Is the Stock Market Closed on Juneteenth?

US stock markets are closed to observe Juneteenth for the first time in history. The New York Stock Exchange and Nasdaq are shut today in observation of the newest federal holiday, adding it to the list of market holidays that also includes Thanksgiving Day and Christmas Day. Juneteenth—also known as Emancipation Day, Black Independence Day … Read more

Bitcoin Falls to Half Its Peak as Investors Shun Risk

The cryptocurrency’s market tumble over the weekend echoed the broader stock market’s decline last week as investors moved away from riskier assets. Dreamstime text size The price of Bitcoin fell 5.3% to $33,879 on Sunday afternoon and is now about half its all-time high. It wasn’t immediately clear what had triggered the decline, but the … Read more

U.S. stocks end lower after jobs data, as S&P 500 suffers its longest losing streak since 2011

All three major US stock benchmarks closed lower Friday, each booking another week of losses, as investors weighed April jobs data amid heightened stagflation fears. The S&P 500 fell for a fifth straight week, its longest losing streak since June 2011, according to Dow Jones Market Data. How did stock indexes perform? The Dow Jones … Read more

14 Books We Read This Week

‘Why We Fight’ Review: Give Peace a (Bigger) Chance An economist’s analysis of armed conflict takes lessons from game theory to discover how to head off wars before they happen. Review by Adam Kuper Read the review ‘The Last Days of Roger Federer’ Review: Running Out of Time The essayist Geoff Dyer looks at a … Read more

Based on 19 bear markets in the last 140 years, here’s where the current downturn may end, says Bank of America

At nearly the halfway mark in a volatile year of trading, the S&P 500 index is down, but not out to the point of an official bear market yet. According to a widely followed definition, a bear market occurs when a market or security is down 20% or more from a recent high. The S&P … Read more

It’s the Worst Bond Market Since 1842. That’s the Good News.

So far in 2022, with inflation raging, bonds have lost 10%—among the worst returns in US history. On Wednesday, the Federal Reserve raised interest rates by 0.5 percentage points, the sharpest increase in 22 years. Yet, just as your body begins healing from an injury before you can feel any improvement, the worst for bond … Read more

Children’s Books: Derring-Do With a Didactic Vibe

Intrepid girls outwit rogues, thwart empires, and rescue abused and vulnerable animals in four novels for readers ages 10 to 14. In three of the books, as the heroine performs her acts of bravery or defiance, the author who created her is choosing to make moral points . The most exuberant and least didactic of … Read more

This market strategist says stocks could gain 8% to 15% from here — giving anxious investors a perfect opportunity to sell

The US stock market’s huge decline on May 5 actually boosts the odds of a strong rally beginning soon, even if it won’t kick off a new leg of the bull market. That’s according to Hayes Martin, president of advisory firm Market Extremes. Over the years I have reported on Martin’s predictions of market turning … Read more

Who’s to blame for Thursday’s selloff? The Fed, and you, says this analyst

It’s not great that there’s a major central bank officially predicting an economic contraction. Nor is it terrific that US productivity fell by the most since 1947 on rising labor costs. And let’s throw in China doubling down on its zero-COVID policy, which doesn’t exactly lend confidence in the world’s number-two economy. But Thursday’s 3.6% … Read more

Why the stock-market plunge is partly due to bad news on the inflation front

Don’t overlook the role of disappointing productivity figures as a spark for Thursday’s stock-market selloff, a veteran Wall Street strategist said. “Contributing to the stock-market selloff today was more bad news on the inflation front. Nonfarm business productivity dropped 7.5% [on a seasonally adjusted annual rate] during Q1,” wrote Ed Yardeni, president and chief investment … Read more