Bloomberg The bull market in the S&P 500 has further to run as the pandemic becomes endemic mid-year, according to Julian Emanuel, who in late 2019 correctly predicted the boom in retail investing. Continued fiscal and monetary support even if it’s diminishing — will help underpin US stocks this year along with historically low interest rates and robust US …

  Bloomberg Shares of technology and internet stocks fell on Monday, extending recent declines as investors continued to monitor a rise in Treasury yields. Losses were widespread across the group, with megacap names, semiconductor stocks and the software sector all tumbling. The group led broad declines in the US equity market, and the Nasdaq 100 Index fell more than 2%. …

  Bloomberg Lululemon Athletica Inc. shares tumbled after the company warned that financial results will come at the low end of previous guidance, saying the Omicron coronavirus variant was constraining its operations. Sales for the fiscal fourth quarter are trending towards the bottom of its range of $2.125 billion to $2.165 billion, the maker of yoga pants said in a …

  Bloomberg Bank of America Corp, (BofA) tallying its haul from a second banner year for Wall Street securities firms, is shifting its philosophy on bonuses and dramatically sweetening rewards after a bout of restraint a year ago. Senior executives are planning to increase the bonus pool for investment bankers by more than 40%. And for sales and trading operations, …

  Bloomberg Morgan Stanley agreed to pay $60 million to settle a class action suit by consumers claiming the firm failed to safeguard their personal information. The agreement, if approved by a federal judge in Manhattan, would resolve claims over two security breaches that compromised personal information of 15 million current and former clients, according to a group of them …

  Bloomberg Bond buyers face a “new conundrum” where Treasury yields will stay low even as the Federal Reserve hikes rates, despite the surge in the first week of the year, according to Goldman Sachs. The investment bank expects the bond market to be reluctant to lift the terminal rate during the coming tightening cycle. So while raising its year-end …

  Bloomberg Citigroup joined other investors in helping mPharma, a Ghanaian health startup, to raise $35 million for further expansion in Africa. Jam Fund Management II, Social Capital and Lux Capital Management provided equity of $30 million, while Citigroup approved a loan of $5 million for the venture, mPharma CEO Gregory Rockson said. Founded in 2013, mPharma is building a drug …

  Bloomberg Wells Fargo & Co Chief Risk Officer Amanda Norton, who joined in 2018 to help turn around the scandal-ravaged lender, is leaving as the cleanup continues. Norton, 55, will retire from the bank at the end of June, and a replacement will be named in coming weeks, Wells Fargo told staff in a memo. “Strengthening our risk and …

  Bloomberg South Korea’s won dropped to the weakest level in more than 17 months as traders geared up for a quicker pace of US interest-rate hikes and North Korea test-launched another ballistic missile. “The won’s weakness is expected to ease soon,” as China’s yuan — which Korea’s currency closely follows — will attract bullish bets in the first quarter, …

  Bloomberg Credit Suisse Group AG Chairman Antonio Horta-Osorio is likely to receive a warning, rather than a dismissal, from the bank’s board of directors after a probe into his repeated violations of quarantine rules last year, Tages Anzeiger reported. The bank’s board of directors is expected to publicly issue a reproach of Horta-Osorio’s conduct in the coming weeks, the …