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A new trading year kicked off just weeks ago. After languishing throughout last year, growth stocks have zoomed higher. Tesla Inc. and Nvidia Corp., for example, have jumped more than 30%. The outlook for bonds is brightening after a historic rout. Even bitcoin has rallied, despite ongoing effects from the collapse of the crypto exchange FTX.
S&P 500 Closes Lower as Investors Digest Earnings
  + stars: | 2023-01-26 | by ( Caitlin Mccabe | Justin Baer | ) www.wsj.com   time to read: 1 min
U.S. stocks ended mixed Wednesday, as another busy day of earnings gave investors a fresh sense of how companies are coping with an economic slowdown and higher interest rates. The S&P 500 edged down less than a point, ending at 4016.22, as the benchmark index extended its losses into a second day. The Dow Jones Industrial Average rose 9.88 points to 33743.84, finishing less than 0.1% higher after spending most of the day in the red. The Nasdaq Composite dropped 20.91, or 0.2%, to 11313.36.
European Stocks Are Outshining U.S. Peers
  + stars: | 2023-01-10 | by ( Caitlin Mccabe | ) www.wsj.com   time to read: 1 min
Weakness last year in the euro made European stocks cheaper and more attractive to some investors. European stocks have roared back to life, boosted by signs of slowing inflation, falling energy prices and optimism surrounding China’s reopening. Often considered laggards on the global markets stage, stock indexes across the European region in recent months have outperformed. Germany’s DAX index and France’s CAC 40 have each risen 18% or more in the last three months through Monday, more than double the 6.9% gain for the S&P 500. The U.K.’s benchmark FTSE 100 has also surged, putting it just roughly 2% away from reaching a record high.
Add this to the list of ways that markets subverted Wall Street expectations in 2022: It was a year with almost no new record highs for stock indexes. Few analysts or investors expected 2022 to bring a repeat of the mammoth gains seen in 2021—when the S&P 500 notched 70 record-high closes, the most in more than two decades. But the scarcity of milestones in 2022 was almost as stunning, traders say.
Stocks Drop in Final Trading Day of Year
  + stars: | 2022-12-30 | by ( Caitlin Mccabe | Akane Otani | ) www.wsj.com   time to read: 1 min
U.S. stocks inched lower in the final trading session of 2022, closing out a punishing year with further losses. 2022 proved to be one of the worst years for markets in recent history. Stocks and bond prices both fell, exceptional volatility roiled currencies and commodities, and cryptocurrency prices cratered as a series of crises gripped the emerging industry.
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For many customers burned by the whirlwind collapse of FTX, the arrest of founder Sam Bankman-Fried offered them the chance to take a brief sigh of relief—but not much more. Prosecutors and regulators alleged this week that Mr. Bankman-Fried stole billions of dollars from FTX customers in one of the biggest financial frauds in American history. Much of the money, they said, propped up trading firm Alameda Research, also largely owned by Mr. Bankman-Fried.
U.S. stocks pulled back Monday, pushed down by widespread protests across China and hawkish comments from Federal Reserve officials about the path of interest-rate increases. The S&P 500 fell 62.18 points, or 1.5%, to 3963.94. The Dow Jones Industrial Average lost 497.57 points, or 1.4%, at 33849.46. The Nasdaq Composite declined 176.86 points, or 1.6%, to 11049.50.
U.S. stocks rose Wednesday as minutes from the Federal Reserve’s latest meeting showed most officials favored slowing interest-rate increases soon. The S&P 500 gained 23.68 points, or 0.6%, to 4027.26. The Dow Jones Industrial Average added 95.96 points, or 0.3%, to 34194.06. The Nasdaq Composite jumped 110.91 points, or 1%, to 11285.32.
Customers of beleaguered crypto exchange FTX are losing hope they will ever see their money again. The company’s massive financial problems began spilling into the open early this month, and FTX was quick to halt withdrawals from its international unit. American customers had hoped they might be luckier, but many of them haven’t been able to get their money out either.
