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  • Stock-market investors want the Fed to answer this crucial question when it meets this week

    Stock-market investors want the Fed to answer this crucial question when it meets this week

    Multiple risks are raising the stakes in financial markets and for the U.S. economy as Federal Reserve policy makers prepare to gather this week.The Fed is widely expected to deliver a quarter-of-a-percentage point interest rate hike when its meeting concludes on Wednesday. The most crucial question facing investors is whether policy makers subsequently show a willingness to hold off on further rate rises in order to assess the damage from their year-long campaign to lower inflation.

    If they do pause, it may be time for investors…

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  • Americans’ personal savings just hit $1 trillion. What’s the best place to store your cash — I-bonds, CDs or online savings accounts?

    Americans’ personal savings just hit $1 trillion. What’s the best place to store your cash — I-bonds, CDs or online savings accounts?

    People are saving more these days. Where’s the best place to put your cash?

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  • Stocks end higher Friday, Dow books best month since January

    Stocks end higher Friday, Dow books best month since January

    U.S. stocks ended April higher on Friday, with the Dow Jones Industrial Average booking its best monthly gain since January. Despite renewed focus on stress in the U.S. banking system, major stock indexes were able to post gains on Friday to end the week and month on higher ground, in part as earnings reports from several big technology companies, including Meta Platforms Inc. META were received positively by investors. The Dow DJIA rose about 272 points Friday, or 0.8%, ending near 34,098, according to preliminary FactSet levels. The S&P 500 index SPX posted a 0.8% gain, while the Nasdaq Composite Index COMP advanced…

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  • Analyst sees market betting on First Republic bailout as early as Friday

    Analyst sees market betting on First Republic bailout as early as Friday

    Odeon Capital analyst Richard Bove said the steep slide in First Republic Bank FRC stock on Friday is partly attributed to investor sentiment that the Federal Deposit Insurance Corp. will take over the ailing bank after the closing bell on Friday. “The stock is going to down toward zero because if the FDIC takes over a bank, they do it on a Friday afternoon after the market closes,” Bove said. “The market clearly believes that’s what’s going to happen today.” The FDIC typically acts on a Friday afternoon to give itself time to open the bank up for business on Monday. At last check, First Republic stock was down 37% to…

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  • Meme stock TOP Financial Group soars more than 890%, spurred on by the Reddit crowd

    Meme stock TOP Financial Group soars more than 890%, spurred on by the Reddit crowd

    The stock of TOP Financial Group Ltd., a Hong Kong-based broker that went public last year, soared more than 890% Friday to a fresh record high with no apparent news to drive the move.

    Volume of 2.4 million shares traded in the first two hours of trading far exceeded the average daily volume of 872,000 over the last 65 days. The stock TOP was halted for volatility several times in early trade.

    TOP…

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  • What is a credit-default swap? Debt-ceiling jitters put obscure instrument back in spotlight.

    What is a credit-default swap? Debt-ceiling jitters put obscure instrument back in spotlight.

    It’s usually not a good sign when obscure financial instruments are making headlines. And that’s the case now as the political standoff over the U.S. government’s debt ceiling puts credit-default swaps back in the spotlight.

    How CDS work

    Credit-default swaps, or CDS, are instruments that effectively allow a lender to insure against default by a borrower. An investor who owns a corporate bond, bank credits or government debt, can buy CDS to protect against default. Speculators can also use CDS to place bets, though…

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  • Chicago business activity index less negative in April

    Chicago business activity index less negative in April

    The Chicago Business Barometer, also known as the Chicago PMI, rose 4.8 index points to 48.6 in April.

    Economists polled by the Wall Street Journal forecast a decline to a 43.8 reading. 

    This is the eighth straight reading below the 50 threshold that indicates contraction territory.

    The index is produced by the ISM-Chicago with MNI. It is released to subscribers three minutes before its release to the public at 9:45 am Eastern. It is the last of the regional manufacturing indices before the national ISM data for April is released on Monday.

