We follow the bond market closely at 24/7 Wall St., and for almost a year now there has been an inversion (or difference in yield) between the two-year Treasury paper and the benchmark 10-year note. History has shown every time this has happened that a recession is on the way. The interesting aspect is that an inversion can stay in […]

August turned out to be the worst month for Wall Street in 2023, with stocks taking a battering as investors remained uncertain about the Fed’s future course of action with its interest rate hikes. A series of data released in the last week of August indicates that the economy is softening with the labor market finally starting to cool. This […]

FILE PHOTO: Members of the far-right Proud Boys, including leader Enrique Tarrio (C), rally in support of U.S. President Donald Trump to protest against the results of the 2020 U.S. presidential election, in Washington, U.S. November 14, 2020. REUTERS/Hannah McKay/File PhotoWASHINGTON (Reuters) – A former chairman of the right-wing Proud Boys group is set to be sentenced on Tuesday for […]

Biopharmaceutical company Insmed Inc. (INSM) announced Tuesday positive topline results from its Phase 3 ARISE study of ARIKAYCE in patients with newly diagnosed or recurrent nontuberculous mycobacterial (NTM) lung infection caused by Mycobacterium avium complex (MAC) who had not started antibiotics. The study met its primary objective of demonstrating that the Quality of Life – Bronchiectasis (QOL-B) respiratory domain works […]

Gold prices moved sharply higher in early trading on Friday but gave back ground over the course of the session to close little changed. After surging to a high of $1,980.20 an ounce, gold for December delivery ended the day up just $1.20 or 0.1 percent at $1,967.10 an ounce. Gold still jumped by 1.4 percent for the week. The […]

Luxury brands have long been plagued by the issue of counterfeit products flooding the market. From fake handbags and replica jewelry to brand knockoffs, the counterfeit industry has thrived, costing these brands billions of dollars in revenue. However, in recent years, luxury brands have turned to cutting-edge technologies such as blockchain and artificial intelligence (AI) to fight back against counterfeits and ensure […]

The futures traded lower, after a strong risk-on day to start the final trading week in August. All the major indexes finished the day higher, following through on last Friday’s strength. Despite the gains, the Nasdaq will have its worst August since 2015. With a big tranche of economic data due this week, including the PCE inflation reading on Thursday […]

Investors are cautious as they eagerly wait for Federal Reserve Chairman Jerome Powell’s annual address in Jackson Hole on Friday morning. A strong sell-off in the stock market and climbing treasury yield on Thursday suggest that investors are cautious about any unpleasant surprise. On Thursday, the Dow, the S&P 500 and the Nasdaq lost 1.08%, 1.35% and 1.87%, respectively, whereas […]

Recent earnings at Dick’s Sporting Goods Inc. (NYSE: DKS) were so poor that they decimated the stock price. Since the core of the trouble is unlikely to go away, Dick’s could have a multiyear problem. Among the worst issues facing Dick’s is what used to be called “shoplifting.” However, that term does not come close to measuring the depth of […]