Text size Shipping giant FedEx raised its profit forecast for the fiscal year. Justin Sullivan/Getty Images Stock futures wavered Friday as the biggest banks in the U.S. moved to rescue beleaguered First Republic Bank. These stocks were poised to make moves Friday: First Republic Bank (FRC) was down 4% in premarket trading. The stock closed with … Read more
Text size Prudential Financial increased its quarterly payout by 4% to $1.25 a share. Jason Alden/Bloomberg Prudential Financial, Phillips 66 , Tractor Supply , and Interpublic were among the various large companies that announced dividend increases this week. It continues to be a busy period for such moves as companies report their latest financial results. … Read more
The Federal Reserve should declare an immediate cease fire in its war against inflation and hold its benchmark interest rate steady instead of raising the federal funds by a half percentage point to a range of 4.25% to 4.50%, as expected at its meeting that ends Wednesday. With the relatively benign report on the consumer … Read more
Institutional investors have been clearing out of stocks. They sold $42 billion worth in the five weeks ending Sept. 21. That followed $51 billion in sales during the five weeks ending Sept. 7 — the biggest selling wave this year, says S&P Global Market Intelligence. Bank of America clients favored defensive names over cyclicals last … Read more
It was a September investors will remember — and not in a good way. A Friday drop left the S&P 500 and Dow Jones Industrial Average with their biggest monthly losses since March 2020. And it was the worst September performance for both indexes since 2002. Seasonally inclined investors may wonder what that means for … Read more
One cruel truth the stock market confirmed this past week is that trying to pick the bottom for technology stocks is a fool’s errand. The Nasdaq Composite’s terrible September—it was down 10.5% on the month—has made the bottom-fishing that took place over the summer look ill-advised. As I’ve noted before, the first downturn in tech … Read more
U.S. stock-index futures fell late Sunday, suggesting losses Monday, as the projected victory of a far-right party in Italy added to uncertainties about rising interest rates and recession fears. After falling nearly 200 points earlier in the session, Dow Jones Industrial Average futures YM00, -0.73% were down about 150 points, or 0.5%, around midnight Eastern, … Read more
““I think we’re giving Powell too much praise. … The last two years are one of the biggest policy mistakes in the 110-year history of the Fed by staying so easy when everything was booming.”” — Jeremy Siegel Wharton professor Jeremy Siegel has a bone to pick with Federal Reserve Chair Jerome Powell. The longtime … Read more