“ ‘We are likely to see some downward revisions [to earnings] and our forecast for profits growth for 2023 is $200 for the S&P 500. That would mean about a 10% decline in earnings peak to trough.’...
Tag: S&P 500 Index
JPMorgan, Wells Fargo, Bank of America and Citi beat earnings expectations, but worries about headwinds remain
JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. managed to beat Wall Street’s reduced expectations for their fourth-quarter profits as higher interest rates b...
Why the stock market isn’t impressed with the first monthly decline in consumer prices in more than 2 years
Inflation data may no longer be the big catalyst for stocks that it once was. U.S. stocks bounced around to a higher close on Thursday, even though investors received some encouraging inflation news a...
Oramed’s oral insulin pill fails; stock is down 72%
Shares of Oramed Pharmaceuticals Inc. ORMP, -76.56% plunged 72% in premarket trading on Thursday, the day after the company told investors its oral insulin medication did not meet the primary or secon...
Algonquin Power to cut dividend by 40%, provides downbeat profit outlook
Shares of Algonquin Power & Utilities Corp. AQN, -4.26% AQN, -4.67% turned lower to fall 2.2% in premarket trading Thursday, after the utility company said it was taking “decisive actions” to stre...
PPL plans dividend hike, to boost yield to 3.2%
PPL Corp. PPL, +2.09% said Wednesday that it plans to raised it quarterly dividend by 6.7%, to 24 cents a share. Based on Tuesday’s closing price of the electricity generation and transmission company...
Home prices to tumble over 25% from peak levels in ‘overheated’ markets, says Goldman
Credit researchers at Goldman Sachs now expect home prices in several “overheated” metro areas to fall over 25% from peak levels. Metro areas included in their forecast were San Jose, Austin, Phoenix ...
Why Thursday’s U.S. CPI report might kill stock market’s hope of inflation melting away
A mild stock market rally to kick off the new year will be put to the test Thursday when investors face a highly-awaited U.S. inflation reading which could well help determine the size of the Federal ...
Sotera Health to pay $408 million to settlement allegations in Illinois
Shares of Sotera Health Co. SHC, +102.20% soared 57% in premarket trading on Tuesday after the company said it will pay $408 million to settle more than 870 million legal cases in Illinois. Sotera own...
Fed’s Powell won’t stop rate hikes until he ‘terrifies’ the wealthiest of investors, says this CIO
Investors are waking up to a whiff of positivity where stocks are concerned for Monday, after last week’s first gain in five that was prompted by weak wage growth Alongside a bleak Institute for Suppl...
Novavax’s stock rallies after the company names new CEO
Shares of Novavax Inc. NVAX, +11.25% were up about 9% in trading on Monday after the company said John Jacobs will take over as president and CEO on Jan. 23. Jacobs, the former president and CEO of Ha...
The Dow takes ‘important first step’ toward a new bull market
Don’t dis the Dow Jones Industrial Average just because it’s made up of only 30 stocks, because if the stock market bounces back from last year’s selloff, it’ll be the Dow that leads it. With the Dow ...
Why a stock market obsessed with the Fed’s inflation fight should focus on Main Street jobs in 2023
Fortunes on Wall Street this year could hinge less on what’s happening to high-paid workers in San Francisco’s reeling technology sector and more on a familiar part of American life: the working class...
Dow surges 700 points Friday, S&P 500 snaps four-week losing streak after employment report shows wage gains cooled in December
U.S. stocks ended sharply higher Friday, with the Dow jumping 700 points, after an employment report showed wage gains slowed in December. The report fueled hopes that the Federal Reserve’s interest r...
Here are potential impacts of China’s reopening on markets, Goldman Sachs says
China, the world’s second-largest economy behind the U.S., is set to reopen in just a few days and one major Wall Street firm has boiled down the likely impact on financial markets. In a note released...
History shows odds favor a 20% stock-market return in 2023 after a brutal 2022, Fundstrat says
Historical data shows there is a high chance that the U.S. stock market may record a return of 20% or more this year after the three major indexes closed 2022 with their worst annual losses since 2008...
6 value stock picks for 2023 from successful money managers
Following a down year for the stock market, there is no shortage of recession predictions for 2023, especially as the Federal Reserve has signaled it will continue to raise interest rates to fight inf...
Treasury yields plummet after signs of broadening weakness in economy
Friday’s raft of U.S. economic data produced a cascading drop in rates across the Treasury market, pushing the policy-sensitive 2-year and benchmark 10-year yields to their lowest levels of the new ye...
Fate Therapeutics stocks heads for record selloff after Janssen collaboration terminated and job cuts
Shares of Fate Therapeutics Inc. FATE, -61.18% plunged 56.8% in premarket trading, putting them on track for a record one-day selloff, after the biopharmaceutical company announced the termination of ...
Tesla stock sinks toward 2 1/2-year low after China price cuts, dragging Nio, XPeng and Li down with it
Shares of Tesla Inc. TSLA, -2.90% took a dive in premarket trading Friday, after the electric vehicle maker cut prices in China again, which also weighed heavily on rival China-based EV makers. Tesla’...
Dow ends down nearly 350 points after jobs data, hawkish Fed comments hammer stocks
U.S. stock indexes ended another choppy session in the red on Thursday as investors digested a fresh batch of labor-market data and hawkish commentary from Federal Reserve officials, while looking ahe...
Fed to stock market: Big rallies will only prolong painful inflation fight
It was a “don’t make me come back there” moment from the Federal Reserve. A line from the minutes of the central bank’s December policy meeting released Wednesday afternoon was taken by analysts and e...
This analyst who forecast a double-digit drop in stocks for 2022 now says Jeff Bezos may return to helm Amazon
If Tuesday was any indication of how the market will behave this year, then buckle up, it looks like it will be a wild one. The Dow Jones Industrial Average DJIA, -0.21% had a 537-point trading range,...
GE Healthcare stock to start trading as separation from GE is completed
The first stage of the break up of General Electric Co. GE, +1.76% has been completed, as GE HealthCare Technologies Inc. GEHC, +4.78% has been officially separated and will begin trading Wednesday as...
Stocks cement worst year since 2008 as S&P 500 logs 4th biggest drop since inception
U.S. stocks polished off their worst year since 2008 with a loss on Friday, bringing the year-to-date decline for the S&P 500 to 19.4%, its largest calendar-year drop since 2008, Dow Jones Market ...
Carvana stock soars to lead NYSE gainers on heavy volume
Shares of Carvana Co. CVNA, +24.43% soared 24.7%, enough to pace the New York Stock Exchange’s gainers, even though the online used-car retailer hasn’t released any news. Trading volume swelled to 33....