The S&P 500 was on track to fall for a sixth straight day for its longest losing streak since February 2020 The Nasdaq added to big losses and fell 2%, investors turned hijacking growth and tech stocks Shares of airlines, cruise lines, accommodation companies and other service recipients of a post-pandemic economic reopening added to Monday’s gains, and sectors cyclicals, notably energy and financials, were on the verge of outperforming again

Optimism over another round of fiscal stimulus to help prop up the economy has helped boost corporate actions that have helped a strong economic reopening The US House of Representatives budget committee has voted to advance President Joe Biden’s $ 9 trillion virus relief proposal on Monday, bringing him closer to the cliff-front crossing in mid-March, after which federal unemployment benefits improved in the last relief cycle in December should expire

This week, investors are eyeing a sharp rise in treasury bill yields, raising fears of skyrocketing rates and borrowing costs for businesses and inflationary pressures across the economy The benchmark 10-year yield hovered around 136% for its highest level in a year, after wallowing below 1% for most of 2020

That said, rising government bond yields and steepening of the yield curve – with longer-term yields rising faster than those at the shorter end of the curve – are also typical features. an economic recovery

“I think the surge in bond yields is expected as we have the prospect of very strong economic growth in the US You have seen other indicators of economic activity being very strong, for example commodities are on a real tear since last summer Bond yields reflect stronger economic growth, ”Ernesto Ramos, chief investment officer of BMO Global Asset Management, told Yahoo Finance on Monday

“Consensus estimates maybe 6-7% growth [of GDP] for 2021 You see the vaccine rollout is improving a lot and really starting to hit and make a difference So there are a lot of signs reopening, and economic growth will reflect that and, therefore, bond yields must reflect stronger economic growth, and that’s why they have moved up, ”he added. “They’ve grown pretty quickly, but they’ve really started to improve since July, going from 60 basis points until we are today at 135”

“We are coming off a very good 3 month run for US stocks and will now face the less welcome headlines of a typical economic recovery This includes rising long-term interest rates and prices of the oil, “DataTrek co-founder Nicholas Colas wrote in a recent note. “Yes, it’s only natural to see them increase, but that doesn’t mean stocks get a free pass while they do.”

On Tuesday, Federal Reserve Chairman Jerome Powell began giving his biannual testimony on monetary policy to the Senate Banking Committee, offering a further update on his take on the way forward for monetary policy during and after the pandemic In prepared remarks, Powell reaffirmed that the Fed seeks to maintain its current accommodative policy for the time being, keeping benchmark rates close to zero and asset purchases at the current rate of $ 120 billion per month.

“The economy is far from our targets for jobs and inflation, and it will likely take some time for further substantial progress to be made,” Mr. Powell “We will continue to clearly communicate our assessment of progress towards our goals well in advance of any change in the pace of procurement.”

Federal Reserve Chairman Jerome Powell’s testimony to the Senate Banking Committee was “resolutely dovish,” suggesting that monetary policy is unlikely to be tightened at the first signs of inflationary pressure or a rebound in employment, a said Capital Economics economist Paul Ashworth in a note

“The semi-annual testimony prepared today by Fed Chairman Jerome Powell was extremely accommodating His conclusion that` `the economy is falling short of our employment and inflation targets, and that ‘it will likely take time for further substantial progress to be made’ makes it clear that, even with more massive fiscal stimulus this year, the Fed will not slow the pace of its asset purchases until next year , with interest rate hikes in several years, “said Ashworth

“The bottom line is that the Fed won’t blink until the unemployment rate drops to 4%, which is in line with its current estimate of the long-term equilibrium rate,” he said. -he adds Even so, it could delay policy tightening if officials felt the unemployment rates for minorities and low-wage workers were too high. Officials also appearing keen to label any rise in inflation as due. to “ transient ” factors, at least until proven guilty, we find it hard to think of a scenario that could arise over the next two years that would prompt the Fed to tighten monetary policy policy earlier than expected “

Consumer confidence improved by a larger margin than expected in February, based on the monthly index closely watched by the Conference Board

The institution’s stock consumer confidence index rose to 913 in February from a revised downward 889 in January This topped estimates for a draw of 900, according to Bloomberg consensus data The index however remains well below pre-pandemic levels, and was on average around 128 in 2019

Below the stock index, the sub-indices that track both consumer ratings of the current situation and expectations for the planned future are over 90

Apple stocks (AAPL) – a heavily weighted stock in each of the S&P 500, Dow and Nasdaq – fell as much as 6% on Tuesday amid a broader decline in tech stocks

