Category: Market News
President Joe Biden tested negative for COVID-19 on Friday, the White House said. That result comes as a number of officials in Washington, D.C., have tested positive, raising concerns at a time when the Biden administration’s narrative is that the pandemic is under control. Source: Marketwatch
William Watts is MarketWatch’s senior markets writer. Based in New York, Watts writes about stocks, bonds, currencies and commodities, including oil. He also writes about global macro issues and trading strategies. Before moving to New York, he reported for MarketWatch from Frankfurt, London and Washington, D.C. Source: Marketwatch
Amid the debate over whether the U.S. is about to head into an economic downturn, the Duke University finance professor who pioneered the use of bond-market yield curves as a predictive tool has a few things to say. One is that it’s too soon to say whether a contraction is on the way, though the […]
The Dow closed modestly higher Friday, but all three major stock indexes finished the week lower after the Federal Reserve’s March meeting minutes outlined its tentative plans to cut the size of its $9 trillion balance sheet at a record pace. The Dow Jones Industrial Average DJIA, +0.40% advanced about 139 points, or 0.4% Friday, […]
Lowe’s Cos. Inc. LOW, +1.98% said late Friday it has appointed Brandon Sink as its chief financial officer, effective April 30. Sink, currently senior vice president of retail finance, succeeds Dave Denton, who is stepping down as CFO to “pursue another opportunity at a publicly traded company outside the industry,” Lowe’s said. Sink and Denton […]
Citigroup Inc.’s stock C, +1.99% rose 2.0% in afternoon trading, reversing an intraday loss of as much as 0.4%, putting it on track to produce a “bullish engulfing” candlestick chart pattern that many technicians believe precedes a trend reversal. On Thursday, the stock had opened at $50.56 then closed at a 17-month low of $50.03. […]
Private equity investments continued a trend of outperforming public equities, according to a presentation on Thursday by Hamilton Lane Inc. HLNE, +0.84%, a specialist in private markets. Between the start of 2017 and January 2022, private markets generated a roughly 2.4x return, compared to a 1.5x return from stocks. Hamilton Lane warned of a potential […]
Shares of Rackspace Technology Inc. RXT, +0.55% dropped 3.0% in premarket trading Friday, after the cloud services company was downgraded by Oppenheimer analyst Timothy Horan, who said increased macro headwinds and “very high debt” warrants caution. Horan cut his rating to perform, after being at outperform since January 2021, and removed his $18 stock price […]
Designer Brands Inc. DBI, +1.01% said ahead of its 2022 Investor Day on Friday that it has raised its full-year earnings outlook and has reinstated a quarterly dividend after a two-year COVID-19-related pause. Shares of the DSW Designer Shoe Warehouse store chain were still inactive in premarket trading. The company said it now expects fiscal […]
Gold futures on Thursday marked their highest settlement in a week, with geopolitical risks providing some underlying support for gold, said Edward Moya, senior market analyst at OANDA. “If the next round of sanctions from the [European Union] against Russia are hard-hitting, gold could have a meaningful rally out of its trading range,” he said. […]