Latest financial and economic news and analysis
"Pessimists threw in the towel and optimism was running amok today," said Nations Indexes president Scott Nations.
Fed's Kashkari says 'now is the time to start slowly moving' rates up
Private companies added 44,000 jobs in July, a slowdown from the 95,000 the prior month and below market expectations, ADP reported Wednesday. Virtually all of the job gains came from healthcare related sectors, with goods-producing industries seeing a net loss.
It's August, not April, but tech stocks are powering markets higher once again.
Payment technology company Global Payments cut its annual net revenue and profit forecasts on Wednesday amid economic uncertainty linked to the war in the Middle East.
The balanced stock-bond portfolio is defying the widespread argument that it is no longer an appropriate approach.
Microsoft vs. Meta - The market rewarded the one that showed the returns.
US stock futures were mixed on Wednesday as optimism over a possible Middle East agreement supported the Dow and S&P 500, while post-earnings selling in SpaceX and AMD weighed on the Nasdaq. At 7:00 am ET, Dow futures rose 195 points and S&P 500 contracts gained 0.41%, while Nasdaq 100 futures slipped 0.02%.
Two months ago, the S&P 500 was rising so quickly it raised the prospect the index could see a breakdown in the relative period of order the index established since the end of 2023. After peaking on 2 June 2026, the S&P 500 has reverted toward its established mean trajectory.
Its sales were driven by higher-than-expected demand for Mounjaro and Zepbound, its GLP-1 drugs for Type 2 diabetes and weight loss.
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The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, increased to 6.81% from 6.76% Applications to refinance a home loan fell 2% for the week and were 9% lower than the same week one year ago.
Plus: SEC climate rule rescission faces investor opposition, OpenAI settles with Justice Department over U.S. worker discrimination claims
Investors are pouring money into U.S. healthcare stocks, betting that improving earnings, rising dealmaking and attractive valuations will extend the sector's rebound after years of underperformance.
Toast is positioned as the 'Operating System' for restaurants, offering integrated POS and management solutions. I rate TOST a cautious buy ahead of earnings, citing high growth and improving profitability but noting restaurant industry headwinds. Valuation remains elevated with GAAP P/E at 48.46 and PS at 2.93, yet strong 23.44% YOY revenue growth and improving FCF support the thesis.