Wallstreet

Buyer Beware! Wall Street Discovers Quantum Computing

Wall Street and most investors will never be up to the task.

It’s a maxim that sexy sells on Wall Street. This year we have seen tons of coverage on bitcoin, space travel, blockchain, gentech, meme stocks—even the prospect of human drone transport. New shiny objects tend to attract a certain breed of investors and that’s not necessarily a bad thing. Wall Street’s sell side is eager to profit from nascent investment ideas by throwing lots of analytic and sales horsepower behind the new exciting industries. “Early adopter” clients are quick to follow and the word

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Where Does Wall Street Think Oil Is Heading?

After a volatile week of reversals and re-reversals, oil prices have rebounded a bit again on Wednesday thanks to an overall risk-on theme returning to the markets after the Senate passed the crucial $1 trillion infrastructure spending bill.

September WTI crude (CL1:COM) closed +2.7% to $68.29/bbl, while October Brent (CO1:COM) settled +2.3% to $70.63/bbl.

The biggest challenge for oil markets has been the fast-spreading Covid-19 Delta variant hurting confidence about a global economic recovery, with market participants watching the rapidly swelling infection figures with considerable alarm. Even more worrying are new developments in China, the world’s biggest crude importer

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Wall Street stocks mixed after US inflation report

Equities updates

Wall Street stocks were mixed, US government debt rallied and the dollar sank, after a report showed American inflation remained elevated last month.

The blue-chip S&P 500 closed 0.3 per cent higher in New York, notching a new high and coming within 1 per cent of doubling its value from its March 2020 lows, when pandemic lockdowns threw global financial markets into chaos. The technology focused Nasdaq Composite, more susceptible to strong inflation pushing up interest rates, fell 0.2 per cent.

However, the

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Wall Street predicts that equity bull run will continue

Corporate earnings updates

A robust corporate profits recovery is igniting optimism on Wall Street that US equities will extend their bull run even as investors question whether companies can eclipse a high bar for earnings growth and margins.

The latest quarterly reporting season showed US corporate earnings, revenues and profit margins expanding at their strongest pace since FactSet began tracking these metrics in 2008.

That performance has helped drive US equities to fresh peaks, with the S&P 500 up more than 18 per cent

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Wall Street believes these S&P 500 stocks will drop the most from here

A medical worker from Parrish Medical Center holds a vial of the Moderna COVID-19 vaccine at a drive through vaccination clinic for employees of Port Canaveral, workers at local hotels and restaurants, and residents of the Port Canaveral community.

Paul Hennessy | LightRocket | Getty Images

The S&P 500 closed at another record high Thursday – and hit an intraday all-time high on Friday morning – but Wall Street analysts think certain stocks in the index will drop from here.

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Wall Street ekes out another high on improved jobs figures

Equities updates

Stocks on Wall Street rose on Thursday, after data showing the number of people filing for unemployment benefits for the first time fell, bolstering confidence that the US economic recovery is still fending off the spread of the delta coronavirus variant.

The S&P 500 rallied 0.3 per cent, notching its third straight day of gains and marking a fresh high. The technology heavy Nasdaq Composite index closed 0.4 per cent higher, helping to erode some of the previous two days’ losses.

Initial jobless

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Jury Convicts Two Former Wall Street Bank Traders of Wire Fraud | OPA

A federal jury convicted two men for engaging in a multi-year fraud scheme to manipulate U.S. commodities markets for publicly traded precious metals futures contracts.

According to court documents and evidence presented at trial, Edward Bases, 59, of New Canaan, Connecticut, a former senior trader employed at Deutsche Bank and Bank of America in New York, and John Pacilio, 57, of New York, New York, a former senior trader employed at Bank of America and Morgan Stanley in New York, fraudulently pushed market prices up or down by routinely placing large “spoof” orders in the precious metals futures markets that

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Goldman Sachs joins Wall Street rivals in boosting junior banker salaries

David Solomon, Goldman Sachs & Co.

Andrew Harrer | Bloomberg | Getty Images

There’s a new minimum wage on Wall Street.

Goldman Sachs is giving its junior bankers a pay raise, the last major Wall Street firm to do so in a year where record deal-making activity has led to fierce competition for workers.

First-year analysts — the most junior of investment bankers who are typically recent college graduates — will be paid a $110,000 annual base salary, up from $85,000, according to a person with knowledge of the changes. The person added that second-year analysts will earn $125,000, up

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Wall Street largely sticks to back-to-office plans, but cracks emerge as infections mount

Aug 5 (Reuters) – Many of Wall Street’s biggest banks are sticking by their decision to make employees return to the office in the coming weeks even as public health officials’ warnings about the aggressive Delta variant of the coronavirus are prompting some firms to rethink their plans.

The variant is sparking fears even among vaccinated professionals that they might be bringing home harm to unvaccinated children and others after a day at the office. This has created pressure for law firms, financial service companies and others to re-evaluate, lawyers, bankers and investment managers said.

Wells Fargo & Co (WFC.N)

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