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Bloomberg
Fed Rate Hikes Are Pushing Credit Market Toward Dysfunction, Bank of America Says
(Bloomberg) — The Federal Reserve needs to slow the pace of rate hikes to prevent credit market dysfunction, warned Bank of America Corp. strategists.Most Read from BloombergMacKenzie Scott Files for Divorce From Science Teacher HusbandMeta to Cut Headcount for First Time, Slash Budgets Across TeamsTop Apple Executive Is Leaving After Making Crude Remarks in TikTok VideoMarjorie Taylor Greene’s Husband Files for Divorce After 27 YearsPutin Says Annexation Is Forever, Defends Ukraine Land GrabDi
Reuters
Carnival Corp plunges on forecast of Q4 loss, delayed return to profitability
Carnival Corp on Friday forecast a loss in the fourth quarter after it reported results for the third quarter that fell well short of Wall Street estimates, as higher fuel prices and cheaper fares offset a rise in bookings. Shares of Carnival plunged 20% to $7.33 per share in midday trading, falling to nearly a 30-year low. High inflation has further hit cruise operators that have been running at a loss since the COVID-19 pandemic took hold in 2020 for an array of reasons including lockdowns, bans on cruises, safety issues and labor shortages.
TipRanks
Seeking at Least 16% Dividend Yield? This Top Analyst Suggests 2 Dividend Stocks to Buy
Inflation, interest rates, and recession – these are the bogeymen of investing, and they’ve been watching over our shoulders for the past several months. We all know the story by now, the rate of inflation is running at generational highs, the Federal Reserve is hiking rates in an attempt to push back against high prices, and that’s likely to tip the economy into recession. At a time like this, investors are showing a growing interest in finding strong defensive portfolio moves. It’s a mindset t
MarketWatch
AT&T maintains quarterly dividend, with yield above 7%
AT&T Inc. said Friday it was keeping its quarterly dividend at 27.75 cents a share, payable Nov. 1 to shareholders of record on Oct. 10. With the telecommunications and media company’s stock down 0.8% in afternoon trading, the annual dividend rate implies a dividend yield of 7.21%, which compares with the yield for the SPDR Communication Services Select Sector ETF of 1.17% and the implied yield for the S&P 500 of 1.83%, and the yield of the 10-year Treasury note of 3.742%. AT&T’s stock was the n
Benzinga
Dallas Man Charged in $26 Million Real Estate Scam Involving Chinese Investors
A Dallas real estate developer accused of scamming Chinese investors out of more than $26 million was indicted Tuesday on charges of wire fraud and securities fraud. Timothy Lynch Barton, 59, president of JMJ Development Inc. and CEO of real state investment firm Carnegie Development, allegedly traveled to Hangzhou, China, to market real estate investment opportunities in Texas to Chinese investors. During his presentations to potential investors, Barton claimed that the properties were located
Oilprice.com
The Next Bullish Catalyst For Oil Markets
Oil markets were relatively unscathed by Hurricane Ian, but another bullish catalyst is already looming over oil prices
MarketWatch
Market instability replaces inflation as the biggest risk, raising the chances of a pivot by the Federal Reserve
Market instability is the biggest risk to central banks globally, replacing inflation, owing to massive amounts of leverage. Market stability affords the Fed the space needed for the most aggressive rate-hiking campaign since the late 1970s. The BOE on Wednesday was forced to start buying bonds to solve a potential crisis with U.K. pension funds.
Reuters
‘Evidence of a slowdown’: US consumers spurn big-ticket items like cars, couches, cruises
U.S. consumers are exhibiting fragility ahead of the peak period for corporate results next month, as some are struggling to pay bills and others are slowing purchases of cars, sneakers, and household goods, the week’s earnings show. Data released on Friday showed U.S. consumer spending increased more than expected in August, but aggressive interest rate hikes from the Federal Reserve as it battles stubbornly high inflation are slowing demand. Nike, maker of Air Jordan and Converse sneakers, saw its shares tumble to the lowest level in 2-1/2 years on Friday, a day after the company said it needed bigger discounts to clear a build-up of inventory.
Bloomberg
China Shares Plunge to Lowest Valuation on Record in Hong Kong
(Bloomberg) — Grim milestones keep piling up for Chinese stocks listed in Hong Kong. Most Read from BloombergMacKenzie Scott Files for Divorce From Science Teacher HusbandMeta to Cut Headcount for First Time, Slash Budgets Across TeamsTop Apple Executive Is Leaving After Making Crude Remarks in TikTok VideoMarjorie Taylor Greene’s Husband Files for Divorce After 27 YearsStocks Plummet to 22-Month Low as Fed Hawks Circle: Markets WrapAs September draws to an end, the Hang Seng China Enterprises
Bloomberg
Banks Dealt Fresh Blow With Collapse of Brightspeed Debt Sale
(Bloomberg) — For the second time in two weeks, Wall Street bankers suffered a painful reminder of how quickly risk appetite is evaporating from credit markets as a $3.9 billion debt sale for a leveraged buyout collapsed.Most Read from BloombergMacKenzie Scott Files for Divorce From Science Teacher HusbandMeta to Cut Headcount for First Time, Slash Budgets Across TeamsTop Apple Executive Is Leaving After Making Crude Remarks in TikTok VideoStocks Plummet to 22-Month Low as Fed Hawks Circle: Mar
SmartAsset
Why Putting 20% Down on a Mortgage May Be a Mistake
When you put 20% down on the purchase of a home, you don’t have to borrow as much money as someone whose down payment is only 5% or 10%. And as a result, your monthly mortgage payment may be considerably … Continue reading → The post This One Chart Shows Why Putting 20% Down on a Mortgage May Be a Mistake appeared first on SmartAsset Blog.
The Wall Street Journal
Carnival Stock Sinks as Discounting Dings Earnings
Carnival shares lost more than a fifth of their value Friday as the cruise giant struggled to win over travelers without offering discounts. Carnival’s loss narrowed and sales rose significantly in the third quarter from last year, when tight Covid-19 restrictions limited cruises, but results fell short of Wall Street expectations. Shares of Carnival fell as much as 23% Friday.
