Fed plan to buy T-Bills may open door to more stimulus

Investors have interpreted the Federal Reserve’s plan, announced Friday, to soon bolster overnight borrowing through U.S Treasury debt purchases as sending a clear message that the central bank is standing at the ready if markets go haywire. The U.S. central bank said Friday it will purchase $60 billion of short-term Treasury debt each month in an effort to ward off […]

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Fed’s Clarida says U.S. economy is fine but global outlook is getting worse

The U.S. economy remains in a good place but the global picture is worsening, the second-highest-ranking official at the central bank said Friday. Fed Vice Chairman Richard Clarida defended the central bank’s decision to cut its benchmark rate by a quarter percentage point on Wednesday this week. Fed officials were divided over the economic outlook at that meeting. Three officials […]

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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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