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BofA Warns Investors to Take Profits as 70% of Bear Market Signals Flash Red
Bank of America is telling investors to take profits now, warning that a growing cluster of internal indicators is signaling the stock market may be approaching a top after months of gains driven heavily by a narrow group of AI-related technology stocks. Seven of the...
Private Credit Lenders Say Their Big Software Bet Faces an AI Reckoning, But Not a Wipeout
Prominent private credit investors are warning that artificial intelligence is forcing a significant reckoning across the software sector. But they are pushing back against the most catastrophic interpretations, arguing the disruption will produce a K-shaped outcome...
US Public’s Inflation Expectations Largely Unchanged in May Despite War-Driven Price Pressure
Americans' expectations for future inflation remained largely stable in May even as the Iran war continues to push energy prices higher and drive headline inflation to a three-year high, according to the New York Federal Reserve's monthly survey released Monday....
Oil Prices Rise After Weekend Israel-Iran Strikes Threaten Ceasefire and Peace Talks
Oil prices climbed Monday morning after a surge of direct military action between Israel and Iran over the weekend marked the most serious ceasefire violation since the truce took effect in early April, raising fresh fears about the durability of peace negotiations...
Rate Hike Odds Jump to 68% for December as May Jobs Report Resets Fed Expectations
A blockbuster May jobs report has shifted rate markets dramatically, pushing the probability of a Federal Reserve interest rate increase by December to levels that would have seemed unlikely just weeks ago, when rate cuts were still the dominant market expectation....
US Labor Market Smashes Expectations With 172,000 Jobs Added in May
The American labor market delivered a third consecutive strong surprise in May, adding 172,000 jobs and nearly doubling what economists had projected, even as workers continue to face a widening gap between their paychecks and the rising cost of living. The...
Strong May Jobs Report Keeps Fed Focused on Inflation and Raises Rate Hike Odds
A third consecutive stronger-than-expected jobs report has shifted the Federal Reserve's attention firmly toward inflation and strengthened the case among hawkish officials for interest rate increases later this year, removing any remaining pressure on the central...
AI Labor Shock Is Starting to Show Up in Layoff Data as Job Cut Announcements Hit Records
Artificial intelligence has been reshaping stock prices, capital expenditure plans, and chip demand for more than two years. Now it is beginning to reshape the labor market in a more direct and measurable way, with companies citing AI as the reason for job cuts at a...
Blackstone Restricts Withdrawals From Flagship Private Credit Fund as Redemption Requests Spike
Blackstone has moved to cap investor withdrawals from its $79 billion private credit fund after redemption requests surged to 10% during the second quarter, a significant escalation from the record levels already recorded in the first quarter and a sign that stress in...
Stock Market Sounds a Valuation Alarm as S&P 500 Hits Most Expensive Level Since Dot-Com Crash
The U.S. stock market is flashing a warning that investors would be unwise to ignore: the S&P 500 is now trading at its most expensive valuation since the dot-com crash, at a moment when inflation is accelerating, economic growth is slowing, and the Federal...