US economic worries are growing, but the stock market is holding firm.
The US is likely barreling toward a recession that could be worse than any in the past few decades, with a housing market in a meltdown and consumers on the ropes. Has Wall Street lost its head?
Many analysts say the stock market is fulfilling its role as a forward-looking barometer and that investors are looking past the current economic turmoil to a recovery later this year or next year. Others say such an outlook may be too optimistic.
In the coming week, a key moment for Wall Street will be the policy meeting of the US Federal Reserve, widely expected to make a small rate cut but signal a possible pause to assess the impact of a series of cuts and other stimulus for the US economy.
In the week to Friday, the Dow Jones Industrial Average of 30 blue chips edged up 0.33 percent to 12,891.86 and the Standard & Poor’s 500 broad-market index added 0.54 percent to 1,397.84.
The technology-heavy NASDAQ composite climbed 0.83 percent to 2,422.93.
Bonds fell in the past week on a shift into equities. The yield on the 10-year Treasury bond rose to 3.866 percent from 3.743 percent a week earlier and that on the 30-year bond increased to 4.589 percent against 4.517 percent.
Taiwanese actress Barbie Hsu (徐熙媛) has died of pneumonia at the age of 48 while on a trip to Japan, where she contracted influenza during the Lunar New Year holiday, her sister confirmed today through an agent. "Our whole family came to Japan for a trip, and my dearest and most kindhearted sister Barbie Hsu died of influenza-induced pneumonia and unfortunately left us," Hsu's sister and talk show hostess Dee Hsu (徐熙娣) said. "I was grateful to be her sister in this life and that we got to care for and spend time with each other. I will always be grateful to
REMINDER: Of the 6.78 million doses of flu vaccine Taiwan purchased for this flu season, about 200,000 are still available, an official said, following Big S’ death As news broke of the death of Taiwanese actress and singer Barbie Hsu (徐熙媛), also known as Big S (大S), from severe flu complications, the Centers for Disease Control (CDC) and doctors yesterday urged people at high risk to get vaccinated and be alert to signs of severe illness. Hsu’s family yesterday confirmed that the actress died on a family holiday in Japan due to pneumonia during the Lunar New Year holiday. CDC Deputy Director-General Tseng Shu-hui (曾淑慧) told an impromptu news conference that hospital visits for flu-like illnesses from Jan. 19 to Jan. 25 reached 162,352 — the highest
COMBINING FORCES: The 66th Marine Brigade would support the 202nd Military Police Command in its defense of Taipei against ‘decapitation strikes,’ a source said The Marine Corps has deployed more than 100 soldiers and officers of the 66th Marine Brigade to Taipei International Airport (Songshan airport) as part of an effort to bolster defenses around the capital, a source with knowledge of the matter said yesterday. Two weeks ago, a military source said that the Ministry of National Defense ordered the Marine Corps to increase soldier deployments in the Taipei area. The 66th Marine Brigade has been tasked with protecting key areas in Taipei, with the 202nd Military Police Command also continuing to defend the capital. That came after a 2017 decision by the ministry to station
PETITIONS: A Democratic Progressive Party official quoted President William Lai as saying that civil society groups are organizing the recall drives at the grassroots level Some civil society groups yesterday announced that they have collected enough signatures to pass the first-stage threshold to initiate a recall vote against Chinese Nationalist Party (KMT) legislators in 18 constituencies nationwide, saying that they would submit the signatures to the Central Election Commission (CEC) today. They also said that they expected to pass the threshold in eight more constituencies in the coming days, meaning the number of KMT legislators facing a recall vote could reach 26. The groups set up stations to collect signatures at local marketplaces and busy commercial districts. The legislators their petition drives target include Fu
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