Will retail stock ETFs designed to profit from wave of brick-and-mortar shutdowns outperform in a recession? From Macy's (M) to the Gap, from Nordstrom (JWN) to Foot Locker (FL), the retailpocalypse rolls on. That means an exchange-traded fund that tracks the broad retail landscape, the SPDR S&P retail ETF (XRT), is basically flat for the year to date, a period in which the Dow and S&P indexes are both up double digits.
U.S. stocks slumped Friday on escalating trade tensions after China said it would impose retaliatory tariffs on additional U.S. products and President Trump vowed to respond. The Dow Jones Industrial Average dropped about 450 points, or 1.7%, putting a halt to a relatively quiet week for markets. Yields on U.S. government bonds also tumbled, as did commodities markets, such as oil and copper, that are sensitive to the two countries' trade battle.
The Federal Reserve will "act as appropriate" to keep the U.S. economy healthy, Fed Chair Jerome Powell said on Friday, remarks that did not say how fast it might cut interest rates, drawing fire from President Donald Trump.
President tweets he wants American companies to look for alternative to China. President Donald Trump on Friday slammed Federal Reserve Chairman Jerome Powell after a closely watched speech, asking if the central bank chief or China's president was a bigger enemy of the United States. 'WHO IS OUR BIGGER ENEMY'.
President Donald Trump reacted furiously on Friday after Federal Reserve Chair Jerome Powell linked the trade war with China to risks to the U.S. economy, asking whether the man he handpicked to run the U.S. central bank was a greater "enemy" than Chinese leader Xi Jinping. "As usual, the Fed did NOTHING! "My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?"
Louis Fed president is a proponent of more interest rate cuts. Louis Fed President James Bullard said Friday the central bank can handle a recession as it has more ammunition than it did three years ago to fight any downturn. "At least if it was an ordinary recession, I think there would be enough tools to handle that," Bullard said in an interview with MarketWatch.
President Donald Trump reacted furiously on Friday after Federal Reserve Chair Jerome Powell linked the trade war with China to risks to the U.S. economy, asking whether the man he handpicked to run the U.S. central bank was a greater "enemy" than Chinese leader Xi Jinping. "As usual, the Fed did NOTHING! "My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?"
International Monetary Fund chief economist Gita Gopinath said on Friday that U.S. monetary policy is being accommodative and data driven. "U.S. monetary policy is being accommodative and it is being data driven", Gopinath told CNBC in an interview when asked if U.S. monetary policy is "too tight".
U.S. stocks slumped after China said it would impose retaliatory tariffs on additional U.S. products and President Trump responded on Twitter, escalating the trade tensions that have rattled markets in recent weeks. The S&P 500 dropped 1.9%, on track to give up its gains for the week. The Dow Jones Industrial Average fell 1.8%, and the Nasdaq Composite declined 2.2%.
Fed chairman sees' complex, turbulent picture' since July meeting. Federal Reserve Chairman Jerome Powell on Friday said the central bank was "carefully watching developments" in the economy and would "act as appropriate," but stopped short of promising any specific interest-rate easing steps. In a closely-watched speech in Jackson Hole, Powell said he and his colleagues were trying to assess "this complex, turbulent picture" that has emerged in August, with financial markets...
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