The Weekly Market Update is published every Friday, after market close. Is Now the Time to Convert Your Regular IRA to a Roth IRA? A new study lists which jobs in each state are the most common relative to the rest of the country. How Long Will $500,000 in Retirement Savings Last in Your State? It depends on how much you spend, and that depends a lot on where DotBig you live. Oil demand for 2022 is now estimated to rise by 1.8 million bpd year-on-year and settle at 99.7 million bpd, just short of pre-pandemic highs, the bank said. China, the world’s top crude importer, imported 8.79 million barrels per day of crude in July, up from a four-year low in June, but still 9.5% less than a year earlier, customs data showed.
Investors had come to widely believe that the Fed could pivot to cutting interest rates as early as the first half of 2023, given signs of cooling activity across the https://www.mx.com/moneysummit/biggest-banks-by-asset-size-united-states/ economy. That would have been a balm for markets, which have tumbled this year as the Fed has swiftly raised interest rates to combat stubbornly high inflation.
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However, the two-year note yield remains more than 0.40% above the longer-term yield at 3.21% as the inversion in this part of the curve deepens in a widely cited recessionary signal. Last week, shorter-term Treasury yields jumped following a robust jobs report that bolstered expectations for another sizeable Fed rate hike in September. Technology was a notable decliner amid weakness in chipmakers. NVIDIA Corp. https://dotbig.com/ retreated 6.3% following a negative pre-announcement that included a sharp miss in quarterly revenue and disappointing guidance. In other earnings, Tyson Foods Inc. dropped 8.4% after its profit tally fell short of consensus estimates. Meanwhile, in M&A news, Global Blood Therapeutics Inc. has nearly doubled over the past three sessions after officially agreeing to be acquired by Pfizer Inc. for $5.4 billion.
- CNBC announced the tenth annual CNBC Disruptor 50, a ranked list of fast-growing, innovative private startups harnessing breakthrough technology to develop novel business models and inspire change in public incumbents.
- Please note that not all of the investments and services mentioned are available in every state.
- Economists surveyed by Bloomberg forecast the broadest measure of CPI rose by 8.7% in July, a number that would mark a slight cooldown from 9.1% in June.
- Investment Implementation ("II") is a team within Wells Fargo Investment Institute, Inc. .
- A series of inflation reports due out this week could propel or break the market’s summer momentum.
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Below are a list of the least volatile dividend stocks, with a market capitalization of at least $1 billion USD, that are classified as real estate investment trusts. Since the release of the second-quarter advanced GDP estimate, there has been a growing debate about whether or not the U.S. economy is in a recession. A rule of thumb is that two negative GDP quarters indicate a recession. However, the NBER’s Business Cycle Dating Committee uses several criteria DotBig to declare recessions, like trends in payroll employment, personal income, consumer spending and industrial production. Last week’s whopping job gains and fast-rising wages puts the recession question to bed. An economy adding more than 500,000 jobs with a historic low unemployment rate is inconsistent with a recession. The Fed does not have a great track record of tightening just enough to slow inflation without pushing the economy into a recession.
This follows Friday’s session, during which stocks finished mixed as Wall Street assessed the latest monthly jobs data. The Labor Department showed the U.S. economy added 528,000 non-farm payrolls in July, the most since February, and more than double estimates of a 250,000 increase. The unemployment rate ticked down to 3.5%, while average hourly earnings climbed 5.2% year-over-year, matching the prior https://dotbig.com/markets/stocks/ZM/ month’s upwardly revised gain. Stocks traded mostly lower as the update dampened optimism over a central bank policy pivot. Instead, the report bolstered expectations for another ultra-aggressive rate increase in September as it provided evidence of economic resiliency following hawkish Federal Reserve commentary earlier in the week. The S&P 500 slipped 0.2%, eking out a weekly advance of 0.4%.
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Weak demand in U.S. inventories last week encouraged trades based on a weakening outlook. Diesel slipped as well to $5.143 on Monday, down from $5.158 Sunday and $5.169 on Saturday.
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U.S. stocks finished little changed on Monday as weakness in Tech shares weighed on sentiment. Investors also exercised caution ahead of this week’s Consumer Price Index report, as the update should have implications for the path of Federal Reserve rate increases. The S&P 500 slipped 0.1%, erasing an early session https://dotbig.com/ advance of 1%. Both benchmarks just came off their first three-week winning stretch since April. Developments from Washington were also in focus, with the Senate yesterday passing the Inflation Reduction Act, which includes $430 billion in spending to address climate change and extend health care coverage.
Broad inflation pressures suggest that the Fed has more work to do in its inflation fight, while the entire effect of the existing rate hikes has not yet been fully felt in the economy. Restrictive policy drives the unemployment rate higher and corporate earnings lower, in which case the midsummer gains prove to be a bear-market rally, with major indexes heading lower. While possible, we don’t think this is a very likely outcome, as risks to growth still skew to the downside. While the economy contracted for two consecutive quarters, zm stock conditions are not yet consistent with a broad-based decline in activity, as last week’s data showcased. Without any weakness in the labor market, a rise in defaults, or a decline in corporate profits, it is hard to argue that the business cycle has reset and that a new expansion is underway. The Fed is still a ways away from concluding its tightening campaign. Under this scenario the bear market likely ended in June, and the most sensitive to economic growth investments, like small-cap stocks, are ready to assume leadership.
Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Below are a list of the least volatile dividend stocks that are NOT dividend stocks. Here are the biggest declines in the day prior out DotBig of US-listed large cap stocks. Diversification does not guarantee a profit or protect against loss in declining markets. Chinese refiners drew down stocks amid high crude prices and weak domestic margins even as the country’s overall exports gained momentum. The Shanghai Composite Index rose 0.2% to 3,233.07 after China’s July exports beat forecasts.
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