The latest U.S. inflation data is unlikely to ease worries over persistently high Treasury yields that have gnawed on stocks over the last few weeks, investors said, although many believe the longer-term trend of cooling consumer prices remains intact.
Financial News
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S&P 500 looks risky, may plunge 25% if something shocks system: Wilson
The S&P 500 is priced for perfection and could plunge 25% if problems crop up, Mike Wilson says. Morgan Stanley’s stock chief says the outlook for company earnings and the economy is pretty grim. Investors have piled into Big Tech to ride out the storm, but they may still feel pain, Wilson says.
Stock futures are little changed as Wall Street shifts focus back to path of interest rates
Renewed investor worries sprang up Wednesday over the threat of future interest rate hikes, sparked by stronger-than-expected economic data and price reports.
Detroit UAW workers strike threat tests Biden’s plan to win union votes
U.S. President Joe Biden’s strategy of backing politically crucial unions while avoiding strikes that cripple the economy has hit a bump in Detroit.
$1 trillion of debt to face ‘day of reckoning’: Bank of America
There’s around $1 trillion of private debt that’s headed for potential trouble, Bank of America warned. Most of that debt has been created by below-investment grade companies through high yield loans or bonds. Around $400 billion assets are considered to be in “pre-distress,” while $150 billion assets are “deeply distressed.”
