Stock market

The big picture

Tesla mania vs. economic reality

Evidence that the stock market and the real economy are not the same thing.

Dec 22, 2020 - Economy & Business
Big businesses' corporate paradise may be coming to an end

If Trump's presidency is about to end, an unprecedented golden era for big businesses could end with it.

Nov 6, 2020 - Economy & Business
The fall of an empire

All major oil companies are facing trouble. But Exxon has fallen the farthest, making the biggest bets on oil and gas — and the smallest bets on renewable energy.

Nov 1, 2020 - Economy & Business
Investors say ignore the coronavirus pandemic and buy stocks

Bullish fund managers are starting to lay down bets that it will be this way for a while.

Jul 9, 2020 - Economy & Business
Markets swell as the economy shrinks

The disconnect shows how the coronavirus has thrown all bets off.

Jul 3, 2020 - Economy & Business
A look at Robinhood traders' favorite stocks

The list is heavily filled by speculative bets like cruise operators and airlines.

Jun 18, 2020 - Economy & Business

All Stock market stories

Robinhood's IPO came amid a regulatory storm

Illustration: Shoshana Gordon/Axios

Robinhood, best known for its popular no-fee stock trading app, went public last Thursday while facing an unusually large legal and regulatory storm.

Why it matters: While some challenges will likely resolve, others could seriously maim the company, forcing it to right its business ship under the scrutiny and pressures of the public markets.

Markets could be just fine when the Fed begins tapering its emergency support

Fed Chair Jerome Powell. Photo: Daniel Acker/Bloomberg via Getty

Experts warn that the Federal Reserve’s plan to eventually taper its quantitative easing program could bring volatility to the markets. But the volatility could prove limited.

Why it matters: QE is an emergency monetary policy tool that involves large-scale purchases of Treasury and mortgage-backed securities in an effort to keep the bond markets liquid and well-functioning during times of stress.

Watch for a sell-off in August, historically an ugly month for investors

Illustration: Sarah Grillo/Axios

August is not friendly to investors, according to history.

Why it matters: Despite its modest decline on Friday, the stock market continues to trade near all-time highs. In fact, the S&P 500 has booked gains for six consecutive months.

Index fund investors saved $357 billion over last 25 years

Illustration: Sarah Grillo/Axios

Investors who’ve opted to passively track the stock market haven’t just outperformed most active fund managers. They’ve also saved a ton of money in fees while doing it.

Why it matters: There are loads of active fund managers aiming to beat the returns of funds that track indexes like the S&P 500.

Planning for a sell-off

Illustration: Shoshana Gordon/Axios

The stock market is near all-time highs, which makes for a great time to plan for a big sell-off, even if you don’t expect one to come.

Why it matters: A sell-off that sends the stock market down 10% from current levels would be very average by historical standards.

Updated Jul 29, 2021 - Economy & Business

U.S. economy grew at a 6.5% rate last quarter, missing expectations

Contractors work on a home under construction. (Photo: Micah Green/Bloomberg via Getty Images)

The U.S. economy grew at an annualized 6.5% rate last quarter, the government said Thursday — slower than the 8.4% economists expected.

Why it matters: It came as the economy made strides toward further reopening, vaccinations rolled out and government stimulus bolstered spending. But supply crunches held the pace of growth back.

Jul 29, 2021 - Health

The billion-dollar COVID booster discussion

A third dose of the COVID-19 vaccine could add billions of dollars in extra revenue for Pfizer. Photo: Michael Nagle/Bloomberg via Getty Images

Pfizer said yesterday that it expects to sell nearly $34 billion worth of coronavirus vaccines this year — and there could be billions more behind that, if people who have gotten the shot ultimately need boosters.

Why it matters: It's unclear whether, when and for whom a coronavirus vaccine booster will be necessary. Pfizer has a lot of money riding on those answers, and executives are already making the case that many Americans will need a third dose.

Dan Primack, author of Pro Rata
Jul 27, 2021 - Economy & Business

PerkinElmer acquires antibodies developer BioLegend

Illustration: Eniola Odetunde/Axios

PerkinElmer (NYSE: PKI) agreed to acquire San Diego-based antibodies developer BioLegend for $5.25 billion in cash ($2.2b) and stock.

Why it matters: Antibodies have been key research tools for studying COVID-19 and its troublesome variants.

Companies clear an already high earnings bar

Illustration: Aïda Amer/Axios

Companies have been reporting earnings growth that's way up — even overshooting expectations put out by Wall Street’s analysts.

Why it matters: Earnings growth is the key driver of stock prices.

Felix Salmon, author of Capital
Jul 22, 2021 - Economy & Business

Big investors seek impact

Illustration: Aïda Amer/Axios

It's not enough to invest in sustainable businesses. Instead, asset managers sometimes have a legal responsibility to actively influence the sustainability outcomes of the businesses they invest in. That's the message of new analysis from law firm Freshfields Bruckhaus Deringer.

Why it matters: Large investors at insurers, pension funds, and non-ESG mutual funds are understandably very conservative when it comes to changing the way in which they invest the trillions of dollars under their control. A sober 564-page presentation from a major law firm is exactly the sort of thing to help them change their ways.

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