Wall Street
S&P 500 futures edge lower ahead of kickoff to earnings season
Traders on the floor of the NYSE, June 24, 2022. Source: NYSE U.S. equities futures dipped Sunday evening as Wall Street looked ahead to big company earnings reports and key inflation data, on the heels of a strong employment report. Futures tied to the Dow Jones Industrial Average slipped by 51 points, or 0.1%. S&P […]
Read More
This type of ETF is seeing near-record inflows — but will it keep paying dividends?
It’s a type of ETF seeing near-record inflows. New data shows dividend exchange-traded funds totaled almost $50 billion in fresh money in the first half of 2022, according to Todd Rosenbluth of VettaF, a financial services company. “We recently did a survey of advisors at VettaFi, and dividend strategies were most popular in terms of […]
Read More
Gold forms ominous ‘death cross’ pattern as it takes strong dollar hit
Gold has generated a “death cross” pattern, which signals a grim outlook for the commodity as it gets hit by a strong dollar, according to one strategist. A death cross forms when a security’s 50-day moving average falls below its 200-day moving average. This is a chart pattern that technical analysts and strategists interpret as […]
Read More
Stock futures are slightly lower ahead of key jobs report
A trader walks on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, June 27, 2022. Michael Nagle | Bloomberg | Getty Images Stock futures slipped in overnight trading following a rally on Wall Street as investors await a key jobs report Friday. Futures tied to the Dow Jones […]
Read More
World’s largest bitcoin fund slams the SEC, sues over crypto ETF rejection
Digital currency asset manager Grayscale is in a legal fight with the U.S. Securities and Exchange Commission over its latest rejection of the company’s prospective spot bitcoin exchange-traded fund. Last Wednesday, the SEC denied Grayscale’s application to convert its bitcoin trust to a spot ETF. The company filed a lawsuit the same day. Grayscale Bitcoin […]
Read More
Citi upgrades Deere to buy, says machinery stock is ‘attractive’ even in a downturn
Shares of Deere are a buy even as growing recession concerns hit machinery stocks, according to Citi. The firm cut estimates and reduced price targets across the board for the group to reflect a broader slowdown. But shares of Deere were upgraded to buy from neutral, with Citi analyst Timothy Thein saying in a Thursday […]
Read More
RBC downgrades Boston Beer, cuts price target on waning popularity of Truly hard seltzer
Boston Beer has “too much to overcome” for now as the popularity of hard seltzer fizzles out, and as it fails to innovate on new products, according to RBC Capital Markets. Analyst Nik Modi downgraded shares of Boston Beer to sector perform from outperform, saying in a Thursday note that weak sales of its hard […]
Read More
Kellogg will find it difficult to pass through inflation from here, UBS says
Shares of Kellogg may come under pressure as the company finds it difficult to pass on rising prices from here, according to UBS. Analyst Cody Ross downgraded shares of Kellogg to neutral from buy, saying in a Thursday note that the food manufacturer faces “some of the highest inflationary pressure” within the firm’s coverage. “Kellogg’s […]
Read More
Bank of America downgrades Kohl’s to underperform, sees risk to the stock with deal off the table
It’s time to sell shares of Kohl’s as consumer demand weakens from inflation, and after the retailer scrapped deal talks, according to Bank of America. Analyst Lorraine Hutchinson downgraded shares of Kohl’s to underperform from neutral, as inflationary pressures cut into sales at the department store chain, according to a Thursday note. “We are downgrading […]
Read More
Goldman says these two tech stocks have the most to lose in a deep recession
These two household tech names could get hit the most in the event of a deep recession, according to Goldman Sachs. Shares of Apple and Hewlett Packard Enterprise are both at greatest risk in a bear case scenario, according to a Tuesday note from the investment bank. Goldman Sachs, which is currently forecasting a mild […]
Read More