S&P 500 ends higher, led by defensive shares

Fed’s Collins sees 75 bps hike on the table Grindr surges into market debut Gap shares rise on upbeat results Indexes up: Dow 0.59%, S&P 0.48%, Nasdaq 0.01% Nov 18 (Reuters) – Wall Street’s benchmark S&P 500 index ended higher on Friday in a choppy trading session, as gains in defensive shares overshadowed energy declines, … Read more

Fed’s Barr: Concerned about blowback to financial system from crypto

Nov 15 (Reuters) – Michael Barr, the Federal Reserve’s top financial regulatory official, said on Tuesday he is concerned about risks from the non-bank sector, including cryptocurrencies, for which the US central bank and other regulators have poor visibility. “We’re concerned about the risks that we don’t know about in the non-bank sector,” Barr said … Read more

Fed will create ‘real pain’ as it ‘breaks’ the economy in 2023 – Lobo Tiggre

The Fed raised its benchmark rate on Wednesday by 75 bps, a move that was accompanied by hawkish rhetoric from Fed Chairman Jerome Powell. As the Fed continues to raise rates and weaken demand, this will “break” markets, said Lobo Tiggre, editor of TheIndependentSpeculator.com. “I’ll be very surprised if we get too far into 2023 … Read more

Wall St down for fourth straight day on Fed rate hike worry

US initial weekly jobless claims fall Services industry growth slows Qualcomm, Roku slump on weak forecasts Dow down 0.46%, S&P 500 down 1.06%, Nasdaq down 1.73% NEW YORK, Nov 3 (Reuters) – US stocks closed lower for a fourth consecutive session on Thursday as economic data did little to alter expectations the Federal Reserve would … Read more

US Fed Set for Further Steep Rate Hike as Recession Fears Loom

The US Federal Reserve is pegged to make a fourth straight steep hike in the key interest rate this week as it battles surging costs, with its aggressive stance fueling expectations of a recession. American households have been squeezed by soaring consumer prices, propelling economic issues to the top spot among voter concerns in upcoming … Read more

Another jumbo Fed rate hike is expected next week — and then life gets difficult for Powell

First the easy part. Economists widely expect Federal Reserve monetary-policy makers to approve a fourth straight jumbo interest-rate rise at its meeting next week. A hike of three-quarters of a percentage point would bring the central bank’s benchmark rate to a level of 3.75%-4%. “The November decision is a lock. Well, I would be floored … Read more

Why the housing market should brace for double-digit mortgage rates in 2023

Even if Federal Reserve Chairman Jerome Powell and his cohorts stopped hiking policy rates soon, the 30-year fixed mortgage rate still would climb to 10%, according to Christopher Whalen, chairman of Whalen Global Advisors. That’s because the Fed’s torrid pace of rate increases in 2022 takes time to seep back into mortgage rates, especially with … Read more

Fed says firms gloomier on outlook, but inflation pressures easing

Oct 19 (Reuters) – US economic activity expanded modestly in recent weeks, although it was flat in some regions and declined in a couple of others, the Federal Reserve said on Wednesday in a report that showed firms growing more pessimistic about the outlook. Moreover, the US central bank’s latest collection of anecdotes from contacts … Read more

100% probability of US recession in coming year, according to Bloomberg Economics forecast model

The US economy falling into recession within the next 12 months is a virtual certainty, according to the latest Bloomberg Economics forecast model released on Monday. The dire projection surfaced just weeks before national midterm elections that will determine control of Congress. Just a week ago, President Joe Biden said a recession in the US … Read more

Gold price drops nearly $90 from October highs, Wall Street turns exceedingly bearish on precious metal

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – The short-term outlook on gold remains bleak, with analysts turning overwhelmingly bearish on the precious metal as the $1,650 an … Read more