All Stock market stories

Politically-based investing eyes an opening

Illustration: Aïda Amer/Axios

Those betting that people want to align stock investments with their political views saw a huge opening this week.

Why it matters: Much of corporate America is at least temporarily turning off the political donation spigot. But who they supported was pushed into the mainstream like never before in the wake of the Capitol mob attack.

Fed chair: No interest rate hike coming any time soon

Fed chair Jerome Powell ahead of a congressional hearing in December. (Photo via Getty Images)

Interest rates will stay near zero for the foreseeable future, Federal Reserve chairman Jerome Powell said on Thursday.

Why it matters: It staves off concerns that the central bank is eyeing pulling back on its easy money policy if the economy recovers faster than anticipated.

Dion Rabouin, author of Markets
Jan 14, 2021 - Economy & Business

Inflation rose more than expected in December

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The Consumer Price Index rose 0.4% in December, the biggest increase since August, largely because of rising gasoline prices, the U.S. Bureau of Labor Statistics reported.

Details: The increase "was driven by an 8.4% increase in the gasoline index, which accounted for more than 60% of the overall increase," BLS said.

Dion Rabouin, author of Markets
Jan 12, 2021 - Economy & Business

Twitter's stock slump is about more than banning Trump

Data: FactSet; Chart: Axios Visuals

Twitter shares fell by as much as 12% on Monday after the company announced it had permanently banned President Trump's account.

Between the lines: While many were quick to say the decline was blowback for the company's decision, the performance of other social media companies' stock prices suggests there's more to the story.

Dion Rabouin, author of Markets
Jan 12, 2021 - Economy & Business

The big hedge

Illustration: Aïda Amer/Axios

Warnings that the U.S. equity market looks to be in a bubble are coming from a slew of Wall Street asset managers and strategists as stocks continue to reach new record highs and markets display abnormal behavior. But data show that while investors are hedging their bets, there is hardly a mad dash to sell out of equity positions.

What's happening: As the 10-year Treasury yield rises solidly above 1% — its highest level in nearly a year — a growing contingent of investors fear that a crash is imminent without the ballast of rock-bottom interest rates.

Dion Rabouin, author of Markets
Jan 12, 2021 - Economy & Business

Elon Musk tweet about Signal messaging app sent stock with same name flying

Data; FactSet; Chart: Axios Visuals

The surge in Texas health care company Signal Advance continued on Monday as the stock rose by 438%, after previously gaining 1800% during one 24-hour period.

The catalyst: A Thursday tweet from Tesla CEO Elon Musk that said simply, “Use Signal.” Musk was recommending the encrypted messaging service (an independent 501c3) that competes with Facebook's WhatsApp, but a frenzy ensued in Signal Advance (SIGL) nonetheless that has continued for days.

Dion Rabouin, author of Markets
Jan 11, 2021 - Economy & Business

Analysts ramp up their Q4 earnings targets

Reproduced from FactSet; Chart: Axios Visuals

Equity analysts raised their earnings estimates for companies in the S&P 500 by 2.3% during the fourth quarter, to $36.93 from $36.10, as optimism continues to rise.

What it means: Q4 was the second straight quarter in which Wall Street analysts have raised their earnings expectations, a reversal of the typical trend.

Dion Rabouin, author of Markets
Jan 11, 2021 - Economy & Business

Criticism of the Fed is going mainstream

Illustration: Eniola Odetunde/Axios

Big names in the world of finance are beginning to call out the Fed and other central banks for their role in ramping up economic inequality and manipulating financial markets — a departure from the praise they received for most of last year.

Why it matters: Wall Street was the only pillar of solid support. Most Americans say they don't trust the Fed and politicians look to be taking aim at the central bank for overreaching with its unprecedented actions in March.

Coinbase's public debut brings crypto to Main Street

Illustration: Eniola Odetunde/Axios

Coinbase’s upcoming public listing will be a watershed moment for a cryptocurrency industry longing for legitimacy.

Why it matters: As the first major crypto exchange to go public — and one of the industry's few blue chip companies — industry insiders believe the float will double as validation for a technology that's still seen by many as lawless and experimental.

Updated Jan 8, 2021 - Economy & Business

U.S. sheds 140,000 jobs in December, halting labor market recovery

Data: BLS; Chart: Axios Visuals

The U.S. economy shed 140,000 jobs in December, while the unemployment rate held at 6.7%, the government said on Friday.

Why it matters: The job market recovery that had been underway for the past seven months ended last month, buckling from the pressure of the coronavirus pandemic.