Investors may be whistling past the graveyard of a recession with latest rally in stocks

Investors feeling giddy about last week’s sharp rally for stocks might want to give a listen to Tom Waits’ song, “Whistlin’ Past the Graveyard” from 1978, to sober up for the dangers that still lurk ahead. The surge in stocks catapulted the S&P 500 index SPX, +0.92% almost back to the 4,000 mark on Friday, … Read more

Fed says it may hike interest rates at slower pace, but destination is now 5% or higher

The Federal Reserve on Wednesday approved the fourth straight jumbo increase in a key U.S. interest rate and signaled rates are likely to go higher than previously forecast. News of a higher terminal rate overshadowed more dovish comments from the central bank statement that it might move more slowly to better evaluate the effects on … Read more

Another jumbo Fed rate hike is expected this week — and then life gets difficult for Powell

First the easy part. Economists widely expect Federal Reserve monetary-policy makers to approve a fourth straight jumbo interest-rate rise at its meeting this week. A hike of three-quarters of a percentage point would bring the central bank’s benchmark rate to a level of 3.75%- 4%. “The November decision is a lock. Well, I would be … Read more

Germany leapfrogs UK to become Europe’s most shorted market as recession fears surge

Germany just leapfrogged the UK to become the most shorted market in Europe as economic worries grip the continent. The German market accounted for about 25% of short positions last month, followed by UK’s 20%, data from SEI Novus shows. The data, which covers pan-European short positions worth over €30bn from more than 150 managers, shows that … Read more

Stocks Lower, Week Ahead, Tesla, Ford, Twitter-5 Things To Know

Here are five things you must know for Monday, October 10: 1. — Stock Futures Mixed As October Rally Faces Inflation Test  U.S. equity futures edged lower Monday, while the dollar consolidated gains against its global peers, as investors extended their retreat from risk markets following an escalation of military action in the Ukraine and … Read more

TCS, Infosys Q2 results, FOMC minutes among major triggers for market next week

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This stock market strategist says the coming recession could be the biggest ever. ‘I recommend prayer.’

Keith McCullough, founder and CEO of Hedgeye Risk Management, isn’t one to mince words about financial markets, the Federal Reserve or the economy. Right now he has a few less-than-charitable things to say about how the Fed’s rate hikes have ground up stock and bond investors. His investment-research firm’s economic models turned bearish on stocks and … Read more

Economist Larry Summers was right before on inflation—and has another contrarian call now

In attempts to get inflation under control, the latest interest rate increase by the U.S. central bank is 0.75%—for the third consecutive time. But some experts, like Harvard economics professor Larry Summers, warn the Fed’s actions are too little and possibly too late. My Fortune colleague Shawn Tully’s new feature article recalls his day with … Read more

Tumbling Markets Imperil Tech, the Dollar, and Private Equity

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

Wharton’s Jeremy Siegel accuses Fed of making one of the biggest policy mistakes in its 110-year history

““I think we’re giving Powell too much praise. … The last two years are one of the biggest policy mistakes in the 110-year history of the Fed by staying so easy when everything was booming.”” — Jeremy Siegel Wharton professor Jeremy Siegel has a bone to pick with Federal Reserve Chair Jerome Powell. The longtime … Read more