One of the most frustrating features of today’s Wall Street is the surfeit of homogenous research that says a lot without saying very much at all. The majority of sell-side equity strategists tend to offer relatively predictable calls typically within 5-10% of the median and only change their views when the rest of the herd does as well, often when market moves leave little choice
Shares advance buoyed by gains in energy stocks; Monadelphous seals $200m contract with Albemarle; Credit Suisse fined $575m over Archegos fiasco. Follow here for more.
Growing fears about China's latest Covid-19 outbreaks Tuesday rattled investors, who fear authorities will revert to highly restrictive containment measures