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Traders work on the floor of the New York Stock Exchange during morning trading on July 31, 2024 in New York City. U.S. stock futures slid on Thursday night as traders considered fresh results from Amazon and Intel. Dow Jones Industrial Average futures lost 143 points, or 0.4%, and Nasdaq 100 futures dropped 0.8%. Even the small-cap Russell 2000 hasn't been spared from the recent tumult, down about 3.3% in the period and on pace for its worst weekly performance since January. On the earnings front, energy giants Chevron and Exxon Mobil will be announcing their quarterly results Friday before the market open.
Persons: July's, Dow, Quincy Krosby, Arnim Holzer, Russell, " Holzer, hasn't, payrolls, Dow Jones Organizations: New York Stock Exchange, Amazon, Intel, Investors, Dow Jones Industrial, Nasdaq, Apple, LPL, EAB Investment, Chevron, Exxon Mobil Locations: New York City . U.S, Thursday's
That's because after using a job simulation tool for a short time, I have a better sense of what working at the prestigious consulting firm might be like. This story is available exclusively to Business Insider subscribers. He told Business Insider that, growing up in a small town in Australia, he didn't come from a line of bankers, lawyers, or accountants. In the roughly 90 minutes I spent using Forage, the tool made me do some work. The tool also made me think like a consultant — or at least try to.
Persons: , they'd, Goldman Sachs, Tom Brunskill, Brunskill Organizations: Service, Boston Consulting, KPMG, JPMorgan, Business, EAB Locations: San Francisco, Australia
That sudden volatility highlights something that we often write about in Before the Bell: the major mismatch between policymaker and investor expectations for interest rate cuts this year. Federal Reserve officials, including Chair Jerome Powell, have repeatedly said they envision at most three rate cuts in 2024. Wall Street, meanwhile, has ignored those warnings and has opted to practice unflinching optimism instead. It’s not the first time they’ve had to learn an important lesson: Don’t fight the Fed. Bad for the markets, good for the Fed: Markets clearly don’t often take kindly to higher-for-longer interest rates, which can negatively impact earnings and stock prices.
Persons: New York CNN —, Jerome Powell, Dow, It’s, they’ve, Don’t, , , Quincy Krosby, Arnim Holzer, José Torres, Chris Zaccarelli, doesn’t, ” Carl Icahn, Carl Icahn, Icahn, Chris Isidore, JetBlue’s, Samantha Delouya, Lyft, Erin Brewer Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Nasdaq, of Labor Statistics, BLS, Treasury, LPL, Fed, Interactive Brokers, CPI, Independent, Alliance, JetBlue, Spirit Airlines, Analysts Locations: New York, December’s, ,
Out-of-sync U.S. stocks hide market risks
  + stars: | 2023-07-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com   time to read: +5 min
Investors expect stocks to move increasingly out of sync as shown by the Cboe 3-Month Implied Correlation Index (.COR3M), which measures the 3-month expected average correlation across the top 50 value-weighted S&P 500 stocks. The last time 3-month implied correlation got this low was in early 2018, just before the February 2018 urge in market volatility dubbed 'Volmageddon.' Much of today's low stock market correlation has to do with the gulf in performance between a handful of mega caps driving the benchmark index higher and the rest of the market. "You have this view in the market that this is a stock picker's market because correlation is low," EAB Investment Group's Holzer said. "Because correlations are so low, index options have gotten incredibly cheap," said Daniel Kirsch, head of options at Piper Sandler said.
Persons: Dow, Arnim Holzer, Group's Holzer, Jack Ablin, Ablin, Kris Sidial, Sidial, Daniel Kirsch, Piper Sandler, Saqib Iqbal Ahmed, Megan Davies, Nick Zieminski Organizations: YORK, Dow Jones, EAB Investment, UBS, U.S . Federal, Cresset, Ambrus, Thomson
The cost of a college education has led many young Americans to explore other options. These colleges work with third-parties to launch or expand "direct admission" programs, which allow schools to send admission offers to students who haven't undergone the traditional application process. George Mason, Loyola University New Orleans, Iona, and St. Thomas are among the schools already using direct admission to recruit some students. College enrollment has fallen over 1% since last fall, according to a report from the National Student Clearinghouse. As well as helping to boost enrollment numbers, direct admission advocates argue the process can expose young people to colleges — and lower tuition prices — they may never have known existed.
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