House Speaker Nancy Pelosi’s husband sold call options in chipmakers Micron Technology and Nvidia for a loss of under $1 million, according to a new transparency filing. In a periodic transaction report dated Friday, the senior Democrat disclosed that her husband, financier Paul Pelosi, lost $392,575 in the sale of Micron call options he had…
How Major US Stock Indexes Fared Monday Oct. 17, 2022
Stocks closed sharply higher on Wall Street, marking the latest about-face for a market that has been unsteadily lurching between gains and losses in recent weeks. The S&P 500 jumped 2.6 percent Monday, more than recovering the ground it lost in a sell-off on Friday. The Dow added 1.9 percent and the Nasdaq climbed 3.4…
Stocks Rally on Wall Street in Latest Volatile Move
Wall Street kicked off a busy week of corporate earnings with a broad rally Monday, the latest about-face for a market that has been unsteadily lurching between gains and losses in recent weeks. The S&P 500 climbed 2.6 percent, more than recovering the ground it lost in a sell-off Friday. The Dow Jones Industrial Average…
Lufthansa Raises 2022 Profit Outlook on Strong Demand for Air Travel
BERLIN—Lufthansa raised its forecast for full-year adjusted operating profit to over 1 billion euros ($980.40 million) on Monday, boosted by strong demand for air travel that continued its post-COVID recovery. The company previously expected adjusted operating profit (EBIT) of more than 500 million euros. Preliminary results for the third-quarter indicated that the airline almost doubled…
Wall Street Opens Higher as BofA Gains on Earnings Beat
Wall Street’s main indexes opened higher on Monday, following better-than-expected results from Bank of America that were underpinned by the Federal Reserve’s rapid rate hikes. The Dow Jones Industrial Average rose 424.8 points, or 1.43 percent, at the open to 30,059.58. The S&P 500 rose 55.6 points, or 1.55 percent, at the open to 3,638.65,…
Sterling Edges Up on UK Fiscal Policy U-turn; Yen Struggles
SINGAPORE—Sterling inched cautiously higher following British Prime Minister Liz Truss’s partial reversal of her government’s economic plan, while the yen was pinned near a 32-year low as markets awaited signs of intervention from Japanese authorities. The pound gained 0.42 percent to $1.1225, after Truss said on Friday that Britain’s corporation tax will rise to 25…
Oil Steady as Recession Fears Counter Positive Chinese Signals
October 17, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were steady on Monday as China’s continuation of loose monetary policy was offset by fears that high inflation and energy costs could drag the global economy into recession. Brent crude futures rose 17 cents, or 0.2 percent, to $91.80 a barrel by 0915 GMT, recovering from a 6.4 percent fall last week. U.S….
Global Shares Mostly Higher as Markets Eye China Meeting
October 17, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global shares were mostly higher Monday as investors kept their eyes on a weeklong Communist Party congress in China. France’s CAC 40 added 0.5 percent in early trading to 5,961.27. Germany’s DAX gained 0.5 percent to 12,498.72. Britain’s FTSE 100 rose 0.5 percent to 6,894.84. The future for the Dow industrials was up 0.7 percent,…
The Savings Game: Taking RMDs in stock
By Elliot Raphaelson From Tribune Content Agency IRA expert Ed Slott (irahelp.com), in a recent article, discussed an option for required minimum distributions (RMDs) that most investors are not aware of. When investors see the value of their equities fall, they don’t like selling shares in order to take required minimum distributions. Slott pointed out…
Jamie Dimon Sees ‘Easy 20 Percent’ Drop in Stocks but Warns It Could Be Worse
October 14, 2022
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JPMorgan Chase CEO Jamie Dimon commented that it was unlikely that the Federal Reserve would be able to slow the economy without causing a “tough” recession. Dimon spoke at a financial industry conference in Washington on Oct. 13 where he made his prediction. He said that Wall Street could suffer another “easy 20 percent” drop, plunging the…
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