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Sue Chang
Sue Chang is a markets reporter based in San Francisco. She previously worked for Dow Jones Newswires in Asia and served as the agency's bureau chief in Seoul, South Korea. Follow Sue on Twitter at: @SueChangMW.
Email Sue at [email protected]
5:55 a.m. June 25, 2016
- By Sue Chang
S&P 500 could drop as much as 7% in Brexit swoon Volatility to keep investors on the edge“Keep a stiff upper lip” is a phrase often used to describe the Brits for their fortitude and stoicism during times of distress. U.S. investors may need to borrow the cliché next week as uncertainty and volatility reign in the stock market.
2:05 p.m. June 24, 2016
- By Sue Chang
Wall Street ‘fear gauge’ sees sharpest jump since 2011 after Brexit VIX surged above 20 but is well below levels seen during financial crisisBrexit—a portmanteau for Britain and exit—isn't the end of the financial markets as we know it despite the grim headlines. The VIX said so.
Nasdaq slumps 202 pts, or 4.1%, to finish at 4,707, among its worst days in 16 yrs
12:05 p.m. June 24, 2016
Nasdaq slumps 202 pts, or 4.1%, to finish at 4,707, among its worst days in 16 yrs
Dow tumbles 610 pts, 3.4%, to close at 17,400, worst percentage loss since Aug. 24
12:03 p.m. June 24, 2016
S&P 500 sinks 75 pts, or 3.6%, to end at 2,037, worst one-day drop since Aug. 24
12:01 p.m. June 24, 2016
S&P 500 sinks 75 pts, or 3.6%, to end at 2,037, worst one-day drop since Aug. 24
U.S. stocks plunge as uncertainties mount after U.K. votes to leave EU
12:00 p.m. June 24, 2016
U.S. stocks plunge as uncertainties mount after U.K. votes to leave EU
8:44 a.m. June 24, 2016
- By Philip van Doorn
Weekly roundup: Weekly roundup: Brexit, Moneyologist and threats to your money MarketWatch articles to read this weekend10 MarketWatch articles to read this weekend
6:35 a.m. June 24, 2016
- By Sue Chang
Bill Gross expects 'mini revolt'; bond yields not likely to fall further Legendary bond investor Bill Gross on Friday warned investors to brace for a "mini revolt" in the wake of the U.K.'s shocking decision to leave the European Union. Janus Global's Gross predicted a possible "political domino effect" where marginal countries in the bloc could follow the U.K's example. "A dysfunctional family before Brexit is likely to become even more dysfunctional," he said in an interview with CNBC. "The EU may not be at risk," but the grand vision that had underpinned the alliance is in jeopardy, he said. Gross, however, does not expect interest rates in the EU to drop significantly further from the current level. "The European Central Bank has gone about as far as it can go on negative rates," he said. The yield on the German 10-year bund sank 17 basis points to negative 0.092% earlier.
12:28 p.m. June 23, 2016
- By Sue Chang
Stocks close higher as Wall Street bets U.K. will vote to stay in EU Twilio soars 92% in its trading debut U.S. stocks close higher Thursday, with all three indexes rallying, as investors wagered that the U.K. will choose to remain in the European Union in a closely watched referendum.
6:26 a.m. June 23, 2016
- By Sue Chang
U.S. financial shares rally as expecations mount for U.K. to stay in EUU.S. financial stocks led the S&P 500's broad-based gains Thursday amid mounting expectations that the U.K. will remain in the European Union as the British went to the polls to determine the country's EU membership. The financials sector rallied 1.5% to push the large cap index higher. "Financials, discretionary, health care, and tech have been hurt while Treasury yields have fallen this year," said Brian Belski, chief investment strategist at BMO Capital Markets, in a report. If the U.K. decides in favor of continued EU membership, it will help to eliminate global uncertainties which will lead to higher bond yields, he said. A pair of polls released early Thursday indicated support for "remain" edging slightly ahead. The S&P 500 rose 15 points, or 0.7%, to 2,100 while the Dow Jones Industrial Average was up 135 points, or 0.8%, to 17,913 and the Nasdaq gained 38 points, or 0.8%, to 4871. The yield on the 10-year Treasury was last trading at 1.739%.