The drop marked the stock’s biggest drop since Oct. 30 Stocks are down 5% year-to-date through Monday’s close, returning gains after rising 80% in 2020

US home prices rose the most in nearly eight years in December, capping a record year for the housing market as new buyers flooded the market amid low interest rates

The & Poor’s Standard S&P CoreLogic Case-Shiller National Home Price Index rose 104% year-on-year in December, up from 95% in November and representing the fastest growth rate since 2013 Composite Index of 20 Cities, which tracks house price trends in 20 major metropolitan areas, posted a 101% annual gain, up from 92% in November and topping estimates for a 9% gain of 90% from a year on the other, according to consensus estimates compiled by Bloomberg

Shares of Tesla (TSLA) were set to open more than 5% lower on Tuesday, extending the declines after falling 85% on Monday

“The last few days have been unpleasant for Tesla shares, as the company’s shares continue to sell for two basic reasons in our opinion The first is related to Bitcoin, because since diving into the bottom of the pool with its $ 1 buying 5 billion Bitcoins last month for good and bad, the company’s stock is now strongly tied to this digital currency, “Wedbush analyst Dan Ives said in a note. Tuesday morning Bitcoin (BTC-USD) prices fell nearly 9% to below $ 50,000 on Tuesday

“Second, Tesla halting sales of its lowest-priced Model Y, coupled with continued price drops, has led to demand issues on the streets as bears come out of hibernation mode,” he added

Home Depot (HD) shares fell more than 25% at the start of trading after the company declined to offer a forecast for this year after a record year of skyrocketing sales in 2020, as customers have turned to the company en masse for home improvement projects during the pandemic

“As we look to Fiscal 2021, although we are unable to predict how consumer spending will evolve, if the demand environment in the second half of Fiscal 2020 expected to persist into fiscal 2021, this would imply stable to slightly positive comparable sales growth and operating margin of at least 14%, ”CFO Richard McPhail said in a statement

Comparable sales soared 245% in the fourth quarter, up from 5 last year Growth rate of 2% and higher estimates for 191% growth Earnings of $ 2 65 per share also increased in over $ 2.28 posted last year

Credit Suisse strategist Jonathan Golub has revised his S&P 500 price target upwards for the second time in two months

Wedbush analyst Dan Ives says Apple should have bought Netflix years ago to get ahead of the streaming war

The Dow Jones industrial average slipped 300 points on Tuesday, as tech stocks plunged and Bitcoin fell Tesla stock fell 13%

Warren Buffett gets his money’s worth – Cathie Wood, of ARK Invest, transforms into a stock picker to watch for stocks that straddle him

(Bloomberg) – US stocks cut their worst loss after Federal Reserve Chairman Jerome Powell signaled the central bank was not close to withdrawing support for the US economy The Nasdaq 100 was still down around 1% as the high-tech gauge headed for its longest losing streak since 2019, but hit its day-low following comments from Powell’s Cyclical Stocks which expected to benefit from end of pandemic lockdowns outperformed, limiting losses for the Dow Jones Industrial Average Similar rotation was underway in European stocks So-called growth stocks are having their worst month against their value counterparts in more than two decades as vaccination campaigns accelerate and bond yields approach a one-year high Bets on faster growth have pushed the gap between 5- and 30-year yields to all-time high over six years Investors are increasingly concerned that large benchmarks have already captured much of the Potential global recovery boosted by vaccines and US stimulus As Powell reassured investors about the recovery, he expressed expectations for a return to more normal and improved activity later this year“We’re starting to see some people taking money off the table,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors “The side of the market that has been so overvalued for so long is the tech side and these big names of growth, so we are seeing a rotationElsewhere, stocks in Asia were mostly higher Bitcoin fell below $ 50,000 after an episode of volatility that highlighted lingering doubts about the sustainability of the token rally A few key events to watch this week: The EIA crude oil inventory report released on Wednesday Group of 20 finance ministers and central bankers to meet virtually Friday US Treasury Secretary Janet Yellen will be among the attendees Here are some of the main market developments: Stocks S&P 500 index fell 05% as of 11 a.m. New York time Stoxx Europe 600 index fell 05% MSCI Asia Pacific index was little changed MSCI Emerging Market index fell 02 % Bloomberg Dollar Spot Index fell 01% Euro was little changed $ 1,216 British pound rose 03% to $ 1,4105 Japanese yen was little changed at 1051 per dollar Bonds Treasury bill yield 10-year r fell two basis points to 135% Germany’s 10-year yield jumped two basis points to -032% UK 10-year yield rose four basis points to 071% West Texas Intermediate crude fell 08% to $ 61 23 a barrel Gold fell 02% to $ 1806 37 an ounce For more posts like this please visit us at Bloomberg Subscribe now to stay ahead with the most trusted source of business news © 2021 Bloomberg LP

