Articles by Daniel Marsh
European Markets Retreat on Geopolitical Tensions and Economic Data
European equities declined on Friday, pressured by sustained high oil prices and geopolitical concerns. The STOXX 600 index fell 0.5%, heading for a second consecutive weekly loss.
Rocket Companies Stock Slides as Mortgage Rates Surge Past 6%
Rocket Companies stock declined 3.7% to $14.58 Thursday as mortgage rates rose above 6% and housing-related equities faced selling pressure. The company projected Q1 revenue between $2.6 and $2.8 billion.
NAB Shares Drop as Oil Surge Fuels RBA Rate Hike Expectations
National Australia Bank shares declined 2% on Thursday, mirroring a broader market selloff triggered by oil prices surpassing $100 a barrel. The move intensified investor speculation that the Reserve Bank of Australia could implement a rate hike as soon as next week.
Transocean Shares Dip Amid Oil Price Surge and Valaris Merger Scrutiny
Transocean shares declined slightly in Thursday trading, underperforming the broader energy sector as markets weighed merger execution risks against a geopolitical oil spike. The offshore driller's pending Valaris deal and substantial contract backlog remain focal points.
Pfizer Shares Dip Amid Market Selloff, Weight-Loss Drug Approved in China
Pfizer shares declined 1.6% on Thursday, caught in a broad market downturn. The company navigates falling COVID product revenue while advancing its pipeline, including a new weight-loss drug approval in China.
Mortgage Rates Climb, Housing Stocks Retreat Amid Mixed Data
Mortgage rates increased this week, with the average 30-year fixed loan reaching 6.11%. Housing starts and permits declined in January, though mortgage applications rose. Major homebuilder and lender stocks traded lower.
Cruise Stocks Sink as Oil Surge Fuels Fuel Cost Fears
Shares of major cruise operators declined sharply Thursday, led by Carnival and Royal Caribbean, as a spike in oil prices above $99 renewed investor anxiety over rising fuel costs and future profitability.
Grab Holdings Shares Slide on CEO's Planned Stock Sale, Weak Outlook
Grab Holdings shares declined more than 3% following a regulatory filing revealing CEO Anthony Tan's plan to sell up to 1.2 million shares. The stock has fallen 26% year-to-date, weighed down by a softer financial outlook and market-wide headwinds.
Wall Street Slides as Oil Surge, Credit Fears Rattle Investors
U.S. stocks tumbled sharply on Thursday, with the Dow Jones Industrial Average dropping over 550 points. The sell-off was driven by a spike in oil prices above $100 a barrel and fresh strains in private credit markets.