12:39 p.m. June 22, 2016
- By Sue Chang
Red Hat slumps after announcing quarterly earnings, deal to buy 3scale Shares of Red Hat Inc. fell in Wednesday's extended session after the open-source software provider posted in-line quarterly earnings and said it will buy API management company 3scale for an undisclosed amount. Red Hat reported fiscal first-quarter earnings rose to $61.2 million, or 33 cents a share, from $48 million, or 26 cents a share, a year earlier. On an adjusted basis, the company known for its Linux OpenStack platform would have earned 50 cents a share. Revenue grew 18% to $567.9 million. Analysts surveyed by FactSet had forecast earnings of 50 cents a share on revenue of $563 million. Red Hat projected second-quarter adjusted earnings per share of 54 cents, which is slightly below analysts' outlook of 55 cents a share. The company also announced it will buy back up to $1 billion in shares. Red Hat's stock fell nearly 5% after hours.
12:28 p.m. June 22, 2016
- By Sue Chang
U.S. stocks end slightly lower as clock ticks down to Brexit vote Tesla shares dive after SolarCity bidU.S. stocks pull back Wednesday after two days of gains as investors on the eve of a referendum on whether the U.K. will leave the European Union.
Red Hat Q1 revenue $567.9 mln vs $481 mln
12:26 p.m. June 22, 2016
Red Hat Q1 revenue $567.9 mln vs $481 mln
Red Hat Q1 earnings 33c a share vs 26c a share
12:25 p.m. June 22, 2016
Red Hat to buy back up to $1 billion in shares
12:25 p.m. June 22, 2016
Red Hat to buy back up to $1 billion in shares
Red Hat to buy API management company 3scale
12:23 p.m. June 22, 2016
Red Hat to buy API management company 3scale
Dow narrows losses but still fractionally lower at 17,822
9:57 a.m. June 22, 2016
Nasdaq rebounds to gain 7 points to 4,851
9:56 a.m. June 22, 2016
Nasdaq rebounds to gain 7 points to 4,851
S&P 500 edges back into positive territory, up less than a point to 2,089
9:39 a.m. June 22, 2016
S&P 500 up 3 points to 2,091; Nasdaq climbs 9 points to 4,851
8:24 a.m. June 22, 2016
Dow Jones Industrial Average slips into red, down 5 pts to 17,824
8:23 a.m. June 22, 2016
1:48 p.m. June 21, 2016
- By Sue Chang
Don’t look now! Helicopter money is already being deployed Helicopter money is often viewed as a policy tool of last resort Torsten Slok, Deutsche Bank’s chief international economist, argues that the Fed is already employing measures similar to helicopter money via its remittances to the Treasury.
12:41 p.m. June 21, 2016
- By Sue Chang
Dollar boosted by Brexit anxiety; Yellen reiterates cautious approach ‘Remain’ camp’s lead narrows in recent pollThe dollar rises, largely ignoring Federal Reserve Chairwoman Janet Yellen’s comments on Capitol Hill, gaining strength from uncertainties surrounding this week’s referendum to decide on the U.K’s membership in the European Union.
12:30 p.m. June 21, 2016
- By Sue Chang
Fedex shares slide following quarterly loss FedEx Corp. shares slipped in Tuesday's extended session after the package shipping company announced quarterly results. Fedex reported its fourth-quarter loss narrowed to $70 million, or 26 cents a share, from a loss of $895 million, or $3.16 a share, a year earlier. On an adjusted basis, the company would have earned $3.30 a share. Revenue edged up to $13 billion from $12.1 billion a year ago. Analysts surveyed by FactSet had forecast adjusted earnings of $3.28 a share on revenue of $12.77 billion. Fedex expects continued moderate economic growth and projected adjusted EPS of $11.75 to $12.25 for fiscal 2017. Shares of Fedex fell 2.4% after hours.
