The selling came amid growing speculation on Wall Street that an unexpectedly strong pickup in U.S. employment growth last month may keep the Federal Reserve from aggressively cutting its benchmark interest rate. Many investors still expect a cut of a quarter of a percentage point, but fewer are now expecting a half-point reduction.
The S&P 500 fell 14.46 points, or 0.5%, to 2,975.95 on Monday, down about 0.7% from the all-time high it set Wednesday. Investors will be listening closely for any hints on the Fed’s interest rate policy Wednesday and Thursday, when Fed chief Jerome Powell delivers the central bank’s semiannual monetary report to Congress.
Expectations are generally low, and this could be the first time in three years that the companies in the S&P 500 report a back-to-back decline in overall earnings, according to FactSet. Deutsche Bank was among the market’s more notable movers Monday. Its U.S.-traded shares tumbled 6.1% after the struggling German company disclosed plans to cut 18,000 jobs by 2022 as it shrinks its investment banking division. It said the move is part of a sweeping restructuring aimed at restoring consistent profitability and improving returns to its shareholders.
No one tweeted about that 🤔🤭
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
As Stocks Surge to Records, Nervous Investors Buy Bonds, TooIndividuals are on track to purchase a majority of the U.S. government’s newly issued longer-term debt this year for the first time since the Treasury Department began publishing data. Me I’m a buyer The WSJ has been predicting a stock market crash for a few years now. Y ask Y bonds have nothing going for them theses day.other then nervous investors .relax read Motley Fool get schooled fools
Source: WSJ - 🏆 98. / 63 Read more »
Global Stocks Fall as U.S. Rate-Cut Prospects RecedeShare indexes fell on Monday, as the strength of the U.S. labor market prompted investors to reconsider how far and how fast the Federal Reserve might cut interest rates. How come all the random sell offs even gold & bitcoin Had treasury asset seizure list go up? Anyone ever figure out what Trump’s doing with the TRILLIONS seized & Sold already? Did We Keep The hard gold, sell the paper & FLIPPING THE “FED”? TRILLIONS & TRILLIONS just POOF🤑
Source: WSJ - 🏆 98. / 63 Read more »
Swiss stocks are collateral damage in a worsening trade rowSwitzerland bans trading of its shares outside its borders in response to the EU’s strong-arm tactics I don't like my face so i'll cut off my nose. 👏
Source: TheEconomist - 🏆 6. / 92 Read more »
US stocks drop on lower odds for steep Fed rate cutStocks are down on Wall Street in morning trading amid growing speculation among investors that unexpectedly strong U.S. employment data may keep the Federal Reserve from aggressively cutting interest rates How can an economy be strong and the need to cut interest rates exist? Im afraid if we get another recession It’s almost as if they know that a down market increases the likelihood of a rate cut, which then leads to a bigger bump in stock prices. A skeptical, critically thinking individual may think they’re gaming the system. But, of course, Wall Street wouldn’t do that.
Source: ABC - 🏆 471. / 51 Read more »
The 5 Worst Stocks So Far This YearWith the first half of 2019 now history and the Fourth of July holiday upon us, it’s time to take stock of how stocks have fared so far. Check out Nordstrom, Gap, Mylan, and other bottom-performing stocks.
Source: MarketWatch - 🏆 3. / 97 Read more »