One of the co-founders of asset manager Grantham, Mayo, Van Otterloo & Co. (GMO) has made a dire warning to investors, predicting that the stock market is currently in the midst of an unsustainable bubble that may leave many investors caught with their pants down. In an interview with Bloomberg, Jeremy Grantham, GMO’s chief investment strategist…
Jeremy Grantham Warns ‘Super Bubble’ in Stock Market Has Yet to Burst
Australian Stocks Plunge 2.6 Percent
The local stock exchange has dropped sharply, tumbling along with markets around the world after a worse-than-expected US inflation report raised the prospect of even more aggressive rate hikes in the world’s largest economy. The benchmark S&P/ASX200 dropped 184 points in the first 10 minutes of trading on Wednesday and more or less treaded water…
How major US stock indexes fared Wednesday Sept. 14, 2022
September 14, 2022
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Stocks closed modestly higher on Wall Street after a day of veering between gains and losses. The tentative trading came a day after the market’s worst drop in two years, which was set off by fears that higher interest rates could cause a recession. The S&P 500 added 0.3 percent Wednesday. The Dow Jones Industrial…
Ark’s Cathie Wood Calls Fed Hikes a Mistake and Prepares for Deflation
September 14, 2022
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NEW YORK—Star stock picker Cathie Wood of Ark Invest cautioned that the Federal Reserve is making a mistake with its widely-expected interest rate hikes to bring down high inflation and said she is more concerned about deflation. The benchmark S&P 500 fell more than 2 percent and Treasury yields surged Tuesday after data showed consumer…
Yen Jumps Versus Dollar After BOJ Rate Check, Hints on Intervention, US PPI Data
NEW YORK/LONDON—The yen was up more than 1 percent against the dollar on Wednesday after the Bank of Japan conducted a rate check in possible preparation for currency intervention, with the Japanese currency strengthening more in the wake of U.S. producer prices data. In a rate check, central bank officials call up dealers and ask…
Oil Rises 2 Percent on Supply Concerns, Expectations for Fuel Switching
September 14, 2022
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NEW YORK—Oil rose about 2 percent on Wednesday, rebounding from the previous day’s lows, as an international energy watchdog expects an increase in gas-to-oil switching due to high prices this winter, even though the outlook for demand remains gloomy. Brent crude futures rose by $1.86 a barrel, or 2 percent, to $95.03 by 11:58 a.m….
August Inflation Should Scare Democrats
September 14, 2022
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Commentary August headline inflation printed at double the market expectation (+0.1 percent predicted vs. -0.1 actual), or 8.3 percent for the 12 months through August, unadjusted. On Sept. 13, the Dow Jones Industrial Average closed down more than 1,270 points, or nearly 4 percent. The benchmark S&P 500 Index fell more than 4 percent and…
World Shares Fall, Tracking Wall Street Dismay Over Price Data
September 14, 2022
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World markets slipped Wednesday after Wall Street fell the most since June 2020 as a report showed inflation has kept a surprisingly strong grip on the U.S. economy. European benchmarks were marginally lower while Asia saw bigger losses. U.S. futures edged higher, with the contracts for the Dow industrials and the S&P 500 up 0.3…
Australian Stock Exchange Rises Again in Fourth Day of Gains
The local share market has closed higher for a fourth straight day, finishing above the 7000 level for the first time in two and a half weeks ahead of another monthly report on U.S. inflation. The benchmark S&P/ASX200 index on Tuesday closed up 45.2 points, or 0.65 per cent, to 7009.7. The broader All Ordinaries…
How Major US Stock Indexes Fared Tuesday Sept. 13, 2022
The stock market fell the most since June 2020 following Wall Street’s humbling realization that inflation is not slowing as much as hoped. The Dow lost more than 1,250 points and the S&P 500 sank 4.3 percent. A hotter-than-expected report on inflation Tuesday has traders bracing for the Federal Reserve to ultimately raise interest rates…
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