Wall Street Archives - Page 2 of 5

Wall Street turns positive on Exxon after a brutal year. But some experts warn it could get much worse

February 5, 2021

CNBC U.S. oil giant Exxon Mobil endured a dreadful year by virtually every measure in 2020. The Irving, Texas-based company reported four consecutive quarters of losses, incurred the biggest write-down in its modern history, laid off thousands of employees, saw its market value plunge more than 40% and was dropped from the blue-chip Dow Jones Industrial Average. CEO Darren Woods has since said the last 12 months “presented

Bond market watching for ongoing Fed reassurance on purchases

January 27, 2021

Fox Business The U.S. bond market will be watching for ongoing reassurance from the U.S. Federal Reserve that it will maintain its bond purchases for the foreseeable future – or risk a disorderly rise in yields. Yields spiked to 10-month highs this month after Democrats won control of the U.S. Senate, increasing bets on higher fiscal spending, rising inflation and possibly a faster economic

Risk of a major correction is ‘really low,’ economic forecaster Lakshman Achuthan says

January 22, 2021

CNBC The stock market may avoid a major near-term correction, according to economic forecaster Lakshman Achuthan. Achuthan, co-founder of the Economic Cycle Research Institute, told CNBC’s “Trading Nation” on Thursday that the risk a pullback of at least 10% is “really low” because the U.S. is in expansion mode. “The cycle is on the side of the bulls for the

Morgan Stanley beats estimates on better-than-expected Wall Street and wealth management results

January 20, 2021

CNBC Morgan Stanley on Wednesday posted fourth-quarter profit and revenue that exceeded analysts’ expectations on strong trading, investment banking and wealth management results. The firm reported a 51% increase in profit to $3.39 billion, or $1.81 per share. When excluding $189 million in integration costs tied to last year’s E-Trade acquisition, profit was $1.92 per share, compared with the $1.27

Stock market seeing coronavirus relief, vaccine, divided government: Former NYSE CEO

December 4, 2020

Fox Business Former New York Stock Exchange Chairman Dick Grasso weighed in on the market’s recent records on Thursday telling “Cavuto: Coast to Coast,” he thinks Wall Street is factoring in a coronavirus vaccine, more fiscal relief and a divided government. “What the market is saying is, ‘We’re looking to a COVID relief package before the Congress goes out, we’re looking to very effective vaccination program, looking to a divided government,’ hopefully as a result of

Oil prices rise as market awaits output deal

December 2, 2020

Reuters LONDON – Oil prices rose on Wednesday as the market awaited a pact from producers on output, which many traders expect will continue to be reined in, and Britain’s approval of a COVID-19 vaccine gave hopes for a demand recovery a boost. Prices were hit earlier by a surprise build in oil inventories in the United States and as

Wall Street retreats, S&P 500 still set for best November ever

November 30, 2020

Reuters Wall Street stocks fell on Monday as investors took profits after a sharp rally that has put the benchmark S&P 500 index on course for its best November ever. All 11 major S&P 500 sectors fell, with the energy index leading losses with a 3.5% decline, tracking a drop in crude prices. [O/R] Microsoft Corp dipped 1.3% and weighed

Big investors see a great backdrop for stocks as election results roll in

November 5, 2020

CNBC Big-money investors are growing more excited about the stock market as the U.S. election results keep rolling in. CNBC’s Scott Wapner spoke with some major investors who told him we could be on the cusp of a great scenario for stocks as former Vice President Joe Biden leads President Donald Trump and Republicans are expected to keep control of the

Wall Street traders are having a tough time positioning for the election

November 2, 2020

CNBC How is Wall Street positioned for the election? Even Wall Street isn’t sure. For most of October, “buy the stimulus trade” was the main idea on Wall Street. After all, polls showed odds were good for a Biden victory that would likely entail some kind of large-scale stimulus. Investors were buying small-cap stocks, infrastructure plays and alternative energy sectors like

Historical trend suggests election jitters will fade and Wall Street will see a year-end rally – regardless of who wins presidency

October 30, 2020

CNBC CFRA’s Sam Stovall acknowledges the market may feel like a rollercoaster over the next few weeks. But he believes any damage should be contained to November regardless of who wins the presidency. “Investors say ‘okay, usually by then we know who the president is, now we can try to organize our portfolios and our mindsets for the year ahead,’”

Dow extends losses as tech and energy lead drop, oil hits $37 per barrel level

October 28, 2020

Fox Business Stocks extended losses on Wednesday as COVID-19 lockdown fears gripped investors across the globe. Oil slipped nearly 6% to the $37 per barrel level. The Dow Jones Industrial Average dropped over 900 points or 3%, before bouncing off that low, while the Nasdaq Composite and S&P 500 declined more than 3%. Both the S&P 500 and Nasdaq are now negative for the

Wall Street backtracks on ‘gridlock is good’ stance with post-election stimulus at risk

October 20, 2020

Fox Business Investors are having second thoughts about which election outcome may be best for the financial markets, according to JPMorgan. Wall Street, which typically likes gridlock in Congress since it thwarts major regulatory changes, now fears a Democratic and Republican split will delay stimulus efforts the economy badly needs. A Biden victory and Republicans retaining the Senate was previously thought of as

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