Fed says banks could withstand 10% unemployment, 55% stock price drop in annual stress test

Fed says banks could withstand 10% unemployment, 55% stock price drop in annual stress test

The Federal Reserve Board on Thursday projected the potential for a rockier road ahead for banks than it did a year ago, but said the 33 financial institutions it reviewed passed its annual stress test of capital reserves. The Fed estimated $612 billion in potential losses for banks in its most severe economic scenario, and … Read more

The S&P 500 could slide another 33% in a ’70s-style inflation environment: Societe Generale

The S&P 500 could slide another 33% in a '70s-style inflation environment: Societe Generale

The bear market in stocks probably isn’t over — and could have much longer to run if the economy falls into a 1970s-style stagflation scenario, a Wall Street equities strategist warned this week. The S&P 500 officially entered a bear market last week, falling more than 20% from its Jan. 3 record finishes. The US … Read more

Even this pessimistic Bank of America strategist says the bear-rally bandwagon has room to charge ahead

Even this pessimistic Bank of America strategist says the bear-rally bandwagon has room to charge ahead

Fixes the headline to clarify that it’s a bear rally, not a bear market, that the analyst says will continue. A stock market which has seen five straight advances for the Dow Jones Industrial Average DJIA still doesn’t have many believers. After meeting clients in the UK, Michael Hartnett, chief investment strategist at Bank of … Read more

Dividend stocks have trounced the market this year. Here are 15 high-yield stocks expected to raise payouts the most through 2024

Dividend stocks have trounced the market this year.  Here are 15 high-yield stocks expected to raise payouts the most through 2024

The stock market, shocked by the Federal Reserve’s policy changes to fight inflation, has been gored this year, with growth and technology companies bearing the brunt of the biggest declines. Dividend stocks, in contrast, have actually risen. Below is a screen of the components of the S&P 500 High Yield Index expected to raise their … Read more

Bank of America is raising its hourly minimum wage to $22 — here’s how many people don’t even come close to pay like that

Bank of America is raising its hourly minimum wage to $22 — here's how many people don't even come close to pay like that

Bank of America workers are getting a pay bump at the end of June when minimum wages climb to $22 as a part of the major bank’s longstanding plan to get its starting rate to $25 by 2025. It’s good news for the bank’s workers at a time when inflation keeps increasing the cost of … Read more

Buy the dip or sell the ‘rip’?: What’s next as S&P 500 tests bear-market territory

Buy the dip or sell the 'rip'?: What's next as S&P 500 tests bear-market territory

Investors, already grappling with a sinking stock market and fears that the US economy may be heading for a recession, now turn their focus to the consumer. For one thing, consumer discretionary stocks are among the hardest hit. The market’s fixation on peak inflation and how many times the Federal Reserve could hike interest rates … Read more