Weekend Money Markets Roundup August 10, 2024
Trading platforms return after going down amid global stock turmoil
Traders grappled with technical problems on several big online trading platforms on Monday morning, as global stock markets entered into a rout.
Charles Schwab, Fidelity, Vanguard, and TD Ameritrade all experienced issues on Monday morning amid the selloff, according to Downdetector, an online service that tracks user-reported outages at major companies. TD Ameritrade is an online broker owned by Schwab. - Rocio Fabbro Read More
Tesla, Rivian, Ford and other automaker and EV stocks are sinking as the market panics
Automaker and electric vehicle stocks are down Monday, as the market grapples with the mayhem that followed a weaker-than-expected jobs report.
The bloodbath in the stock market has been influenced by several factors, including renewed concerns about a potential recession in the U.S. due to rising unemployment rates. Moreover, the Bank of Japan’s decision to raise its benchmark interest rate has caused the value of the yen to rise, and Japanese stocks have suffered their biggest fall since 1987. - William Gavin Read More
The Dow, S&P 500, and Nasdaq rebound after global stock market chaos
Major indices appear to be in correction after a global stock sell-off roiled the markets on Monday.
The S&P 500 rose 1.23% on Tuesday morning, after the index saw its worst day since 2022; Nasdaq 100 futures climbed 0.94%; and futures tied to the Dow Jones Industrial Average jumped 383 points, or about 1%. - Rocio Fabbro Read More
Jamie Dimon and Warren Buffett are in agreement, America's economy is resilient
J.P.Morgan CEO Jamie Dimon sounded pretty optimistic about the economy in an interview with CNBC’s Leslie Picker on a soccer field in Kansas City, while on his annual bus tour through the American midwest. - Laura Bratton Read More
The stock market 'fear index' hit its highest level since the 2020 crash
The CBOE Volatility Index — also known as the VIX — hit its highest level since March 2020 on Monday morning, as fears about a slowing U.S. economy sent stocks around the world into a rout. - Rocio Fabbro Read More
Canada exported so much gold and oil in June that it got a surprise trade surplus
Canada just got a commodity-driven economic surprise. The country’s data hub, Statistics Canada, released numbers Tuesday that said the country exported C$638 million ($432 million) more in goods and services than it imported in June, far more than the C$2 billion trade deficit that Bloomberg reports economists had been expecting. The products driving the increase? Oil and gold. - Melvin Backman Read More
Bitcoin, Ether, XRP, and more: Crypto to watch this week
The cryptocurrency market is in turmoil amid widespread investor panic and looming recession fears. Yet, despite the downturn in the crypto market, some experts are suggesting that now is the time to buy. - Vinamrata Chaturvedi Read More
Dow closes almost 700 points higher as new job data boosts investors' confidence
The Dow and other indexes rose on Thursday as new labor market data came in better than expected, easing concerns about a potential recession. Following that, stocks began to recover from recent massive sell-offs. - Vinamrata Chaturvedi Read More
A 'healthy' recession can't hurt us, strategist says
Tim Urbanowicz, Head of Research and Investment Strategy at Innovator ETFs, breaks down what the stock market turbulence means for investors
The Dow closes 1,000 points lower as the global market downturn worsens
The stock market experienced a massive global sell-off on Monday, with the Dow dropping over 1,000 points and the Nasdaq losing almost 600 points.
The bloodbath in the stock market has been caused by several factors, including renewed concerns about a potential recession in the U.S. due to rising unemployment rates. Moreover, the Bank of Japan’s decision to raise its benchmark interest rate has caused the value of the yen to rise, and Japanese stocks have suffered their biggest fall since 1987. The country’s Nikkei stock index dropped by over 12% on Monday. Meanwhile, the European stocks on the Stoxx 600 index also dropped nearly 3.5%. - Vinamrata Chaturvedi Read More