Stocks Open Lower as Bond Yields Edge Higher

Stocks Open Lower as Bond Yields Edge Higher

US stock indexes fell, led by losses in technology shares, as investors shunned both government bonds and equities on worries that further interest-rate increases and China’s Covid-19 policies would weigh on growth. The S&P 500 declined 1.5%, setting major indexes up for another day of losses. The technology-focused Nasdaq Composite Index fell 1.8% while the … Read more

What Bitcoin Could Be Worth to Fidelity. You’ll Be Surprised.

What Bitcoin Could Be Worth to Fidelity. You'll Be Surprised.

Text size Fidelity’s push into Bitcoin is raising controversy but could be lucrative for the company. Dreamstime.com Fidelity Investments shocked the retirement industry last month with a move to make Bitcoin available in 401(k) plans. Add up the revenue that might bring in, and it starts to be less of a surprise. Fidelity is the … Read more

New study finds omicron no less severe than earlier variants, and not just more transmissible

New study finds omicron no less severe than earlier variants, and not just more transmissible

A new study conducted by researchers at Harvard Medical School among others has found that the omicron variant of the coronavirus that causes COVID-19 is just as severe as earlier variants, and not more transmissible but no less severe, as previously thought. The study was based on the records of 130,000 COVID patients in Massachusetts … Read more

Fed, Biden Administration Float New Lending Rules for Lower-Income Areas

Fed, Biden Administration Float New Lending Rules for Lower-Income Areas

WASHINGTON—Top US regulators proposed overhauling how banks lend hundreds of billions of dollars annually in lower-income communities, after scrapping a Trump-era revamp that had divided regulators and industry officials. The latest proposal to modernize rules for the 1977 Community Reinvestment Act, announced Thursday, aims to ensure lending to lower-income individuals and small businesses is distributed … Read more

U.S. Trade Deficit Widens to Record $109.8 Billion as Imports Surge

U.S. Trade Deficit Widens to Record $109.8 Billion as Imports Surge

Inflation, supply imbalances and strong demand for imported goods widened the US trade deficit to a record in March, with clothing, computers, and vehicles driving the surge. The trade gap in goods and services widened by 22.3% in March from the prior month to a seasonally adjusted $109.8 billion, the Commerce Department said Wednesday. Before … Read more

With interest rates rising, it’s time to focus on MANG stocks instead of FAANG, according to Jefferies

With interest rates rising, it's time to focus on MANG stocks instead of FAANG, according to Jefferies

Heading into the Federal Open Market Committee’s policy meeting, analysts at Jefferies on May 3 advised investors to avoid the popular FAANG + Microsoft group of stocks. They pointed instead to a group they named MANG. We’ll compare the two groups below. The FAANG group — Facebook holding company Meta Platforms Inc. FB, Apple Inc. … Read more

Omicron caused spike in deaths in vaccinated people, analysis finds, though unvaccinated remain most at risk

Omicron caused spike in deaths in vaccinated people, analysis finds, though unvaccinated remain most at risk

The omicron variant of the coronavirus that causes COVID-19 that has swept across the US since late last year has taken a grimmer toll than earlier variants, including in people who were vaccinated and even had booster shots. That’s according to a Washington Post analysis of data from the Centers for Disease Control and Prevention, … Read more

U.S. Job Openings, Quits Reach March Records in Tight Labor Market

U.S. Job Openings, Quits Reach March Records in Tight Labor Market

Job openings and the number of times workers quit reached the highest levels on record in March, as a shortage of available workers continued to pressure the US labor market. The Labor Department on Tuesday reported a seasonally adjusted 11.5 million job openings in March, an increase from 11.3 million the prior month. The number … Read more

Omicron caused spike in deaths in vaccinated people, analysis finds, though unvaccinated remain most at risk

Omicron caused spike in deaths in vaccinated people, analysis finds, though unvaccinated remain most at risk

The omicron variant of the coronavirus that causes COVID-19 that has swept across the US since late last year has taken a grimmer toll than earlier variants, including in people who were vaccinated and even had booster shots. That’s according to a Washington Post analysis of data from the Centers for Disease Control and Prevention, … Read more

Stock Market Today: Stocks Rally Into Close as Key Bond Yield Passes 3%

Stock Market Today: Stocks Rally Into Close as Key Bond Yield Passes 3%

The stock market bounced back a little bit Monday, as investors look ahead to Wednesday’s FOMC meeting. Buyers stepped in after a steep selloff on Friday, which saw the Dow fall almost 3%, the S&P 500 shed more than 3%, and the Nasdaq tumble more than 4%. The general concerns that still linger: the Federal … Read more