    So far, the regional data suggest a modest improvement this month in the manufacturing ISM. In March, the ISM factory index fell to 46.3% from 47.7% in the prior month. It was the fourth month in contraction territory.

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  • Meme stock TOP Financial Group soars more than 890%, spurred on by the Reddit crowd

    Meme stock TOP Financial Group soars more than 890%, spurred on by the Reddit crowd

    The stock of TOP Financial Group Ltd., a Hong Kong-based broker that went public last year, soared more than 890% Friday to a fresh record high with no apparent news to drive the move.

    Volume of 5.5 million shares traded by early afternoon far exceeded the average daily volume of 872,000 over the last 65 days. The stock TOP was halted for volatility multiple times during the session.

    The…

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  • Inflation slows again, PCE shows, as the economy

    Inflation slows again, PCE shows, as the economy

    The numbers: The cost of goods and services rose a scant 0.1% in March and the yearly rate of inflation slowed again in response to higher interest rates and a cooler economy.

    The increase in the so-called personal consumption expenditures index matched the Wall Street forecast. The PCE index is the Federal Reserve’s preferred inflation barometer.

    The…

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  • Amazon stock turns around as CFO admits AWS growth rates are declining further

    Amazon stock turns around as CFO admits AWS growth rates are declining further

    Amazon.com Inc. shares zoomed higher in extended trading Thursday after the company posted its biggest quarterly profit since 2021, but shares turned around after the company’s chief financial officer said in a conference call that cloud revenue is decelerating in the current quarter.

    Amazon AMZN reported that first-quarter revenue grew to $127.4 billion from $116.44 billion in the same quarter last year. Profit reached $3.17 billion, or 31 cents a share, improving from a loss of 38 cents a share a year ago, which was Amazon’s…

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  • Snap stock sinks nearly 20% on revenue miss

    Snap stock sinks nearly 20% on revenue miss

    Snap Inc.’s stock plunged more than 18% in extended trading Thursday after the social-media company reported a decline in revenue as it retools its ad platform.

    Revenue dropped 7% to $988.6 million, from $1.06 billion a year ago. Analysts surveyed by FactSet had expected on average a net loss of a penny a share on revenue of $1 billion.

    Sales…

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  • Intel tops Wall Street estimates, CEO says data-center business is improving

    Intel tops Wall Street estimates, CEO says data-center business is improving

    A previous version of this article included an inaccurate number for Intel’s second-quarter profit forecast. It has been updated.

    Intel Corp. shares surged in the extended session Thursday, swinging from an initial loss after the chip maker topped Wall Street estimates for the quarter, and Chief Executive Pat Gelsinger assured analysts that the company’s data-center business was improving.

    Intel…

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  • Amazon stock gives up gains as CFO admits AWS growth rates are declining further

    Amazon stock gives up gains as CFO admits AWS growth rates are declining further

    Amazon.com Inc. shares zoomed higher in extended trading Thursday after the company posted its biggest quarterly profit since 2021, but shares turned around after the company’s chief financial officer said in a conference call that cloud revenue is decelerating in the current quarter.

    Amazon AMZN shares jumped more than 10% in after-hours trading immediately following the release of first-quarter results, but those gains disappeared after Chief Financial Officer Brian Olsavsky said in a conference call with analysts that…

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  • Dow, S&P 500 score biggest daily gain since January as Meta, tech earnings embolden bulls

    Dow, S&P 500 score biggest daily gain since January as Meta, tech earnings embolden bulls

    Major U.S. stock indexes posted big gains on Thursday as Meta and other major technology companies embolden bullish investors with better earnings results than anticipated. The Dow Jones Industrial Average DJIA rose about 524 points, or 1.6%, ending near 33,826, while the S&P 500 index SPX gained 2%, according to preliminary FactSet figures. That marked the best daily percentage gains for both since Jan. 6, according to Dow Jones Market Data. The Nasdaq Composite Index COMP led the charge higher Thursday, jumping 2.4%, its best daily advance since Feb. 2. Meta Platforms Inc.’s META said Wednesday that the company’s profit…

