By Lewis Krauskopf NEW YORK (Reuters) – U.S. stocks are starting 2023 at much cheaper levels after Wall Street’s biggest swoon in 14 years but the potential for a recession combined with higher interest rates means equities may not be priced low enough to lure investors. Since the S&P 500 reached an all-time high a …
Stock swoon resets valuations but recession risk, rates cloud outlook Read More »
By Nell Mackenzie (Reuters) – Investment management firm AQR’s Absolute Return Strategy in 2022 saw its best year since its inception since 1998, a source with knowledge of the matter said on Friday. The $100 billion firm AQR reaped top performances from several of its strategies, taking advantage of strong trends across futures and markets …
Investment management firm AQR books best year in several strategies Read More »
By David Randall NEW YORK (Reuters) – Star stock picker Cathie Wood’s Ark Invest sold 403,990 shares of embattled crypto-focused bank Silvergate Capital Corp on Thursday as shares in the firm plunged more than 40%, according to disclosures by Ark Invest. The selling nearly liquidated the firm’s share holdings and came from the $645 million …
Wood’s Ark Invest nearly liquidates Silvergate Capital position Read More »
By Valerie Volcovici WASHINGTON (Reuters) – The U.S. Environmental Protection Agency on Friday said it would tighten national air quality standards for fine particle pollution for the first time since 2012, a move that could lead to tougher limits on tailpipe and smokestack emissions. Fine particulate matter, or soot, comes from sources ranging from power …
U.S. EPA tightens soot standards for first time in decade Read More »
By Abhijith Ganapavaram and Kannaki Deka (Reuters) -Southwest Airlines Co said on Friday it expects to post a loss in the fourth quarter after it canceled over 16,700 flights between Christmas and New Year’s Eve due to a tech meltdown. The mass cancellations during the peak season for U.S. airlines will result in a pre-tax …
Southwest Airlines forecasts loss after mass holiday cancellations Read More »
WASHINGTON (Reuters) – U.S. services industry activity contracted for the first time in more than 2-1/2 years in December amid weakening demand, while the pace of increase in prices paid by businesses slowed considerably, offering more evidence that inflation was abating. The Institute for Supply Management (ISM) said on Friday its non-manufacturing PMI dropped to …
U.S. service sector contracts in December, price increases slow – ISM survey Read More »
BERLIN (Reuters) – Germany’s digital minister recently met Elon Musk to clarify what Berlin expects from Twitter, especially in fighting disinformation, since the Tesla founder took over the social media firm, the digital ministry said on Friday. Digital and Transport Minister Volker Wissing, who was in California at the start of 2023, told Musk that …
Germany tells Musk it expects Twitter to fight disinformation Read More »
By Howard Schneider WASHINGTON (Reuters) -Aiming to fortify broad labor market gains among U.S. minority groups over the previous decade, Federal Reserve Chair Jerome Powell in 2020 engineered a historic promise to try to maintain that progress by giving “broad-based and inclusive” employment a status equal if not superior to the central bank’s pledge of …
Fed’s ‘inclusive’ jobs promise hits inflation control reality Read More »
By Ismail Shakil OTTAWA (Reuters) -The Canadian economy recorded a massive jobs gain in December and the jobless rate unexpectedly declined, according to official data released on Friday that raised the likelihood of the Bank of Canada raising rates again this month. The economy gained a net 104,000 jobs in December, far exceeding analysts’ forecasts, …
Canada posts hefty job gains, raising chances of another rate hike Read More »
(Reuters) – U.S. equity funds recorded a seventh straight week of outflows in the seven days to Jan. 4 on concerns that the Federal Reserve might continue to hike rates to tame inflationary pressures. Investor caution ahead of the release of minutes from the Fed’s latest meeting also hit appetite for equities. Graphic – Fund …
U.S. equity funds record seventh week of outflows Read More »
