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

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

A Stock Market Reality Check

Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting in Washington, DC, May 4. Photo: Win McNamee/Getty Images Well, so much for optimistic assurances about inflation, interest rates and recession. Federal Reserve Chairman Jerome Powell’s relatively sunny take on all three on Wednesday, after the latest Federal … 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

India’s Central Bank Calls Time on Stock Market’s Bull Run

The bears are here for India’s stock markets. While a full-scale massacre isn’t necessarily imminent, investors should brace for a nasty mauling. In a surprise move, the Reserve Bank of India raised interest rates Wednesday for the first time in more than three years by 0.4 percentage points to 4.40%. The decision was a belated … Read more

ADP sees ‘signs of slowing’ in labor market as U.S. adds 247,000 private-sector jobs in April

This version corrects the gain in total private sector employment in April A job seeker speaks with recruiters during a job fair last summer at O’Hare International Airport in Chicago. Scott Olson/Getty Images The numbers: Private payrolls rose by 247,000 in April, according to the ADP National Employment Report released Wednesday. Economists polled by The … Read more

It’s Fed day. If markets are going to gyrate, here’s the question that will get things stirring.

How would you play two chess grandmasters, simultaneously? It isn’t that hard, even for someone whose opening game never developed beyond 1.e4. You let one grandmaster go first, use his move against the second grandmaster, see his reply, then use his move against the first grandmaster, and so on. Similarly, investors are at the point … Read more

Stock market starts to price ‘rising risk of stagflation,’ says Research Affiliates CEO. Here’s how investors may be positioning.

Equity markets are starting to price “the rising risk of stagflation,” according to Research Affiliates chief executive officer Chris Brightman. “Investors are repositioning portfolios to protect the real value of their financial capital,” Brightman wrote in a Research Affiliates note this month. “Capital markets have panicked as investors try to anticipate how soon the Fed … Read more

U.S. Job Openings, Quits Reach March Records in Tight Labor Market

Job openings and the number of times workers quit reached the highest levels on record in March, as a shortage of available workers continued to pressure the US labor market. The Labor Department on Tuesday reported a seasonally adjusted 11.5 million job openings in March, an increase from 11.3 million the prior month. The number … Read more

Bitcoin Has Been Tumbling. The Fed Might Make It Worse.

Text size Macro headwinds could make it tougher for Bitcoin and other cryptos. Dreamstime A bear market has settled in for tech stocks as the Fed turns hawkish. It doesn’t bode well for Bitcoin and other cryptocurrencies. Tea Nasdaq Composite Index has now slumped more than 20% from its peak last November, putting the tech-heavy … Read more