Stocks close out tough quarter on economic fears

LONDON ― European markets nudged higher on Friday, gaining some respite from a torrid week as the third quarter drew to a close. The pan-European Stoxx 600 added 0.8% in early trade, with oil and gas stocks climbing 1.9% to lead gains as most sectors and major bourses entered positive territory. Household goods dropped 0.3%. … Read more

Morgan Stanley’s CEO isn’t worried about its stock price. Neither are we

Morgan Stanley (MS) CEO James Gorman said Thursday he’s not worried about the bank’s beleaguered stock price — and that’s a view we share due to our long-term belief in the Club holding’s revenue diversification strategy. “I’m not concerned about it all, where the stock is trading in this environment. Obviously, I feel very good … Read more

Pension fund panic led to Bank of England’s emergency intervention

The Bank of England on Wednesday launched a historic intervention in the U.K. bond market in order to shore up financial stability, with markets in disarray following the new government’s fiscal policy announcements. Bloomberg | Bloomberg | Getty Images LONDON – The Bank of England launched a historic intervention to stabilize the U.K. economy, announcing … Read more

Ken Griffin says Fed has not done enough, must continue on its path to reset inflation expectations

Ken Griffin, Citadel’s founder and CEO, believes the Federal Reserve has more work to do to bring down inflation even after a series of big rate hikes. “We should continue on the path that we’re on to ensure that we reanchor inflation expectations,” Griffin said at CNBC’s Delivering Alpha Investor Summit in New York City … Read more

In this turbulent market, there are opportunities everywhere

In this turbulent market, opportunities abound, according to JPMorgan’s Mary Callahan Erdoes. Stocks have been trading in a bear market this year as investors navigate inflation, Federal Reserve interest rate hikes and talk of a potential recession. On Wednesday, the S&P 500 rebounded after hitting a fresh low for the year in the prior session. … Read more

Stanley Druckenmiller sees ‘hard landing’ in 2023 with a possible deeper recession than many expect

Billionaire investor Stanley Druckenmiller believes the Federal Reserve’s attempt to quickly unwind the excesses it helped build up for a decade with easy monetary policy will not end well for the U.S. economy. “Our central case is a hard landing by the end of ’23,” Druckenmiller said at CNBC’s Delivering Alpha Investor Summit in New York City … Read more

Investors believe aggressive Fed will keep stock market down for the rest of 2022, CNBC survey shows

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, September 26, 2022. Brendan McDermid | Reuters (Click here to subscribe to the new Delivering Alpha newsletter.) The Federal Reserve’s most aggressive pace of tightening since the 1980s is making the majority of Wall Street investors believe stocks will be underwater for … Read more

Cathie Wood’s new fund gives small investors access to the VC market for just $500

Cathie Wood, chief executive officer and chief investment officer, Ark Invest, speaks during the Milken Institute Global Conference on May 2, 2022 in Beverly Hills, California. Patrick T. Fallon | AFP | Getty Images Cathie Wood’s Ark Invest launched a new venture capital fund, targeting individual investors with a minimum investment of just $500. The … Read more

Keurig Dr Pepper, CSX, Li Auto and more

Check out the companies making headlines before the bell: Keurig Dr Pepper — The consumer stock fell 1.5% premarket after Goldman Sachs downgraded the stock to neutral from a buy rating. The Wall Street firm said it sees increased risk to Keurig’s margins as commodity inflation, especially related to coffee, remains elevated. Lucid Group — … Read more

PG&E, Lyft, Las Vegas Sands, more

Check out the companies making headlines before the bell: Planet Fitness — Shares of the gym franchise jumped nearly 3% in premarket trading after Raymond James upgraded the stock to strong buy from market perform. The Wall Street firm said the company has a resilient and recession-resistant business with no interest rate risk and very … Read more