Thursday, March 4

Tag: Dow Jones Industrial Average

Stock

Wall Street stocks retreat, extend volatile run

NEW YORK: Wall Street stocks fell Tuesday, giving back a portion of the gains from the prior session's rally as investors girded for more volatility. The yield on the 10-year US Treasury note continued to decline Tuesday, but investors are grappling with the chance that inflation could rise if President Joe Biden' $1.9 trillion stimulus plan is passed. "The Fed still wants to continue this easy money policy," said JJ Kinahan, chief market strategist at TD Ameritrade, who said many investors fear inflation or view the economy as well on its way to recovery. "The policy makers and the market are having a little bit of a tug of war," Kinahan said. The Dow Jones Industrial Average fell 0.5 percent to 31,391.52. The broad-based S&P 500 dropped 0.8 percent to 3,870.29, while the tech-rich...
Stock

Asian stock markets open lower on inflation fears

MIAMI: Asian equities opened lower on Wednesday on concerns about rising interest rates and rich equity valuations and following a downdraft in U.S. and European overnight trading. The Dow and S&P 500 recouped early losses after Federal Reserve Chair Jerome Powell reiterated in testimony before the Senate Banking Committee that monetary policy would remain accommodative and would not change without advance warning. The tech-heavy Nasdaq index closed down 0.5% as investors sold the big tech stocks that have driven the market rally since last March, and rotated into cyclicals, helping lift the Dow and S&P 500. But Powell's testimony hasn't fully swept away fears of rising inflation as the economies around the world are expected to rebound this year more strongly than was expected ...
Stock

BofA divided as bankers cry foul over special bonus treatment

Anger is building in the senior ranks at Bank of America Corp. after the company waived an unpopular new bonus policy for top traders and dealmakers while keeping the plan in place for other employees. At issue is a grant of company stock that high earners -- generally those making $1 million or more -- received for the first time as part of their 2020 compensation. Instead of vesting in equal parts over a set period, as such awards typically do, these bonuses have a “cliff vest” provision making the shares eligible for sale only at the end of four years. People familiar with the situation described an internal drama unfolding over the past couple of weeks. Initially, the bank planned to apply the new pay structure broadly. But veterans in investment banking and trading revolted upon he...
Stock

Wall Street closes on a mixed note, dollar advances on COVID-19 concerns

NEW YORK: Global stocks lagged and the dollar advanced in volatile markets on Monday, with sentiment hit by increasing COVID-19 cases, delays in vaccine supplies and uncertainty over a $1.9 trillion U.S. stimulus plan. Equity markets have scaled record highs in recent days on bets vaccines will start to reduce infection rates worldwide and on a stronger U.S. economic recovery under President Joe Biden. However, investors are wary about towering valuations amid questions over the efficacy of the vaccines in curbing the pandemic and as U.S. lawmakers continue to debate a coronavirus aid package. "The risk for these markets is that, after a bumper couple of months, investors may start to wonder whether they're looking a little frothy," said Craig Erlam, senior market analyst at OANDA Europ...
Stock

Time to pause? US market grows wary of some stock bubbles

LONDON: Wall Street is abuzz about stock market bubbles as surges in the share prices of some loss-making firms, red-hot public markets and amateur investors chasing stocks at frothy valuations spark fears of a pullback. A flood of money supply, ultra-low or zero interest rates and COVID-19 vaccine rollouts have sparked a 'buy everything' rally, helping world stocks add a whopping $33 trillion in value from their lows of last March. The euphoria is evident in the small cap Russell 2000 index where its component companies with a negative operating profit outperformed the wider index by nearly 50 percentage points over the last year, a Reuters analysis of Refinitiv data showed. "Pockets of the market have recently demonstrated investor behavior consistent with bubble-like sentiment," Gold...
Markets

Australia shares fall most in 5 weeks on Trump’s China tariff threat

Australian shares fell 5% on Friday, their most in five weeks, as risk sentiment was battered by threats of new tariffs from US President Donald Trump against China and a slew of bleak data out of the world's top economy. Trump made clear his concerns about China's role in the origin and spread of the novel coronavirus were taking priority over efforts to build on an initial trade agreement. Fresh US tariffs could delay a return to normalcy from the virus-driven downturn for China, Australia's biggest trading partner, and thereby, hurt Australia too, said Mathan Somasundaram, market portfolio strategist at Blue Ocean Equities. The S&P/ASX 200 index settled at 5,245.9, posting its fifth weekly gain in six. Data released overnight showed millions more Americans filed claims for unemplo...
Wall Street pulls back as dismal economic data piles higher
World News

Wall Street pulls back as dismal economic data piles higher

By: AP | New York | Published: April 30, 2020 10:21:03 pm The S&P 500 was down 0.7%, as of 11:20 a.m. Eastern time while the Dow Jones Industrial Average was down 242 points, or 1%, at 24,3931 and the Nasdaq was down 0.1%. (AP) Wall Street pulled back on Thursday after more reports made clear the worldwide devastation the coronavirus outbreak is causing for the economy. In the United States, another 3.8 million workers filed for unemployment benefits last week as layoffs continue to hammer the country. In Europe, the region’s economy crumpled by the sharpest degree in at least 25 years. The dour figures helped drive most U.S...
US stocks finish positive amid virus optimism, Dow +1.1%
Stock

US stocks finish positive amid virus optimism, Dow +1.1%

Cautious optimism on Wall Street propelled US stocks to a positive finish on Friday, despite mounting evidence of the coronavirus pandemic's deep damage to the American economy. At the closing bell, the Dow Jones Industrial Average was up 1.1 percent at 23,775.27. The broad-based S&P 500 climbed 1.4 percent to end at 2,836.74, while the tech-rich Nasdaq finished 1.7 percent higher at 8,634.52. if(geolocation && geolocation != 5 && (typeof skip == 'undefined' || typeof skip.fbevents == 'undefined')) { !function(f,b,e,v,n,t,s) {if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)}; if(!f._fbq)f._fbq=n;n...