FTX Hires Bank to Sell Salvageable Units
  + stars: | 2022-11-19 | by ( Caitlin Mccabe | ) www.wsj.com   time to read: 1 min
FTX said it would look in coming weeks to preserve or sell what businesses it can as part of strategic review of the company’s global assets. FTX’s new management hired an investment bank to help the failed cryptocurrency exchange sell viable parts of its business and discovered there were more than 200 accounts containing positive cash balances. A statement released Saturday from John J. Ray , the company’s new CEO, struck a slightly more optimistic tone about the possibility of recovering assets compared with his previous dour assessment. On Thursday, the veteran bankruptcy executive said he had never seen anything as bad as FTX in 40 years in the restructuring business.
Ryan Cohen is the face of an investing revolution that captivated amateur traders, punished Wall Street and favored memes over fundamentals. Many of his other bets belong to a more conservative playbook. The 37-year-old billionaire, who made his fortune with online pet retailer Chewy Inc., gained fame during a period of market frenzy last year when he used a stake in struggling videogame retailer GameStop Inc. to push out the executive team and become chairman. His enigmatic tweets—including a picture of himself with chopsticks up his nose—helped his investment gain viral popularity as a so-called meme stock and motivated his followers to seek revenge against professional traders who had bet against the company.
Cryptocurrency exchange FTX, months after looking like a shining survivor in a struggling industry, succumbed Tuesday to a sudden liquidity crunch of its own and agreed to be taken over by rival Binance. The deal signals a power shift in the crypto world, which has been hurt by rising interest rates and investors’ retreat from risk. The pact marks a victory for Binance founder Changpeng Zhao and a humbling comedown for Sam Bankman-Fried, the founder of FTX, which had been growing in size and recognition before a clash between the two men set off a series of events that shook investor confidence in his firm.
Cryptocurrency exchange FTX, just months removed from looking like a shining survivor in a struggling industry, succumbed Tuesday to a sudden liquidity crunch of its own and was taken over by rival Binance. The deal signals a power shift in the crypto world, which has been decimated by rising interest rates and investors’ retreat from risk. The pact marks a victory for Binance founder Changpeng Zhao and a humbling comedown for Sam Bankman-Fried, the founder of FTX, which had been growing in size and recognition before a clash between the two men set off a series of events that shook investor confidence in his firm.
Stock Futures Inch Up to Kick Off Busy Earnings Week
  + stars: | 2022-10-24 | by ( Caitlin Mccabe | ) www.wsj.com   time to read: 1 min
U.S. stock futures crept higher as investors awaited a busy stretch of corporate earnings and evaluated the prospect of smaller interest-rate increases later this year. Futures tied to the S&P 500 rose 0.3% Monday, while those tied to the Dow Jones Industrial Average gained 0.3%. Contracts tied to the technology-focused Nasdaq-100 edged up 0.1%.
Dow Closes at Highest Level in Six Weeks
  + stars: | 2022-10-24 | by ( Caitlin Mccabe | Alexander Osipovich | ) www.wsj.com   time to read: 1 min
U.S. stocks gained on Monday as investors focused on encouraging signs from corporate earnings and hopes that the Federal Reserve would slow the pace of interest-rate increases. The Dow Jones Industrial Average climbed 417.06 points, or 1.3%, to 31499.62, its highest closing level in six weeks.
Stocks Drop After Wild Surge on Wall Street
  + stars: | 2022-10-14 | by ( Caitlin Mccabe | Akane Otani | ) www.wsj.com   time to read: 1 min
U.S. stocks fell Friday, the latest U-turn for markets after a volatile week marked by big swings in both directions. Stocks fell to start the week, then tumbled again early Thursday after data showed inflation rose more than expected in September—a major setback for investors who had hoped for a report that might give the Federal Reserve space to slow down its rapid pace of interest-rate increases.
