Stocks broke out to new highs last week, led by technology and cyclicals like financials and cruise ships. The S&P 500 rose 1.1 percent between Friday, October 4, and Friday, October 11. It was the fifth straight positive...
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Inflation Fades, Earnings Beat and Stocks Push Higher
Stocks keep pushing higher as inflation fades and earnings beat expectations. The S&P 500 rose 0.8 percent between Friday, April 7, and Friday, April 14. It was the fourth gain in the last five weeks. Several data points suggested further slowing of inflation, the...
Profits Could Jump How Much This Earnings Season?
Earnings season begins today with Goldman Sachs and JPMorgan Chase. It could feature the strongest profit growth in half a generation. Analysts on average forecast a profit increase of 64 percent for the S&P 500, according to FactSet. While that sounds impressive,...
Bitcoin Regains Trillion Dollar Status as the ETF Story Keeps Developing
A Bitcoin ETF. It hasn't happened yet, but the story won't go away. Grayscale Investments announced yesterday it wants to hire nine employees with expertise in exchange-traded funds (ETFs). The posts included a compliance officer and a specialist in creating and...
Banks Including JPMorgan and Citi Pull Back as Earnings Season Begins
Traders are taking profits in the banks as earnings season begins. JPMorgan Chase (JPM), Citi (C) and Wells Fargo (WFC) announced quarterly results today. While their numbers were mixed, their price action wasn't. All three had rallied into the reports as investors...
Pfizer’s Coronavirus Vaccine Is Shaking Up the Stock Market. Here Are Key 4 Changes
Stocks jumped to new highs this week thanks to Pfizer's coronavirus vaccine, but it's also causing major changes in the market. After all, investors have had certain assumptions for months: People would stay home and avoided public places. Millions would remain out of...
Bitcoin on Pace for Highest Close in Almost 3 Years as JPMorgan Joins the Crypto Club
Jamie Dimon has been a major player at the Federal Reserve and run two of the country's biggest banks. Now he's the latest to jump on the cryptocurrency bandwagon. CNBC reported this morning that Dimon's bank, JPMorgan Chase (JPM), has started using its digital...
Banks Are Still Hurting as the Coronavirus Pandemic Drags On: Earnings This Week
Major banks kicked off earnings season much as the market expected -- still struggling with the coronavirus recession. JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C) and Wells Fargo (WFC) reported third-quarter results this week. JPM and C beat estimates...
Big Shifts Could Be Happening as the Stock Market Keeps Climbing a Wall of Worry
Stocks began August on a strong footing, with some potentially big changes happening in the market. The S&P 500 rose 2.5 percent between Friday, July 31, and Friday, August 7. The index has now retraced its entire decline since the coronavirus selloff began in...