One corner of the Treasury market is worried the U.S. government could default this fall, even though many strategists believe Congress will raise the debt ceiling just in time. The Treasury bill that comes due in October has been selling off, and is currently yielding more than the bills that mature in September and November, […]
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The U.S. exchange-traded fund that tracks South Korean stocks erased its gains from Tuesday’s session on a report that North Korea can now fit nuclear weapons into missiles. The iShares MSCI South Korea capped ETF (EWY) was trading 0.1 percent higher before the news broke. At 1:31 p.m. in New York, it traded at 0.36 […]
Read moreThe financial markets are acting really wacky right now. There are some very strange divergences going on. Here are just two that really stick out: 1) The Dow has been a monster in the past couple of weeks, but everything else is flat to down. You can blame this on the way the Dow is […]
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DoubleLine Capital CEO and Chief Investment Officer Jeffrey Gundlach predicts bond yields will rise and lead to market volatility. “One of the things that I follow to give a really good short-term cyclical indication of the yield of the 10-year Treasury is the ratio of copper to gold,” Gundlach said Tuesday on CNBC’s “Halftime Report.” […]
Read moreJPMorgan Chase CEO Jamie Dimon stopped short of saying the bond market is on the cusp of a collapse, but said he wouldn’t personally buy any long-term government debt. “I’m not going to call it a bubble, but I personally wouldn’t be buying a 10-year sovereign debt anywhere in the world,” he told CNBC on […]
Read moreBank of America Merrill Lynch strategists are expressing an increasingly common sentiment on Wall Street — still on board the stock market train but increasingly skeptical about what’s fueling the run. In that environment, BofAML recommends high-quality bonds and financial stocks as outperformers. “Investors may be well served by locking in some profits in U.S. […]
Read moreJefferies reined in expectations for back-to-school sales after its consumer survey showed a ‘marked shift’ in customer intentions to buy apparel this fall. Jefferies surveyed over 500 consumers to gauge shopping intentions for the 2017 back to school season and concluded that department stores and specialty apparel are set for the most cutbacks. “Respondents anticipate […]
Read moreIf it seems that the Dow keeps posting record highs and strings of positive trading days, that’s because it is. The Dow Jones industrial average has climbed for 10 straight days through Monday, for its second winning streak of 10 days or longer this year (after its 12-day win streak in February). That means that […]
Read moreMorgan Stanley upgraded Foot Locker to overweight from underweight Tuesday, saying the shoe retailer has an edge over Amazon.com in the high-end market. “We believe Foot Locker can withstand the challenge from Amazon,” Jay Sole, equity analyst, and Edward Ryan, research associate, said in a Tuesday note. They have a 12-month $65 price target on […]
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There’s a new top bull on Tesla. Argus Research’s Bill Selesky slapped a $444 target on the share price and upgraded Telsa to a buy from a hold. The price target is by far the most aggressive on Wall Street, according to FactSet. It’s also 25 percent higher than Monday’s closing price of $355. Tesla […]
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