The S&P 500, the Nasdaq and the Dow Jones extend gains between 4 and 5% in the week. UoM Consumer Sentiment slumped and inflation expectations were lowered, which was seen as relief by traders. The Fed’s Bullard said fears of a recession are overblown. US equities is up for the second day in a row […]
Tag: United States
The S&P 500 opens with gains and recovers 3,770 on Powell’s second day in Congress
US stock indices recover some ground after recording minimal losses on Wednesday. S&P Global PMIs disappointed expectations, dragging stocks lower. The Nasdaq Composite leads the declines, followed by the S&P 500 and the Dow Jones. USD recovers some ground, although US Treasury yields fall as traders back down on hawkish Fed. US stocks opened higher […]
US: Existing home sales fall 3.4% in May vs. 0.2% expected
US existing home sales fell more than expected in May. US Dollar Index remains above 104.00 after the data. Existing home sales in the United States they decreased 3.4% to a seasonally adjusted annual rate of 5.41 million in May, according to data released by the National Association of Realtors (NAR) on Tuesday. This reading […]
US: Department of Energy has requested to meet with refiners about prices before June 21
The The US Department of Energy has requested to meet with the refiners to discuss prices no later than June 21.reports Reuters citing sources with knowledge of the matter. The sources also reported that the US Secretary of Energy has requested a meeting with refining executives on gas prices no later than June 21. This […]
President Biden Asks Secretary of Energy to Hold Emergency Meeting on Oil Refining Capacity
US President Joe Biden on Wednesday asked the Secretary of Energy to hold an emergency meeting on oil refining capacity. Biden, in a letter, demanded that oil companies explain why they are not putting more gasoline on the market, strongly escalating their rhetoric against the industry. Key comments “In times of war, it is not […]
S&P 500 could fall to 3,150 points if there is a recession – Goldman Sachs
David Kostin, an equity strategist at Goldman Sachs, outlines various scenarios for the S&P 500 Index, and predicts that it will continue to fall to 3,150 points. Key comments “Base-case forecast valuation is expected to remain roughly flat as earnings growth takes the strain and pushes the S&P back to 4,300 by the end of […]
University of Michigan Consumer Sentiment Index falls to 50.2 in June vs. 58.0 expected
The University of Michigan Consumer Sentiment Index it plunged to 50.2 in June, its worst level since records began in the 1970s, according to the preliminary release of the university’s widely followed monthly consumer survey. The consumer expectations index fell to 50.2, its worst level since records went back to the 1970s, according to the […]
USA: Biden administration seeks to make China tariffs more ‘strategic’ – Janet Yellen
The Administration of President Joe Biden is seeking to “reconfigure” the tariffs imposed on Chinese products under former President Donald Trump to make them more “strategic”US Treasury Secretary Janet Yellen told lawmakers on Capitol Hill on Wednesday. Key comments “This administration inherited a set of 301 tariffs imposed by the Trump administration that I think […]
S&P 500 to sink to 3,400 on negative earnings revisions – Morgan Stanley
Will earnings growth accelerate? Although markets expect an acceleration in earnings growth and a corresponding rise in valuations over the next year, there are risks to this outlook.according to Mike Wilson, chief investment officer and chief US equity strategist at Morgan Stanley. US stocks in the midst of a bear market rally “Valuations are now […]
USA: Joe Biden presents his plan to fight inflation in a WSJ article
In an opinion piece for the Wall Street Journal (WSJ), the US President Joe Biden outlined a three-part plan to fight inflation. Featured Comments “I will not meddle with the Fed, but I will address high prices as I guide the economy’s transition to stable and consistent growth.” “Summary of the plan in three parts: […]
