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Wall Street

This tag is associated with 82 posts

1 Feb 2020 (CNBC online) – Dow plummets 600 points in worst day since August as coronavirus fears grow

(31 January 2020, CNBC online, Fred Imbert) ‘Stocks fell sharply on Friday, wiping out the Dow Jones Industrial Average’s gain for January, as investors grew increasingly worried about the potential economic impact of China’s fast-spreading coronavirus. The Dow dropped 603.41 points, or 2.1%, to 28,256.03 in the 30-stock average’s worst day since August. The S&P … Continue reading

25 Jan 2020 (AFR) – Global markets swoon as lethal China virus spreads

(25 January 2020, AFR, p12, David J. Lynch) ‘Washington | Wall Street stumbled on Thursday (Friday AEDT) amid fears that efforts to curtail the lethal coronavirus in China could further disrupt the global economy. The Dow fell nearly 200 points before recovering to close at 29,160.09, down 26 points for the day, following China’s decision … Continue reading

30 Oct 2019 (TheAge) – The ‘not so bad’ alarm: Wall Street hits a record but remains vulnerable

(30 October 2019, The Age, Business, p23, Stephen Bartholomeusz) ‘The US sharemarket hit another record on Monday. The obvious question is why? The answer might appear somewhat convoluted. The market isn’t being driven by good news but by the bad news not being quite as bad as once feared. That’s a suspect underpinning for a … Continue reading

12 Oct 2019 (WSJ) – Stocks Climb on U.S.-China Trade Talk Progress

(12 October 2019 (AEST), Wall Street Journal online, By Gunjan Banerji) ‘U.S. stocks soared Friday on progress in the trade talks between the U.S. and China, helping the S&P 500 break a three-week losing streak. Major stock indexes jumped as President Trump offered an upbeat assessment of trade talks and the U.S. said it had … Continue reading

16 Aug 2019 (AFR) – Big US investors use summer sell-off to ramp up bets

(16 August 2019, AFR, p29, David Randall and Jennifer Ablan) ‘New York | The summer sell-off is finally here – and not all US investors are rattled by it. After a record-setting first half of the year that pushed US stock markets to new highs, a more than 760-point drop in the Dow Jones Industrial … Continue reading

16 Aug 2019 (AFR) – Yield inversion floods Wall St with recession fears

(16 August 2019, AFR, p12, Jacob Greber, United States Correspondent) ‘Washington | Mayhem returned to the world’s biggest and most important financial market as the first benchmark yield inversion since 2007 triggered storm warnings and fears the US economy is headed towards slower growth or even recession. Evidence is mounting for US investors that fallout … Continue reading

5 Aug 2019 (AFR) – Wall Street stocks fall most since December, bonds gain

(5 August 2019, AFR, p21, Jonathan Shapiro) ‘Wall Street’s main sharemarket indices registered the largest weekly falls of the year while bond rates plunged the most in seven years, after a dramatic week of central bank disappointments, unexpected trade war tweets and solid jobs data. On Friday, July US non-farm payrolls showed a solid gain … Continue reading

23 March 2019 (WSJ) – Stocks, Bond Yields Fall Amid Anxiety Over World Economy

(23 March 2019 EST, Wall Street Journal online, by Akane Otani and Georgi Kantchev) ‘Global stocks and bond yields slumped Friday as weak manufacturing data deepened investors’ anxiety about the health of the world economy.’ Read more at WSJ.com

27 Feb 2019 (AFR) – Wall St surge puts even the bulls on notice

(27 February 2019, AFR, p25, Timothy Moore) ‘Enthusiasm has lifted the S&P 500 so far and so fast — nearly 20 per cent from its Christmas Eve low — that even bulls are starting to wave red flags. In a morning note, Morgan Stanley US chief equity strategist Michael Wilson said the surge in equity … Continue reading

26 Feb 2019 (AFR) – Societe Generale’s Albert Edwards says markets are ‘stoned on free money’

(26 February 2019, AFR, p33, by Timothy Moore) ‘For Societe Generale’s uber-bear Albert Edwards, investors are “stoned on free money” and as a result, they’ve become numb to what he sees as the signs of an approaching recession. What triggered Mr Edwards’ latest concerns is the United States Federal Reserve’s response to the US stockmarket’s … Continue reading

