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Bloomberg
3 days ago
- Business
- Bloomberg
Bloomberg Daybreak Asia: Markets Edge Higher With US-China Talks Set to Continue
Asian shares edged up, buoyed by expectations about the US-China trade talks as officials struck a positive tone after the first day of negotiations. While no significant breakthroughs were announced after the first day of talks and stocks pared some of their earlier gains, US officials sounded optimistic about the negotiations. With a key inflation read on tap Wednesday - and the Federal Reserve is entering a blackout period before its June 18 interest-rate decision - money managers are wrestling with what could propel the S&P 500 back to a record after the index soared 20% from its April lows. For a look at how the talks are impacting market action, we hear from Jim Worden, Chief Investment Strategist at the Wealth Consulting Group. Talks will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements. The advisers will meet again Tuesday at 10 a.m. in London, the official said. US Commerce Secretary Howard Lutnick said discussions between Washington and Beijing were "fruitful" and Treasury Secretary Scott Bessent cited a "good meeting." Talks will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements. The advisers will meet again Tuesday at 10 a.m. in London, the official said. For a closer look, we hear from Bloomberg's Jennifer Dlouhy in Washington and Stephen Engle in Hong Kong. They speak with Bloomberg's Shery Ahn and Haidi Stroud-Watts.
Yahoo
06-03-2025
- Business
- Yahoo
Opening-Bell Stock Selloff Fueled by a Record-Setting Retreat
(Bloomberg) -- President Donald Trump's trade war at least temporarily dashed individual investors' optimism about the US stock market, setting-off a record setting stampede for the exits just after Tuesday's opening bell. How Upzoning in Cambridge Broke the YIMBY Mold Remembering the Landscape Architect Who Embraced the City NYC's Finances Are Sinking With Gauge Falling to 11-Year Low US Tent Facility is Holding Migrant Families Longer Than Recommended Republican Mayor Braces for Tariffs: 'We Didn't Budget for This' In the first hour of trading, the so-called retail investors yanked $1.2 billion out of the US equity market — the largest pullback during that time period since JPMorgan Chase & Co.'s data begin a decade ago, according to Emma Wu, the bank's global quantitative and derivatives strategist. The pullback from single stocks reached $1.1 billion and was broadly distributed across sectors. The exodus is another example of how much the uncertainty cast by Trump's policy shifts have upended the direction of financial markets, where bullish sentiment among individual investors had recently surpassed levels seen even during the meme-stock mania of 2021, according to Wu. The pullback caused a steep market drop, with the S&P 500 Index tumbling as much as 2% before clawing back much of the decline on wagers Trump could eventually reverse course. 'There is likely some profit-taking going on because those with a lower risk tolerance will likely stay on the sidelines until some of the tariff uncertainty clears,' said Jim Worden, chief investment officer of Wealth Consulting Group. That said, the smaller investors still appear relatively optimistic on some segments like Big Tech, with the so-called Magnificent Seven stocks only accounting for 20% of the total pullback on Tuesday. And this year, the retail investors have typically bought any dips, wagering on a rebound, even as hedge funds and other institutional investors have been doing the opposite by selling when it rebounds. Historically, a disconnect between the two like that has been viewed as a negative indicator for the stock market's direction, since large institutions eventually are seen as holding far more sway. Moreover, Goldman Sachs Group Inc. traders wrote in a note to clients in late February that retail-investment flows were already fading, due in part to news of a building US-led trade war. 'Tariff trading is relatively new for most investors and I believe that adds another wrinkle to the level of angst for retail traders,' said Scott Colyer, chief executive at Advisors Asset Management. 'These 'flush' events are always good to wring out the speculation.' Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? The Mysterious Billionaire Behind the World's Most Popular Vapes Snack Makers Are Removing Fake Colors From Processed Foods Trump's SALT Tax Promise Hinges on an Obscure Loophole The US Is Withdrawing From Global Health at a Dangerous Time ©2025 Bloomberg L.P.
Bloomberg
18-02-2025
- Business
- Bloomberg
Bloomberg Businessweek: US and Russia Talk Ukraine
Watch Carol and Tim LIVE every day on YouTube: Angela Stent, Senior Fellow at Brookings Institution, shares her thoughts on Ukrainian President Volodymyr Zelenskiy canceling his visit to Saudi Arabia after being shut out of talks between the US and Russia on the future of his country. Jimmy Lee, CEO at Wealth Consulting Group, talks about investing in cyclical sectors and small cap stocks. Bloomberg Intelligence Senior Aerospace, Defense & Airlines Analyst George Ferguson discusses the Delta upside down crash landing in Toronto. And we Drive to the Close with Lance Cannon, Portfolio Manager at Hood River Capital Management. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.
