Government bond yields recently held above an important level, but the next test may prove dangerous for the stock market. The benchmark 10-year Treasury note yield tested 1.5% in late August and early September, bouncing off that level and most recently trading around 1.8%. That’s the third time the barrier has been broken since the
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Apple disputed the negative call by Goldman Sachs on Friday, which hit the stock, taking issue with the firm’s negative characterization on how Apple would account for its new TV+ service. Goldman said that the one-year free trial of the TV+ service would have a “material negative impact” on earnings by showing lower hardware profit
Goldman Sachs just significantly slashed its price target for Apple, predicting 26% downside to the shares because of a “material negative impact” on earnings for the accounting method the iPhone maker will use for an Apple TV+ trial. “We believe that Apple plans to account for its 1-year trial for TV+ as a ~$60 discount
Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the opening bell on August 19, 2019 in New York City. Drew Angerer | Getty Images Some market moving events unfolded between the close of U.S. stock markets on Wednesday and the open on Thursday. With both the Dow
The U.S. government’s red ink for fiscal 2019 swelled past the $1 trillion mark in August, the first time that level has been eclipsed in seven years, the Treasury Department reported Thursday. The total shortfall rose to nearly $1.07 trillion, thanks to a difference between revenue and expenses of more than $214.1 billion in August.
Traders on the floor of the New York Stock Exchange. Brendan McDermid | Reuters Stock pickers may be on the comeback trail. Forty-eight percent of active U.S. stock funds outperformed their passive peers over the 12 months through June, up from 37% year-over-year, according to Morningstar, which analyzed more than 4,000 funds with $12.5 trillion
Charles Schwab is laying off 600 workers in response to a slowing economy and pressure from slumping interest rates, the company said. The cuts represent about 3% of the bank’s workforce and comes across all sectors amid an effort to streamline expenses as net interest revenue comes under pressure. “This Spring, we initiated a process
Traders and financial professionals work at the opening bell on the floor of the New York Stock Exchange (NYSE) on August 6, 2019. Drew Angerer | Getty Images Value is seeing the light of day finally. A huge rotation out of momentum stocks is underway as investors pile on bets on economically sensitive, cheap stocks
The market is rotating. Value is back. Momentum is out. Cyclicals rule. Defensives are so August. No one wants low volatility. What is it we are rotating out of, and what are we rotating into? There’s a lot of confusion about different ways to slice and dice the markets, and which stocks fall into which
The labor market and the broader economy are both better than they look on the surface, and in fact have been mostly defying the continual patter of recession expectations. By multiple measures, the U.S. is staying ahead of the global slowdown, the trade war with China and the bond market’s implication that the decade-long recovery