Right now, there is a tug-of-war between cyclical stocks and what has become the defensive game, the tech sector, apparently on a daily basis. “Washington and the Fed continue to push money into the system. And if the economy remains weak, then bonds and defense will do quite well, ”says …
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Text size Justin Sullivan / Getty Images Coca-Cola shares are rising early Wednesday morning, a day after launching better-than-expected earnings. The reason: An update from Morgan Stanley, which argues that stocks have become too cheap. Analyst Dara Mohsenian raised its rating on Coca-Cola (ticker: KO) shares to Equal Weight’s Overweight, …
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The counts: Previously owned home sales increased 20.7% in June when states reopened their economies following coronavirus-related blockades. Existing home sales occurred at a seasonally adjusted annual rate of 4.72 million, the National Association of Real Estate Agents reported Wednesday. It was a big rebound from May, when sales fell …
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Text size William Ackman Bryan Bedder / Getty Images for The New York Times A special-purpose acquisition company, or SPAC, sponsored by Bill Ackman’s Pershing Square Capital Management, made its debut on the New York Stock Exchange on Wednesday in the largest initial public offering of blank checks. The offering …
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Gold and silver rose further on Wednesday, after China said the United States ordered it to close its Houston consulate, signaling a further increase in tensions between the two countries and sparking demand for safe-haven assets. “Gold attracts flows when real interest rates compress and when political tensions increase, making …
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