The Warhol signal for the US stock market

In the bidding wars at Sotheby’s this week — where the former couple Harry and Linda Macklowe were parting with much of their art collection after a bitter divorce — there were a few mysterious lulls.

Several of the best-known works sold for less than expected. Alberto Giacometti’s Le Nez, a bronze long-nosed figure, was hammered below its $70m to $90m estimate before an Andy Warhol silkscreen of Marilyn Monroe went for $41m, only slightly above the low end of its expected price range. It was somewhat incongruous given the enthusiasm seen minutes earlier that helped set records for

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Wall Street rises as Powell gives no signal on taper

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. REUTERS/Brendan McDermid/File Photo

Aug 27 (Reuters) – Wall Street’s main indexes extended gains on Friday as Federal Reserve Chair Jerome Powell signaled the U.S. central bank will remain patient as it tries to nurse the economy back to full employment.

In prepared remarks for a speech to the Jackson Hole economic conference, Powell said the U.S. economy continued to make progress towards the central bank’s benchmarks for reducing its pandemic-era emergency programs, but stopped short of signaling the timing

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Materials stocks may signal second half slowdown

Materials stocks may be flashing a warning signal.

A recent reversal in the S&P 500 basic materials index could mean growth is about to hit a wall, Miller Tabak’s chief market strategist, Matt Maley, told CNBC’s “Trading Nation” on Tuesday.

“From March 2020 until May of this year, the materials stocks outperformed in a major way,” up around 130% versus a 90% gain for the broader S&P 500, Maley said.

But materials stocks have stalled since their May 17 peak, falling 5% while the S&P has climbed 5.5%.

A reversal like that from such

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Nifty formed a Doji candle on tech charts today. What does it signal for tomorrow’s trade?

Sensex and Nifty soar to record closing highs. Strong buying interest seen in IT, metal and pharma shares. Selling pressure witnessed in PSU bank, real estate and media stocks. Tata Steel top performer among blue-chip stocks, up 4%. JSW Steel, Coal India, Dr Reddy’s, Hindalco, Power Grid, TCS and RIL among other gainers. Axis Bank top laggard in Nifty50 universe, down 1%. Divi’s Labs, IndusInd Bank, L&T, Bajaj Finserv, HDFC Life, SBI Life and SBI Life among other losers. Fear gauge VIX eases 6%.

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Wall Street moved slightly higher as inflation

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