Traders of futures contracts tied to the Federal Reserve's policy rate reacted to a sooner-than-expected reduction in borrowing costs Tuesday with bets on more to come as the central bank moves to try to shield the U.S. economy from the effects of the new coronavirus.
It's OK to panic; just don't act on it, says financial psychologist Brad Klonz. Here are his techniques to stop emotions from ruling your financial life.
The homebuilders' ETF (ITB) is near the high of the session, up almost 2.3% and up 6.2% week-to-date.
Bank stocks sold off in unison on Tuesday on concerns lower rates would hit lending margins.
Oil prices fell in a volatile session on Tuesday, succumbing to fears that the coronavirus would take a heavy toll on energy demand even after the Federal Reserve cut U.S. interest rates and OPEC and allied producers considered more output cuts to support prices.
Impossible Foods on Tuesday announced an average 15% cut in prices of its vegan products sold to U.S. distributors as the plant-based meat maker tries to make its patties more affordable to compete better with beef.
Brown said the market's weren't in bad shape coming into the day, but the cut was confusing to investors.
Global equity markets seesawed erratically in volatile trade and gold prices rose more than 3% on Tuesday after the Federal Reserve cut interest rates in an emergency move to shield the U.S. economy from the impact of the coronavirus.
A technical committee of OPEC and its allies considered a cut in oil production of 600,000 to 1 million barrels per day (bpd), and recommended a reduction in output of at least 600,000 bpd, two sources said.
The U.S. Federal Reserve cut interest rates on Tuesday in a bid to shield the world's largest economy from the impact of the coronavirus, though Fed Chair Jerome Powell suggested the threat to the economy would not soon abate.
Fidelity Investments said on Tuesday operating profit in 2019 climbed 10% to $6.9 billion as investors pushed their cash into money-market and passively managed products while pulling billions of dollars from actively managed stock funds.
General Motors Co executives on Wednesday will tackle one of their toughest tasks: Persuading investors that a Detroit automaker can catch up with Elon Musk and Tesla Inc as vehicles go electric.
Wall Street tumbled in a volatile session on Tuesday after the Federal Reserve's surprise half percentage-point cut in interest rates raised alarm over the magnitude of the coronavirus impact on the economy.
New York's ban on single-use plastic bags, and its accompanying 5-cent fee for paper bags, is a lens into consumer psychology around money and how companies manipulate it.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Saumyadeb Chakrabarty)