Palo Alto Networks topped expectations with its latest earnings, as well as with its forecasts for profit and billings, in an unusually scheduled report.
Market Extra: Fears of ‘domino effect of contagion’ amid China’s property woes could bring down U.S. Treasury yields from 16-year high
The lingering debt troubles in China’s real-estate sector and the uncertainty of Beijing’s policy support are feeding into broader unease in the U.S. financial market, potentially driving investors to snap up safer assets such as Treasury bonds and gold due to risk aversion, says LPL Financial’s Quincy Krosby.
: Biden says Trump’s policies weakened the U.S. while hailing new ties with Japan, South Korea
President Joe Biden criticizes Donald Trump’s approach to foreign policy, with his remarks coming as he talked up stronger ties with Japan and South Korea.
Market Extra: How the higher-for-longer theme in interest rates is playing out in SOFR futures
Attention is shifting away from the question of how much higher interest rates may go and toward how long it will be before Federal Reserve officials start to cut rates.
Crypto: Bitcoin’s tumble: Here’s what may have sparked selloff — and why it may spell trouble for other assets
Bitcoin fell below its 200-day moving average on Friday, as investors remain worried that global interest rates will stay high for longer while economy may slow down.
The Margin: ‘Magnificent Seven’ stocks are losing some of their shine, but their bonds are doing fine
Meta, Apple, Microsoft and Nvidia shares are all in correction territory, but investors are still buying their bonds.
In One Chart: Stocks might not get trampled by central bank ‘elephants.’ We were wrong, says UBS CIO
‘We have greater confidence the U.S. will avoid a recession in the next 12 months,’ says UBS chief investment officer for wealth management.
: Hawaiian Electric says it’s not planning a restructuring after Maui wildfires, but seeking advice to ‘endure’ as a strong utility
Utility says it’s working to restore power in Maui after devastating wildfires and denies it’s planning a restructuring.
Metals Stocks: Gold ends higher for the first time in 10 sessions
Gold settle higher Friday for the first time in 10 trading sessions, ending the longest daily losing streak for prices in more than six years.
Retirement Weekly: Finally, the answer to whether money buys happiness
Money leads to more happiness if you’re already a happy person
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