Fedex Q4 revenue $13 bln vs $12.1 bln
12:17 p.m. June 21, 2016
Fedex Q4 revenue $13 bln vs $12.1 bln
Fedex Q4 loss 26c a share vs $3.16 a share loss
12:17 p.m. June 21, 2016
Fedex Q4 loss 26c a share vs $3.16 a share loss
12:01 p.m. June 21, 2016
- By Sue Chang
U.S. stocks gain for second session as Brexit vote looms U.S. stocks gained for a second session on Tuesday as investors continued to monitor the latest developments out of the U.K. as the country prepared to go to the polls to decide on its membership in the European Union. The latest survey indicated that 45% of voters backed remaining in the EU versus 44% who favored leaving. Stocks had earlier come under pressure after Federal Reserve Chairwoman Janet Yellen testified at the Senate that a victory for the "leave camp" would pose a significant risk to the U.S. economy. The S&P 500 rose 6 points, or 0.3%, to close at 2,088. The Dow Jones Industrial Average added 23 points, or 0.1%, to finish at 17,827 and the Nasdaq Composite gained 7 points, or 0.1% to close at 4,843.
9:32 p.m. June 20, 2016
- By Sue Chang
Goldman Sachs expects steep dropoff in U.S. demand for stocks Wall Street bank keeps year-end S&P 500 target at 2,100Goldman Sachs slashed its 2016 estimate of U.S. demand for equities by nearly half on Monday.
Dow has best day since May 25, both on points and percentage gained
12:04 p.m. June 20, 2016
Dow has best day since May 25, both on points and percentage gained
Nasdaq climbs 36 points, or 0.8%, to close at 4,837
12:03 p.m. June 20, 2016
Dow Jones Industrial Average rises 130 pts, or 0.7%, to close at 17,805
12:02 p.m. June 20, 2016
Dow Jones Industrial Average rises 130 pts, or 0.7%, to close at 17,805
U.S. stocks bounce back as some Brexit jitters fade
12:01 p.m. June 20, 2016
S&P 500 up 12 pts, or 0.6%, to close at 2,083, its best daily percentage gain since May 25
12:01 p.m. June 20, 2016
S&P 500 up 12 pts, or 0.6%, to close at 2,083, its best daily percentage gain since May 25
10:10 a.m. June 18, 2016
- By Sue Chang
Investors fearing ‘summer shocks’ are hoarding the most cash since 2001 Appetite for quality assets is pushing bond yields to record lowsThe last time fund managers hoarded this much cash, the Arizona Diamondbacks defeated the New York Yankees 4 to 3 to win the World Series.
12:44 p.m. June 17, 2016
- By Sue Chang
U.S. stocks fall as ‘Brexit’ jitters cast long shadow Nobody wants to go home long this weekend, analyst saysU.S. stocks close down Friday, finishing out the week lower, as investors continued to fret over the possibility that the U.K. may leave the European Union on top of lingering concerns about the Federal Reserve’s reluctance to raise interest rates.
S&P 500 down 4 pts, or 0.2%, to 2,074, Nasdaq slides 35 pts, 0.7%, to 4,810
10:54 a.m. June 17, 2016
U.S. stocks pare losses with Dow industrials off 25 pts, or 0.1%, to 17,708
10:53 a.m. June 17, 2016
10:52 p.m. June 16, 2016
- By Sue Chang
Morgan Stanley fears policy makers repeating mistakes of 1930s Fiscal policy stimulus could avert relapse into recession: economistPolicy makers are repeating the mistakes that prolonged the Great Depression, say Morgan Stanley economists.
12:11 p.m. June 16, 2016
- By Sue Chang
Oracle climbs on higher cloud revenue despite missing Wall Street's earnings estimateShares of Oracle Corp. gained in Thursday's extended session after the business software giant reported higher revenue from its cloud platform, although its earnings missed Wall Street's estimate. Oracle reported its fiscal fourth-quarter earnings rose to $2.81 billion, or 66 cents a share, from $2.76 billion, or 62 cents a share, a year ago. On an adjusted basis, the company would have earned 81 cents a share. Revenue slid to $10.59 billion from $10.71 billion while total cloud-related revenue increased 51% to $859 million. Analysts surveyed by FactSet had forecast adjusted earnings of 82 cents a share on revenue of $10.46 billion. Oracle shares rose 2.9% in after hours.
Oracle Q4 revenue $10.59 bln vs $10.71 bln
12:01 p.m. June 16, 2016
Oracle Q4 revenue $10.59 bln vs $10.71 bln
