‘Just call it what it is’: BofA’s Stephen Suttmeier declares a bear market
Bank of America-Merrill Lynch sees stocks struggling through the first half of 2019. Stephen Suttmeier, the firm’s chief equity technical strategist, is building his case with two S&P 500 charts. They suggest stocks are in the throes of a bear...
Treasury Secretary Mnuchin moves to quell firestorm, says Trump never suggested firing Fed Chairman
President Donald Trump is adamantly opposed to the Federal Reserve’s rate hike campaign, but has never suggested firing Fed Chairman Jerome Powell, Treasury Secretary Steven Mnuchin said on Saturday, moving to defuse a controversy that could roil global markets even...
Wall Street’s view on Trump’s talk of firing Fed Chair Jerome Powell: ‘Utter madness’
President Donald Trump’s growing dissatisfaction with Federal Reserve Chairman Jerome Powell could be veering into dangerous territory: Late Friday, Bloomberg News, citing four unnamed sources, reported that Trump has discussed firing the central bank head. With the Fed embarked on...
Trump reportedly wants to fire the Fed chair, a move that could wreak havoc on the financial markets
President Donald Trump wants to fire Federal Reserve Chairman Jerome Powell for raising interest rates, according to a report, an unprecedented action by a president against the independent body, that could undermine confidence in the U.S. financial system already under...
Stocks enter final full week of the year on the brink of a bear market
Stocks head into the final full trading week of the year on the brink of a bear market. The Dow Jones Industrial Average plummeted in the past week in its worst performance since before the bull market began, in the...
‘I’m stunned’ by all the recession talk — Mohamed El-Erian warns against self-fulfilling prophecies
Economist Mohamed El-Erian is warning Wall Street that being overly concerned about an economic recession could actually cause one. “I’m stunned by all this talk of recession,” El-Erian said on CNBC’s “Squawk Box” on Friday. “For us to get into...
NY Fed President John Williams says the Fed could re-evaluate view in 2019
Federal Reserve Bank of New York President John Williams told CNBC on Friday the Fed is open to reconsidering its views on rate hikes next year. “We are listening, there are risks to that outlook that maybe the economy will...
US third-quarter economic growth revised down to 3.4%
The U.S. economy slowed in the third quarter a bit more than previously estimated, but the pace was likely strong enough to keep growth on track to hit the Trump administration’s 3 percent target this year, even as momentum appears...
US durable goods orders rose 0.8% in November, led by defense spending
Orders to U.S. factories for long-lasting goods rose at a modest pace last month, but the gain was driven entirely by demand for military aircraft. Excluding transportation equipment, orders fell. The Commerce Department said Friday that durable goods orders rose...
China’s stocks are set for a rocky start to 2019
Chinese stocks took a beating this year, but a recovery may not come until the second half of 2019, experts say. The Shanghai composite and main Shenzhen index are down more than 20 and 30 percent, respectively, this year. That...
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