The stock market is in a bottoming process, and that could mean ...
The stock market is in a bottoming process, and that could mean indexes rally in early 2023 as the Fed readies a pivot, according to Stifel.
The investment firm forecasted that the S&P 500 will surge 17% by the first quarter of next year, as a Fed pause gives markets a boost after a persistent sell-off. Such a move by the central bank would be data-dependent, though, and Powell and co. would need to see real signs that their efforts are paying off.
A persistent decline in inflation figures should be what they're looking for to show that it's time to pause rate hikes, the Stifel analysts noted. Stifel still anticipates a recession in the third quarter of next year — but that's not until after stocks make considerable gains.
JPMorgan Chase CEO Jamie Dimon confirms that the ESG agenda is hurting the American economy and that MORE oil and natural gas production is needed: pic.twitter.com/16DLzHr0Td
Tropical Depression 9 forms in Caribbean, could impact Florida
Tropical Depression 9 formed Friday morning and could impact Florida by next week. The tropical disturbance...
Tropical Depression 9 formed Friday morning and could impact Florida by next week. The tropical disturbance is forecast to develop into a hurricane by this weekend. The storm could be near western Cuba by early next week.
The forecast models for TD9 currently have the system moving toward the west coast of Florida or South Florida.
Benchmark U.S. crude oilfor November delivery rose 55 cents to $83.49 a barrel Thursday. Brent crude for November delivery rose 63 cents to $90.46 a barrel.
Wholesale gasoline for October delivery rose 3 cents to $2.52 a gallon. October heating oil rose 8 cents to $3.41 a gallon. October natural gas fell 69 cents to $7.09 per 1,000 cubic feet.
U.S. stocks end lower as Treasury yields surge after Fed rate hike
U.S. stocks ended lower Thursday, adding to sharp declines suffered...
U.S. stocks ended lower Thursday, adding to sharp declines suffered the previous session after the Federal Reserve delivered a 75 basis point rate hike and signaled significant further tightening ahead.A number of other major central banks, including the Swiss National Bank and the Bank of England, delivered rate hikes on Thursday as investors fret that monetary tightening will lead to a sharp economic slowdown or recession. The Dow Jones Industrial Average DJIA, -0.35% fell around 108 points, or 0.4%, to finish near 30,076, according to preliminary figures. The S&P 500 SPX, -0.84% ended 0.8% lower near 3,758, while the Nasdaq Composite COMP, -1.37% slumped 1.4% to close near 11,067.
