U.S. wage growth, tax-bonuses spark shopping in retail stocks

NEW YORK (Reuters) – U.S. fund managers are betting that rising wages and the effects of the Republican-led corporate tax cut will prove a lifeline to middle-market retailers who have struggled to remain relevant in the age of Amazon. Wells Fargo, CM Advisors and Plumb Funds are among those asset management firms that are increasing […]

U.S. stocks, VIX dance in tandem in break with history

NEW YORK (Reuters) – A rising U.S. stock market normally reduces fear among investors, but the blistering pace of the current rally has instead also driven up the anxiety factor in the market. The S&P 500 Index and the Cboe Volatility Index, which is the main gauge for measuring investor fears that benchmark stocks will […]

Financial regulators too often think “this time is different”

FOR a phenomenon with such predictably bad outcomes, a financial boom is strangely seductive. Not a decade after the most serious financial crisis since the Depression, the world watches soaring markets with a mixture of serenity and glee. Natural impulses make finance a neck-snappingly volatile affair. Governments, though, deserve heaps of blame for policies that […]

S&P 500 dips after choppy session; chipmakers drag Nasdaq

NEW YORK (Reuters) – The S&P 500 was little changed on Wednesday while the Nasdaq lagged in choppy trading in the wake of comments by U.S. Commerce Secretary Wilbur Ross which hinted at action against China in a trade war. Ross said at the World Economic Forum in Davos that U.S. trade authorities were investigating […]

Netflix lifts S&P, Nasdaq; J&J, Procter hold Dow in check

NEW YORK (Reuters) – U.S. stocks advanced on Tuesday, as strong results from Netflix helped lift the S&P and Nasdaq Composite, but the Dow Industrials were hemmed in by declines in Johnson & Johnson and Procter & Gamble. Netflix touched a record high of $ 257.71 and was last up 9.98 percent at $ 250.29, […]

Stock-focused hedge funds post biggest gains among top performers

BOSTON (Reuters) – Hedge funds managers who bet on stocks scored some of the industry’s biggest gains in 2017, when equity markets galloped past a series of critical milestones, according to a new list of the top 20 all-time performers. The annual list, released on Sunday, shows Steve Mandel’s Lone Pine Capital, John Armitage’s Egerton […]

The World Bank’s “ease of doing business” report faces tricky questions

The World Bank’s “ease of doing business” report faces tricky questions

HOW many days does it take to correct a misleading newspaper interview? Four, in the case of Paul Romer, the World Bank’s chief economist. On January 12th a surprising article in the Wall Street Journal alleged that one of the bank’s signature reports—on the ease of doing business around the world—may have been tainted by […]

Exclusive: Blackstone's Hill hands hedge fund reins to McCormick

BOSTON (Reuters) – After nearly two decades of growing Blackstone Group into the world’s biggest hedge fund investor with some $ 74 billion in assets, J. Tomilson Hill is passing the baton. Blackstone has promoted John McCormick to president and chief executive of hedge fund unit Blackstone Alternative Asset Management (BAAM) and Hill will become […]

Morgan Stanley raises targets, but Wall Street wants more

(Reuters) – Morgan Stanley raised key profitability and efficiency targets on Thursday, but those loftier goals failed to impress Wall Street analysts, who repeatedly asked Chief Executive Officer James Gorman why the bank could not do even better. The new targets came after Morgan Stanley reported fourth-quarter results that beat analyst estimates and exceeded Gorman’s […]

Our Big Mac index shows fundamentals now matter more in currency markets

Our Big Mac index shows fundamentals now matter more in currency markets

IT IS usually considered quaint to predict foreign-exchange movements by reference to whether currencies are dear or cheap. Metrics such as The Economist’s Big Mac index, a lighthearted guide to exchange rates, hint at how far currency values are out of whack. But they are often driven further out of kilter by capital flows, by […]

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