16 Jan 2019 (TheAge) – ASX climbs to two-month high

(16 January 2019, The Age, Business, p28, by William McInnes & Natasha Gillezeau) ‘Australian shares advanced to the highest level since November 13, ending two days of losses for the local market as positive sentiment returned. The S&P/ASX 200 Index rose 41.2 points, or 0.7 per cent, to 5814.6 while the broader All Ordinaries climbed … Continue reading

2 Jan 2019 (TheAge) – Wall Street finishes worst year since 2008 with gains

(2 January 2019, TheAge, Business, p24, by Stephen Culp) ‘Wall Street advanced in low-volume trading on Monday as revelers gathered to ring in 2019, marking the end of the worst year for US stocks since 2008, the height of the financial crisis. Wall Street entered correction territory in late January and was challenged for much … Continue reading

28 Dec 2018 (TheAge,SMH) – Australian stocks soar after historic Wall St lift

(28 December 2018, AFR, p23, by William McInnes) ‘Australian shares soared on Thursday, the first session for local stocks since the Christmas holiday, lifting on the back of a historic night on Wall Street. The S&P/ASX 200 Index rose 103.4 points, or 1.9 per cent to 5597.2 points, its best performance since November 2016, as … Continue reading

28 Dec 2018 (AFR) online) – US stocks end in positive territory after retracing early plunge

(28 December 2018, AFR online, by Timothy Moore) ‘US stocks closed higher, extending the previous day’s record point-setting leap, after the Dow Jones Industrial Average rallied more than 830 points in the final 90 minutes. It was a wild day. The Dow shed more than 500 points in the first hour, and was down as … Continue reading

28 Dec 2018 (AFR) – Wall Street’s epic rally is not how sharemarket ride ends

(28 December 2018, AFR, p37, by Vesna Poljak) ‘President Donald Trump’s Plunge Protection Team didn’t have to do a thing. A sensational rally on Wall Street sparked by the President’s assurance that the chairman of the Federal Reserve’s job is safe, and Amazon’s declaration of successful holiday sales, was enough to save the S&P 500 … Continue reading

28 Dec 2018 (AFR) – Back from dead or dying gasp? Giant rally gets bulls’ blood racing

(28 December 2018, AFR, p11, by: Sarah Ponczek, Vildana Hajric and Elena Popina) ‘New York | Bludgeoned for weeks, a bull market is left for dead, its fate seemingly sealed as session after session of red ink show no sign of letting up. Suddenly, at the last second, a rally – death is averted – … Continue reading

27 Dec 2018 (AFR online) – Donald Trump’s barometer flashes red as S&P 500 Index loses 16pc this year

(27 December 2018, AFR online, by Nir Kaissar) ‘The stock market is calling the White House to account, and it won’t be easily distracted. The S&P 500 Index tumbled 15.8 per cent from its recent high on September 20 through Wednesday. On Monday, the index was down almost 20 per cent – a decline that … Continue reading

27 Dec 2018 (AFR) – Consumer stocks lift ASX to best session in two years

(27 December 2018, AFR, online, by William McInnes) ‘Australian shares soared on Thursday, the first session for local stocks since the Christmas holiday, lifting on the back of a historic night on Wall Street. The S&P/ASX 200 Index rose 103.4 points, or 1.9 per cent to 5597.2 points, its best performance since November 2016, as … Continue reading

27 Dec 2018 (TheAge) – Wall Street surges in best rally since March 2009; oil soars

(27 December 2018, The Age, online, by: Vildana Hajric & Jeremy Herron) ‘Dead cat bounce or phoenix rising from the ashes?’ ‘Wall Street staged one of the biggest rallies of the 9½-year bull market after coming within points of seeing it end, with major indexes surging at least 4.9 per cent. Crude jumped almost 10 … Continue reading

26 Dec 2018 (TheAge) – US stocks endure worst Christmas Eve on record

(26 December 2018, The Age, p25, by Elena Popina) ‘Not even the truncated Christmas Eve session could halt the US market rout that’s gripped investors for three months. The S&P 500 plunged almost 3 per cent to end at a 20-month low, in what was the worst final session before the Christmas holiday on record … Continue reading

