The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
"Sure, the trade war's taking its toll on business ... it's just not taking its toll where it was supposed to," Jim Cramer says.Mad Money with Jim Cramerread more
Joe Biden called on President Donald Trump Friday to release the transcript of a call with a foreign leader that is the subject of a whistleblower complaint. Biden described...Politicsread more
Not since the year before the financial crisis have U.S. equities been so underweighted by fund managers, relative to stocks in the euro zone and emerging markets.
According to Bank of America Merrill Lynch's monthly fund managers survey, the allocation to U.S. stocks by global fund managers fell to net 28 percent underweight, the largest underweight since November 2007. At the same time, those overweight in emerging markets stocks is the highest since December 2010.
BofA analysts blame the weak U.S. dollar, which the fund managers now see as the most undervalued since December 2014. The dollar index is down 10 percent since the beginning of this year.
The , representing U.S. large caps, is up 11 percent since the beginning of the year, while the EEM, iShares MSCI Emerging Markets ETF is up 30 percent.
A majority of the fund managers, 54 percent, view volatility as the most undervalued asset. Bitcoin was viewed as the most crowded trade, followed by Nasdaq.
As recently as March, long U.S. dollar was viewed as the most crowded trade.
BofA surveyed 181 fund managers between Sept. 1 and 7.