The Fed has a problem in that it says one thing, and the markets want to hear another. “The bottom line is the markets just aren’t buying what the Fed is selling,” said Diane Swonk, chief economist at KPMG. “That ups the ante on the Fed to go further and be more hawkish.” Stocks were … Read more
Morgan Stanley Chief U.S. Equity Strategist Mike Wilson, who accurately called this year′s sell-off, said the market has now “run out of steam” and reiterated his bearish bet on the S & P 500 . Wilson, a prominent market bear in 2022, expects the U.S. large-cap index to fall to the 3,000-3,300 level by the first quarter … Read more
Sheets of copper cathode are pictured at BHP Billiton’s Escondida, the world’s biggest copper mine, in Antofagasta, northern Chile March 31, 2008. Ivan Alvarado | Reuters Copper — traditionally seen as a leading indicator of economic health — has unsurprisingly had a rough year. But analysts expect a resurgence in 2023, even as the global … Read more
Bank of America says investors face a “huge risk” of being too defensive at the trough of a cycle and advises reducing the size of such positions. The bank noted that stocks with “expensive negative momentum” — which it dubbed “the defenders” — outperformed in November on the back of a less aggressive U.S. Federal … Read more
GMC vehicles sit on display at the Sterling McCall Buick GMC dealership on February 02, 2022 in Houston, Texas. Brandon Bell | Getty Images DETROIT – General Motors may be transitioning to an all-electric future, but its recent vehicle fleet ranked among the least efficient and most polluting in the U.S. automotive industry, according to … Read more
Gas prices are displayed at an Exxon gas station on July 29, 2022 in Houston, Texas. Exxon and Chevron posted record high earnings during the second quarter of 2022 as energy stocks have faltered in recent months. Brandon Bell | Getty Images A pair of Democratic lawmakers on Friday accused the largest oil companies in … Read more
And just like that, with the passing of Labor Day, fall was upon us. Seemingly overnight, six-packs of pumpkin beer materialized on grocery shelves, hordes of city dwellers descended upon apple orchards—and America rolled out new COVID boosters. The timing wasn’t a coincidence. Since the beginning of the pandemic, cases in North America and Europe … Read more
For the first couple of years of the coronavirus pandemic, the crisis was marked by a succession of variants that pummeled us one at a time. The original virus rapidly gave way to D614G, before ceding the stage to Alpha, Delta, Omicron, and then Omicron’s many offshoots. But as our next COVID winter looms, it … Read more
This weekend, I’ll be waking up to one of my favorite days of the year: a government-sanctioned 25-hour Sunday. Forget birthdays, forget my anniversary; heck, forget the magic of Christmas. On Sunday, I’ll get to do a bit of time traveling as most of the United States transitions out of daylight saving time back into … Read more
In 2020, and again in 2021, the dreaded twindemic never came. The worry among experts was that a winter COVID surge layered on top of flu season—or even, in worst-case scenarios, a flu outbreak of pandemic proportions—would push already strained hospitals to the brink. Thankfully, we got lucky. Flu season simply didn’t materialize in 2020: … Read more