By Saikat Chatterjee LONDON (Reuters) -Narrowing equity market breadth, rising volatility and the prospects of rate hikes are the classic signs of a market top, BofA said in a weekly report on Thursday. Just five of the biggest U.S. technology stocks accounted for 71% of the nearly 20% gains in U.S stocks, BoFA analysts noted …
Narrowing equity market breadth may signal a “market top” -BofA Read More »
By Devik Jain and Sinéad Carew (Reuters) – Wall Street’s major indexes closed lower on Friday, with the Nasdaq leading the declines as investors bet that a strong jobs report would not slow the Federal Reserve’s withdrawal of support all while they grappled with uncertainty around the Omicron coronavirus variant. After opening higher, Wall Street …
Wall St ends lower on Omicron worries, Fed taper angst Read More »
(Reuters) – Bitcoin plunged 5.5% to $53,435.9 at 22:04 GMT on Friday, losing $3,112.06 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 22.6% from the year’s high of $69,000 on Nov. 10. Ether, the coin linked to the ethereum blockchain network, dropped 6.81% to $4,208.68 on Friday, losing $307.35 from …
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Speculators’ net long positioning on the U.S. dollar in the latest week soared to its highest level since mid-June 2019, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position was $23.99 billion for the …
U.S. dollar net longs jump to highest since mid-June 2019 – CFTC, Reuters data Read More »
(Reuters) – U.S. Federal Reserve Chair Jerome Powell met with more lawmakers in October than in any month since February, his calendar published Friday showed, as President Joe Biden weighed whether to ask senators to approve Powell’s renomination or pick someone else to lead the central bank. Powell’s 16 chats with lawmakers that month included …
Fed’s Powell met with more lawmakers as renomination hung in the balance Read More »
By Ann Saphir (Reuters) – Federal Reserve policymakers look likely to accelerate the winddown of their bond-buying program when they meet later this month as they respond to a tightening labor market and move to open the door to earlier rate hikes than they had projected. U.S. employers added 210,000 jobs last month, a U.S. …
Faster Fed taper, earlier rate hikes in sight as unemployment falls Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. employment growth slowed considerably in November amid job losses at retailers and in local government education, but the unemployment rate plunged to a 21-month low of 4.2%, suggesting the labor market was rapidly tightening. The four-tenths-of-a-percentage-point drop in the jobless rate from October reported by the Labor Department …
U.S. labor market tightening despite moderate November job gains Read More »
By David Randall NEW YORK (Reuters) – Star stock picker Cathie Wood’s ARK Innovation ETF tumbled more than 7% and hit its lowest level since November 2020 on Friday as bets on a more aggressive Federal Reserve pushed investors to sell the high-growth, high-valuation stocks that rallied during the early stages of the pandemic. The …
Cathie Wood’s ARK Innovation fund hits 13-month low in tech selloff Read More »
By David Ljunggren OTTAWA (Reuters) – Canada still has some room for maneuver before the U.S. Senate votes on a proposed electric-vehicle tax credit for American manufacturers, a measure Ottawa opposes, Trade Minister Mary Ng said on Friday. Ng, speaking by phone from Washington after three days of lobbying against the measures, reiterated that Canada …
Canada still has time to act before U.S. vote on disputed EV tax credit – trade min Read More »
By Jason Lange WASHINGTON (Reuters) – A bipartisan think tank warned on Friday the U.S. government could start missing payments on its bills as soon as Dec. 21 if Congress fails to raise the debt limit, as top Democrats and Republicans sought a path around such a financial calamity. The Bipartisan Policy Center’s projection, based …
U.S. government could miss payments as soon as Dec. 21 – think tank Read More »
