Tag: Marketwatch
Published: March 15, 2022 at 3:23 p.m. ET President Joe Biden’s pick for Federal Reserve vice chair for supervision, Sarah Bloom Raskin, has withdrawn from being his nominee, according to a source familiar with the matter. Analysts had said on Monday that Biden probably would need to come up with a new Fed pick after […]
There’s the potential for a bigger market-moving development from the Federal Reserve than its widely expected quarter percentage point interest rate hike on Wednesday: fresh information about policy makers’ plans for reducing their almost $9 trillion balance sheet. B. of A. strategists Mark Cabana and Katie Craig, along with portfolio manager Thomas Graff of Brown […]
Stocks ended sharply higher Tuesday as oil prices continued to pull back from 14-year highs. The Dow Jones Industrial Average DJIA, +1.82% jumped around 599 points, or 1.8%, to close near 33,544, according to prelminary figures, while the S&P 500 SPX, +2.14% advanced around 89 points, or 2.1%, finishing near 4,262. the Nasdaq Composite COMP, […]
The American Petroleum Institute reported late Tuesday that U.S. crude supplies rose by 3.75 million barrels for the week ended March 11, according to sources. The API also reportedly showed a weekly inventory decline of 3.8 million barrels for gasoline, while distillate stockpiles edged up by 888,000 barrels. Crude stocks at the Cushing, Okla., delivery […]
A part of the Treasury yield curve has been inverting since Friday during the run-up to this week’s Federal Reserve’s policy decision, and traders are chalking up the development to a simple technicality. The 7-year Treasury yield TMUBMUSD07Y, 2.160% has traded above the 10-year yield TMUBMUSD10Y, 2.150% largely because of a move known as “convexity […]
The energy sector was taking a broad beating Tuesday, as crude oil prices continued their recent plunge below $100 a barrel. The SPDR Energy Select Sector ETF XLE, -3.23% slumped 3.3% in afternoon trading, and was the only SPDR ETF tracking the 11 S&P 500 SPX, +1.46% sectors to be declining, while the S&P 500 […]
Wells Fargo & Co. WFC, -0.41% CEO Charles W. Scharf earned total 2021 compensation of $24.5 million, which includes $2.5 million in base salary, a $5.37 million cash bonus, $10.81 million in performance shares awards (PSAs) and $5.82 million in restricted share rights (RSR), according to the bank’s proxy statement filed on Monday. In 2020, […]
JPMorgan Chase & Co. JPM, +1.36% said Tuesday it agreed to pay an undisclosed sum for Global Shares Plc, a 600-employee share plan software company based in Cork, Ireland. Global Shares has been backed by private equity firm Motive Partners since 2018. Mary Callahan Erdoes, CEO, J.P. Morgan Asset & Wealth Management, led the deal […]
Sovos Brands Inc. SOVO, -2.26% shares rose 1.6% in Tuesday premarket trading after the food company reported fourth-quarter profit and sales that beat expectations. Net loss totaled $3.8 million, or 4 cents per share, after a loss of $479,000 or a penny per share, last year. Adjusted EPS of 13 cents beat the FactSet consensus […]
Shares of Moderna Inc. MRNA, +8.59% soared 19.2% in trading on Monday after the company announced that it began dosing participants in a Phase 1 clinical trial of its experimental HIV vaccine. The trial is an open-label, randomized study evaluating the investigational mRNA vaccine in 100 adults between the ages of 18 and 55 years […]