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Oppenheimer issues bold price target on SpaceX stock thestreet.comA Guide to the Biggest Winners From the SpaceX IPO WSJForbes Declares Elon Musk As The World's First Trillionaire ForbesHere are the 3 big things we're watching in the stock market in the week ahead CNBCMusk Is the World's First Trillionaire. Who Was the First Billionaire? The New York Times
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U.S. stock futures jump on Iran deal to end the war; Japan's Nikkei surges 5%: Live updates CNBCOil prices fall on US-Iran agreement CNNCrude oil futures drop after Trump promises an Iran deal will be signed Friday NPRUS Futures Climb, Oil Falls on Iran Peace Deal: Markets Wrap Bloomberg.comShares surge, oil skids in Asia on Gulf deal Reuters
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Oil prices fell and U.S. stock-index futures jumped Sunday after President Donald Trump said the U.S. has agreed to a peace deal with Iran, apparently ending months of hostilities that shut the Strait of Hormuz and sent the global economy into an oil shock.
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The Federal Reserve served up a widely expected third consecutive jumbo rate hike when it concluded its regularly scheduled two-day meeting on Wednesday. Chair Jerome Powell and the rest of the Federal Open Market Committee (FOMC) raised the federal funds rate by 75 basis points. (A basis point equals 0.01%.)
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Although the move matched consensus expectations, a significant portion of the bond market - and plenty of traders and tacticians, for that matter - were bracing for a whopping 100 bp rate hike. Uncertainty over just how hawkish the Fed would reveal itself to be has cast a pall on equities over the preceding weeks, and so a rate hike of "only" three-quarters of a percentage point was actually met with some relief. Stocks sold off sharply when the Fed released its statement at 2 p.m. Eastern, but then drifted back into positive territory during Powell's press conference, which began a half-hour later.
Ultimately, however, the major indexes finished in the red. That's because the Fed's bottom line is that inflation is by no means under control. And while there might be ample anecdotal and emotional evidence pointing to the contrary, the economy is simply running too hot. An imbalance in supply and demand in the labor market and related strong real wage growth, snarled supply chains and a rising dollar are just some of the factors confounding monetary policymakers - not to mention corporate revenues and profit margins.
As we've
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