Bloomberg “Trump’s Olive Branch to Democrats Cut Short by Divisive Tone.” Donald Trump reached across the aisle in his first State of the Union address, offering to work with Democrats on infrastructure, criminal justice and drug prices after a divisive first year in office. But those overtures in Tuesday’s speech fell flat with his opponents,....
Bloomberg “Treasury Rout Sinks Stocks as Rate Angst Deepens: Markets Wrap.” The selloff in U.S. assets picked up steam as strong jobs data increased the likelihood the Federal Reserve will lift rates next month. Equities headed for the worst week in two years and Treasuries tumbled to a four-year low. The S&P 500 Index’s slump....
Bloomberg “What on Earth Happened to Stocks? Here’s Where to Cast the Blame.” The sharp sell-off in stocks that started last week and gathered steam this week lacked a specific trigger — unlike the last time U.S. shares fell this much, which came in the wake of the U.S. losing its AAA sovereign rating at....
Bloomberg “Get Ready for Most Cryptocurrencies to Hit Zero, Goldman Says.” The tumble in cryptocurrencies that erased nearly $500 billion of market value over the past month could get a lot worse, according to Goldman Sachs Group Inc.’s global head of investment research. Most digital currencies are unlikely to survive in their current form, and....
Bloomberg “U.S. Equity Indexes Rebound; Treasuries Decline: Markets Wrap.” The convulsions in U.S. equity markets showed signs of abating, with indexes bouncing back from Thursday’s big losses, but stocks remain on track for their worst week in more than a year as interest-rate fears haunt investors. The S&P 500 Index opened higher Friday after entering....
Bloomberg “Stocks Rebound Globally as Crude Oil Snaps Selloff.” Investors got a reprieve from last week’s rout as equities advanced around the world and volatility subsided. Treasuries fell alongside the dollar. The S&P 500 Index climbed, led by tech hardware makers and energy producers, joining gains in the Stocks Europe 600 and gauges in Asia.....
Bloomberg “U.S. Stocks Fluctuate as Traders Weigh Fed Outlook.” U.S. stocks pared declines, as financial shares pushed higher with 10-year Treasury yields after data showed an unexpected acceleration in price gains. The S&P 500 Index was slightly higher after erasing a drop of 0.5 percent. Futures on the measure had tumbled more than 1 percent....
Bloomberg “European Stocks Falter After Asia Rally; Oil Rises.” European shares struggled to carry forward a rally from Japan and the U.S., where the S&P 500 index notched its best week in five years. Oil climbed while the dollar advanced against most major peers. The Stoxx Europe 600 index slipped as auto and consumer stocks....
Bloomberg “Einhorn Says Greenlight Posts Worst Underperformance Since 2000.” Hedge fund manager David Einhorn said a shift in favor toward value stocks may soon be coming even after his firm posted its worst underperformance in almost two decades. “While we’ve never underperformed like this, our prior worst underperformance compared to the S&P came in March....
Bloomberg “Traders Are Acting Like Canada and the U.S. Are the Same Economy.” The two biggest North American economies might as well share one central bank as far as traders are concerned. Market-implied tightening by the Federal Reserve and Bank of Canada through 2019 is priced nearly identically despite mounting signs that the latter is....
Bloomberg “U.S. Fourth-Quarter Growth Revised Down to 2.5% Annual Pace.” The U.S. economy’s growth rate last quarter was revised slightly downward as inventories subtracted more than previously estimated, Commerce Department data showed Wednesday. The latest results for GDP, the value of all goods and services produced in the U.S., show the economy ended the year....
Bloomberg “Trump Says No Mexico, Canada Steel Break Without Fair Nafta.” President Donald Trump said the U.S. won’t lower tariffs on steel and aluminum from Mexico and Canada unless the two countries agree to a revamped Nafta that’s fair to the U.S. “NAFTA, which is under renegotiation right now, has been a bad deal for....
Bloomberg “Blown Earnings Calls Started the Bull Market. One Day They’ll End It.” As the U.S. equity bull market heads into its 10th year with earnings underpinning the case for buying, consider this: at the most important turning points for stocks in the past decade, profit projections have been laughably wrong. Take the start of....
Bloomberg “Bond Traders Haven’t Been So Leery of U.S. Auctions Since the Crisis.” Add one more thing to the list of worries for the world’s most indebted nation: weakening demand at its bond auctions. While there’s no danger of the U.S. being unable to borrow as much as it needs, over the past two years,....
Bloomberg “U.S. Existing-Home Sales Rebound Even as Inventory Remains Tight.” Sales of previously-owned U.S. homes rose more than expected in the first gain in three months, indicating that job gains and tax cuts are supporting demand despite low supply, National Association of Realtors data showed Wednesday. The results indicate that even with a low supply....