This ‘single greatest predictor of future stock-market returns’ has fallen sharply — and that’s a bullish sign

CHAPEL HILL, NC – A good chunk of the bull market’s excesses have been worked off, according to the “Single Greatest Predictor of Future Stock Market Returns.” And that’s good news. I’m referring to the indicator, first proposed by the Philosophical Economics blog in 2013, that is based on the average household’s portfolio allocation to … Read more

Growling Powell causes Goldman to cut its S&P 500 price target. Again.

During the height of the bull market – which, boy, seems so long ago – the call-option crazy punters inhabiting the Wallstreetbets channel had a favorite meme to explain why stocks would keep going higher. “Money Printer Go Brrr” featured a Rambo-esque Jay Powell, chair of the Federal Reserve, determinedly firing out greenbacks to whoever … Read more

Growling Powell causes Goldman to cut its S&P 500 price target. Again.

During the height of the bull market – which, boy, seems so long ago – the call-option crazy punters inhabiting the Wallstreetbets channel had a favorite meme to explain why stocks would keep going higher. “Money Printer Go Brrr” featured a Rambo-esque Jay Powell, chair of the Federal Reserve, determinedly firing out greenbacks to whoever … Read more

High Natural-Gas Prices Push European Manufacturers to Shift to the US

AMSTERDAM—A big winner from the energy crisis in Europe: the US economy. Battered by skyrocketing gas prices, companies in Europe that make steel, fertilizer and other feedstocks of economic activity are shifting operations to the US, attracted by more stable energy prices and muscular government support. As wild swings in energy prices and persistent supply-chain … Read more

Gold attempts bounce off April 2020 low as Russia steps up Ukraine war

Gold found a modicum of haven-related buying interest Wednesday after Russian President Vladimir Putin ordered reservists to mobilize and made remarks seen as a threat to use nuclear weapons as he escalated the war in Ukraine. But the upside remained constrained as investors awaited the conclusion of a Federal Reserve policy meeting that’s expected to … Read more

Food Supply Stays Tight as Disappointing US Harvest Adds to Global Challenges

A lackluster US harvest this year is setting back efforts to relieve a global food supply that has been constrained by Russia’s war in Ukraine, agriculture-industry executives said. Senior executives from companies such as Bayer AG BAYRY 0.99% Corteva Inc., CTVA 0.11% Archer Daniels Midland co. ADM 3.02% and Bunge Ltd. BG 2.01% said worldwide … Read more

Celanese Corp. stock rises Monday, outperforms market

Shares of Celanese Corp. CE, +1.36% advanced 1.36% to $103.82 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +0.69% rising 0.69% to 3,899.89 and the Dow Jones Industrial Average DJIA, +0.64% rising 0.64% to 31,019.68. The stock’s rise snapped a four-day losing … Read more

Big Regional Banks Might Face New Rules for Dealing With a Crisis

WASHINGTON—A group of President Biden-appointed bank regulators are considering new rules to require large regional banks to add to financial cushions that could be called on in times of crisis. The steps under consideration include requirements that the regional firms raise long-term debt that can help absorb losses in case of their own insolvency, according … Read more

Overlooked by Investors, Royalties Are Fetching Princely Sums

ADELAIDE, Australia—A rush of deals for royalties on resources projects is drawing attention to an asset that many investors didn’t even know about. Elevated commodity prices have helped companies including South32 Ltd. Glencore PLC and Rio Tinto PLC raise hundreds of millions of dollars from sales of royalties that had long been on the balance … Read more

Why This Top Mid-Cap Manager Still Likes Tech Stocks

Alger Mid Cap Focus fund manager Amy Zhang. Photograph by Clark Hodgin Text size Mid-cap companies are usually defined as having a market capitalization of $2 billion to $10 billion, but Amy Zhang prefers to measure by revenue instead. As the portfolio manager of the $475 million Algae Mid Cap Focus fund (ticker: AFOZX), Zhang … Read more