21 Dec 2018 (AFR) – Fed’s Jerome Powell denies Donald Trump and investors their easy money

(21 December 2018, AFR, p30, by Jacob Greber) ‘Washington | He might be the loudest, but Donald Trump isn’t the only tantrum-prone Fed watcher. Investors seem to be suffering the same malaise. The immediate reaction to the latest US Federal Reserve rate increase – the ninth since late 2015 – appears to have been consternation … Continue reading

8 Dec 2018 (CNBC online) – Dow tumbles more than 500 points, wipes out gain for the year to cap wild week on Wall Street

(8 December 2018, CNBC online, Fred Imbert) ‘Stocks dropped sharply on Friday, concluding what has been a wild week for Wall Street. A weaker-than-expected jobs report and China-U.S. trade tensions sent the Dow Jones Industrial Average lower by 558.72 points to 24,388.95 and erased its gains for the year. At one point, the Dow was … Continue reading

6 Dec 2018 (AFR) – Market euphoria evaporates as ‘I’m a tariff man’ Trump casts Xi-deal doubts

(6 December 2018, AFR, p29, By Jacob Greber) ‘Washington | Hopes that last weekend’s deal between Donald Trump and Xi Jinping would stabilise markets have been shattered, with equities tanking across the board on scepticism about the deal itself and a bond market flashing a warning about the outlook for economic growth. Major stock indexes … Continue reading

22 Nov 2018 (AFR) – Wall Street’s slow motion crash continues with no end in sight

(22 November 2018, AFR, p26, by Jacob Greber) ‘Washington | Wall Street’s slow-motion stock rout – which is about to enter its eighth week – deepened on renewed jitters about trade, economic growth and tightening Fed policy, triggering the White House to insist there is no prospect of a recession on the horizon. Undermining hopes of a … Continue reading

10 Nov 2018 (CNBC) – Dow drops 200 points on worries about slowing global economic growth

(10 November 2018, CNBC, Fred Imbert ) ‘Stocks fell on Friday as further losses in oil prices sparked fears of a global economic slowdown, but the major indexes still managed solid weekly gains. The Dow Jones Industrial Average fell 203 points as losses in Caterpillar and Goldman Sachs offset gains from Disney. The S&P 500 … Continue reading

25 Oct 2018 (AFR) – Sell-off gathers pace on Wall Street – Stock churn returns as tariff ‘canaries’ rage

(25 October 2018, AFR, p14, by Jacob Greber) ‘Washington | The S&P 500 closed lower for the 12th day out of the last 14 after one of the world’s biggest industrial companies issued storm warnings for earnings because of rising tariff costs and renewed fears that tightening monetary policy will crimp the US economy’s expansion. … Continue reading

5 Oct 2018 (AFR) – Companies are furiously guiding down Wall Street’s estimates

(5 October 2018, AFR, p29, by Lu Wang) ‘On the bull market villains list, it’s public enemy No. 1: peak earnings. At what point does the profit bubble pop? Ever since Caterpillar mentioned a “high water mark” in growth, Wall Street has been on alert. To date, the worries have been unfounded. Earnings soared 24 … Continue reading

20 Sept 2018 (AFR) – Wall Street’s enduring bonuses jar as GFC recovery eludes many

(20 September 2018, AFR, p33, Lex Column, Financial Times) ‘Americans who resent Wall Street are not just angry towards the people who helped crash the economy a decade ago. They are also annoyed by the ability of finance professionals to benefit from a recovery that eludes others. The Office of the New York State Comptroller … Continue reading

11 Sept 2018 (AFR) – In a global financial crisis, sometimes you don’t tell the whole story

(11 September 2018, AFR, p29, by John Authers) ‘It is time to admit that I once deliberately withheld important information from readers. It was 10 years ago, the financial crisis was at its worst, and I think I did the right thing. But a decade on from the 2008 crisis (our front pages from the … Continue reading

5 Sept 2018 (AFR) – Wall Street has Wile E Coyote moment as it floats over abyss – How long can the US stock market defy the rest of the world?

(5 September 2018, AFR, p13, by Jacob Greber) ‘Washington | Trade wars, an export-sapping US dollar surge, rising US interest rates, and worsening turmoil in Argentina and Turkey may as well be on another planet as far as US equity investors are concerned. As a superlative-busting northern summer rally extends into autumn, US stock market … Continue reading