U.S. stocks fell, with the Standard & Poor’s 500 Index headed for a one-month low, while Treasuries and the yen gained as the Federal Reserve said it would make further reductions in economic stimulus and as emerging-market currencies weakened. Gold and natural gas climbed.
The January statement released minutes ago is practically identical to the prior month and contains the highly anticipated continuation of measured reduction in the monthly pace of bond purchases. The FOMC voted unanimously, and we don’t recall off hand the last time that happened.
With South Africa and Turkey raising rates to support their currencies, as well as a possible second taper announcement occurring today from the U.S. FOMC, stock markets could be retreating because of these interest rate moves.
German Chancellor Angela Merkel called for a fresh push to create “real economic union” through changes to European treaties, saying that the euro-area debt crisis isn’t yet defeated.
Hump day is providing investors with a major speed bump before the market opens. The E-Mini contract is trading down to as low as 1772.25, almost 30-handles lower than the overnight high set just hours ago.
Michel Barnier, the European Union’s financial services chief, faces opposition to his plans to curb the activities of about 30 of the bloc’s largest banks to prevent them being too big to fail.
Last month I warned about the bubble in the stock market, and what was going to happen when it popped. Make no mistake, the chart of the S&P is the most dangerous chart in the world. When this parabolic structure collapses, it is going to bring down the global economy.
Stock performance among retailers that target different income classes has diverged a lot since the recession started. Why?
Apple Inc.’s roster of devices is hitting a sales ceiling, underscoring why it’s crucial for Chief Executive Officer Tim Cook to deliver the company’s first new products since 2010 to revive growth.
U.S. stock index futures pared a gain of 8-points following the release of a disappointing durable goods report. New orders for longer-lasting goods slumped at year-end by 4.3% leaving estimates of a rise wanting.