Jim Cramer said on Monday it was not too late “to make a big bet” on reopening the shares What Happened: “You are no longer ahead with these names, but this doesn’t mean you’re late either, “CNBC host said” Mad Money. “Cramer’s picks include Walt Disney Co (NYSE: DIS), Marriott International Inc (NASDAQ: MAR), Wynn Resorts, Limited ( NASDAQ: WYNN), Southwest Airlines Co (NYSE: LUV) and Royal Caribbean Cruises Ltd (NYSE: RCL) The former hedge fund manager also predicts an increase in the business of credit card companies such as Visa Inc (NYSE: V ), Mastercard Inc (NYSE: MA) and American Express Company (NYSE: AXP) Other favorites include Estee Lauder Companies Inc (NYSE: EL), Caterpillar Inc (NYSE: CAT), Nucor Corporation (NYSE: NUE) and Simon Property Group Inc (NYSE: SPG) “We all know the day will come, the day we can see the light at the end of the tunnel We knew the r Opening stocks would jump ahead, ”Cramer said Why this matters: The CNBC host urged investors to hang on to the uptrend in economic recovery stocks, but also advised to maintain exposure to growth stocks “It’s not too late to make a big bet on reopening stocks, but don’t forget to avoid some of the top names in downside growth as well.Cramer’s travel sector picks all ended the trading day in green Monday Royal Caribbean closed 933% higher in regular session the same day at $ 86 23 The stock rebound came despite the cruise liner having reported a net loss of $ 5 8 billion in 2020 against income of $ 1 9 billion a year ago See more from BenzingaClick here for Benzinga options tradesFacebook Re-Friends Australia as government amends bill on sharing Bitcoin news income could be tanking, but these Ethereum killers are posting major gains today © 2021 Benzingacom Benzinga Does Not Provide Investment Advice All Rights Reserved

Lucid Motors and Blank Checks Company Churchill Capital IV (CCIV) Confirm Merger Agreement to Take California-Based Electric Vehicle Company to Stock Exchange Shares of Churchill Capital Fall About 25% at 10:45 AM Eastern time

Jessica Smith, of Yahoo FInance, joined Yahoo Finance Live to deliver the latest stimulus news as Democrats rush to pass the Biden dollar in the 9T stimulus bill

The & Poor’s standard said on Tuesday that its national S&P CoreLogic Case-Shiller house price index posted a 10% annual gain rating in December, up from 95% in November – the fastest growth since 2013

Stocks fell on Monday as commodity prices rallied as higher Treasury bill yields and higher inflation expectations weighed on stock prices

