Tag Archives: market

The popular real estate website Zillow was criticized on social media after a TikTok video decrying an unnamed real estate company’s potentially nefarious business strategies went viral. Las Vegas-based real estate agent Sean Gotcher (@seangotcher) posted a two-and-a-half minute video to TikTok earlier this month, describing a scenario where a so-called iBuyer uses its massive, user-generated database to scheme the local housing market. An iBuyer, according to Zillow, is “a company that… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Monday, September 27, 2021 All bad news is priced into the stock market, until it isn’t.  I lost count long ago the number of financial services pros that no matter what risks were barreling straight down on investors would tell me it was already priced into the valuations of public companies.  Back in late 2007 when two Bear Stearns (ticker… Source link

The market is fighting hard to shrug off a carousel of concerns ranging from an expiring debt ceiling to potential contagion from a bust of overly-indebted China real estate development Evergrande.  But any rally off the recent lows may prove short-lived, contends Binky Chadha, Deutsche Bank chief markets strategist. The veteran strategist reiterated his call for a deep stock market correction on Thursday.  “I would say this [week’s] sell-off was very much a garden variety pullback rather… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Thursday, September 23, 2021 The famed ‘Fed put’ is alive and well. The Federal Reserve isn’t entirely asleep at the switch on soaring prices, and doesn’t appear to be committing a policy error — at least not yet. Those were the main takeaways from Wall Street’s reaction to the Fed’s policy decision, which sent a market addled by… Source link

President Joe Biden very often cites research from Moody’s when he is trying to make a point on the U.S. economy.  He should use the latest from Moody’s Mark Zandi to emphasize any point being made to fellow politicians on both sides of the aisle on the need to get a debt ceiling deal done ASAP.  “Shutting the government down would not be an immediate hit to the economy, but a default would be a catastrophic blow to the nascent economic recovery from the COVID-19 pandemic,” said Zandi, the… Source link

If history is any guide, then investors shouldn’t sell all their stocks and move into cash and gold amid fear of another government shutdown.  “History shows that U.S. government shutdowns generally have not meaningfully impacted equity returns,” points out David Kostin, Goldman Sachs chief U.S. equity strategist, in new research. Kostin crunched the numbers, and they support his view.  The S&P 500 posted median returns of -0.1% on the dates of budget authority expiration, 0.1% during the… Source link

Do a read through of the disappointing earnings report out of FedEx on Tuesday night and you get the sense non-farm payrolls reports for the rest of 2021 may surprise economists to the downside.  The problem (one that may be getting worse, per FedEx)? Finding humans to accept jobs in a very tight labor market even at higher rates than what the specific job would have paid months ago.  “The impact of constrained labor markets remains the biggest issue facing our business as with many other… Source link

(Bloomberg) — Bitcoin dropped briefly below $40,000 for the first time since August amid rising criticism from regulators, before rallying as the mood in global markets improved. Most Read from Bloomberg The largest cryptocurrency broke a three-day losing streak, rising 2.9% to $42,132 as of 6:34 a.m. London time on Wednesday. It earlier slid as much as 3.2% to $39,625. Tokens including Ether, Solana and Litecoin were slightly lower over the past 24 hours. Fears of contagion from the debt… Source link

The thought of a Lehman Brothers-esque collapse in China sent U.S. investors running for the exits Monday. The Dow Jones Industrial Average (^DJI) sank 614 points, while the S&P 500 (^GSPC) fell 75 points and the Nasdaq Composite (^IXIC) plunged 330 points. It was the market’s worst one-day slide in months and shattered an extended stretch of calm for stocks. The S&P 500 hadn’t fallen more than 1% since mid-August. Investors were rattled by news that the major Chinese real estate developer… Source link

The financial crisis gripping major Chinese property developer Evergrande has triggered a sharp turn in broader stock market sentiment, as seen by the S&P 500 dropping below its key 50-day moving average.  With news of the Evergrande debacle gaining steam last Friday, the S&P 500 closed the session below the 50-day moving average for the first time since June. The tenuous situation of Evergrande — which includes potential missed debt repayments — gained steam over the weekend and caused… Source link