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  • U.S. stocks head for best day in 2 weeks on strong earnings from Meta and other big-tech names

    U.S. stocks head for best day in 2 weeks on strong earnings from Meta and other big-tech names

    U.S. stocks rose on Thursday, on track for their biggest gain in two weeks, as another batch of strong big-tech earnings reports helped boost the broader market while offsetting signs of slowing economic growth.

    How are stocks trading

    On Wednesday, the Dow Jones Industrial Average fell 229 points, or 0.68%, to 33,302 as worries about First Republic Bank FRC overshadowed upbeat big-tech earnings.

    What’s driving markets

    For…

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  • Deutsche Boerse Makes Offer for SimCorp

    Deutsche Boerse Makes Offer for SimCorp

    By Sarah Sloat

    Deutsche Boerse SE said Thursday it would make a voluntary takeover offer for Danish software company SimCorp AS for a total 3.9 billion euros ($4.31 billion).

    The all-cash offer of DKK735 ($108.86) per share represents a 38.9% premium over the closing price of DKK529, and a 45.3% premium over the three-month volume-weighted…

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  • House passes debt-ceiling bill, aiming to spark negotiations with Biden

    House passes debt-ceiling bill, aiming to spark negotiations with Biden

    The Republican-run House of Representatives approved a debt-ceiling bill in a 217-215 vote on Wednesday evening, marking one step in a process that’s getting closely watched by traders worried about a possible U.S. default.

    The bill, dubbed the Limit, Save, Grow Act, aims to raise the limit on federal borrowing for a year while also cutting spending. President Joe Biden and his fellow Democrats have said the lift should be made without spending cuts or other conditions, but House Speaker Kevin McCarthy and his fellow Republicans…

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  • Meta stock jumps toward highest price in a year as Facebook parent predicts renewed revenue growth

    Meta stock jumps toward highest price in a year as Facebook parent predicts renewed revenue growth

    Meta Platforms Inc.’s stock soared more than 10% higher in extended trading Wednesday after the social networking company’s profit declined less than expected in the first three months of 2023, and a revenue forecast pointed toward reinvigorated sales growth.

    Facebook’s parent company META racked up fiscal first-quarter net earnings of $5.71 billion, or $2.20 a share, compared with earnings of $2.72 a share in the year-ago quarter. Revenue gained less than 3% to $28.65 billion from $27.91 billion a year ago.

    Analysts…

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  • Roku stock gains after earnings beat, though ad market remains challenging

    Roku stock gains after earnings beat, though ad market remains challenging

    Roku Inc. shares moved 2% higher in Wednesday’s after-hours action as the streaming-media company cited continued ad-market pressures but topped expectations for its latest quarter.

    The company reported a first-quarter net loss of $193.6 million, or $1.38 a share, compared with a loss of $26.3 million, or 19 cents a share, in the year-earlier quarter. Analysts tracked by FactSet were expecting a $1.47 loss per share.

    Roku…

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  • Fed ‘accident’ could slice 20% off the S&P 500, stock market strategist David Rosenberg warns. Here are 3 ways to protect your money now.

    Fed ‘accident’ could slice 20% off the S&P 500, stock market strategist David Rosenberg warns. Here are 3 ways to protect your money now.

    David Rosenberg honestly doesn’t want to be bearish on stocks or bash the Federal Reserve. The veteran market strategist will get no satisfaction if he’s right about Americans having to slog through recession and consequently endure deflation, job losses and a wallop to the stock market.

    “As I play the role of economic detective, I can see the smoking gun,” says Rosenberg, a former chief North American economist at Merrill Lynch and now president of Toronto-based Rosenberg Research.

    Who’s…

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