Stocks retreated from multi-year highs on Tuesday, led by energy and materials stocks, as investors digested a mixed bag of economic news, including disappointing retail sales in December. Exxon fell, while Verizon rose.
Anyone who cares about deals would do well to read Monday’s opinion from Chancellor Laster in the litigation brought by shareholders against Del Monte Foods.
Stocks continued to trade off multi-year highs after a slew of economic news, including a weak reading on December retail sales. Exxon and DuPont fell, while JPMorgan rose.
As lovers of U.S. stocks sit back, smile, and watch the S&P 500 climb higher and higher, emerging market investors are pulling their hair out. China’s Shanghai Composite down 6 percent from November 2010 highs, Brazil’s Bovespa is down 9 percent, and (saving the best for last) India’s Sensex Index is down 10 percent.
After appearing on "The Strategy Session" on Monday, Michael Gavin, managing director and head of emerging markets strategy at Barclays Capital spacer, continued the discussion off-air with David Faber, about how investors should weigh the risk of sharp price appreciation against the rewards of high-octane growth in India.
Inflation worries over emerging markets are cyclical and short-term, Michael Gavin, managing director and head of emerging markets strategy at Barclays Capital spacer, told CNBC on Monday.
"All the trading on Egypt happened last week," says Ben Willis of Sunrise Securities.
Bob Diamond will stamp his authority on Barclays next month, when the incoming chief executive announces a radical overhaul of the way it pays its top bankers as part of a broader strategic review that could see the group shed staff and put increased pressure on underperforming businesses. The FT reports.
Stocks closed far off the lows of the session, with the broad market ending largely flat, as investors weighed mixed earnings and economic reports and tech stocks sank for a second day.
Stocks held slight losses before the close, after a breif stint in positive territory, as investors weighed mixed earnings and economic reports and tech stocks sank for a second day. Caterpillar and DuPont fell, while Home Depot rose.
Bob Diamond, the CEO of Barclays, told lawmakers on Wednesday the time for "remorse and apology" is over and attempted to convince politicians that "we need banks willing to take risks, to be confident and work with the private sector in the UK to create jobs and improve economic growth." Diamond said he wished the bonus issue could go away, and he might just get his wish.