Stock market

The big picture

Asset managers say the 2020 election is now the market's top risk

The trade war dropped to the No. 2 concern among respondents for the first time since May.

Jan 22, 2020 - Economy & Business
How stocks shake off geopolitical tensions

Stocks have already recovered their losses from tensions with Iran.

Jan 9, 2020 - Economy & Business
Wall Street has its best year since 2013

The S&P 500 rose 29% in 2019 — despite trade war and economic uncertainty.

Dec 31, 2019 - Economy & Business
The stock of the decade: Netflix

Netflix is the S&P 500's best performer of the decade.

Dec 28, 2019 - Technology
The market will need the Fed again in 2020

The greatest risk to stocks is whether the Fed continues to stimulate the economy through what it calls "not QE."

Dec 4, 2019 - Economy & Business

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Wall Street falls into correction territory as coronavirus rout intensifies

A trader on the floor of the New York Stock Exchange. Photo: Johannes Eisele/AFP via Getty Images

The S&P 500, Dow Jones and Nasdaq all entered correction territory on Thursday, down 10% from their recent record highs amid a global market rout that began earlier this week following a spike in the coronavirus cases around the world.

The big picture: Stocks fell more than 3% for a time on Thursday morning, extending the market’s worst week since the financial crisis in 2008, according to CNBC.

Record low rates could exacerbate debt, housing issues

Illustration: Rebecca Zisser

The stock market selloff has drawn the most attention this week, but moves in the U.S. government debt market will likely have much more important impacts on the economy.

The state of play: Mass bond buying has taken place since the beginning of the year and picked up steam as headlines about the spread of novel coronavirus have grown more worrisome.

Reassessing the global impact of the coronavirus

Illustration: Aïda Amer/Axios

Economists are rethinking projections about the broader economic consequences of the coronavirus outbreak after a surge of diagnoses and deaths outside Asia and an announcement from a top CDC official that Americans should be prepared for the virus to spread here.

What's happening: The coronavirus quickly went from an also-ran concern to the most talked-about issue at the National Association for Business Economics policy conference in Washington, D.C.

Weak U.S. debt auction shows market sees even lower rates

Illustration: Rebecca Zisser/Axios

The Treasury held an incredibly weak auction of 2-year government debt Tuesday that saw primary dealers, who are essentially on clean-up duty, take home their highest share of the auction since December 2018.

What it means: Even though yields on the 2-year note have fallen by nearly 40 basis points this year, traders are convinced that there is "certainly more room for yields to fall," Ben Jeffery, rates analyst at BMO Capital Markets, tells Axios.

Small cap stocks have lost

Data: Investing.com; Chart: Axios Visuals

When President Trump launched the U.S. into a trade war in 2018, many fund managers argued that small-cap stocks were poised to outperform because their business would be immune to tariffs and uncertainty.

What's happening: They did well over the course of that year but after Tuesday's 3.5% decline, the Russell 2000 index, which tracks many of the nation's small public companies, has fallen to near its closing level from February 2018.

Wall Street sees 2nd day of brutal sell-off

Photo: Johannes Eisele/AF via Getty Images

The stock market fell another 3% on Tuesday, following Monday’s sell-off. Bond yields touched record lows.

The big picture: Stocks continued to fall as the CDC said it expects the coronavirus to spread in the U.S. The Dow and S&P are more than 7% below the record highs seen earlier this month.

Go deeperArrowUpdated Feb 25, 2020 - Economy & Business

Trump's opportunity to use Bernie as an economic scapegoat

Illustration: Aïda Amer/Axios. Photos: Zach Gibson/Stringer, The Washington Post/Getty Contributor

Bernie Sanders is poised to become an economic scapegoat for both the White House and Corporate America, assuming that Sanders comes through Super Tuesday unscathed.

The big picture: If the U.S. economy remains strong, President Trump and CEOs will claim credit (as they've been doing for three years). If it turns sour, they'll blame Bernie (even though it's a largely baseless charge).

Investors are wary of ViacomCBS' new streaming strategy

Data: Yahoo Finance; Chart: Andrew Witherspoon/Axios

Shares of the newly-combined ViacomCBS dropped a startling 15% last week, after the company announced plans for a new streaming service during its first earnings report as a combined entity.

Why it matters: The company is now worth far less combined ($17 billion in market capitalization) than the two companies were worth separately (around $30 billion) prior to their merger.

Coronavirus doesn't tell the full story behind Dow's plunge

Photo: Andrew Burton/Getty Images

As someone has certainly told you by now, the Dow fell by more than 1,000 points yesterday, its worst day in more than two years, erasing all of 2020's gains. Most news headlines assert that the stock market's momentum was finally broken by "coronavirus fears," but that's not the full story.

What's happening: The novel coronavirus has been infecting and killing scores of people for close to a month and, depending on the day, the market has sold off or risen to record highs.

Stocks fall more than 3% as coronavirus cases spike

Photo: Johannes Eisele/AFP via Getty Images

Wall Street had its worst day in two years on Monday, following a spike in coronavirus cases in South Korea and Italy. The S&P 500 fell 3.3%, the Nasdaq Composite fell 3.7% and the Dow Jones Industrial Average sunk 1,030 points (3.5%).

The big picture: This is the U.S. stock market's biggest reaction thus far to the coronavirus, largely shrugging it off as a threat to the global economy (though the bond market has not). While the S&P is down from record highs — which it notched last week — the index is still above lows touched earlier this year.

Go deeperArrowUpdated Feb 24, 2020 - Economy & Business
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