Wall Street ends sharply higher, led by Dow surge
Wall Street rallied on Monday, with the Dow completing its strongest session in over three months as investors piled back in to energy and other sectors expected to outperform as the economy rebounds from the pandemic.
Bitcoin slumps further as China tightens crypto crackdown
Bitcoin tumbled on Monday to a two-week low on China’s expanding crackdown on bitcoin mining, as investors grew more uncertain about the future of the leading cryptocurrency.
Morrisons leaps after rejecting $7.6 bln private equity bid
Morrisons (MRW.L) shares surged as much as 35% on Monday on hopes that U.S. private equity firm Clayton, Dubilier & Rice (CD&R) might raise its proposed offer for the British supermarket group or flush out other bidders.
Wall St rebounds after Fed-induced pullback
Wall Street’s main indexes were set to open higher on Monday as financials and energy stocks rebounded after hawkish comments from the Federal Reserve last week led the blue-chip Dow and the benchmark S&P 500 to their biggest weekly fall in months.
Asian stocks drop as Fed shift reverberates; Treasury yields slide
Asian stocks dropped on Monday as investors mulled the implications of a surprise hawkish shift last week by the U.S. Federal Reserve, while the Treasury yield curve flattened further with 30-year yields dropping below 2%.
Ackman’s SPAC signs deal to buy 10% of Vivendi’s Universal
Billionaire investor William Ackman’s Pershing Square Tontine Holdings (PSTH.N) signed a deal to buy 10% of Universal Music Group (UMG), Taylor Swift’s label, for about $4 billion, the companies said on Sunday.
Wall St Week Ahead Fed shift causes rally in value stocks to wobble
The Federal Reserve’s hawkish shift is forcing investors to reevaluate the rally in so-called value stocks, which have taken a hit in recent days after ripping higher for most of the year.
Bank of Canada to break sequence of lower terminal rates as governments splurge
With fiscal spending booming and households flush with cash, investors are betting that the Bank of Canada’s next tightening cycle, expected to begin in 2022, will result in interest rates climbing above the previous peak for the first time in decades.
Explainer: Mystery behind slump in India’s Adani Group company shares
Shares of companies controlled by Indian billionaire Gautam Adani recorded their biggest weekly losses ever. The six stocks cumulatively lost 1.91 trillion Indian rupees ($25.83 billion) of value over five days through Friday.
COVID deals new blow to foreign carmakers’ Indian dream
Foreign automakers’ hopes of a booming Indian car market are fading fast as a brutal second wave of COVID-19 infections and limited government room for more stimulus spending suggest a recovery could lag far behind China and the United States.