Soaring commodity prices, further federal stimulus, and rising government bond yields all raise the specter of inflation In addition, there are growing fears that stocks – and tech ones in particular – are now at valuations disconnected from reality Is the macroeconomic climate about to push back the bull market? It’s too early to tell, but it does indicate that a more cautious approach to investing might be a good move right now And that will bring us to dividend stocks Investors want a buffer, something to protect their portfolio in the event that market decline, and dividends deliver just that These shareholder incentive payments provide a steady stream of income, which generally remains reliable even in times of downturn RBC Capital analysts have done some of the groundwork for us, identifying dividend-paying stocks that have maintained high returns, just above 10% By opening the TipRanks database, we take a look at the details of these payments to find out what makes these actions interesting Annaly Capital Management (NLY) First up, Annaly Capital Management, is a real estate investment trust (REIT) Annaly owns a portfolio of commercial real estate with a strong focus on commercial (31%) and office (29%) spaces. other significant investments include multi-family housing, hotels and healthcare facilities The company has total assets of over $ 100 billion In the company’s 4Q20 results, Annaly showed a 51% economic profitability for Q4 , much higher than the 18% reported for 2020 as a whole EPS stood at 60 cents per common share and more than covered the regular quarterly dividend of 22 cents This is the third quarter in a row with the dividend at this level; at the annualized rate of 88 cents per common share, the dividend pays 107% That’s head and shoulders above the roughly 2% yield found among comparable companies in the financial sector Annaly has a long history of adjusting her payout dividend to earnings, making her a reliable payer Also of interest to investors, Annaly ended the fourth quarter with $ 8 billion in unencumbered assets, including cash on hand The company used this deep pocket to authorize a $ 1 $ 5 billion common stock repurchase program, with the aim of returning capital to shareholders and supporting stock prices RBC 5-star analyst Kenneth Lee likes what he sees in Anna’s performance, writing : “We continue to favor Annaly’s diversified operating model, strong liquidity and portfolio bias in favor of agency MBS in the current macroeconomic context Annaly is exposed to growth-oriented credit assets including residential and commercial mortgage credit and middle market lending We believe diversification should allow NLY to switch between attractive investment opportunities ”In accordance with these Comments, Lee gives NLY an outperformance rating (ie Buy), with a $ 9.50 price target This figure implies a 14% hike for the coming year (To view Lee’s track record, click here) together, there is a broad consensus on Wall Street about the quality of NLY, as evidenced by the 7: 1 split among analyst critics, favoring buy over hold and give the stock a consensus rating of Analyst Strong Buy Stocks are currently trading at $ 822 and their average price target of $ 9 suggests potential up to 95% from that level (See NLY stock market analysis on TipRanks) Sunoco LP (SUN) From REITs, We Move to Energy Sunoco LP is the largest wholesale distributor of automotive fuels in the United States, and supplies more than 7,300 Sunoco gas stations in 33 states The company’s products include gasoline, diesel fuel, fuel oil, jet fuel, lubricating oils and kerosene – a full line of petroleum products, sold as both branded and unbranded products Sunoco also controls 13 storage terminals that maintain a secure supply for delivery to retailers On the retail side, Sunoco supplies equipment to gas stations – from pumps to payment services This company’s diverse business has enabled Sunoco to remain profitable during the corona pandemic crisis EPS turned negative in the first quarter, when demand fell during the height of the crisis, but rebounded quickly in the second quarter and posted year-over-year gains. other quarter since Fourth quarter EPS was 77 cents, up from 75 cents last year quarter Distributable cash flow for the quarter decreased year over year from $ 120 million to $ 97 million dollars, and the company announced a quarterly dividend of 825 cents per common share That held up from the previous quarter – and in fact, was held at this level since November 2016 Sunoco has been paying a reliable dividend for 8 years Current payout cancels out at $ 3.30 per share, and yields 106% Covering SUN for RBC, analyst Elvira Scotto notes that recent storms in the ‘Arctic in the continental United States had a negative impact on sales volumes, but remain supported by other aspects’ SUN maintained its forecast for 2021 and noted an improvement in volumes in January We do not expect that recent weather conditions will have a significant impact on SUN volumes for 2021, ”said 5-star analyst “We believe SUN is showing investors significant current income with an improved balance sheet We expect SUN to maintain distribution and distribution coverage to improve over time” Scotto credits SUN with outperforming (ie Buy) and Raised the price target from $ 36 to $ 38 The figure implies a 23% hike for the next 12 months (To look at Scotto’s history, click here) Overall, SUN stocks are rated d ‘moderate buy from analyst consensus, based on a range of reviews including 5 buys, 2 takes and 1 sell Stocks have an average price target of $ 33.50, giving an 8% upside potential from the current price of $ 31 (See SUN Stock Analysis on TipRanks) For great ideas for trading dividend stocks at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that brings all the information about the s shares of TipRanks Disclaimer: Opinions expressed in this article are those of featured analysts only The content is intended to be used for informational purposes only It is very important to do your own analysis before making any investment

While price volatility and inexperience are undoubtedly big risks for amateur traders, there is another danger that has been largely overlooked but just as terrible: criminal scams

Tesla shares were expected to dip red for the year on Tuesday, hit by a large selloff in high-tech stocks and the fall in bitcoin, in which the electric car maker recently invested $ 1.5 billion at 11 21:21 GMT, Tesla was down more than 6% in US pre-market offers after an 85% drop in the previous session The firm led by Elon Musk has seen a stellar turn since 2020, which it began at around $ 85 per share, before hitting the $ 900 mark in January 25

