looms

Wall Street eyes COVID-19 Delta variant as return to office looms

As the Dow Jones Industrial Average posted its worst day since October of last year over pandemic fears, FOX Business has learned that top executives at the Big Banks are closely monitoring the spread of the coronavirus Delta variant and how it may impact plans to re-open offices particularly in large urban areas such as New York City. 

People at banks such as JPMorgan, Morgan Stanley and Goldman Sachs say that so far they’ve made no changes

Read More

Wall Street faces turmoil as ‘triple witching’ looms

Don’t be fooled by the sanguine equity reaction to the Federal Reserve’s hawkish surprise. Some Wall Street strategists attribute the latest tranquility to a technical backdrop that’s about to shift on Friday (US time).

The quarterly event, known as “triple witching,” occurs when options and futures on indexes and equities expire. Of particular interest are trillion dollars of options tied to benchmarks like the S&P 500 Index, whose expiration Goldman Sachs and Nomura Securities say may open the door for turmoil.

While these sudden rallies can create lucrative returns, extreme volatility can quickly catch traders offside.Credit:AP

How the

Read More

A big jobs report looms in the week ahead, as markets enter the often-weak month of June

A trader works on the floor of the New York Stock Exchange.

NYSE

May’s employment report is the big event in the week ahead, as stocks enter the often weak month of June. Stocks are finishing May with a mixed performance. Big cap indexes like the S&P 500 and Dow notched gains. The S&P rose a half percent, and the Dow rose 1.9%. The small cap Russell 2000 was flat, up 0.1%, and the tech-heavy Nasdaq declined 1.5%.

June is not historically a strong month for stocks. Bespoke Investment Group points out that over the past 50 years, the Dow

Read More