Yes, the IRS hires detectives who can use deadly force — but here’s some context and what gig workers who’ve been ripped off should do to avoid losing even more in taxes

Hi, MarketWatchers. Don’t miss these top stories. Yes, the IRS hires detectives who can use deadly force — but here’s some context: The IRS would be poised to get $80 billion in a decade if the Inflation Reduction Act is passed. read more Ex-Qualcomm VP charged with fraud for hiding role in microchip startup the … Read more

The share of Meta Platforms Inc. drops Thursday, still outperforms the market

Shares of Meta Platforms Inc. META, -0.48% fell 0.48% to $177.49 Thursday, on what turned out to be an overall mixed trading session for the stock market, with the Dow Jones Industrial Average DJIA, +0.08% up 0.08% to 33,336.67 and the NASDAQ Composite Index COMP, -0.58% decreasing by 0.58% to 12,779.91. Meta Platforms Inc. closed … Read more

Rising real yields could dampen US equity market’s outperformance against the rest of the world, says economist

As investor sentiment shifts by the day, the US stock market rally in recent weeks may once again be in jeopardy, as rising real yields threaten to undermine market performance relative to the rest of the world. That is the view of James Reilly, assistant economist at Capital Economics. In a note released Thursday, he … Read more

Have the shares fallen? Only when this ‘gorilla’ starts moving in the stock markets, BofA warns

Households, not hedge funds or large corporations, represent the largest class of owners of the US stock market. That matters because households, the “peaceful gorilla” in US stocks, have not fallen and risen despite this year’s sharp sell-off, meaning equities haven’t bottomed yet, according to a BofA Global. Collectively, households own about $38 trillion in … Read more

Wheaton Precious Metals Corp’s stock. rising Wednesday, but still underperforming the market

Shares of Wheaton Precious Metals Corp. WPM, +0.66% moved 0.66% higher to $44.27 on Wednesday in what proved to be an overall favorable trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE, +1.57% an increase of 1.57% to 19,885.94. Wheaton Precious Metals Corp. closed C$21.18 lower than the 52-week high (C$65.45) reached … Read more

Stock market investors applaud July’s inflation data. Big companies like Pimco and BlackRock are not so sure.

Wednesday’s release of the consumer price index report for July contained enough downside surprises to give equity investors hope that the worst inflation may be behind us. Still, an undercurrent of concern persisted among big names like Pimco and BlackRock Inc., the world’s largest asset manager. According to Pimco economists Tiffany Wilding and Allison Boxer, … Read more

Markets are extrapolating from one release to another. These are low-cost stocks that deliver long-term returns, say these fund managers

Wow, that was a bit scary: US consumer price growth slowed to 0% in July, the Labor Department reported Wednesday. Core price growth slowed to 0.3%, which was lower than expected. In the past 12 months, prices have risen by 8.5%, also below forecast. The soft reading appears to justify the 13% rally in the … Read more

ABN AMRO 2Q net profit rose above market views — Update

By Sabela Ojea ABN AMRO Bank NV on Wednesday reported an increase in net profit for the second quarter of 2022, which significantly exceeded market expectations, but also recorded higher operating expenses. The Dutch lender posted a net profit of 475 million euros ($485.1 million), compared to 393 million euros a year earlier. Net profit … Read more

Don’t be fooled by a drop in US inflation. On Wednesday, the markets will be tuned to another figure.

Traders, investors and economists are all counting on Wednesday’s consumer price index report showing a decline in annual headline inflation in the US for July. But there is another figure buried in the consumer price index data that tends to shock the markets. It’s called the core year-to-year CPI value, a measure that excludes volatile … Read more

BigBear.ai Shares Drop After Company Lowers Revenue Guidelines

By Stephen Nakrosis The shares of BigBear.ai Holdings, Inc. were lower in Tuesday’s late trading session after the company released its second-quarter financial results and lowered its revenue guidance for 2022. At 6:31 PM EDT, the company’s shares were down 21.53% at $2.15 per share. Volume in the after-hours market surpassed 219,000 shares. The stock … Read more