(Bloomberg) – Now that the lights are on in Texas again, the state must determine who is going to pay for the energy crisis that plunged millions of people into darkness last week It will likely be ordinary Texans price so far: $ 50 6 billion, the cost of electricity sold from Monday morning, when the blackouts began, to Friday morning, Bloomberg estimates NEF This compares to $ 4 billion for the previous week Some of these costs have already passed on to consumers, as electricity customers exposed to wholesale prices spiked electricity bills as high as $ 8,000 last week Other customers won’t know what they’re doing until they receive their gas and electric bills at the end of the month Ultimately, the financial pain will likely be shared by taxpayers and taxpayers said Michael Webber, professor at the University of Texas at Austin and scientific director of French electricity company Engie SAIf before US electricity market failures are any guide, Texans could be on the hook for decades Californians, for example, spent about 20 years paying for the Enron-era electricity crisis from 2000 to 2001 , via supplements on utility billsCPS Energy, which is owned and operated by the City of San Antonio, said on Twitter it was looking for ways to spread last week’s costs over the next 10 years. This did not please his clients, who spoke out against the company’s proposal at a board meeting on Monday. “Spreading the cost of this event over a decade is unacceptable,” said Aaron Arguello , an organizer of Move Texas “Customers are already in debt with student loans, mortgages and other payments” But businesses that have suffered huge losses as the cost of electricity skyrocketed last week will inevitably try to recoup them via their customers, taxpayers or obligations How quickly Texans pay depends on their supplier Gas utilities typically pass costs on to customers at the end of the monthly billing cycle, said Toby Shea, credit manager at Moody’s Investors Service. Municipal utilities, co-ops and regulated electricity providers have the ability to spread costs over a longer period “It is very easy for a government to spread this out for many years, even a few months,” a- CPS CEO Paula Gold-Williams said last week that the company could also issue bonds to help pay for the natural gas it bought at inflated prices.Some utilities are looking to raise hundreds of millions of dollars in cash to spread costs over 10 to 20 years, said Scott Sagen, associate director of US public finance at S&P Global Ratings Rayburn Country Electric Cooperative Inc, for example, fully used its $ 250 million syndicated line of credit and recently entered into a $ 300 million bilateral line of credit with National Rural Utilities Cooperative Finance Corp for a year, according to a S&P report released on Monday A number of utilities are in talks with their banks to get cash to pay off their current debts so that they can then take out a bridging loan that they will convert into long-term bonds “They try to smooth these costs out as much as possible and provide cover to their customers “Sagen said. But smaller retailers who tend to be lower capitalized Sized and less well-hedged have limited options One such firm, Griddy, said last week that it would challenge prices set by the network operator during the crisis, with the apparent aim of recouping losses for itself and its clients Another company, Octopus Energy, said on Monday it would forgive any energy bill exceeding the average price of electricity for the week and eat up the resulting losses, which could run into millions of dollars.The state’s utilities regulator on Sunday barred electricity sellers from disconnecting customers for non-payment, saying the governor and lawmakers needed time to develop a plan to pay the bills first extremely high Texas lawmakers will likely resume discussion of consumer aid in their committee’s crisis hearings starting this week, a spokesperson for the Texas Utilities Commission said.In theory, lawmakers could pass an emergency bill that could cover the excessive costs charged by generators during the crisis, said Julie Cohn, an energy historian affiliated with the Center for Energy Studies at Rice University and at the Center for Public History at the University of Houston “Another element would be to say that you can have a competitive energy market that we have, but prohibit the supplier from tying the price directly to the wholesale price, like Griddy does.”It would be easier to do in a state that takes a tougher regulatory approach to its electricity market, according to Webber. But Texas has decided to take a more practical approach with its deregulated system,” he said.“The question is where will the money come from?” Shea said, “Is Texas going to bail out some customers?” It’s not their attitude to how they run their market or their economy ”For more articles like this please visit us at bloombergSubscribe now to stay ahead with the news source of most trusted business © 2021 Bloomberg LP

The world’s largest asset manager, BlackRock, reduced its position in government bonds, preferring stocks in light of COVID-19 vaccine rollout and potentially up to U $ 2.8 trillion Additional Tax Expenses This Year In a weekly commentary, BlackRock Investment Institute strategists said the company was increasing its “ underweight ” on US Treasuries Yields on US Treasuries, which move inversely to the prices, hit their highest levels since February 2020 this week as investors sold government bonds

Jerome Powell is likely to reiterate the Fed’s pro-stimulus stance later today, possibly putting a floor below bitcoin and stocks

HSBC is set to pull out of US retail banking, a source familiar with the matter told Reuters on Monday, as Europe’s largest bank sought to divest a company that has long underperformed The exit US consumer activities will be part of the lender’s strategy update slated for Tuesday, as chief executive Noel Quinn looks to cut costs, increase commission income, and continue the lender’s transition to the Asia The sale or closure of its approximately 150 remaining branches in the United States, after closing 80 branches last year, would mark the end of HSBC’s struggle to turn around a company that has struggled to win against its national rivals in place

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Global news – United States – Live stock news: Stocks drop, Nasdaq drops 2% as tech stocks stretch to rout

Source: https://finance.yahoo.com/news/stock-market-news-live-updates-february-23-2021-232120081.html