Markets posted their fifth straight session of gains Thursday, bouncing back from a deep sell-off that sent the Dow into a correction. Jurrien Timmer, Director of Global Macro at Fidelity, breaks down why there has been such choppy trading in the markets.
Timmer says the two years leading up to the correction were unusually quiet due to the markets firing on all cylinders. Last August was a pivotal moment for markets because the chances of corporate tax cuts spiked. Timmer says another factor was the bond market because it was way too complacent about the possibility of rate hikes.
The VIX index, which serves as a "fear gauge" in markets, spiked in recent weeks. Timmer places the blame on hedge funds and traders who were short volatility. He added that the fundamentals of the economy are still relatively constructive and volatility will settle back down.
They are playfully called the “forgotten five”: A handful of toys — the pogo stick, the Fisher-Price Corn Popper, My Little Pony, PEZ dispensers, and Transformers — that regularly approach toybox royalty as finalists for the National Toy Hall of Fame, only to be tossed back on the pile.
Rite Aid’s plan to close more stores as part of its bankruptcy process could hurt access to medicine and care, particularly in some majority Black and Hispanic neighborhoods and in rural areas, experts say.
Taylor Swift's concert tour has dominated the box office in recent days and it's also the top-grossing concert film of all time here in the U.S. But a conversation on social media raised questions about movie etiquette and videos shared show film audiences singing, shining their phone flashlights and dancing in the aisles.
Stocks fell at the open Tuesday as the 10-year Treasury yield spiked following retail sales data and bank earnings, raising concerns over more rate hikes. Investors are also keeping an eye on tensions in the Middle East and its potential effect on global markets.
