Category: Market News

Prices for both benchmark had climbed by more than 1% Wednesday after U.S. government data showed an unexpectedly large fall in domestic crude inventories. On its first full session as a front-month contract, West Texas Intermediate crude for May delivery CLK9, -0.03%  on the New York Mercantile Exchange was down 2 cents, or less than 0.05%, to $60.21 a barrel after tapping a high of $60.39. May Brent crude LCOK9, -0.53% shed 11 cents, or 0.2%, to $68.39 a barrel on ICE Futures Group. U.S. benchmark WTI remains up more than 2% for the week and…

Increased volatility and macro uncertainty, which has affected a large swath of asset classes, has investors looking for new solutions for an aging bull market. Can macro-themed ETFs provide a way for investors to take advantage of relative-value strategies in the intermediate term? On the upcoming webcast, How to Manage A Mature Bull Market With Macro-Themed ETF Strategies, Robert Nestor, President of Direxion, and David Mazza, Managing Director and Head of Product for Direxion, will look to strategies that may allow investors to more precisely implement their own convictions about…

From Mark Decambre: Popular gauges of financial institutions on Wall Street traded solidly lower after the Federal Reserve Wednesday downgraded its forecast for U.S. economic growth and indicated that policy makers wouldn’t hike rates in 2019. That reaffirmation of its earlier dovishness provides a poor environment for bank’s, whose business models perform better in a rising interest-rate environment. The 10-year Treasury note fell to 2.53%, hitting its lowest level since early January of 2018, after the Fed policy update. Meanwhile, the Financial Select Sector SPDR ETF XLF, -2.06% fell 0.6%, while the S&P…