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Market News

Location American Market News for 3 March 2020
Target outpaced earnings expectations, but revenue fell short because of weak sales of toys, electronics and home goods over the holidays.
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Saudi Arabia's sovereign-wealth fund has hired a former McKinsey consultant to help run its strategy, turning to an expatriate with longstanding ties to the kingdom, according to people familiar with the matter, after cy...
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Rate Cut Between Meetings Is First Surprise Move Since 2008, But Will It Provide Support? Something for retail investors to consider: You can't let one or two days affect your long-term thinking. We were repricing stocks last week based on the virus, and now there's another repricing going on reflecting lower...
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Rest In Peace, Fed's Dual Mandate, Aged 106 Years Old The Federal Reserve's dual mandate of maximizing employment and stabilizing prices, established as the central bank's two primary objectives in its creation in 1913, died Tuesday. It was 106 years old. Cause of death? Tr...
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Why Robinhood's Outage Was A Blessing For Its Millennial Customers 'The biggest determinant of success in investing is time in the market, not timing the market.'
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U.S. Supreme Court justices indicated they may be inclined to rein in how courts and regulators order wrongdoers to return money earned through illegal investment schemes.
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The yield hit a record low as investors looked to buy safer assets after the Federal Reserve moved sooner than expected to reduce interest rates.
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Why Google's Waymo Picked Up Some Passengers

Wall Street Journal - 3 Mar 2020 20:34
Google parent lines up outside investors for Waymo as autonomous cars still have a long road ahead.
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Fidelity Reports Record Profit, Revenue

Wall Street Journal - 3 Mar 2020 19:53
The financial firm posted new records in annual profit and revenue, as market gains and its broad reach to millions of investors have helped it thrive during a tumultuous time for the money-management industry.
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Helping To Make Sense Of The Stock Market Swoon During periods of stock market turbulence, the key is to focus on the source of investment returns. Hint: it is not the stock market.
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Surprise Rate Cuts Are No Miracle Cure

Wall Street Journal - 3 Mar 2020 19:31
The Fed can support the economy in the fight against the coronavirus but can't lead it.
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ANF Stock Attempts Rebound Ahead Of Earnings Abercrombie & Fitch Co. (ANF) is attempting a climb higher ahead of the company's fourth-quarter earnings report
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Crude Prices Rise After Fed Cuts Rates

Wall Street Journal - 3 Mar 2020 18:56
Crude prices rose after the Federal Reserve cut interest rates in a bid to stem the potential economic fallout of the coronavirus epidemic.
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What the Fed's Interest Rate Cut Means for You

Wall Street Journal - 3 Mar 2020 18:34
Interest rates affect the cost of borrowing, so the Federal Reserve's surprise rate cut Tuesday can ripple through the cost of mortgages and the interest earned on savings accounts and more.
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The Fed's Emergency Rate Cut Is Just Another Lame Attempt To Inflate Equity Values The Fed continues to fight like hell to maintain the inflation of the asset bubble that it has created.
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Cannabis Stocks Take a Hit

Wall Street Journal - 3 Mar 2020 18:19
Pot stocks are having a lousy week, compounding sharp losses over the past year for the once-hot sector.
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Earnings Preview: What To Expect From Splunk On Wednesday Splunk is expected to report earnings of $0.96/share on $783.94 million in revenue. Meanwhile, the so-called Whisper number is $1.00/share. The Whisper number is the Street's unofficial view on earnings.
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Earnings Preview: What To Expect From Costco On Thursday Costco is expected to report earnings of $2.06/share on $38.34 billion in revenue. Meanwhile, the so-called Whisper number is $2.10/share. The Whisper number is the Street's unofficial view on earnings.
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Just ahead of an emergency Federal Reserve rate cut, big banks' demand for Fed temporary liquidity shot higher and exceeded what the central bank was willing to provide as financial markets remained deeply unsettled.
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Central bankers can't cure coronavirus. The question is, what use is yet more cheap money for an economy suffering from broken supply chains and from consumers and businesses hunkering down?
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Sharp Fed Rate Cut Warranted, But Trump's Meddling Makes Its Job Harder Trump's Fed meddling makes Jay Powell's job so much harder--and harms the institution long term.
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Fed Cuts Rates To Combat Coronavirus Impact On Markets, Trump Calls For 'More Easing And Cutting' 'The coronavirus poses evolving risks to economic activity,' says the Fed.
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