S&P 500 hits first intraday record since May as Fed abandons ‘patience’

U.S. stock indexes Thursday extended gains to a fourth straight day, testing fresh records after the Federal Reserve signaled that policy easing may be forthcoming to sustain the economy. The Dow Jones Industrial Average DJIA, +0.79%rose 232 points, or 0.9%, at 27,735, marking its highest trading level since Oct.3. The S&P 500 index SPX, +0.77% gained 27 points, or 0.9%, […]

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Home Depot shares edge higher after better-than-expected profit, revenue

Shares of Home Depot HD, -0.85% on Tuesday traded slightly higher in premarket trade after the home-improvement retailer reporter fiscal first-quarter earnings that were better than expected in profit and revenue. Net income for the quarter were $2.5 billion, or $2.27 a share, from $2.4 billion, or $2.08 a diluted share, in the same period a year ago. The FactSet […]

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A win for Trump in 2020 would be a win for stocks, says Nobel-winning economist

From gilded penthouses and fancy cars to big yachts and oversized Brioni suits, Donald Trump’s penchant for spending is the stuff of legends. While such in-your-face wealth rubs many the wrong way, Yale professor and Nobel-winning economist Robert Shiller says Trump’s lavish ways could be a good thing for investors should the president win a second term. Well, if that […]

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Why we’ll be asking what caused the ‘sell everything’ recession of 2019-2021

That pretty much sums up the gloomy view that Charles Hugh Smith of the Of Two Minds blog has been espousing for a while now. In his latest missive, Smith dons his forward-looking goggles to explain why the U.S. economy, while strong by many measures, is nevertheless careening toward a “sell everything” recessio. in the coming years. “Oil costs are […]

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Real risk that the economy grows slower than expected this year, says Fed’s Kaplan

Headwinds from fundamental economic factors like the aging population may mean that the economy may grow more slowly than expected this year, Dallas Fed President Robert Kaplan said Friday. In an interview on the Fox Business Network, Kaplan said he expected gross domestic product to expand at a 2% annual rate this year. But underlying factors like an aging workforce, […]

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Capital flows are turning against the dollar, says Oxford Economics

Capital flows have been supportive of the U.S. dollar but this trend might just be ready to turn, challenging already stretched dollar bulls, said Gaurav Saroliya, director of macro strategy at Oxford Economics. The dollar has been pushed to fundamentally expensive levels, but “the U.S. basic balance — the combined current account, net foreign direct investments and net portfolio flows […]

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Eisman of ‘The Big Short’ fame says he’s shorting U.K. banks because nobody has ‘any idea’ about ‘economic impact of Brexit’

Investor Steve Eisman said he’s betting against U.K. banks amid a testy Brexit negotiation. The prominent hedge-fund manager and investor who garnered prominence on Wall Street for his bets against dicey mortgage products engineered by some of the world’s biggest banks, says uncertainty about the outcome surrounding Britain’s planned divorce from the European Union is underpinning his recent bearish bank […]

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Treasury Department’s odd attempt to reassure investors may have just backfired

The U.S. Treasury Department raised eyebrows and jogged worrying memories of the financial crisis Sunday with a statement that Secretary Steve Mnuchin convened calls with the CEOs of six leading banks to confirm they had ample liquidity, in hopes of averting another Wall Street selloff Monday. But left unsaid: If he’s that worried, shouldn’t investors be as well? The unusual […]

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Stocks could rally 20% after this bruising rout, says Guggenheim’s Minerd — after that, watch out

Scott Minerd of Guggenheim Partners has some good news — and some bad news — for stock-market investors. First, the good news: If investors are smarting from a bludgeoning that has racked up withering weekly losses for the Dow Jones Industrial AverageDJIA, -1.19% , the S&P 500SPX, -1.73%and the Nasdaq Composite IndexCOMP, -2.06% , they can look forward to rosier […]

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