When sellside strategists, such as Deutsche Bank’s David Bianco, throw in the towel and the best they can come up with is a 100 word admission that nothing makes sense anymore, and that the S&P has never been “more disjointed from other assets”, it’s either a time to sell everything… or buy anything.Read More
The S&P 500 posted steep losses on Monday, marking it the worst start to a new year in more than a decade.
Investors dumped risky assets such as equities and piled into havens, bidding up prices of gold and Treasurys following a rout in Chinese shares overnight as well as heightened tensions between Iran and Saudi Arabia that sparked a global equity selloff.Read More
Beneath the U.S. stock market’s record-setting gains, trouble is stirring.
About 47 percent of stocks in the Nasdaq Composite (CCMP) Index are down at least 20 percent from their peak in the last 12 months while more than 40 percent have fallen that much in the Russell 2000 Index and the Bloomberg IPO Index.Read More
Wall Street’s record-setting rally continued Tuesday as the S&P 500 notched its 30th record of the year and closed above 2000 for the first time. The Dow also rose but fell short of its record closing high after setting an all-time intraday high earlier in the session.Read More
Standard & Poor’s declared Argentina in default after the government missed a deadline for paying interest on $13 billion of restructured bonds.
The South American country failed to get the $539 million payment to bondholders after a U.S. judge ruled that the money couldn’t be distributed unless a group of hedge funds holding defaulted debt also got paid. Argentina,Read More