News

Three catalysts, one reshuffling, and a Fed that refuses to move

Michael Reinking, Senior Market Strategist at the NYSE, recaps a week dominated by Treasury Secretary Bessent, whose doubled liquidity support buybacks reignited the debasement trade, sending gold back above 4,500 and triggering a massive crypto short squeeze that propelled Bitcoin up ~15% and Ethereum up 25%. Escalating Iran tensions pushed ICE Brent into the low 90s after a 60-day ceasefire expired, while equity markets drifted lower with the S&P 500 down ~1.5% as retail earnings disappointed broadly and healthcare surged nearly 4% on landmark cancer trial results from Merck and Moderna. Looking ahead, next week's PCE print, Nvidia earnings, and Fed Chair Warsh's first Jackson Hole speech are the marquee events to watch.

Many Fed officials favor raising rates to combat inflation, bond prices surge, Trump meets crypto execs, and more news to start your day.

US equity indexes rose on Wednesday after most Federal Open Market Committee participants agreed to

US equity indexes rose ahead of the close on Wednesday after the Treasury Department said it would i

US equity indexes rose after midday Wednesday after the Treasury Department said it would increase b

The S&P 500 index was up about 0.3%, while the Nasdaq Composite fell 0.4%.

U.S. stocks rose in early Thursday trading, rebounding from the previous session’s Fed-driven selloff as falling oil prices and optimism surrounding the Iran peace deal boosted investor sentiment.