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Here’s Why a $4.7 Trillion Record ‘Wall of Cash’ Won’t Power the Stock Market to New HeightsJun 26, 2020 - 07:08:45 PDT
“You’re about to hear a giant sucking sound,” he said, who expects further outflows in the next few weeks.
"This was the kitchen sink thrown left, right and centre from central banks across the globe. But what's next is super relevant because clearly there is a limit to how much markets can rise without a more structural, longer lasting recovery path in the economy,"...
Data continue to show a rapid economic recovery isn’t likely. Here’s a look at this week’s winners and losers.
Canada became the latest country to be stripped of a prized 'triple A' sovereign credit rating after Fitch downgraded it on Wednesday.
Wall Street was set to open slightly lower on Friday as bank stocks fell following the Federal Reserve's move to cap shareholder payouts and the United States set a new record for a one-day increase in coronavirus cases.
Gold staged a solid rally and finally broke above a key resistance level this week. The yellow metal hit an 8-year high on Wednesday and continues to hold above $1,750 an ounce. Meanwhile, we're suddenly starting to see some mainstream bullishness for gold. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the economic dynamics in play and highlights some of the mainstream attention suddenly being showered on the yellow metal.
Gold prices edged up on Friday en route to a third straight weekly gain, as a spike in coronavirus cases dashed hopes of a quick economic recovery.
The Fate of the Market Comeback in the Second Half May Be Determined by CongressJun 26, 2020 - 05:30:10 PDT
The next headwind for Wall Street could come straight from Washington, as Congress moves toward its next fiscal package to help the economy recover.
In recessions, lots of bad things happen to the labor market. Unemployment rises sharply.
Wage gains level off. And the number of open jobs plummets. All of which leads to dimmer prospects for those both employed and unemployed.
The euro gained on Friday and is set for its biggest weekly rise in three weeks after the European Central Bank reaffirmed its dovish stance in the minutes of its policy meeting while the dollar struggled at U.S. coronavirus infections surged.
European Central Bank President Christine Lagarde said the recovery from the coronavirus pandemic will be “restrained” and will change parts of the economy permanently.
One debate is about a special drawing right allocation, perhaps under $650bn so as not to require US Congressional approval. Whether for or against, there is recognition an allocation would only provide modest support to emerging markets in easing budget constraints.
The euro gained against the dollar on Friday after the European Central Bank released minutes from its June 4 meeting.
U.S. Federal Reserve chair Jerome Powell will testify before the U.S. House of Representatives Financial Services Committee on Tuesday at 12:30 p.m. EDT (1630 GMT), the Fed announced on Thursday.
Congressional Watchdog Finds ‘Significant Risk’ for Fraud in Paycheck Protection ProgramJun 26, 2020 - 05:08:45 PDT
The Government Accountability Office found the Paycheck Protection Program faces "significant risk" for fraud -- and the Small Business Administration is failing to provide critical information for oversight.
"Historic Decline" Seen In April World Trade Volumes As V Shaped Narrative ImplodesJun 26, 2020 - 05:02:23 PDT
"Exports fell back significantly in several regions..."
Banks could be under pressure Friday after the Federal Reserve's stress test set off some warning flares. Matt Maley takes to the charts to determine where banks head next.
Data from staffing firms that track hourly employees show that job growth may have stagnated or even declined in recent weeks.
Coronavirus Mortgage Bailouts Suddenly Swell as Homeowners Face New StrugglesJun 26, 2020 - 04:49:06 PDT
After declining for three weeks, the number of borrowers delaying their monthly mortgage payments due to the coronavirus rose sharply.
The coronavirus has infected more than 9.62 million people around the world as of Friday, killing at least 489,731 people.