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Market News

Location American Market News for 13 January 2023
Brokers and financial advisers are steering clients to assets that don't trade. Such securities can often be dodgy, sometimes lose all their value--and getting out is a lot harder than getting in.
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Japan's 10-Year Government Bond Yield Breaches New Cap

Wall Street Journal - 13 Jan 2023 08:28
Strong inflation data have sparked speculation among investors that the BOJ will lift the cap again, or even scrap its yield-curve control policy altogether.
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Bank of America saw yearly gains in net interest income thanks to higher rates in the fourth quarter.
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China's Housing Market Will Revive but Might Not Thrive

Wall Street Journal - 13 Jan 2023 12:33
The nation's housing market, a driver of global growth, will rebound this year. But its foundation is weaker than before the crisis.
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Delta and other airlines had said demand remained strong throughout the quarter.
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SEC Sues Crypto Firms Genesis and Gemini Over Lending Product

Wall Street Journal - 13 Jan 2023 02:20
The regulator said the two companies should have followed federal investor-protection laws to market Gemini Earn.
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Lithium Was The Best Performing Commodity For The Second Straight Year Lithium may not be a household-name metal like gold and copper, but that's changing fast.
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Going Private: Vista Takes Duck Creek In An All-Cash Purchase Investment firm Vista Equity Partners recently announced that it would acquire Duck Creek, causing shares to balloon by almost 50%.
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Last Year Was Horrible In Retail, But This One Looks Worse Bed Bath & Beyond is the latest brick and mortar retailer finding itself heading toward Chapter 11 due to declining sales and changing consumer habits, but there's more distress on the way.
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U.S. Could Run Out Of Cash By Early June If Debt Limit Isn't Raised, Yellen Warns "Failure to meet the government's obligations would cause irreparable harm to the U.S. economy," Yellen wrote in a Friday letter to lawmakers.
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Recession Now Seems More Likely Than Not--Here's What Big Bank Earnings Revealed About The Economy Wells Fargo profits tanked 50% last quarter, and JPMorgan is now eyeing a "mild recession" in the fourth quarter.
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Bank Earnings Kick Off

Forbes - 13 Jan 2023 18:03
Bank Earnings Kick Off Overnight, bank stocks began reporting with mixed results.
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Citigroup reported fourth-quarter earnings on Friday. Here's how they did.
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What To Expect From Netflix's Q4 Results?

Forbes - 13 Jan 2023 16:00
What To Expect From Netflix's Q4 Results? This would mark year-over-year growth of about 4%, although it would be down from close to 16% growth in the same quarter last year.
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Layoff News: Stitch Fix To Replace CEO And Cut 20% Of Workforce Stitch Fix recently announced that it would replace its current CEO with its former CEO, and cut 20% of its salaried workforce, this is on top of the 15% of salaried employees laid off last spring. Here's what it means f...
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Why Your Favorite Restaurant Might Close

Wall Street Journal - 13 Jan 2023 15:27
Chains weathered the pandemic better than independent eateries, and they might do better in an economic slowdown too.
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Goldman Lost $3 Billion on Consumer Lending Push

Wall Street Journal - 13 Jan 2023 15:23
The newly disclosed figure reveals a costly toll since 2020 of the Wall Street firm's push to build out Main Street businesses.
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Pick Either Merck Stock Or Its Peer - Both May Offer Similar Returns We believe that pharmaceutical giants Merck stock (NYSE: MRK) and Pfizer stock (NYSE: PFE) will likely offer similar returns over the next three years.
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Gold Stocks Are Rising In 2023 - Should You Add Precious Metals To Your Portfolio? In 2022, gold prices were hindered by aggressive Federal Reserve rate hikes, diminished demand in China, and the rising value of the U.S. dollar. As the dollar softened in December, gold prices trended up. Will the trend...
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Carvana Cuts Workers Amid Debt Squeeze

Wall Street Journal - 13 Jan 2023 15:00
Carvana is cutting staff during a continuing sales slowdown, as it tries to conserve cash to keep up with payments on $7 billion of debt.
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JPMorgan, the biggest U.S. bank by assets, now expects a recession as its most likely scenario.
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The disappointing earnings report came after Wells Fargo said earlier this week that it would retrench from the U.S. mortgage market.
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