The S&P 500 and Nasdaq fell on Wednesday as Target’s dour sales forecast due to changing shopping pattern amid rising prices unleashed fresh worries for retailers heading into the crucial holiday season. Target Corp tumbled as much as 16.9% as a pullback in consumer spending despite heavy discounting also hurt its third-quarter profit, which missed … Read more
Nov 8: US stock indexes rose for the third straight session on Tuesday as voting began in the crucial midterm election that will determine control of Congress, with investors hoping for a political gridlock that could prevent radical policy changes. All 435 House of Representatives seats and 35 Senate seats are on the ballot. Nonpartisan … Read more
New York: Wall Street stocks ended decisively lower Friday to conclude another difficult week defined by worries over inflation and the worsening Russia-Ukraine conflict. A closely-watched measure of US inflation released Friday showed the annual pace of price increases slowed slightly in August compared with the prior month. However, the inflation rate still exceeded analyst … Read more
Wall Street’s main indexes slipped at the open on Tuesday as a dismal forecast from Micron Technology dragged chip stocks lower, while investors remained cautious ahead of inflation data that will feed into the U.S. Federal Reserve‘s rate-hike plans. The Dow Jones Industrial Average fell 25.18 points, or 0.08%, at the open to 32,807.36. The … Read more
Markets across the globe took a hammering on Thursday after the US Federal Reserve raised its key interest rate by 75 basis points, the highest since 1994. Historical data however show markets have recovered over three to six months after the rate increases. Since 2015, the Fed has increased interest rates 11 times, excluding the … Read more
US stock indexes dropped on Monday, with the S&P 500 on course to confirm a correction as the prospect of a Russian attack on Ukraine posed as a double whammy for investors already worried about aggressive policy tightening by the Federal Reserve. A correction is confirmed when an index closes 10 per cent or more … Read more
NEW YORK: COVID-19 has resurfaced as a worry for investors and a potential driver of big market moves after a new variant triggered alarm, long after the threat had receded in Wall Street‘s eyes. Worries about a new strain of the virus, named Omicron and classified by the World Health Organisation as a variant of … Read more
By Nathaniel Bullard One of the oldest components of the Dow Jones Industrial Average disappeared from the popular market benchmark at the end of August. ExxonMobil Corp., a member since 1928 (when it was Standard Oil of New Jersey) and the world’s most valuable company as recently as 2011, had fallen in value over recent … Read more