financial news

Opinion: The S&P 500 is on the cusp of breaking through a level that might spell the end of the bear market

The stock market has sputtered at times over the past three weeks, but Federal Reserve Chairman Jerome Powell’s statements Wednesday prompted the S&P 500 SPX, -0.09% to jump above a technical resistance level at 4030 points. The benchmark index is now challenging the declining 200-day moving average (MA) and the trend line that defines the …

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Stock market could see ‘fireworks’ through the end of the year as headwinds have ‘flipped,’ Fundstrat’s Tom Lee says

Several headwinds that pummeled the stock market in 2022 have turned into tailwinds, setting the stage for a rally in US equities heading into year-end, according to Tom Lee, head of research at Fundstrat Global Advisors. “The Thanksgiving holiday has ended and now markets are entering the final key weeks of 2022,” said Lee, head …

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This is the chart that rattled US financial markets on Thursday

One chart is all it took to move financial markets on Thursday. That chart was presented by St. Louis Fed President James Bullard as part of a presentation in Louisville, Ky., and it shows where he sees “the sufficiently restrictive zone” for the central bank’s main policy rate target. Bullard put the zone somewhere between …

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Alibaba, Tencent, lead Hong Kong tech stocks higher after upbeat China online retail sales data

Shares of Chinese internet giants jumped in Hong Kong, after official data showed better-than-expected October retail sales in the world’s second-largest economy. Alibaba Group Holding Ltd. FATHER, +0.79% 9988, +11.05% jumped 9.8%, Kuaishou Technology 1024, +10.71% surged 8.7%, Tencent Holdings Ltd. 700, +10.51% rose 8.0% and Meituan 3690, +6.33% was up 5.8%. The Hang Seng …

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Curb your enthusiasm — Thursday’s explosive rally in stocks likely means the bear market is alive and well

Despite Thursday’s explosive rally in stocks, it’s likely we’re still mired in a bear market. In fact, the magnitude of the surge itself suggests the bear is still alive and well. Consider all trading days since the Nasdaq Composite Index COMP, +31.35% was created in 1971 in which it gained — as it did Thursday …

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Natural-Gas Prices Have Plunged Into Autumn

Natural-gas prices have fallen more than 40% since hitting shale-era highs in late August, reducing the risk of budget-busting heating bills this winter for millions of Americans and potentially easing a major cost pressure for manufacturers. The decline is due to warm autumn weather, record domestic production and gas-storage facilities that have filled up fast …

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Rate Squeeze Punishes Once-Triumphant Tech Stocks

Shares of the largest US technology firms have fallen out of favor in the most pronounced way since the 2000 tech bubble, victims of a shift in investors’ tastes inspired by rising interest rates. For years, portfolio managers were willing to overlook the occasional blemish in the tech giants’ quarterly results, reasoning that there were …

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Apple earnings beat as record back-to-school Mac sales outweigh a slight miss on iPhones

At the end of a woeful week for Big Tech earnings, Apple Inc. managed to top expectations on revenue and earnings with the help of Macs selling at a record pace during the back-to-school season, which outweighed a slight miss on iPhone sales. Apple AAPL, +7.56% shares gained 0.4% in after-hours trading Thursday, even as …

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