US stocks suffer another week of losses, Dow ends lowest since November 2020 as bond yields hammer equities after Fed rate hike

US stocks closed sharply lower Friday, with the Dow Jones Industrial Average ending at its lowest closing value since November 2020. All three major benchmarks suffered another week of losses as bond yields rose in the wake of the Federal Reserve’s interest rate hike on Wednesday. For the week, the Dow dropped 4% while the … Read more

Growling Powell causes Goldman to cut its S&P 500 price target. Again.

During the height of the bull market – which, boy, seems so long ago – the call-option crazy punters inhabiting the Wallstreetbets channel had a favorite meme to explain why stocks would keep going higher. “Money Printer Go Brrr” featured a Rambo-esque Jay Powell, chair of the Federal Reserve, determinedly firing out greenbacks to whoever … Read more

Growling Powell causes Goldman to cut its S&P 500 price target. Again.

During the height of the bull market – which, boy, seems so long ago – the call-option crazy punters inhabiting the Wallstreetbets channel had a favorite meme to explain why stocks would keep going higher. “Money Printer Go Brrr” featured a Rambo-esque Jay Powell, chair of the Federal Reserve, determinedly firing out greenbacks to whoever … Read more

US stocks close down, on track for weekly loss, in wake of Fed rate hike and Powell speech

US stocks ended lower on Thursday after attempting to claw back Wednesday’s losses, as Treasury yields and the dollar climbed further after the Federal Reserve delivered a third jumbo interest-rate hike and signaled more to come. What happened The Dow Jones Industrial Average DJIA finished 107.10 points lower, or 0.4%, to 30,076.68 The S&P 500 … Read more

Mergers Might Be Getting Easier. Here Are the ‘Arb’ Stocks to Watch.

UnitedHealth Group ‘s $13 billion acquisition of health-tech firm Change Healthcare is a go, after a federal judge ruled against the Justice Department’s antitrust challenge to the deal—and there are other merger deals that could get the green light in the months ahead. Change stock (ticker: CHNG) jumped some 7% this past Tuesday and Wednesday, … Read more

‘Moore’s Law’s dead,’ Nvidia CEO Jensen Huang says in justifying gaming-card price hike

Nvidia Corp. Chief Executive Jensen Huang on Wednesday said he thinks it’s going to be “a pretty terrific Q4 for Ada,” the company’s next-generation chip architecture unveiled this week, even as critics balk at a price hike during a softening in consumer demand. Nvidia NVDA expects high demand for gaming chips using its next-generation “Ada … Read more

US stock futures rise ahead of Fed decision

US stock indexes rose on Wednesday, ahead of another expected sharp interest rate rise by the Federal Reserve and after Russian President Vladimir Putin escalated his war against Ukraine. How are stock indices trading The Dow Jones Industrial Average DJIA, +0.57% rose 143 points, or 0.5%, to 30,853 The S&P 500 SPX, +0.58% gained 18 … Read more

Why investors fear a full-percentage-point Fed rate hike would ‘unnerve’ Wall Street

With both US stocks and bonds under pressure on Tuesday, some on Wall Street argue that investors are underestimating the possibility that the Fed might deliver a surprise 100-basis-point interest-rate hike at the close of its two-day policy meeting on Wednesday. . While fed-funds futures traders overwhelmingly anticipate a hike of 75 basis points, or … Read more

There’s only one ‘perfect asset’ to fight all the bad news that could be coming, says this strategist

Ahead of that, stock futures are falling after Ford warned on high supply costs, on the heels of FedEx’s FDX, +1.17% profit caution last week. The dollar and cash have been among the most popular havens for investors as they navigate recession risks with higher rates and higher inflation, alongside a brutal war in Europe. … Read more

Meet the 30-year-old on the verge of selling his company to Adobe for $20B

Almost overnight, this 30-year-old has become the tech world’s newest titan — and is poised to become one of the world’s youngest billionaires. Dylan Field, the co-founder and CEO of San Francisco-based Figma, is on the cusp of an epic windfall after Adobe ADBE, -3.12% announced plans to acquire his company for $20 billion this … Read more