Good Friday, a religious day of observance for Catholics and Christians, is not a federal holiday but some business operations are closed for the day. Good Friday comes ahead of Easter celebrations and is one of five Christian celebrations that commemorate the crucifixion and resurrection of Jesus Christ on Easter Sunday. Although it’s observed by…
The US House of Representatives has followed the Senate in voting to overturn a Consumer Financial Protection Bureau rule that would give the watchdog oversight of tech giants such as Apple, Google and X, that offer digital payment apps and wallets. Editorial This content has been selected, created and edited by the Finextra editorial team…
The outlook for the stock market is becoming increasingly uncertain, thanks largely to the potential impact of an escalating global trade war. Strategists at Goldman Sachs on Sunday night slashed their forecast for the S&P 500 for the second time this year, lowering targets for the benchmark index’s return to -5% in the coming three months and…
Investors who think a recession is in the cards this year should brace for a double-digit correction to rattle the stock market, according to Bank of America. Strategists at the bank said they see the S&P 500 potentially dropping to as low as 5,000 in the event unemployment rises and the economy tips into a downturn….
Things could be turning around for the mega-cap Magnificent Seven stocks, and a reversal of their recent downtrend bodes well for US stocks as a whole. The group of high-flying tech names — Meta, Microsoft, Nvidia, Apple, Alphabet, Amazon, and Tesla — has had a brutal start to the year, with Meta the only member…
Global fund managers dumped a record amount of US stock during last week’s sell-off, BofA found. The surveyed investors expressed pessimism around the global economic-growth picture. Stagflation was a commonly-cited fear, with expectations for the scenario at the highest since late 2023. As US stocks slipped into a 10% correction last week, investors were dumping…
Stocks have been crushed in recent weeks, but Wall Street forecasters think the worst may be over. Morgan Stanley and Citi said they saw 5,500 as the floor for the S&P 500. Both banks are sticking to their year-end price target of 6,500, implying about 15% upside. The worst of the stock market sell-off looks…
Recession fears persist amid inflation and trade wars President Donald Trump did not rule out the possibility of a recession in a recent Fox News interview, amid his administration’s continuing trade war. The “R” word, recession, suddenly has become a hot topic, as more Americans wonder if tariffs and other pressures might push the economy…
Morgan Stanley’s CIO said bond yields had surpassed levels that support high stock valuations. Investors should focus on a select few sectors in the market, Mike Wilson says. The bank said it favored key sectors with strong earnings, like financials and media. The bond market is sending investors a clear signal about where to invest…
Bank of America warns of a bubble in US growth stocks echoing the “Nifty Fifty” and “dot-com” eras. Concentration in US stocks is significantly above historical norms, BofA said. Investors should consider diversifying and focusing on quality stocks to mitigate risks, BofA said. If you listen closely enough, amid all the investors cheering on AI,…