The world's largest asset manager blamed the demotion on the growing threat of a ...
The world's largest asset manager blamed the demotion on the growing threat of a Fed-induced recession.
The central bank has been walking a precarious line between trying to tame inflation and avoiding a recession. BlackRock, which has roughly $10 trillion under management, demoted US stocks to "neutral" on Monday.
"The Fed's hawkish pivot has raised the risk that markets see rates staying in restrictive territory. The year-to-date selloff partly reflects this, yet we see no clear catalyst for a rebound," BlackRock said.
MarketWatch: Dow finishes up over 600 points; S&P 500 rises 1.9% as financials rally
All three major stock benchmarks ended sharply higher Monday, kicking off the week with...
All three major stock benchmarks ended sharply higher Monday, kicking off the week with gains as shares in the financials sector jumped. The Dow Jones Industrial Average DJIA, +1.98% closed up almost 619 points, or about 2%, while the S&P 500 SPX, +1.86% climbed around 1.9% and the Nasdaq Composite COMP, +1.59% rose about 1.6%, according to preliminary FactSet data. The financials sector booked the biggest gains in the S&P 500 index, rising around 3.2% Monday, as Wall Street banks JPMorgan Chase & Co. JPM, +6.19% and Citigroup Inc. C, +6.07% each jumped around 6%, preliminary FactSet data show.
Gas prices: ‘July and August are going to be sizzling months,’ analyst says
Gas prices hit record highs this week, as consumers are grappling with soaring inflation. With oil prices...
Gas prices hit record highs this week, as consumers are grappling with soaring inflation. With oil prices hovering around $112 per barrel, drivers are unlikely to see much relief at the pump for now.
The continuation of the Russian invasion of Ukraine is expected to keep oil prices high. “May is usually when the futures market in gasoline tends to peak," Tom Kloza, OPIS head of energy analysis, told Yahoo Finance
“I think we’re looking at higher prices in the next week or so, and then maybe a little moderation before July — but July and August are going to be sizzling months,” Kloza added.
An estimated 38 million Americans sweltered under weekend heat advisories,...
An estimated 38 million Americans sweltered under weekend heat advisories, with elevated temperatures stretching from Texas to New England. The heat approached 100 degrees in some places, with a number of daily records falling Saturday.
Austin, Texas, hit 100 degrees Saturday, beating the daily record of 99 degrees set in 1939. Richmond, Virginia, hit 95 degrees (93 degrees, 1966), Philadelphia, Pennsylvania, reached 97 degrees (95 degrees, 1934), and Montpelier, Vermont, notched its first 90 degree recording for the day. For New York City and Boston, it marked the earliest in the calendar year a heat advisory had gone into effect since at least 2006. The high temperatures are expected to subside beginning today.
Meanwhile, a winter stormpummeled Colorado early Saturday, dropping more than 12 inches of snow in some locations and knocking out power to more than 66,000 customers in Denver.
A judge with the Dane County, Wis., Circuit Court has affirmed the lawfulness of a permit granted to...
A judge with the Dane County, Wis., Circuit Court has affirmed the lawfulness of a permit granted to build a planned $700 million combined-cycle natural-gas energy plant in an industrial area of Superior. The 625-megawatt Nemadji Trail Energy Center was contested by environmentalists concerned over air and water issues, and other challenges remain before work can begin
