Watchful Markets See Fed Rate Hike Hint In September
A week of key U.S. data starts with ADP private payrolls on Wednesday and July factory orders. Employment reports culminate Friday with August jobs data, guiding whether the Fed lifts rates in September and stirs market activity.
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SigFig Investors Lead in Domestic Equity Allocation
SigFig data shows top decile investors over 18 months shifted more into domestic equities while MSFT remained the largest holding. AAPL led in buys and sales, with over half a million users nationwide and about 200 billion dollars in total assets tracked by SigFig.
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ExxonMobil and Phillips 66 Stocks Jump on Investor Bets
ExxonMobil shares rose as crude surged about 25 percent in three days to near 49 dollars per barrel with OPEC open to price target discussions. Phillips 66 jumped after Warren Buffett's Berkshire Hathaway disclosed an 11 percent stake to capitalize on beaten prices.
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Buffett buys stake in Phillips 66 amid oil price rebound
Buffett reveals an about 11 percent stake in Phillips 66, a Houston energy company. Shares sit near $79, with analysts targeting roughly $93 in 18 months as oil price direction remains the key wildcard. Investors may pursue broader energy exposure via Vanguard Energy ETF to ride an oil recovery while limiting single stock risk.
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Delay in SEC case against former SAC exec Steven Cohen
The Justice Department seeks Supreme Court review of a key insider trading ruling, prompting a stay in the SEC administrative proceeding against billionaire Steven Cohen until November 30. The move follows the Second Circuit decision requiring proof of a close relationship and intent in insider trades, which could affect broader prosecutions and Cohen's transformed SAC Capital into a family office.
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