Gold’s Price Nears Record High, Driven by Uneasiness
Shaky banks and other worries propel the haven investment upward.
Market Moves
Alecta Replaces Equities Head in Wake of US Banking Losses
Liselott Ledin was placed on leave after Sweden’s largest pension fund lost almost $2 billion during recent U.S. banking failures.
Uncertainty Expected to Dominate Global Markets
Major economies ‘remain imbalanced’ with more volatility ahead, WTW finds.
Slowly It Turns: The Market Rotates Back to Rally Mode
Cyclical stock sectors re-take the lead, but with deliberation, as earnings weaken.
Inverted Yield Curve Passes Danger Line
With the spread between short and long rates upside down for more than 15 straight trading days, that portends a recession for sure by August, Bespoke warns.
Good News: An Earnings Drop Might Not Bring a 2023 Recession, Says Stovall
Profit plunges don’t always augur an economic downturn, CFRA’s top strategist finds.
Is All the Bad News Priced Into the Stock Market? Nope
A possible trap: With equities on another tear, BCA Research warns that investors really don’t appreciate all that can go wrong.
Market Volatility Erases More Than 5 Percentage Points from Public Pension Funded Ratios in September
Investment losses for the 100 largest public pensions ranged from 3.3% to 9.6% during the month.
Ladies and Gentlemen, Start Your Engines: Porsche Dual-Class IPO Goes Off Seamlessly
In Germany’s largest IPO since 1996, and Europe’s largest since 2011, Porsche’s IPO hit the road running, raising €9.4 billion on 911 million shares offered.
3rd Quarter Earnings Season Gets Off to a Wheezing Start
Banks’ so-so results don’t inspire confidence, as the stock market continues its losing ways.
Shredded Equities Get New Love: ETF Inflows Are Up
Inflation is still sizzling and geopolitics are scary, but even Cathie Wood’s fund is attracting investors again.
Fright Among British Pension Funds as Bonds Buying Ends
Bank of England says it is ceasing support for gilts on Friday, as plans face punishing margin calls amid tanking fixed-income values.
The Big Question: How Hot Will the New CPI Be?
A forecast from the Cleveland Fed is not encouraging. But Brainard and Evans have soothing words.
When the Best Stock Gains Are Made: Overnight
After regular trading hours is when equities increase the most, a Bespoke study finds.
It’s Not Just the Fed: Earnings Problems Vex the Market
Bad news from FedEx, Ford and others saps confidence.