Asia Stocks Set for Muted Start; S&P 500 Climbs: Markets Wrap

Asian stocks were poised for a muted start to July after the strongest quarterly rally since 2009, with investors assessing better-than-estimated U.S. economic data amid concern over new coronavirus cases and fragile trade relations with China. Futures edged up in Japan and dipped in Australia, with Hong Kong closed for a holiday. The S&P 500 […]

U.S. Stocks Move Mostly Higher, Nasdaq Sets New Record Closing High

Stocks moved mostly higher over the course of the trading day on Monday after showing a lack of direction early in the session. The tech-heavy Nasdaq closed higher for the seventh straight session, reaching a new record closing high. The major averages all finished the day firmly in positive territory. While the Nasdaq jumped 110.35 […]

European Stocks Rise as Investors Brush Off Second Wave Risks

European stocks climbed for a second day as investors brushed off the soaring number of coronavirus cases in the U.S. amid the prospect of additional stimulus. The Stoxx Europe 600 Index rose 0.6% as of 8:21 a.m. in London, in a broad rally, with all industry groups aside from banks posting gains. Technology, miners and […]

Pandemic Created Value Disparity Reminiscent of Tech Bubble

The Covid-19 pandemic has punished already cheap value stocks and rewarded growth stocks with even higher premiums, creating a gap not seen since the tech bubble in 2000. During a time of uncertainty, such as the market currently faces, investors usually flock to companies with higher visibility and internal growth, ignoring valuation, while leaving behind […]

U.S. Stocks Turn Higher As Fed Announces Plans To Buy Corporate Bonds

Stocks showed a substantial turnaround over the course of the trading session on Monday after moving sharply lower at the open. The major averages all climbed well off their early lows and firmly in positive territory. The major averages fluctuated going into the close but held on to notable gains. The Dow rose 157.62 points […]

China Investor Buys Record-Cheap Bank Stocks Nobody Else Wants

To most investors, buying shares of Chinese banks seems like a losing strategy this year. Under pressure from the government to sacrifice profits, stung by ultra-low interest rates and parrying the threat of souring loans, China’s biggest listed lenders have seen their shares sink 13% in 2020. They trade at a measly 0.7 times the […]

U.S. Stocks May Regain Ground After Yesterday’s Sell-Off

Following the sell-off seen in the previous session, stocks may move back to the upside in early trading on Friday. The major index futures are currently pointing to a sharply higher open for the markets, with the Dow futures up by 490 points. Bargain hunting may contribute to initial strength on Wall Street, as traders […]

Rich Clients Should Leave Stock Bubbles to Day Traders, UBS Says

The world’s largest wealth manager has a message for any clients tempted to follow day traders into some of the equity market’s more exotic stocks in search of a fast buck: don’t even go there. With little-known companies from Fangdd Network Group Inc. to Nikola Corp. having seen their stock prices surge manyfold — sometimes […]

Robinhood Market Made Bursting Bubbles Wall Street’s Obsession

Tuesday afternoon, a smallish Chinese real-estate firm, ticker symbol DUO, went crazy on the Nasdaq. Out of the blue, in a vacuum of news, depositary receipts of the Shenzhen-based outfit shot up 13-fold, taking its market capitalization to $4 billion. Nobody had a definitive reason why. But people could guess. Its name: Fangdd Network Group […]

U.S. Stocks Soar On Much Better Than Expected Jobs Data

With traders feeling vindicated by much better than expected jobs data, stocks have moved sharply higher in morning trading on Friday. The Dow and the S&P 500 have reached their best levels in three months, while the tech-heavy Nasdaq closes in on February’s record highs. The major averages have moved roughly sideways in recent trading, […]