US stock futures were jittery on Monday as concerns about escalation in the Iran war eclipsed optimism stoked by strong quarterly earnings growth. Dow Jones Industrial Average futures (YM=F) dropped 0.4%, as those on the S&P 500 (ES=F) slipped 0.1%. Meanwhile, contracts on the tech-heavy Nasdaq 100 (NQ=F) were flat following a strong finish to […]
Facts around the balance of imports and exports under President Trump and his tariffs can seem impossibly contradictory. For example, the trade deficit during the last 14 months of President Biden’s time in office is nearly identical to the first 14 months of Trump 2.0. Biden averaged $73.7 billion each month on the way out, […]
We recently took a look at S&P 500 record highs and found that historically, they performed a lot like non-record days. The Nasdaq Composite (^IXIC) and Russell 2000 (^RUT) tell a more complicated story. Outside of the broad large-cap benchmark, record highs have historically been less reliable entry points. Since 1971, the Nasdaq’s median one-year […]
And just like that, I’m off to the land of $6 gas prices. That would be California. I promise to take pictures of Chevron gas signs and post them on my X account, @BrianSozzi, for you Northeastern folks getting off easy with $4 gas. It’s time for an annual tradition: the Milken conference. This one […]
Bankrupt discount carrier Spirit Airlines ceased operations on Saturday, the industry’s first casualty linked to the Iran war, after failing to secure creditor support for a U.S. government bailout plan. The collapse of the carrier following a doubling in jet fuel prices during the two-month-old Iran war will cost thousands of jobs. It is a […]
The folksy wisdom and jokes that were a staple of the Berkshire Hathaway annual meeting for decades when Warren Buffett was leading the show will be missing Saturday, but shareholders still started lining up at midnight outside a Nebraska arena to listen to new CEO Greg Abel. Attendance is down significantly this year with the […]
President Donald Trump said he was sticking with a naval blockade of Iranian ports amid concerns the vital Strait of Hormuz would not reopen anytime soon. “Their economy is crashing, the blockade is incredible,” Trump told reporters at the White House. “Their economy is a disaster. So we’ll see how long they hold out.” Oil […]
Roblox shares plunged 24% in premarket trading on Friday after the company lowered its annual bookings forecast, raising concerns that new safety measures could weigh on user growth for several quarters. The videogame platform warned of “continued short-term friction” from new product changes, including age-based accounts, age verification and expanded content monitoring, that have restricted […]
Financial markets are finding it harder to look past the rising economic costs of the Iran war as the continued closure of the Strait of Hormuz prolongs the world’s biggest-ever disruption to energy supplies. Two months into the conflict, the global economy faces a toxic mix of slowing growth and high inflation – stagflation. Even […]
Federal Reserve Chair Jerome Powell announced Wednesday he will remain at the Fed as a governor after his term as chair ends next month, saying he felt he had no choice but to stay amid a series of legal attacks that are “battering” the central bank. “These legal actions by the administration are unprecedented in […]
US stock futures climbed Tuesday evening as investors braced for a wave of Big Tech earnings and the outcome of a closely watched Federal Reserve meeting that could mark the final one led by Chair Jerome Powell. Futures tied to the S&P 500 (ES=F) edged up 0.1%, while Nasdaq 100 futures (NQ=F) gained 0.1%. Dow […]
President Donald Trump told his aides to prepare for an extended US Naval blockade of the Strait of Hormuz, the Wall Street Journal reported, as the US looks to intensify economic pressure on Iran as the war enters its third month. The president, in meetings with top aides, decided to continue putting pressure on Iran’s […]
