US stocks climb as strong economic data bolster sentiment ahead of Powell speech

U.S. stocks rose on Thursday, with major benchmarks heading for back-to-back gains after a string of strong economic data as investors awaited news from Federal Reserve Chairman Jerome Powell on Friday. How Stocks Trade S&P500 SPX rose 42 points, or 1%, to 4,183. Dow Jones Industrial Average DJIA advanced 150 points, or 0.5%, to 33,116. … Read more

Heroism fueled or not, the S&P 500 level is destined for another test of lows. These are the levels to watch, says this strategist

In the words of the great Bonnie Tyler: “It has to be safe, and it has to be soon, and it has to be larger than life.” The hero this market is waiting for is Fed Chairman Jerome Powell and he speaks on Friday, so it’s soon. Whether he is sure remains the question. “The … Read more

A new supercycle is emerging for the economy, and stocks will benefit, strategist says

It’s been an interesting summer for financial markets – more or less a series of mostly pessimistic economic data has traders thinking the Fed will ease the pedal, although over the past week they’ve been less and less convinced of this point of view. Taking a longer lens, Dario Perkins, managing director of global macroeconomics … Read more

Once the Worst Yield on Wall Street, Cash Now Seems to Be the Best Asset to Own, According to Morgan Stanley

Equity sellers are poised to pick up where they left off on Friday as the market appears to wake up from its August slumber with a vengeance. As Goldman Sach’s Chief U.S. Equity Strategist David Kostin told his clients after the S&P 500 SPX took just 17 weeks to hit its year-end target of 4,300, … Read more

US home sales fell in July; some buyers see the silver lining

ANGELS — The decline in the housing market after its high-flying days at the start of this year is worsening, with July home sales falling for the sixth month in a row. Significantly higher mortgage rates, runaway inflation and prices that remain near historic highs are making homes less affordable. Sales fell 20.2% from July … Read more