Investor positioning in stocks has become so bearish that it’s triggered a “contrarian buy signal” in a custom Bank of America Corp. indicator, setting up the asset class for a short-term rally, according to strategist Michael Hartnett.
Inditex SA has increased the frequency of truck deliveries to some Zara stores in its home market, as part of a trial that could signal a further acceleration in the retailer’s supply chain.
Equities fell as investors responded to the threat of a weekend escalation in the Middle East conflict, driving oil and gold higher. Treasuries rose as yields at multiyear highs drew buyers.
Israel’s military said it struck Hamas targets in Gaza overnight and hit Hezbollah assets in response to fire from Lebanon, where the Iran-backed group is based.
Chinese stocks erased all the gains seen during their massive reopening rally that took off late last year, as persistent concerns about the health of the property sector help drive an unprecedented foreign outflow from the onshore market.
Vanguard Group’s largest UK fund range has become the focus of a growing debate about how the financial watchdog is enforcing a rule in the City of London.
Indraprastha Gas Ltd., India’s largest city gas distributor by revenue, is heading for its worst day in more than three years after Jefferies and Morgan Stanley downgraded the stock following a new electric vehicle policy in the national capital.
Economists raised their US growth projections through early 2024 and trimmed recession odds to a one-year low as consumers continue to spend.
The US’s top diplomat in China called on President Xi Jinping’s government to denounce terrorism by Hamas, citing Beijing’s stance toward the group as yet another challenge in fraught ties between the world’s biggest economies.
Bank of England Governor Andrew Bailey hinted policy makers can’t let up yet in their fight against inflation even as signs amassed that the UK economy is weakening.
