MELBOURNE, Australia — Over the last week or so, it’s been easy to forget that Novak Djokovic is not the defending Australian Open champion. Partly because he is a 10-time winner here, partly because of his outsized profile, and partly because he remains a magnet for drama — even when he’s not playing.Ahead of the tournament, he appointed old rival Andy Murray as his coach in a shocking — but also logical — union of two of the most important men’s tennis players in the last 20 years. Then he agreed to play doubles with Nick Kyrgios, clinching their transformation…
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The short-term direction of stocks hinges on Wednesday’s inflation report, and JPMorgan broke down how the market will react to different numbers. The Bureau of Labor Statistics is set to release its closely watched reading on the December consumer price index at 8:30 a.m. ET. That’s expected to show 0.3% monthly gains on both the headline and core readings — the latter excluding food and energy — and respective annual inflation rates of 2.9% and 3.3%, according to a Dow Jones survey of economists. JPMorgan’s trading desk focused on the monthly core CPI number as the most critical, and dissected…
Investors looking to boost returns in the coming years may want to consider upping their bond allocations, according to Vanguard. The asset manager has a model portfolio that’s overweight on fixed income, reflecting a roughly 40% allocation toward equities and 60% in bonds. In particular, it’s overweight on U.S. credit and U.S. long-term bonds compared to a benchmark that’s split 60% toward equities and 40% in fixed income. This reflects Vanguard’s belief that higher bond yields can offer some cushion against modest increases in rates. This skew toward bonds is especially important as the 10-year Treasury yield has been on…
Wall Street’s biggest financial institutions kick off fourth-quarter earnings on Wednesday, with portfolio names Wells Fargo , Goldman Sachs , and BlackRock set to report results before the opening bell. The rally in financial stocks last year, which really started in October 2023, went into high gear in the run-up to the Federal Reserve ushering in a monetary easing cycle with a jumbo 50-basis-point interest rate cut at its September meeting. It was supercharged in early November after Republican Donald Trump emerged as the winner of the presidential race and the Fed cut rates by another 25 basis points. Following…
Chinese made BYD passenger battery electric vehicles and plug-in hybrid electric vehicles collectively known as new energy vehicles in China in a compound in Sheerness, Kent. Issue date: Thursday April 4, 2024.Gareth Fuller | Pa Images | Getty ImagesPresident Joe Biden’s outgoing administration is finalizing rules on Tuesday that will effectively bar nearly all Chinese cars and trucks from the U.S. market, as part of a crackdown on vehicle software and hardware from China.Washington’s latest move against Chinese vehicles comes after the Commerce Department said this month it was considering a similar crackdown on Chinese-made drones, in the wake of…
Executive Chair and CEO of Microsoft Corporation Satya Nadella speaks during the “Microsoft Build: AI Day” event in Jakarta, Indonesia, on April 30, 2024.Ajeng Dinar Ulfiana | ReutersMicrosoft plans to pause hiring in part of its consulting business in the U.S., according to an internal memo, as the company continues seeking ways to reel in expenses. The announced cuts come a week after Microsoft said it would lay off some employees. Those cuts will affect less than 1% of the company’s workforce, according to one person familiar with Microsoft’s plans.Although Microsoft indicated earlier this month that it plans to continue investing…
As the Kansas City Chiefs solidified themselves as the NFL’s newest dynasty, they’ve left a wake of destruction across a league that has struggled to keep pace. Three Super Bowl victories have helped quarterback Patrick Mahomes and head coach Andy Reid secure their legacies among the all-time greats.But their reign has come at a cost. Not to them, of course, but to their rivals. Josh Allen and the Buffalo Bills, Lamar Jackson and the Baltimore Ravens, Jalen Hurts and the Philadelphia Eagles and Kyle Shanahan and the San Francisco 49ers all have Super Bowl-sized holes on their resumes. And those…
Deaths from bombs and other traumatic injuries during the first nine months of the war in Gaza may have been underestimated by more than 40 percent, according to a new analysis published in The Lancet.The peer-reviewed statistical analysis, led by epidemiologists at the London School of Hygiene and Tropical Medicine, used modeling in an effort to provide an objective third-party estimate of casualties. The United Nations has relied on the figure from the Hamas-led Ministry of Health, which it says has been largely accurate, but which Israel criticizes as inflated.But the new analysis suggests the Hamas health ministry tally is…
Mark Wiedman, Head of the Global Client Business of BlackRock, attends the Global Financial Leaders’ Investment Summit, in Hong Kong, China Nov. 8, 2023.Tyrone Siu | ReutersMark Wiedman, a senior BlackRock executive with a tenure that spans more than 20 years, is leaving the asset manager, according to a person familiar with the matter.Wiedman, head of the global client business for the past two years, was believed to be a potential successor to Chief Executive Larry Fink.Wiedman was instrumental in driving BlackRock’s growth in passive investing. From 2011 to 2019, he led BlackRock’s exchange-traded and index strategies while assets under…
President-elect Donald Trump’s second term could usher in a number of surprises for investors to capitalize on in the year ahead, according to Evercore ISI. “Trump’s ability to dominate the news cycle, exert influence on financial markets and his desire to leverage uncertainty as a critical component of advancing his agenda by definition ensures that most of 2025 will be a Surprise,” wrote analyst Julian Emanuel in a Sunday note. “Surprise at home and abroad, in Policy, Financial Markets, and Society writ large.” The remarks come as the market gains that were seen immediately following the former president’s victory back…
