Market is Price

[unable to retrieve full-text content] When Do Markets Close? 24-Hour Stock Trading Push Spooks Wall Street    Bloomberg from "market" - Google News https://ift.tt/841nKPp via IFTTT

Investors are bracing for a potential shakeup in the presidential race following President Joe Biden’s prime-time debate stumble last week. The concern: an unknown quantity atop the Democratic ticket should Biden bow out amid intense pressure from mega-donors and rank-and-file members of Congress. "It’s very difficult to avoid the fact that President Biden no longer seems viable in this election," 22V Research’s Kim Wallace told me Friday on Morning Brief (video above). "The way forward is contentious for Democrats. Realistically, there is absolutely no way to do this smoothly, but they have work to do and they know it." For investors who have watched the S&P 500 surge 15% this year, AGF Investments’ Greg Valliere warns a new candidate on the ticket could signal "volatility, instability, you name it" for a market in rally mode. Potential candidates floated to Yahoo Finance by sources include California Gov. Gavin Newsom, Michigan Gov. Gretchen W...

Talk to enough Wall Street executives and you come away with something very unsettling: No one knows what’s going to happen with markets and, by extension, the economy — and it’s scary.  I know what you’re saying, these guys never really know what’s going on or they would have seen the 2007-08 financial crisis months before it happened. Truth be told, they did see it coming, but most were too terrified to say anything about it, while others, like hedge funders, didn’t want to draw attention to their market bets.  No, this time is different. Market prognostications are all over the place because of huge policymaking mistakes: spending, money printing and more that screw with their normal analytical tools. The politics and policies of two presidential candidates add even more confusion.  In other words, it’s not a great time to be an economic forecaster, or for that matter an investor or consumer or American worker trying to prepare for the future. And we can thank...

Real Estate The US housing market has entered bizarro world Matthew Fox 2024-06-29T12:16:02Z Angle down icon An icon in the shape of an angle pointing down. The US housing market is twisting the most basic principle of economics: supply and demand. C.J. Burton/Getty Images The US housing market is distorting a core principal of economics: supply and demand.  Home prices soared to record highs in May, even as existing home sales fell and supply of homes for sale jumped. "This one is a real head-scratcher," economist David Rosenberg said. The US housing market has officially entered bizzaro world. The law of supply and demand is a basic principle of any free market, and right now, it's being subverted by strange happenings in the real estate market. The supply of homes for sale is rising while demand for homes is falling. And yet housing prices continue to hit record highs. "When it comes to the housing market, the laws of su...

[unable to retrieve full-text content] Even a Slowly Cooling Labor Market Often Ends With a Recession    The Wall Street Journal from "market" - Google News https://ift.tt/fu12Djp via IFTTT

New York CNN  —  Help may not be on the way for first-time homebuyers frustrated by high mortgage rates and even higher home prices. Economists at Bank of America warned this week that the US housing market is “stuck and we are not convinced it will become unstuck” until 2026 — or later. The bank said home prices will stay high and go even higher. The housing shortage will persist. And mortgage rates may not fall much — even if the Federal Reserve finally delivers long-delayed interest rate cuts. “This will take many years to work itself out. There isn’t a magic fix,” Michael Gapen, head of US economics at Bank of America, told CNN in a phone interview. “The message for first-time homebuyers is one of patience and frustration.” Housing affordability is a major problem in America. Home prices spiked during Covid-19 and then the Fed’s war on inflation sent mortgage rates surging. The one-two punch has made it a historically unaffordable time to buy a home. “It’s been ...

London CNN  —  President Joe Biden had a shaky performance in last night’s presidential debate, triggering panic in the Democrat camp. Former President Donald Trump, meanwhile, repeated multiple falsehoods while doubling down on his record of cutting taxes and hiking tariffs during his first presidential term. If repeated in a second Trump term, many economists fear that kind of agenda could stoke inflation at a critical moment and add to America’s rapidly growing debt mountain. Markets barely blinked. What’s happening: US stocks were higher in pre-market trading on Friday and CNN’s Fear & Greed index remained in neutral territory for a second consecutive day as investors shrugged off a contentious presidential debate that dominated the news cycle. Investors instead opted to focus on inflation — the Federal Reserve’s preferred measure, the Personal Consumption Expenditures (PCE) price index is due Friday — and the end of a strong first half of the trading y...

