Stock futures little changed as Wall Street eyes busy earnings week: Live updates

2 hours ago

Nelson Peltz’s Trian hedge fund built a stake in Allstate

Nelson Peltz’s activist hedge fund Trian Fund Management has created a stake in insurance company Allstate, according to a report from Reuters. Allstate has suffered from the repercussions of various natural disasters, most recently the Maui wildfires in Hawaii.

The move could increase pressure on CEO Tom Wilson. The company recorded five quarters of losses.

Allstate shares jumped 3.8% Monday during after-hours trading.

— Hakyung Kim

3 hours ago

Forget Mondays. Gold has been impressive lately, Strategas says

Forget about the 0.5% drop in the price of gold on Monday.

What’s impressive is how well the price of gold has withstood rising interest rates and a bull market for the US dollar, Strategas Securities head of technical analysis Chris Fearon wrote to clients early Monday.

Last week, gold posted its fourth-best weekly advance over the past 10 years, Fearon wrote, and the precious metal proved remarkably resilient in the face of 10-year Treasury yields, which have jumped 4.5 percentage points since mid-2020, and inflation-adjusted yields have risen 3.75 percentage points. . point, federal funds rose 5.5 points and the dollar rose 20%. Meanwhile, gold has not changed since then. “It’s pretty impressive, all things considered,” Strategas said.

See chart…

Gold futures in 2023

-Scott Schnepper, Michael Bloom

3 hours ago

Stock futures open slightly higher on Monday

Leave a Reply

Your email address will not be published. Required fields are marked *