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Market News

Location American Market News for 18 May 2021
Macy's reported a surprise profit for its fiscal first quarter and raised its outlook for the full year.
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JPMorgan Puts CEO Contenders in Charge of Consumer Operation

Wall Street Journal - 18 May 2021 15:49
JPMorgan Chase is promoting two of the contenders vying to succeed CEO Jamie Dimon in charge of its sprawling consumer-banking operation, further cementing them as front-runners to one day run America's biggest bank.
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Trump Allies Promote Portfolios Targeting 'Unwoke Investors'

Wall Street Journal - 18 May 2021 15:00
A group of conservative money managers is seeking to woo investors disgruntled by increased involvement by some companies in political and social issues.
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The Bitcoin Versus Gold Debate May Quickly Reverse Course Money is aggressively moving OUT of bitcoin (the antithesis of a "hard asset" preservation of buying power), and INTO gold (the historic battle-tested hard asset preservation of buying power).
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Macy's sales grew to $4.7 billion in the latest quarter, helping it to turn a surprise profit and prompting it to raise its forecast for the year.
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Online Sales Party Starts Winding Down

Wall Street Journal - 18 May 2021 20:03
E-commerce sales from both online and traditional retailers are still growing, but could start losing momentum quickly.
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Joe Salama will split his time between Frankfurt and the U.S., as the bank tries to keep a close relationship with U.S. authorities.
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How much tax do you pay on equity investments?

livemint.com - 18 May 2021 18:39
How much tax do you pay on equity investments? Given that different equity assets have different tax rules, an investor must take a careful look at the suitability of an investment in terms of taxes too
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Just over one year after raising its U.S. minimum wage to $20 an hour, Bank of America said it plans to raise its hourly minimum to $25 by 2025.
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Inflation's Magic Number Is Four

Wall Street Journal - 18 May 2021 18:23
Stocks often fall after inflation breaches 4%, and there is a good reason.
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An architect handles the impact of the lockdown on ongoing projects Mumbai-based Sharad Kumar feels the pinch of covid restrictions that have hit the construction industry hard
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Hertz, the Original Meme Stock, Rewards Its True Believers

Wall Street Journal - 18 May 2021 18:08
Small investors jumped in last year after a chapter 11 filing, which usually spells doom for shareholders. Now, they stand to be rewarded as the rental-car company emerges from bankruptcy.
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Walmart Gets Back to Basics as Grocery Sales Grow

Wall Street Journal - 18 May 2021 17:58
Investors may need to see a couple more quarters of unquestionable market share gains in the grocery aisles before Walmart can close its valuation gap with some peers.
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Investors Need to Get the Measure of Carbon

Wall Street Journal - 18 May 2021 13:16
The time has come for investors to think about greenhouse-gas emissions separately from other environmental, social and governance criteria.
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Duke Energy Shake-Up Idea May Be Too New, Too Late

Wall Street Journal - 18 May 2021 13:00
Duke Energy's shares barely moved after activist investor Elliott Management unveiled a letter seeking changes at the utility giant.
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Futures pointed to gains for stocks, led by technology shares.
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Should you buy Bajaj Capital's covid policy that has no cool-off period? The company has partnered with Go Digit General Insurance to offer customized covid-19 health insurance policy exclusively to clients of the company
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Southeast Asia's Battle of the $40 Billion Superapps

Wall Street Journal - 18 May 2021 12:10
Another big internet platform deal shows that the region is well placed to be the next tech hot spot as regulation in China tightens.
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Shares of Home Depot have risen 20% so far this year, giving it a market value of $343 billion.
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Walmart's first-quarter earnings report will show whether it has been able to sustain sales growth, particularly in its e-commerce business.
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Online retailers' discounts diminish amid pandemic

livemint.com - 18 May 2021 11:33
Online retailers' discounts diminish amid pandemic According to a research note on the recent inflation numbers produced by the State Bank of India, online retailers have started selling more items at the maximum retail price as more people are buying essentials online a...
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U.S. Bank Stocks Shine as Investors Bet on Recovery

Wall Street Journal - 18 May 2021 11:33
Investors, eager to get exposure to an economic recovery, are pouring into bank stocks like never before, putting the stocks on track for what could be their best year on record compared with the S&P 500.
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