Good morning! If you’re reading this, congratulations on successfully booting up your personal computer, a feat not everyone around the globe has managed today. More on that later. Correction: Thursday’s Need to Know newsletter incorrectly reported the Nasdaq Composite’s performance. The decline on Wednesday was the sharpest since mid-December 2022....
An inverted Treasury yield curve is typically seen as a harbinger of recession, although the U.S. economy has held up so far. An inverted Treasury yield curve is often viewed as a signal of an impending recession. But does the curve’s return to normalcy signal an all-clear for the market?...
U.S. stocks are experiencing an unusually tranquil stretch poised to hit a new milestone on Wednesday as the rally expands beyond a few megacap names. If the S&P 500 avoids a significant selloff, it will mark 352 consecutive sessions without a 2% decline, the longest streak since February 2007. ETF...
Futures indicate a positive start for equities, with the S&P 500 nearing a record high. Despite recent calm, analysts detect a significant shift in market sentiment. Greg Boutle of BNP Paribas notes that last Thursday’s softer-than-expected consumer price index report and the resulting dip in Treasury yields triggered a major...
Thursday was a rough day for hedge funds heavily invested in megacap tech stocks and shorting the rest of the market. A cooler-than-expected June consumer-price index (CPI) reading ignited a rotation into previously neglected sectors. “Hedge funds are blowing up today,” said Jay Hatfield, CEO of Infrastructure Capital Advisers, referring...
Happy CPI day to all who observe! Here’s a deeper look into today’s crucial report. If inflation aligns with economists’ expectations, there could be a brief opportunity to bet against the U.S. dollar, according to Karen Reichgott Fishman, senior currency strategist at Goldman Sachs. After reaching 2023 highs, the dollar...
