Wall Street Journal (February 17)
“Treasury yields have sprung to multiyear highs, forcing the U.S. government to pay a lot more in interest and putting pressure on the budget.” Over the new decade, federal interest costs are now expected to rise by $1.1 trillion, reviving “Wall Street worries that the years-long acceleration in borrowing under both political parties will eventually weigh on economic growth and asset prices.”
Tags: $1.1 trillion, Asset prices, Borrowing, Budget, Costs, Economic growth, Interest, Pressure, Treasuries, U.S. Government, Wall Street, Worries, Yields
Business Insider (February 16)
“The US economy managed to shake off Wall Street’s gloomy forecasts and dodge a long-predicted slump last year — but the same can’t be said for two other members of the G7.” Both the UK and Japan entered technical recessions based on data released Thursday showing each nation’s GDP fell during both of the two last quarters in 2023.
Tags: 2023, Economy, Fell, Forecasts, G7, GDP, Japan, Predicted, Slump, Technical recessions, U.S., UK, Wall Street
New York Times (February 16)
“BlackRock, JPMorgan Chase and State Street are quitting or scaling back their ties to an influential global investment coalition.” The former reduced its ties with “Climate Action 100+, a global investment coalition that has been pushing companies to decarbonize” while the latter two outright quit the coalition. “All told, the moves amount to a nearly $14 trillion exit from an organization meant to marshal Wall Street’s clout to expand the climate agenda.”
Tags: $14 trillion, BlackRock, Climate Action 100+, Climate agenda, Coalition, Decarbonize, Global, Investment, JPMorgan Chase, Quitting, Scaling back, State Street, Wall Street
MarketWatch (January 24)
“Megacap technology stocks have retaken leadership of the U.S. stock market as the S&P 500 continues to hit new record highs, defying hopes on Wall Street for a more broad-based rally.” Since January 1, “the so-called Magnificent Seven have gained a combined $540.7 billion in market capitalization, compared with a total market-cap gain of $802.5 billion for the S&P 500 SPX through Tuesday’s close.”
Tags: $540.7 billion, Broad-based, Magnificent Seven, Market-cap, Megacap, Rally, Record highs, S&P 500 SPX, Stock market, Stocks, Technology, U.S., Wall Street
Washington Post (January 19)
“The S&P 500 hit an all-time closing high Friday.” Up over 1% from Thursday, the index closed at 4,839.81, “surpassing the previous closing record set in January of 2022.” Support stems from confidence in an economy that has averted a recession, apparently achieving an elusive soft-landing. Analysts also “point to an AI-driven frenzy on Wall Street that rivals the dot-com boom of the late ’90s, when investors sought to capitalize on the transformative gains brought by the early internet.”
Tags: AI, Analysts, Boom, Capitalize, Dot-com, Economy, Frenzy, Gains, High, Internet, Investors, Recession, Record Confidence, Rivals, S&P 500, Soft landing, Transformative, Wall Street
Bloomberg (December 1)
“For all the bullish milestones notched by November’s big market surge, recent history offers Wall Street a lesson in caution. Time and time again, speculation breaks out that the Federal Reserve is poised to ease monetary policy soon enough — spurring even cautious investors to erupt in a spasm of cross-asset buying. Stocks jump, bond yields fall, and a dash ensues among equity speculators into shady corners encompassing everything from meme fliers to crypto and profitless tech.”
Tags: Bonds, Bullish, Caution, Cautious, Cross-asset buying, Crypto, Fed, Investors, Market surge, Monetary policy, November, Speculation, Stocks, Tech, Wall Street, Yields
Markets Insider (October 16)
SEC Chair Gary Gensler “has warned that AI could trigger a financial crisis, as Wall Street rushes to adopt the new technology.” He is calling for “AI regulation that addresses both the underlying AI models built by tech companies and how they are used by Wall Street banks, describing it as a ‘cross-regulatory challenge.’”
Tags: Adopt, AI, Banks, Chair, Financial Crisis, Gensler, Models, New technology, Regulation, Rushes, SEC, Trigger, Wall Street, Warned
Insider (August 2)
“Fitch shocked the markets when it cut the US government’s credit score Tuesday at a time when the economy appears to be in a stable state.” The downgrade from AAA to AA+ has been widely criticized, “from top Biden administration officials to Wall Street,” with “market thinkers” labelling it “bizarre,” “puzzling,” “unwarranted,” “strange” “inept” and “ridiculous.”
Tags: AA+, AAA, Bizarre, Credit score, Criticized, Downgrade, Economy, Fitch, Inept, Markets, Puzzling, Shocked, Stable, Strange, U.S. Government, Unwarranted, Wall Street
New York Times (July 25)
“One question is at the top of many investors’ minds: Is the hype around artificial intelligence, which has propelled tech giants’ stock prices sky-high in recent months, justified, or is it another bubble in the making?” At the moment, “Wall Street is deeply divided about the A.I. rally” though this may change as Big Tech reports earnings.
Tags: Artificial intelligence, Bubble, Divided, Earnings, Hype, Investors, Justified, Propelled, Rally, Sky-high, Stock prices, Tech giants, Wall Street
Financial Times (April 28)
“Deprived of investment opportunities abroad, Russians have piled their savings into the likes of Lukoil, Gazprom and Sberbank, which combined account for about 40 per cent of the stock market’s total value.” Marking a rebound, “Russia’s stock market has climbed to its highest level in more than a year as domestic retail investors with nowhere else to go snap up the dividend-paying stocks that sold off heavily following the invasion of Ukraine”.
Tags: 2022, Banking crisis, Bracing, Economy, Fears, Growth, Interest rates, Q1, Q4, Recession, Slowdown, U.S., Wall Street, Wobbled