templeton Fixed Income's CIO, shares her concerns stemming from inflation, spending and debt. Plus, Joe Moglia, former chairman & CEO of TD Ameritrade, discusses the potential pitfalls within 2021's SPAC boom.
9:57 a.m. April 9, 2021 - By Quentin Fottrell
My cautionary tale — after an $11 mistake on my 2020 tax return my $11,000 refund and stimulus is now in limbo ‘Because of my mistake, I’m still waiting for our $5,400 refund, and our $5,600 stimulus payment’‘Because of my mistake, I’m still waiting for our $5,400 refund, and our $5,600 stimulus payment.’
8:26 a.m. April 9, 2021 - By Michael Ashbaugh
Charting a Farewell Focus: 10-year yield asserts the range, Semiconductor sector presses record highs, TNX, SMH, KLAC, ROST, FOUR, ZENThis is the final edition of The Technical Indicator on MarketWatch. As its founder, and continuous editor since 2003, it has been a blast publishing for engaged and knowledgable readers for nearly 18 years.
Browse topics:

Filter results by

Industry

Financial Services (1188)

Banks (300)

Software (285)

Manufacturing (229)

Health-care (219)

Internet (215)

Location

Us (2067)

Asia Pacific (350)

Europe (315)

Eu (295)

China (171)

Japan (129)

Issue

Markets/exchanges (789)

General (508)

Commodities (422)

Economy (234)

Personal Finance (166)

Earnings (158)

Link to MarketWatch's Slice.