By Davide Barbuscia and Lewis Krauskopf (Reuters) – A more dovish-than-expected message from Federal Reserve Chairman Jerome Powell stands to further boost hopes of slowing rate hikes and a so-called economic soft landing that have fueled a powerful rebound in U.S. stocks. For weeks, hopes that easing inflation and cooling growth will allow the Fed…
NEW YORK (Reuters) – The negative impact of currency fluctuations on North American companies’ results rose sharply again in the third quarter of 2022, data from treasury and financial management firm Kyriba showed on Tuesday. The collective exchange-rate hit, including on companies in the United States, Canada and Mexico, was $43.15 billion in the third…
SHANGHAI (Reuters) – Chinese investors are starting to shift money from bonds to stocks, betting on a robust recovery for riskier assets as the government’s policy pivots to boost growth, the latest report on mutual funds showed. Foreign money has also been flowing into China equities, sending the benchmark index up 7.4% in January, although…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Recession worries are sending investors into Treasuries and other fixed income investments ahead of the Federal Reserve’s first meeting of 2023, even as stocks start the year with a hopeful rally. Yields on the benchmark U.S. 10-year Treasury note, which move inversely to prices, have fallen by around…
By Chris Taylor NEW YORK (Reuters) – Joe Natiello is facing what you might call a “nice problem to have.” Almost 20 years ago, the 64-year-old Westfield, New Jersey, resident took out a term life insurance policy, to help cover his family in case the worst happened. Next year, though, that policy is elapsing, and…
By Xinghui Kok and Chen Lin SINGAPORE, (Reuters) – Like many rich Chinese, graduate student Zayn Zhang thinks Singapore could be ideal to park his family’s wealth. He’s hoping that studying at a university in the Asian financial hub will lead to permanent residency and while the 26-year-old hits the books, his wife is out…
By David Randall NEW YORK (Reuters) – Cathie Wood’s ARK Innovation Fund is closing in on the best monthly performance in its history as it rides a rebound in many of the high-growth stocks that took a beating last year. The $7.3 billion ARK Innovation fund is up slightly more than 25% for the month…
By David Randall NEW YORK (Reuters) – Some of Wall Street’s biggest names are throwing cold water on expectations that the U.S. economy will scrape through 2023 without a recession, even as hopes of easing inflation and resilient growth propel stocks higher. Banks and asset managers that have reiterated recession calls include BlackRock, Wells Fargo…
By Douglas Gillison WASHINGTON (Reuters) -Wall Street’s top regulator on Wednesday unanimously voted to propose a rule barring traders in asset-backed securities from betting against the very assets they sell to investors, behavior that became infamous in the wake of the 2008 global financial crisis. The rule is among the last to be adopted under…
By Ross Kerber (Reuters) – Shareholder resolutions filed by New York City’s top pension official will ask top Wall Street banks including JPMorgan Chase & Co and Bank of America to set stricter 2030 greenhouse gas emissions reduction targets for portfolio companies. If the advisory proposals come to a vote at bank shareholder meetings this…
