Why China-Taiwan tensions moved to the forefront of financial market worries

Why China-Taiwan tensions moved to the forefront of financial market worries

It’s an island off the coast of China, with a land area comparable to Maryland and Delaware combined. Its population is about 1 million higher than that of Florida. Often overlooked in world headlines, Taiwan is grabbing the financial market’s attention as the biggest macro risk of the day, prompting many traders and investors to … Read more

JP Morgan quant who called summer rebound in stocks says rally could continue even if corporate profits decline

JP Morgan quant who called summer rebound in stocks says rally could continue even if corporate profits decline

Investors worried about the next pullback for stocks might want to pause and consider this: the decline in equity valuations since the start of the year already has exceeded the average pullback of other recessionary periods since the early 1990s, according to JPMorgan Chase & Co.’ s equity as to Marko Kolanovic. While more Wall … Read more

Celsius customers write pleas to bankruptcy court to get crypto back: ‘This is an emergency situation, simply to keep a roof over my family and food on their table.’

Celsius customers write pleas to bankruptcy court to get crypto back: ‘This is an emergency situation, simply to keep a roof over my family and food on their table.’

Some customers of crypto lender Celsius Network, which filed for bankruptcy earlier this month, have written to the Bankruptcy Court for the Southern District of New York, with a hope of getting their funds back. As digital assets crashed, Celsius, which said it had more than 1.7 million users as of June, halted withdrawals since … Read more

Stock market bottom or bear bounce? What skeptics want to see as S&P 500 extends gain

Stock market bottom or bear bounce?  What skeptics want to see as S&P 500 extends gain

US stocks on Wednesday were attempting to build on a big and broad Tuesday bounce, but skeptics aren’t yet convinced the move is more than a bear-market rally. Tuesday’s rally was “undoubtedly impressive, especially following a sharp reversal lower the previous day,” said Kevin Dempter, a technical analyst at Renaissance Macro, in a Wednesday note. … Read more

Buying stocks now could bring you pain over the next few weeks. But you’ll be thanking yourself a year from now, these analysts say.

Buying stocks now could bring you pain over the next few weeks.  But you’ll be thanking yourself a year from now, these analysts say.

How bad is the mood out there right now? Try max bearish. So said Bank of America’s latest fund manager survey on Tuesday that showed expectations for profits and growth at recessionary levels. Yet Wall Street rallied and more gains are ahead for Wednesday, partly on earnings optimism but also as some see all this … Read more

Dow clings to gain as earnings season kicks off, with investors scaling back Fed rate-hike expectations

Dow clings to gain as earnings season kicks off, with investors scaling back Fed rate-hike expectations

US stocks rose, but trimmed earlier gains, as investors focused on positive elements in the quarterly results of Goldman Sachs Group Inc. and Bank of America Corp. in an attempt to build upon upside momentum ahead of the Federal Reserve’s interest rate hike next week. How stocks are trading The Dow Jones Industrial Average DJIA … Read more

Beleaguered crypto lender Celsius files for Chapter 11 bankruptcy

Beleaguered crypto lender Celsius files for Chapter 11 bankruptcy

Calling it a “a defining moment,” embattled crypto lender Celsius Networks has filed for Chapter 11 bankruptcy protection. In a statement late Wednesday, Celsius co-founder and Chief Executive Alex Mashinsky said the filing in US Bankruptcy Court for the Southern District of New York “is the right decision for our community and company.” “I am … Read more

Expect the stock market to be driven ‘more by earnings than the macro,’ says Morgan Stanley’s Wilson

Expect the stock market to be driven ‘more by earnings than the macro,’ says Morgan Stanley’s Wilson

Earnings season will be a key test for the stock market after the S&P 500 last week closed out its worst half-year performance since 1970, said strategists from Morgan Stanley. The direction of stocks going forward will be mostly tied to second-quarter earnings as interest rate hikes and surging inflation reflect the growth slowdown more … Read more

Powell says no guarantee of soft landing for US economy

Powell says no guarantee of soft landing for US economy

Fed Chairman Jerome Powell on Wednesday said there was no guarantee that the central bank can engineer a soft landing for the US economy. “We think that there are pathways for us to achieve the path back to 2% inflation while still retaining a strong labor market. We believe we can do that,” Powell said, … Read more

Here’s what Goldman Sachs sees as the next big there-is-no-alternative-trade

Here’s what Goldman Sachs sees as the next big there-is-no-alternative-trade

The last trading day of May is being marked by weakness in stocks and surging crude prices, climbing after the EU hammered out a partial ban on Russian oil imports after that country’s invasion of Ukraine four months ago. That brings us to our call of the day from Goldman Sachs, who sees a budding … Read more