Jason ZweigJason Zweig writes The Intelligent Investor column every weekend for The Wall Street Journal. He also writes Back in Business, an occasional column about financial history. Jason is the author of “Your Money and Your Brain,” on the neuroscience of investing, and the editor of the revised edition of Benjamin Graham’s “The Intelligent Investor,” the classic text that Warren Buffett has described as “by far the best book about investing ever written.”Before joining the Journal, Jason helped the Nobel Prize-winning psychologist Daniel Kahneman write the book “Thinking, Fast and Slow.”Earlier, Jason was a senior writer for Money magazine, a guest columnist for Time magazine and CNN.com, and a senior editor at Forbes magazine. He spent a year studying Middle Eastern history and culture at the Hebrew University in Jerusalem.
Stocks turned lower after producer-price data came in hotter than expected, disappointing investors who had hoped for signs of easing inflation before the Federal Reserve’s meeting next week. The S&P 500 fell 29.13 points, or 0.7%, to 3934.38 Friday after wavering for much of the day. The Dow Jones Industrial Average was down 305.02 points, or 0.9%, to 33476.46. The technology-focused Nasdaq Composite slipped 77.39 points, or 0.7%, to 11004.62.
Stock Futures Rise Ahead of Producer-Price Data
  + stars: | 2022-09-12 | by ( Caitlin Mccabe | ) www.wsj.com   time to read: 1 min
Stock futures rose ahead of supplier-price figures that will offer one of the final looks at U.S. inflation before the Federal Reserve’s next interest-rate decision. Futures tied to the S&P 500 rose 0.4% Friday, while those for the Dow Jones Industrial Average added 0.2%. Contracts tied to the technology-focused Nasdaq-100 gained 0.5%.
U.S. stocks sold off sharply Wednesday, snapping a three-day winning streak, as investors wrestled with uncertainty around midterm-election results and turmoil in cryptocurrency markets. The S&P 500 shed 79.54 points, or 2.1%, to close at 3748.57. The Dow Jones Industrial Average dropped 646.89 points, or 2%, to 32513.94. The technology-focused Nasdaq Composite Index dropped 263.02 points, or 2.5%, to 10353.17.
Stocks Fall as Midterm Results Roll In
  + stars: | 2022-09-11 | by ( Caitlin Mccabe | Hannah Miao | ) www.wsj.com   time to read: 1 min
U.S. stocks declined Wednesday, putting major indexes on track to pause a three-day rally, as investors awaited midterm election results to see if Republicans would take control of one or both chambers of Congress. The S&P 500 shed 1.6%, while the Dow Jones Industrial Average slipped 1.6%, about 500 points. The technology-focused Nasdaq Composite Index was down 2.2%.
S&P 500 Breaks Five-Day Losing Streak
  + stars: | 2022-08-12 | by ( Caitlin Mccabe | Paul Vigna | ) www.wsj.com   time to read: 1 min
U.S. stocks rose, with the S&P 500 regaining some ground after five consecutive sessions of losses triggered by worries about how severe an economic downturn might be. The S&P 500 advanced 29.59 points, or 0.8%, to 3963.51 on Thursday. The Dow Jones Industrial Average gained 183.56 points, or 0.5%, to 33781.48. The Nasdaq Composite added 123.45 points, or 1.1%, to 11082.00.
U.S. stocks rose Monday ahead of a crowded week of corporate earnings, inflation data and midterm elections that could see a shift to Republican control of one or both chambers of Congress. The Dow Jones Industrial Average gained 423.78 points, or 1.3%, to 32827. The S&P 500 advanced 36.25 points, or 1%, to 3806.80, while the technology-heavy Nasdaq Composite rose 89.27 points, or 0.9%, to 10564.52.
Stock futures rose ahead of a crowded week of corporate earnings, inflation data and midterm elections that could see a shift to Republican control of one or both chambers of Congress. Futures tied to the S&P 500 advanced 0.5% Monday, while those tied to the Dow Jones Industrial Average gained 0.5%. Contracts tied to the technology-focused Nasdaq-100 rose 0.6%.
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