For one, while September has historically been bad for stocks, when the market is up more than 15% through August, the rest of the year usually sees gains too. "Yes, there is still a fair amount of uncertainty to be resolved in the coming months that will likely lead to shorter periods of heightened volatility, but we continue to believe that higher US stock prices through year-end is the path of least resistance with our bull case scenario (5,050) becoming increasingly more likely," Belski wrote on Tuesday night.īelski points to several key tailwinds. But BMO Capital Markets Chief Investment Strategist thinks the most likely next move in markets is to the upside. Stocks have slumped to start a seasonally bad month for the S&P 5000. 'Higher stock prices are path of least resistance,' BMO says The company was challenged during the pandemic lockdowns, and has tried to reinvent itself as more than a traditional theater chain in an era of streaming at home videos. Shares underwent a 10 for 1 reverse split in August prior to the conversion.ĪMC, also known as an original flagship meme stock, has played into vocal support from retail investors since 2021. "AMC should now be able to raise additional equity capital," AMC CEO Adam Aron wrote in a letter to investors following the court approval. Investors anticipated a share sale following last month's court approved settlement which allowed the company to convert AMC’s special preferred shares, known as ( APE) units, into AMC common stock. The company said it plans to use the proceeds “to bolster liquidity, to repay, refinance, redeem or repurchase its existing indebtedness,” and general corporate purposes. Businesses across the country reiterated their expectations that wage growth will slow broadly in the near term.ĪMC ( AMC) plans to issues more stock and investors in the former meme-stock trade aren't reacting positively to the news.ĪMC Entertainment stock tanked more than 30% on Wednesday after the cinema chain announced plans to sell up to 40 million shares. Though, many contacts suggested "the second half of the year will be different" when it comes to wage growth. That trend has kept power in the hands of workers and helped boost wages. Most districts reported price growth slowed overall, decelerating faster specifically in manufacturing and consumer-goods sectors.ĭistricts across the country saw subdued job growth, as companies continued to deal with a shortage of skilled workers for open jobs and the pool of job applicants remained limited. 19-20, when officials are expected to take a breather and hold rates steady in the range of 5.25%-5.5% to make sure inflation data continues to show cooling. The Fed will hold its next policy meeting on Sept. In July Fed officials raised interest rates for the 11th time since March 2022 in what may be the first of two rate hikes that officials have penciled in for the remainder of the year. Central bank officials will use this information in two weeks when they meet for their policy meeting. The Beige Book compiles anecdotal evidence across the Fed’s 12 bank districts. The Fed’s Beige Book revealed Wednesday that businesses in several districts struggled during August to pass on costs to consumers, as costs of making goods are growing faster than prices. Yahoo Finance's Jennifer Schonberger reports: Fed Beige Book shows slowdown may be comingĪ look at the Federal Reserve's 12 bank districts showed the resilient US economy is showing some cracks.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |