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U.S. stock-index futures on Tuesday pointed to Wall Street bouncing off a 21-month low and snapping a five-day losing streak as recent volatility in global bond and currency markets subsided. How are stock-index futures trading Futures on the Dow Jones Industrial Average YM00, +1.06% climbed 321 points, or 1.1%, to 29,664. S&P 500 futures ES00, … Read more
Text size Investors are staring at a ‘lost decade.” NYSE After four decades of incredible performance, the stock market could be at the beginning of a lost decade. Yes, the S&P 500 has dropped 2.5% on Friday, and is down 23% in 2022. But it’s impossible to overstate just how good stock market returns have … Read more
Updated Sept. 25, 2022 1:25 pm ET Listen to article (2 minutes) It is the worst year for buying the stock-market dip since the 1930s. Instead of rebounding after a tumble, stocks have continued to fall, burning investors who stepped in to buy shares on sale. The S&P 500 has dropped 1.2% on average this … Read more
HSBC has trimmed front-line staff from its investment bank in the UK, as a dealmaking slump this year is set to prompt a fresh round of layoffs across the sector. The UK lender, which is in the midst of an ongoing cost-cutting exercise unveiled in February 2020, has axed a handful of roles within its global … Read more
Credit Suisse is set to extend retention bonuses to a select band of senior dealmakers in London in a bid to stem defections as it embarks on a fresh cost-cutting programme. The Swiss bank will pay dealmakers in Europe and the UK additional bonuses in the coming weeks, according to people familiar with the matter, after … Read more
Credit Suisse could split its struggling investment bank into three parts, a move that would involve thousands of job cuts as the Swiss bank reshapes its business. The bank has drawn up plans to split its beleaguered investment banking unit, including creating a so-called ‘bad bank’ to hive off unwanted assets, the Financial Times reported … Read more
Hashtags about a stock-market crash may be trending on Twitter, but the selloff that has sent U.S. equities into a bear market has been relatively orderly, say market professionals. But it’s likely to get more volatile — and painful — before the market stabilizes. It was indeed a white-knuckle ride for investors Friday as the … Read more
Funds investing in the metaverse are now managing more than $2bn globally, as a flurry of launches from some of Europe’s biggest asset managers look to take advantage of a hot investment trend. Data from Morningstar, provided to Financial News, shows a sharp increase in assets managed by funds focused on immersive virtual worlds, as well as in the … Read more
Text size Japan has had to intervene to support the sliding yen for the first time since 1998, even as it tries to keep its interest rates low. Akio Kon/Bloomberg The world has been hooked on cheap money for years. Now we’re witnessing what withdrawal looks like. Lifting interest rates from nil has produced a … Read more
Ahead of Volkswagen’s IPO of Porsche AG in a few weeks, hedge fund Millennium International Management has built a large short position in Porsche SE. According to data from research firm Breakout Point, Millennium disclosed a position representing 0.6% of the company’s shares on 14 September. A rough estimate based on current market capitalisation would … Read more