Defensive Sectors Outperform S&P 500 as Growth Concerns Mount
(Reuters) Utilities sector has returned over 6% this year, while staples have gained 2.5%, against a general 8% decline in S&P 500 as investors turn defensive in a tighter economy.…
Mnuchin-Powell Differences a Rare Discord Amid a Struggling Economy
Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell clashed over whether the U.S. should maintain emergency lending programs to support the economy. In a letter to Fed on…
Post-Election Markets Pricing to Shift to Vaccine Progress and Growth Outlook – Goldman
Goldman strategists believe that the financial markets have moved a long way towards pricing in the U.S. election outcome, according to Bloomberg. The strategist points out that attention is now…
U.S. Nonfarm Payroll Gains was higher than Expected. Unemployment Rate Slips to 6.9%
The U.S. nonfarm payrolls rose 638,000 in October, more than expected 530,000, according to the Bureau of Labor Statistics, press release. The unemployment rate declined to 6.9% from September's 7.9%,…
U.S. Initial Jobless Claims Falls, but Tops Expectations
U.S. initial claims for the week ending October 31 was 751,000, down 7,000 from the previous week's revised level, but above expected 735,000, according to the Department of Labor's press…