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The U.S. announced Tuesday that it will tap its Strategic Petroleum Reserve as part of a global effort from energy-consuming nations to calm this year’s rapid rise in fuel prices. The coordinated release by the U.S., India, China, Japan, South Korea and the U.K. is a first of its kind move. It’s came after OPEC and its allies rebuffed repeated requests from the U.S. and other nations to pump more to match demand. (CNBC)
* How the Build Back Better Act is giving high earners a one-year tax break (CNBC)
The Biden administration
Nov 24 (Reuters) – Australian shares inched lower on Wednesday, dragged down by technology and gold stocks, as rising Treasury yields sparked a panic selloff of the bullion and some big U.S. tech names.
The S&P/ASX 200 index (.AXJO) fell 0.2% to 7,395.1 by 0039 GMT. The benchmark index closed up 0.8% on Tuesday.
Gold stocks (.AXGD) fell 1.7% after the price of the safe-haven asset dropped to a near three-week low as the renomination of U.S. Federal Reserve Chair Jerome Powell fuelled bets of faster interest rate hikes.
One of the core tenets of investing that people need to understand before they even begin to put money into stocks is that the market is not always rational. You can generally rely on certain principles to point you in the right direction, but there will be risk in any strategy since the share prices might move in ways that just don’t seem to make sense.
For example, meme stocks have become a feature of the market in 2021, which means that groups of individual small investors can foment excitement about a stock that doesn’t deserve your confidence and jack
Stocks ended Friday’s session weighed by growing concerns over nationwide COVID-19 lockdowns in Europe that raised fears about new restrictions beyond the continent, which pressured blue chip stocks, oil and the broader market.
The Dow slid 200 points, or 0.6%, settling at its lowest levels in 3 weeks and down1% on the week, while the S&P 500 notched a slim daily gain. However, the Nasdaq Composite set a fresh record, bolstered by rallying technology shares.
Markets were unsettled after the Austrian government announced a full lockdown starting on Monday, in response to cases of COVID-19 surging in Europe. The lockdown
Stocks advanced Friday after a mixed session in the markets, with both earnings and inflation data remaining at the center of investor attention.
The S&P 500 gained, and both the Dow and Nasdaq also closed out Friday’s session in the green after a volatile trading week. Shares of Dow component Johnson & Johnson (JNJ) rose after the company said it was planning to break up into two separate companies focused on consumer health products and pharmaceuticals, respectively, in a move echoing a similar breakup announcement by General Electric (GE) earlier this week.
As of Friday’s close, however, the S&P 500
Wall Street was mixed Thursday, with investors grappling with the implications of inflation that has soared to its highest in decades, and third-quarter earnings that are starting to show signs of slowing growth.
The S&P 500 was rose after back-to-back sessions of losses. The Nasdaq outperformed, with some of Wednesday’s biggest technology laggards posting a rebound — led by Netflix (NFLX) which overtook Disney in market capitalization.
With no notable economic data due out on Thursday due to the Veterans Day holiday, investors have been left to continue responding to the latest batch of mixed economic data. And meanwhile, a
US stock markets closed lower on Tuesday, snapping an eight-day winning streak as Tesla shares dropped and investors took a cautious approach ahead of a round of important data on inflation.
The blue-chip S&P 500 share index, which on Monday closed out its longest unbroken series of all-time highs since 1997, closed down 0.3 per cent. The technology-focused Nasdaq Composite was 0.6 per cent lower at the bell as both Wall Street indices were dragged down by a fall in the shares of Tesla.
Shares of the electric car maker slid after Twitter users polled by co-founder Elon Musk voted
A major Wall Street firm is piling into stocks near record highs.
Wilmington Trust’s Meghan Shue reveals her firm has one of its largest stock market overweights ever.
Shue, who oversees $152 billion in assets, attributes a strong economic backdrop and seasonal tailwinds for the bullish move.
“The near-term disruptions and the near-term concerns over inflation and supply chain disruptions could create some real opportunities,” the firm’s head of investment strategy told CNBC’s “Trading Nation” on Wednesday. “We see this supply chain disruption as delaying not destroying the demand from consumers and businesses alike. And, we think that will be
Stocks gained Wednesday afternoon as investors digested a key monetary policy decision from the Federal Reserve, which included a formal announcement of the central bank’s start to tapering its pandemic-era asset purchases.
The S&P 500, Dow and Nasdaq each rose to record levels for another session. As had been widely expected, the Federal Reserve said on Wednesday that it was going to begin slowing the pace of purchases in its crisis-era asset purchase program starting this month. This had been one of the primary tools helping to underpin the economic recovery and financial markets over the course of the pandemic.
Investors have been upbeat recently, and that’s shown up in the performance of the Nasdaq Composite (NASDAQINDEX:^IXIC). Despite lagging behind other benchmarks that rose to record highs last week, the Nasdaq has been able to move higher, and as of 6:30 a.m. EDT, Nasdaq futures were up 31 points to 15,372.
This week, five key Nasdaq stocks, including four of the fabled FAANG stocks, will report earnings. The results that Facebook (NASDAQ:FB), Microsoft (NASDAQ:MSFT), Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG) post could help determine whether the bull market will continue or whether concerns about