Economists agree that it is much too soon to assess the real consequences of the coronavirus shock on global growth. But it is already clear that it comes at the worst possible time for the European economy. At the very least, the disruption that the spread of the virus mayRead More →
U.S. Treasury yields traded higher on Tuesday as reports that the spread of COVID-19 may be slowing down helped to cheapen prices for government paper, drawing investors to the Treasury Department debt auction in the afternoon. Federal Reserve Chairman Jerome Powell testified in front of the House Financial Services Committee,Read More →
Mortgage rates are resting near record lows — and that’s spurring a wave of refinancing activity as Americans look to take advantage of the savings a cheaper interest rate could bring. Refinance loan volume jumped to the highest level since 2013 last week, especially among jumbo mortgage borrowers, on theRead More →
The U.S. central bank should keep its benchmark interest rate unchanged for the time being, as growth is in a good place and inflation should hit the central bank’s 2% annual target, two Federal Reserve officials said Monday. “My own view right now is that we should hold steady forRead More →
Stock-index futures struggled for direction Monday as investors monitored developments around the spread of the coronavirus and as earnings season moves into its final stage. What are major indexes doing? Futures on the Dow Jones Industrial Average YMH20, -0.19% fell 60 points, or 0.2%, to 28,984, while S&P 500 futuresRead More →
Investors made crystal clear this past week that they aren’t ready to abandon the “buy-the-dip” response to stock market pullbacks, despite warnings that the tried-and-true approach may soon meet its match. Indeed, one high-profile warning came from Mohamed El-Erian, the chief economic adviser at Allianz and former chief executive atRead More →
TGIF, MarketWatchers. Don’t miss these top stories: Personal Finance ‘There’s an oiliness in it that stays in your mouth’: This café charges $39 for a cup of java made from bird droppings Holy Crapuccino! A $9 Starbucks coffee may never seem quite so expensive again. ‘Sea-level rise won’t affect myRead More →
BEIJING — China is considering possible countermeasures to cushion the blow from the coronavirus outbreak that is expected cause a temporary disruption to the economy, a central bank official said. “The coronavirus outbreak will be temporary and will not change the long-term improvement of China’s economy,” Pan Gongsheng, a viceRead More →
The Federal Reserve could encourage banks to tap a key funding source that has been scarcely used since the financial crisis as a solution to the September dislocations in short-term lending markets, said Fed Vice Chairman for Supervision Randal Quarles on Thursday. Quarles said financial institutions should not be afraidRead More →
Thank China (again) for what looks like another bullish day on Wall Street after Beijing pledged to halve tariffs on $75 billion in U.S. imports, while political uncertainty has eased after the Senate acquitted U.S. President Donald Trump. That is as investors have decided the deadly coronavirus isn’t a reasonRead More →
Joe Raedle/Getty Images President Donald Trump tells supporters in The Villages, Fla., in October 2019 that he’ll always defend Medicare, just days after signing an executive order that opens the door to further privatization. Later this evening, Donald Trump delivers his third State of the Union address. If past speechesRead More →
U.S. Treasury yields fell Thursday, extending their week long drop, as growing concerns about the coronavirus epidemic and the prospect for the World Health Organization to declare it a global emergency kept haven assets in demand. What are Treasurys doing? The 10-year Treasury note yield TMUBMUSD10Y, -0.81% was downRead More →
Chicago Fed President Charles Evans is heavily influencing monetary policy this year — just not in the United States. Futures prices assigned a 57% chance the Bank of England will cut interest rates at its Jan. 30 meeting, according to the CME Group, a move that was considered just aRead More →
U.S. stock futures indicated sharp losses for major indexes on Monday, continuing a drop seen from late last week, as concern grows over the fallout from China’s coronavirus, with the death toll and number of infected climbing dramatically from last week. How are benchmarks performing? Dow Jones Industrial Average futuresRead More →
The Federal Reserve seems on course to disappoint financial markets at some point this year, but maybe not this week. Starting early in 2019, the Fed has consistently moved in a market-friendly direction. The central bank cut rates its benchmark interest rate three time since July and started expanding itsRead More →
One of the House impeachment managers said Sunday she wasn’t sure that the goal of convincing the Senate to subpoena new witnesses in the impeachment trial of President Donald Trump had been achieved this week. Democrats, who hold 47 seats in the Senate, need to convince four Republicans to compelRead More →
A week that started with a coronavirus panic looks set to end on a high note. Earnings optimism and the fact that investors no longer seem to be panicking over the deadly China illness is helping. Wall Street has also been distracted by red-hot Tesla TSLA, +0.46% shares, up 12%Read More →
Getty Images/iStockphoto The U.S. economy is still adding jobs and layoffs remain near a 50-year low. The numbers: The number of Americans who applied for unemployment benefits in mid-January rose slightly, but layoffs remain near a 50-year low and there’s no sign of deterioration in the strongest U.S. labor marketRead More →
Nobody expects any policy changes when European Central Bank big shots meet Thursday, but Christine Lagarde could still drop some worthwhile hints about the path ahead. Indeed, economists at Bank of America contend market participants have largely ignored relatively hawkish minutes from the ECB’s December meeting, which showed worries amongRead More →
U.S. stocks traded mostly lower Tuesday, as investors returned from a holiday and found few reasons to take equities higher following a brisk, record-setting run-up for the major benchmarks in recent weeks. U.S. markets were closed Monday in observance of Martin King Luther Jr. Day. How are benchmarks faring? TheRead More →
Bloomberg News/Landov Randal Quarles, vice chairman of supervision at the Federal Reserve, outlined his ideas about supervision to the American Bar Association Friday. Wall Street reformers sounded the alarm Friday after the Federal Reserve’s top bank regulator outlined some changes he would like to see in the nuts-and-bolts of howRead More →
Long-dated U.S. Treasury yields edged higher Friday after the U.S. Treasury Department announced plans, as had been expected, to issue a 20-year nominal coupon bond in the first half of 2020 to finance a ballooning federal deficit that is nearing 5% of gross domestic product. However, yields have been little-changedRead More →
Oil futures struggled for direction on Friday, seesawing between modest gains and losses, with prices on track to register a loss for a second week in a row. Traders continued to weigh the prospects for energy demand in the wake of the China-U.S. trade deal on Wednesday and Senate approvalRead More →
With the conclusion of the U.S.-China trade talks, financial markets are feeling good, but award-winning forecaster Jim O’Sullivan of TD Securities warns that the best days of this 10-year economic expansion are behind us. “The economy is slowing for sure,” O’Sullivan said after winning his 12th Forecaster of the YearRead More →
Getty Images U.S. President Donald Trump shakes hands with Chinese Vice Premier Liu He. European stocks on Thursday were on track to reach a record high, helped by relief that the U.S. and China signed a trade pact. The Stoxx Europe 600 SXXP, +0.00% added 0.16% to 420.32, above theRead More →
