The 'Magnificent 7' are outperforming other stocks again — here's why
The "Magnificent Seven" tech stocks led the market higher in May as investors searched for safety amid higher rates and economic uncertainty.
The "Magnificent Seven" tech stocks led the market higher in May as investors searched for safety amid higher rates and economic uncertainty.
(Bloomberg) -- Stronger demand at Japan’s 10-year bond sale brought some temporary relief as traders position for another auction in less than 48 hours that will test appetite for longer-dated debt.Most Read from BloombergWhere the Wild Children’s Museums AreBillionaire Steve Cohen Wants NY to Expand Taxpayer-Backed FerryThe Economic Benefits of Paying Workers to MoveAt London’s New Design Museum, Visitors Get Hands-On AccessLA City Council Passes Budget That Trims Police, Fire SpendingGovernmen
This follows similar moves by Goldman Sachs and UBS Global Wealth Management, which raised their forecasts in May, with RBC Capital Markets joining the trend on Monday. "We now see the tariff drag at only about one-third of what we previously penciled in," Deutsche Bank strategists led by Binky Chadha wrote in a note on Monday. The new target is 10.35% above the S&P 500 index's last close of 5,935.94.
Japanese equity funds logged their largest weekly outflows in nearly 18 years in the week to May 28, as investors either booked profits following a rally fueled by the then-easing U.S.-China trade tensions or turned cautious on earnings potential. According to LSEG Lipper data, Japanese equity funds recorded net outflows of $7.49 billion, marking the largest weekly withdrawal since July 4, 2007. Daisuke Motori, director of manager research at Morningstar Japan, said the outflows from Japanese equity funds in May reflected a familiar pattern, with investors buying during April's dip and selling into the May rebound.
(Bloomberg) -- Gold dipped as the dollar strengthened ahead of US labor data later this week that will help steer the Federal Reserve’s monetary policy.Most Read from BloombergWhere the Wild Children’s Museums AreBillionaire Steve Cohen Wants NY to Expand Taxpayer-Backed FerryThe Economic Benefits of Paying Workers to MoveAt London’s New Design Museum, Visitors Get Hands-On AccessLA City Council Passes Budget That Trims Police, Fire SpendingBullion declined as much as 0.8% following the biggest
LONDON (Reuters) -Surging government debt levels are becoming a pressure point for big economies and bond investors have their sights on those not doing enough to improve their finances. A Moody's decision to strip the United States of its last triple-A credit rating last month and weak demand for Japanese auctions moves attention to two of the world's biggest economies. A debt crisis may not be the base case, but warning bells are starting to ring.
Shares rose early Tuesday in Asia after U.S. stock indexes drifted closer to records, while oil prices extended gains. Beijing and Washington dialed back trade friction as the U.S. extended exemptions for tariffs on some Chinese goods, including solar manufacturing equipment, that U.S. industries rely on for their own production.
(Bloomberg) -- Tom Cruise’s film is back on top in China. Mission: Impossible – The Final Reckoning posted the biggest opening for a US film in the country this year, defying trade and geopolitical tensions between Washington and Beijing.Most Read from BloombergWhere the Wild Children’s Museums AreBillionaire Steve Cohen Wants NY to Expand Taxpayer-Backed FerryThe Economic Benefits of Paying Workers to MoveAt London’s New Design Museum, Visitors Get Hands-On AccessLA City Council Passes Budget T
SINGAPORE (Reuters) -Asia shares edged slightly higher on Tuesday while the dollar fell to a six-week low as erratic U.S. trade policies clouded market sentiment and investors turned defensive ahead of key developments later in the week. U.S. President Donald Trump and Chinese leader Xi Jinping will probably speak this week, White House Press Secretary Karoline Leavitt said on Monday, days after Trump accused Beijing of violating an agreement to roll back tariffs and trade restrictions.
While global equity markets have broadly recovered in the wake of the on-again, off-again saga of Trump's tariff threats, the greenback remains firmly on the back foot. U.S. duties on imported steel and aluminium are set to double to 50% starting on Wednesday, the same day the Trump administration expects countries to submit their best offers in trade negotiations. "What this whole dynamic is basically saying is trade tensions are not really improving in that regard, and we've seen the dollar getting hammered widely," said Rodrigo Catril, senior FX strategist at National Australia Bank.