Despite falling for much of the year, the U.S. stock market might decline even further rather than recover due to elevated inflation rates, according to a note by a Bank of America (BofA) strategist. Warning that the “inflation shock ain’t over,” strategist Michael Hartnett highlighted that past bear markets show the average peak-to-trough declines of…
Stocks Heading to New Lows as Inflation ‘Ain’t Over’: Bank of America
September 17, 2022
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How Major US Stock Indexes Fared Friday Sept. 16, 2022
Stocks fell broadly on Wall Street, leaving the market with another week of sizable losses, as a stark warning from FedEx about rapidly worsening trends in the economy gave investors more to worry about. The S&P 500 fell 0.7 percent Friday. The Nasdaq lost almost 1 percent and the Dow lost almost half a percent….
What Are Stocks Worth? A Review After 7 Months
September 16, 2022
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Business & MarketsBusiness ColumnistsinflationInvestmentMarketsOpinionrecessionS&P 500stocksUSViewpoints
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Commentary Earlier this year, my Epoch Times article of Feb. 5 attempted to estimate the underlying value of stocks and determine the extent to which stocks were over- or undervalued and by how much. In February, the S&P 500 Index was at 4,500. With the corporate bond rate of 3 percent, my analysis showed the fundamental value of the…
What Are Stocks Worth? A Review After Seven Months
September 16, 2022
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Business & MarketsBusiness ColumnistsinflationInvestmentMarketsOpinionrecessionS&P 500stocksUSViewpoints
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Commentary Earlier this year, my Epoch Times article of Feb. 5 attempted to estimate the underlying value of stocks and determine the extent to which stocks were over- or undervalued and by how much. In February, the S&P 500 Index was at 4,500. With the corporate bond rate of 3 percent, my analysis showed the fundamental value of the…
S&P 500 Falls Below 3,900 on Global Slowdown Fears
The benchmark S&P 500 fell below the 3,900 mark at the open on Friday, breaching a level that traders considered as a key support, after a profit warning from delivery firm FedEx spooked investors already concerned about aggressive rate hikes. The benchmark index is now 5.8 percent above its mid-June closing low as a summer…
Dollar Heads for Another Strong Week, Yuan Weakens Past Key Level
LONDON—The dollar rallied again on Friday, as U.S. Treasury yields rose ahead of a potentially huge Federal Reserve interest rate hike next week, while China’s yuan weakened past the psychologically important threshold of 7 per dollar. The dollar, measured against a basket of currencies, is headed for a near 1 percent rise this week, as…
Stocks Fall, Indexes Slip Deeper Into the Red for the Week
Stocks gave up more ground Thursday, leaving major indexes on Wall Street deeper in the red for the week. The S&P 500 fell 1.1 percent after another wobbly day of trading. The benchmark index is now down 4.1 percent for the week following the biggest pullback for the market in more than two years on…
How Major US Stock Indexes Fared Thursday Sept. 15, 2022
September 15, 2022
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Stocks closed lower on Wall Street, putting major indexes deeper in the red for the week. The S&P 500 fell 1.1 percent on Thursday. The benchmark index is down for the week following the biggest pullback for the market in more than two years on Tuesday. Railroad operators were mostly higher after a tentative labor…
Brent Crude Falls 3 Percent on Demand Concerns, Strong Dollar
September 15, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Brent crude oil fell 3 percent on Thursday as expectations of weaker demand and a strong U.S. dollar ahead of a potentially large interest rate increase outweighed supply concerns. The International Energy Agency said this week oil demand growth would grind to a halt in the fourth quarter. The dollar held near recent peaks, supported…
Wall Street Opens Lower, Railroads Climb as Strike Averted
NEW YORK—Stocks are opening moderately lower on Wall Street, leaving major indexes well in the red for the week following the biggest pullback for the market in more than two years on Tuesday. Railroad operators were mostly higher after a tentative labor agreement was reached, averting a strike across the country that could have been…
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