The stock market has been soaring for most of this year, with much of the gains due to excitement surrounding artificial intelligence. Nvidia’s stock alone is up more than 200 percent this year. Many investors are comparing what’s happening now to the dot-com bubble of the early 2000s. But it is really a bubble this…
A.I. Hype Similar to 1999, But Be Careful Calling it a Bubble: Investor
Stocks Discount Too Much Easing and Optimism
Commentary The S&P 500 Index has risen to a new high, and close to its record level. Complacency seems to be taking hold of market participants because the latest leg up has been driven entirely by multiple expansion. According to Bloomberg, the price-to-earnings (P/E) ratio of the S&P 500 has erupted back to 19.2 times,…
China Is Still What It Used to Be
June 8, 2023
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Commentary The recent China data often shocked the market, foreigners, and local analysts. Sometimes it was a fight between the official and private data sources like PMI; sometimes, it was a mismatch between domestic and foreign sources like trade data. A few years ago, China data were well-known to be fake: Whatever number the government…
Stock Market Today: Wall Street Sinks as Bank Fears Flare
NEW YORK—Stocks sank on Wall Street Thursday as worries cranked higher about a cracking U.S. banking system. The S&P 500 fell 0.7 percent to add to its loss for the week so far. The Dow Jones Industrial Average dropped 286 points, or 0.9 percent, and is now down for the year, while the Nasdaq composite…
Shell’s Profits Hit $9.6 Billion Despite ‘Volatile Market’
British energy giant Shell has published its first-quarter profits, reporting adjusted earnings of $9.6 billion. The company achieved the results despite an “unfavourable” tax climate and “lower realised oil and gas prices.” Shell announced on May 4 that its numbers are $500 million higher than the same period last year. The company’s adjusted earnings for…
Stock Market Today: Markets Slip After Latest Fed Rate Hike
NEW YORK—Stocks dipped Wednesday after the Federal Reserve announced its latest hike to interest rates but said it’s not sure what may come next. The S&P 500 fell 28.83, or 0.7 percent, to 4,090.75. The Dow Jones Industrial Average lost 270.29, or 0.8 percent, to 33,414.24, and the Nasdaq composite slipped 55.18, or 0.5 percent,…
UK Housing Market Sees ‘Signs of a Recovery’ After 7 Consecutive Falls
April saw a 0.5 percent rise in house prices in Britain, in the first surge since August 2022. However, financial experts have argued that Britons should expect a “fairly pedestrian” upturn in the housing market, if any, owing to the ongoing imbalance between low wages and rising inflation. Nationwide Building Society, a British mutual financial…
Stock Market Today: Stocks Stay Steady After Bank Failure
NEW YORK—The latest historic U.S. banking failure made few waves in markets, and stocks drifted Monday as Wall Street braces for what it hopes will be the last hike to interest rates for a long time. The S&P 500 was virtually unchanged after regulators seized First Republic Bank and sold off most of it in…
Extremely Rare Vintage Facel Vega Car Sitting in Garage for 50 Years Is Worth a Fortune: ‘An Absolute Gem’
April 17, 2023
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A rare Facel Vega HK500 car that has been rusting in a garage for almost 50 years is set to sell for tens of thousands of pounds. The right-hand drive classic motor is thought to be only one of 96 models that were made for the UK market. Originally finished in Brunswick blue with grey…
Firefighters Battle Large Blaze at Sprawling Mexican Market
MEXICO CITY—Some 200 firefighters battled a huge blaze in Mexico City’s sprawling wholesale market Thursday night without any reported injuries. The Central de Abasto supplies the capital’s other neighborhood markets, restaurants, and other parts of the country. Mexico City Mayor Claudia Sheinbaum said the fire started in an area of the market where wooden pallets…
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