Bank of America Corp.’s Savita Subramanian is the latest Wall Street strategist to boost her target for the S&P 500 after the sharp rally in 2023 left forecasts in the dust. The strategist now expects the benchmark to end the year at 4,600 points versus her earlier target of 4,300...
Options traders are seeking protection from higher interest rates ahead of Wednesday’s Federal Reserve policy decision. That’s a change from the norm over the past couple of weeks, during which traders broadly favored hedging for a pivot to rate cuts by mid-2024. The shift in momentum has a backdrop of...
Currency traders preparing for this week’s policy decisions from the Federal Reserve and Bank of Japan got fresh reminders that Japanese officials stand ready to intervene in the currency market with possible US backing if swings in the yen are deemed excessive. Japan’s top currency official Masato Kanda said Wednesday...