Wall Street Today | Fed's Mester Says More Restrictive Policy Needed for Longer
MACRO
Fed's Mester Says More Restrictive Policy Needed for Longer
Federal Reserve Bank of Cleveland President Loretta Mester said further interest-rate increases are needed to stamp out stubbornly high inflation and officials will need to keep restrictive policy in place for longer to prevent inflation expectations from becoming untethered.
Everything-Selloff on Wall Street Deepens on 98% Recession Odds
Traders fret over strong dollar, earnings outlook, UK turmoil. Ned Davis Research now sees a 98% chance of a looming global recession while Morgan Stanley Wealth Management's Lisa Shalett warns earnings optimists are sleepwalking off a cliff.
SECTORS
Morgan Stanley Says Dollar Surge Tends to End in Crisis
The US dollar's recent rally is creating an "untenable situation" for risk assets including stocks, and in the past this kind of dollar strength has led to some kind of financial or economic crisis, according to one of Wall Street's most vocal bears.
>>Read More
>>Read More
Treasury Yields Surge in Worst Selloff Since March 2020 Crash
US Treasury yields surged on Monday, with poor demand for a two-year note auction triggering renewed selling that propelled key benchmarks higher by more than 20 basis points -- and sent the 10-year rate up by the most since the March 2020 Covid crash.
Commodities Gauge Falls to Lowest in 8 Months on Recession Fears
The Bloomberg Commodity Spot Index, which tracks futures contracts for everything from oil to copper and wheat, fell 1.6% to settle at its lowest level since Jan. 24. The measure has lost almost 22% since peaking in June and has erased all of its gains since Russia's invasion of Ukraine.
COMPANY
Trump-Linked SPAC Changes Address to Ups Store As Investors Pull More Than $130 Million
$Digital World Acquisition Corp(DWAC.US$, the blank-check company set to take Trump Media and Technology Group public, changed its address to a Miami UPS Store in a filing last Friday. As of last Friday, DWAC had lost $138.5 million of its $1 billion in private financing.
>>Read More
>>Read More
Amazon Adds Second Prime Member Sales Event in October
The retail giant on Monday said its 48-hour "Prime Early Access Sale" will take place Oct. 11-12 for members of its Prime subscription program. The two-day event continues a recent trend of Amazon holding sales events over multiple days to maximize its revenue. $Amazon(AMZN.US$
Faraday Future Secures Financing, Strikes Deal With Shareholder
Electric-car startup $Faraday Future Intelligent Electric Inc.(FFIE.US$ has secured up to $100 million in new financing to fund operations after reaching a deal with one of its largest shareholders to resolve a monthslong governance dispute.
Netflix Says It's Opening a Video Game Studio in Finland As Streamer Tries to Boost Audience Numbers
$Netflix(NFLX.US$ said Monday it will be opening an internal game studio in Finland. Netflix Games, which started in November 2021, has purchased three studios. As of August, fewer than 1% of Netflix subscribers were engaging with its games.
Source: Bloomberg, Dow Jones, CNBC
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo News Official Account
In 10 minutes it’s history. At four I’m a dinosaur!
37KFollowers
26Following
38KVisitors
Follow
meruson : great. in other words, technical rebound coming soon.