My top 10 things to watch Friday, June 28 The S & P 500 and Nasdaq are on track for their fourth-straight session of gains Friday after the Federal Reserve's preferred inflation gauge showed that inflation cooled in May. Entering the final trading day of the second quarter, the S & P 500 has climbed 15% year to date while the tech-heavy Nasdaq has advanced 19%. The laggard Dow is up just 3.8%. The core PCE index in May rose 2.6% year over year, matching Wall Street estimates and representing the lowest annual increase since March 2021. In April, the inflation measure rose 2.8% annually. The CME FedWatch tool still indicates that the market expects the Fed to make its first rate cut during this inflation-fighting campaign in September. The Fed's post-June meeting projections were for one cut by the end of the year. Nike disaster. What is going on here? The Dow stock sank more than 15% after the company missed on quarterly revenue and forecast a much larger than expected...

[unable to retrieve full-text content] You Might Be Buying Your House at the Top of the Market    The Wall Street Journal from "market" - Google News https://ift.tt/kUVw0P3 via IFTTT

This is The Takeaway from today's Morning Brief, which you can sign up to receive in your inbox every morning along with: The major indexes may have only chalked small gains Wednesday, but while the generals were sleeping, the soldiers were on the march. At the vanguard, moderate losses in large-cap energy and financials were offset by outsized gains in the consumer discretionary sector — thanks principally to Amazon ( AMZN ) and Tesla ( TSLA ). This seesaw theme has become a subtle but important market narrative. On days when AI isn't leading the charge, select pockets of strength keep the S&P 500 from more pronounced sell-offs — which itself is holding index volatility near multiyear lows. The recent "plunge" in Nvidia is instructive. Only Monday, the AI poster child closed down 13% from its record high. Surveying social media, you would think Wall Street was burning. But during that harrowing three-day slump, a funny thing happened: The Dow Jones Indust...

[unable to retrieve full-text content] Dow Jones Falls; Tesla Rival Rivian Soars 30% On Volkswagen Investment    Investor's Business Daily from "market" - Google News https://ift.tt/uP1imvX via IFTTT

Traders work on the floor of the New York Stock Exchange. NYSE The S&P 500 eked out a small gain Wednesday as investors evaluated their holdings following a booming first half of the year led by artificial intelligence plays. The broad market index ended the day up 8.60 points, or 0.16%, to close at 5,477.90. The Dow Jones Industrial Average added 15.64 points, or 0.04%, to end at 39,127.80. Meanwhile, the tech-heavy Nasdaq Composite added 87.50 points, or 0.49%, to finish at 17,805.16. The Nasdaq is set for a 18.6% first-half gain because of a big run in Nvidia. After trading lower for much of the day, the chipmaker closed up around 0.3%. It was a modest move after Tuesday's 7% climb. The AI chipmaker's $3.1 trillion market value has come to dominate the cap-weighted S&P 500, and its 150% surge in 2024 has sparked concerns that most other stocks are failing to participate in this year's rally. Shares of Amazon jumped 3.9%, leading the Nasdaq's up...

CryptoSlam data shows a significant volume drop for NFTs from Q1 to Q2, with digital collectibles set to hit the lowest monthly transactions since March 2021. News Own this piece of crypto history Collect this article as NFT Join us on social networks The sales volume for non-fungible tokens (NFTs) dropped by 45% quarter-on-quarter in 2024 as the Bitcoin market shows a downward momentum.  CryptoSlam data showed that in the first quarter of 2024, NFTs had a total sales volume of $4.1 billion, maintaining the upward momentum it gained from the fourth quarter of 2023. In Q4 2023, NFTs recorded a volume of $2.9 billion. The downward momentum comes amid analysts predicting a negative outlook for Bitcoin ( BTC ), one of the key leaders in the NFT space. Downward momentum for NFTs Despite experiencing an upward trend in Q1, NFT sales volumes saw a significant decline in the second quarter of 2024. Digital collectibles recorded a quarterly volume of $2.24 billion, m...