By Carolina Mandl NEW YORK (Reuters) -Global hedge funds reaped limited gains from a big Wall Street stock rally triggered by a U.S.-China agreement on tariffs on Monday, a Morgan Stanley note on Tuesday showed. Hedge funds rose 0.60% on average on Monday, underperforming the S&P 500 index, which advanced 3.23% and closed at its…
Market Briefing As we begin a critical stretch in the second full week of May, traders are navigating a landscape shaped by mixed economic signals and renewed volatility. Inflation remains sticky, with the spotlight firmly on Wednesday’s CPI release. Earnings season is winding down but still delivering market-moving moments, especially in retail and tech. Meanwhile,…
By Niket Nishant (Reuters) -Wells Fargo cleared its twelfth consent order since 2019 and moved closer to fixing longstanding regulatory issues that have kept the bank under an asset cap of $1.95 trillion. The Consumer Financial Protection Bureau, the top U.S. consumer watchdog, has lifted a 2018 consent order related to the lender’s compliance risk…
By Aatreyee Dasgupta (Reuters) -Sabre Corp said on Monday it will sell its hospitality software platform to asset manager TPG for $1.1 billion and use the cash to pare its debt, lifting the travel technology provider’s shares nearly 26% in early trading. The stock is now up 13.5%. The company had a market capitalization of…
By Gwladys Fouche OSLO (Reuters) -The world economy appears to be fragmenting, posing the biggest risk to markets currently as it brings low growth and higher inflation, the CEO of Norway’s $1.8 trillion sovereign wealth fund told Reuters. The fund, which invests the Norwegian state’s revenues from oil and gas production, is the largest of…
(Reuters) – Barclays lowered its Brent crude forecast on Monday by $4 to $70 a barrel for 2025 and set its 2026 estimate at $62/b, citing “a rocky road ahead for fundamentals” amid escalating trade tensions and OPEC+’s pivot in its production strategy. Despite oil market fundamentals evolving “significantly better than expected” in early 2025,…
(Reuters) -There is a much higher risk of stagflation than recession in the U.S. economy over the next year, while the asset class most expected to outperform in 2025 is cash, according to the results of a JPMorgan survey published on Friday. The trade war started by the U.S. administration of Donald Trump is seen…
(Reuters) -Elon Musk’s Department of Government Efficiency has ordered the cancellation of around $400 million in grants doled out by AmeriCorps, the federal government’s national service and volunteering agency, the Washington Post reported on Friday, citing three sources with knowledge of the matter. The canceled grants amount to 41% of the agency’s annual budget for…
HONG KONG (Reuters) – China’s Foreign Minister Wang Yi said Beijing stands on the side of international rules on U.S.-imposed tariffs and opposes protectionism, the Foreign Ministry on Saturday. Speaking on the sidelines of a China-Central Asia foreign ministers meeting in Kazakhstan, Wang said Beijing would seek solidarity with other countries on the tariff situation…
(Reuters) -Elon Musk’s xAI Holdings is in talks with investors to raise roughly $20 billion in funding for his newly combined artificial intelligence startup and social media business, Bloomberg News reported on Friday, citing people familiar with the matter. The transaction would value the company at more than $120 billion, the report said, citing one…
