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Firm caps redemptions as retail investor exodus accelerates across the industry
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A list of 20 highly rated stocks favored by analysts for gains over the next year includes only one that has risen this year: Nvidia.
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In a live CNBC interview from his home district, Goolsbee declined to speculate on where he thinks interest rates are headed.
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Wall Street, and Main Street, love their round numbers, as at least four strategists have the same 8,000 year-end target on the S&P 500.
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The Federal Reserve left its benchmark interest rates unchanged Wednesday, and signaled its next move could be a rate increase. It's the first rate decision under the new Fed chairman, Kevin Warsh.
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Ford Motor Co. and the dealership that serviced a 2020 F-250 Super Duty can't force the pickup's owners to arbitrate their lemon law claim, a California appeals court ruled.
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Stocks continued their push higher Friday, with today's gains helping the major market indexes snap a three-week losing streak.
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There was nothing particularly new today to boost investor sentiment. Both the economic and earnings calendars were thin. And early afternoon speeches from Kansas City Fed President Esther George and Fed Governor Christopher Waller echoed the hawkish tone struck by central bank officials in recent weeks. It could just be that Wall Street has come to terms with the fact that the Fed will almost certainly issue a third-straight 75 basis point rate increase at its policy meeting later this month. Or perhaps investors are simply taking advantage of bargains from the late-August selloff.
Whatever the reason, today's rally was broad-based, with all 11 sectors finishing higher. Leading the pack was communication services, which jumped 2.8% on strong gains for components Meta Platforms (META, 4.4%) and Netflix (NFLX, 2.7%). Energy ( 2.5%) also outperformed as U.S. crude futures bounced 3.9% to $86.79 per barrel.
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As for the major indexes, the Nasdaq Composite's 2.1% rally to 12,112 outpaced its peers. Still, the S&P 500 Index ( 1.5% to 4,067) and the
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