Brian Scheid
Senior Reporter at S&P Global
S&P Global Market Intelligence Senior Reporter, Global Markets. Former Platts, Capitol Crude. All opinions my own and mostly on Minnesota baseball.
Articles
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Aug 10, 2024 |
spglobal.com | Brian Scheid
A key portion of the Treasury yield curve has largely returned to flat, more than two years after it inverted and triggered a blaring recession signal. The spread between the 10-year and 2-year Treasury bond yields, which has been negative since July 2022, briefly reached zero earlier this month after a weaker-than-expected jobs report boosted the expectations for multiple Fed rate cuts before the end of 2024. The spread settled at negative 5 basis points Aug. 8.
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Aug 9, 2024 |
spglobal.com | Brian Scheid
Institutions, hedge funds and retail investors continued to sell their stock holdings in July as the equities rally showed signs of fatigue. These three groups sold off a combined net $36.04 billion of stocks in July as the S&P 500 gained just over 1.1% from the end of June, compared to the more than 15.1% rally in the index during the first six months of 2024, the latest S&P Global Market Intelligence data shows.
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Aug 6, 2024 |
spglobal.com | Brian Scheid
The mega-cap technology stocks that have pushed US indexes to multiple all-time highs this year took some of the biggest losses in the August market selloff, stoking speculation that the Magnificent 7 stocks are now beyond their peak. These seven stocks — Apple Inc., Tesla Inc., Alphabet Inc., NVIDIA Corp., Microsoft Corp., Amazon.com Inc., and Meta Platforms Inc. — lost a combined $1.319 trillion in market capitalization, or about 9%, from July 31 through Aug.
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Aug 5, 2024 |
spglobal.com | Brian Scheid
An ongoing rout in equity markets, fueled partly by fears that the Federal Reserve has kept interest rates too high for too long, will not force central bank officials to slash rates before their September meeting, Fed watchers said. However, the Fed is now expected to cut rates significantly more before year-end than previously anticipated. It is unlikely to move earlier unless the stock market's woes spread quickly through the broader economy.
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Aug 1, 2024 |
spglobal.com | Brian Scheid
Rate cuts are coming, but the US Federal Reserve is not ready to say when. With inflation slowly dropping to the Fed's 2% goal, and one of the most robust labor markets in generations starting to soften, Fed Chairman Jerome Powell on July 31 said the first rate cuts since the early days of the pandemic could be approved at the Fed's Sept. 18 meeting.
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Layoffs surge in white collar jobs. Is AI to blame? "If those trends stick in the coming months... that could be evidence in support of the theory that the economy is fundamentally changing due to new technologies," says @juliaonjobs https://t.co/5bwZsPcyPG https://t.co/hbhwr677WE
Fading rate cut expectations push US dollar even higher "If the jobs market remains relatively robust and the Fed cuts rates less than expected, US dollar strength would almost certainly be extended" says Jane Foley w/ @Rabobank https://t.co/0Lz0doyVXE https://t.co/IbtxFZrVQt
Short interest in materials sector rises to highest level since February 2020 https://t.co/hdrCFxVO39 https://t.co/Y7gpRj56Ql