Beneath Market’s Uneasy Calm, Dread Runs Deep Across Wall Street
It was an unexpected, if improbable relief. The panic unleashed by Donald Trump’s trade war, which convulsed financial markets around the globe and sowed doubts about America’s standing in the world, died down nearly as quickly as it began. The S&P 500 Index —...
UnitedHealth Falls Most in 26 Years After Shock Forecast Cut
UnitedHealth Group Inc. cut its annual forecast and reported its first earnings miss in more than a decade, in a foreboding sign that weighed on other insurance stocks. The company said it was blindsided by rising medical costs as the first quarter closed, upending a...
Whale Rock Lost 20% in First Quarter Amid Trade War Volatility
Whale Rock Capital Management racked up double-digit losses in the first quarter as President Donald Trump’s trade wars rattled markets. The public equities hedge fund lost 15% in March, extending its loss over the first three months of the year to about 20%,...
Stock Rout Has Couples Taking Axe to Wedding Budgets
Couples are cutting wedding budgets and delaying the event altogether in a sign that a sinking stock market and recession fears are causing a pullback on big purchases. Wedding planner Alyssa Pettinato said that four of the 15 couples she’s working with in the New...
For Wall Street, Worsening Economy Is a Problem for Later
Bank executives’ commentary over the past week made clear they’re worried about where the economy is headed, but their first-quarter results showed little concern. The six biggest US banks bought back roughly $22 billion of stock in the quarter, a jump of more than...
Retail Investors Who’ve Only Known Bull Markets Are Buying the Dip
Tariff turmoil has shredded investing play books up and down Wall Street. But far from Manhattan, in the Nevada desert, Brandon Arnett is sticking to the retail trading mantra that’s worked for all his life: Buy the dip. “I have been buying into the S&P 500,...
Bessent Says ‘Everything’s On the Table’ for Taxes on Wealthiest
Treasury Secretary Scott Bessent said Republicans are looking at all options to help pay for President Donald Trump’s campaign promises on tax cuts, including increasing levies on the wealthiest Americans. “We’re going to see where the president is” on the issue,...
Dollar’s Losing Run Shows Wall Street Angst Over Tariff U-Turns
Worries over global trade dragged the dollar to a six-month low on Monday, leaving investors bracing for more weakness ahead. The Bloomberg Dollar Spot Index extended declines for a fifth day, falling a total of 3.3% during that stretch. While Treasuries and stocks...
‘So Wrong’ Stock Forecasters Struggle to See Through Trade Chaos
Wall Street’s leading prognosticators have been humbled this year, with so many proven wrong about the damage President Donald Trump’s combative trade policies would do to the stock market. But despite all the convulsions and uncertainty, most equities strategists...
Citigroup Turns Cold on US Stocks, Joining Wall Street Peers
Equity strategists at Citigroup Inc. lowered their view on US equities, saying the case to diversify away from the asset class is strengthening as the trade war undermines economic growth and earnings. Cracks in “US exceptionalism” will persist with the emergence of...
US consumer sentiment plummets to second-lowest level on records going back to 1952
Americans are rarely this pessimistic about the economy. Consumer sentiment plunged 11% this month to a preliminary reading of 50.8, the University of Michigan said in its latest survey released Friday, the second-lowest reading on records going back to 1952. April’s...
‘Stormy Seas’: Jamie Dimon Sums Up Banks’ Gloomy Global Outlook
A struggle by investors to predict President Donald Trump’s mercurial policies set trading records at Wall Street banks in the first quarter. But as industry leaders looked ahead, they had no great answers and scant optimism for what’s to come. Variations of...
How Stock Market ‘Wealth Effect’ Could Slow the Economy
Market jitters over trade could damage more than your retirement fund balance. When investors feel less wealthy, they may also choose to spend less. Income is a paycheck, but wealth is at least partially a vibe. One day a portfolio of stocks is worth $100,000, and the...
JPMorgan Analyst’s ‘Redacted’ Report Spells Out Fear of Trump
A JPMorgan Chase & Co. strategist whom Jamie Dimon has lauded as “one of our firm’s great thinkers” is taking an unusual approach to highlight fears on Wall Street over speaking out against the Trump administration. On Monday, before Donald Trump pivoted...