This weekend a year ago the Nasdaq Composite hit a record high. And why not. The Fed Funds rate was then effectively zero, while the central bank continued to buy assets, pumping liquidity into the ma...
Tag: article_normal
Fed must keep raising rates until it is certain inflation has stopped climbing, Kashkari says
The Federal Reserve needs to keep raising interest rates until it is sure inflation has hit a ceiling, said Minneapolis Fed President Neel Kashkari on Thursday. The central bank can’t be overly persua...
The latest rally in stocks may be almost over, Bank of America warns
Investors hoping to squeeze some more gains out of the stock market’s latest bear-market bounce might be too late, according to a team of strategists at Bank of America. According to a Friday note sen...
Did Bullard undershoot? Stifel economists say fed funds rate may need to go to 8% or even 9%.
A day after a Federal Reserve official’s market-moving admission that interest rates may need to go to as high as 7%, analysts came up with an even more surprising conclusion: that 7% still won’t be h...
Ontario Teachers’ Pension Plan is latest FTX investor to mark venture investment to zero
It’s relatively rare for an institutional investor to make a public statement about a loss on a venture-capital investment, but nothing about FTX International’s $32 billion blow-up and bankruptcy is ...
Scaramucci says he did buy FTX token after getting investment from Sam Bankman-Fried
Anthony Scaramucci’s investment fund SkyBridge Capital bought $10 million worth of FTT tokens after receiving an investment from FTX founder Sam Bankman-Fried. The Financial Times reported on Thursday...
Boeing reorganizes aerospace and defense business, consolidates it in fewer divisions
Boeing Co. BA, +0.81% said Thursday it was reorganizing its aerospace and defense unit, going to four divisions from eight, to “accelerate operational discipline, program quality, safety and per...
Veteran manager offers 5 ‘cheap, quality, dividend’ stocks that will let you play one of tech’s biggest themes.
2022 may be remembered as the year investors fell out of love with tech stocks. While the Nasdaq Composite COMP, -3.91% is up about 5.3% this quarter, that’s after three dismal ones, and a 28% loss fo...
Trump Organization CFO Weisselberg chokes up on witness stand, claims his ‘personal greed’ drove $1.7 million tax-avoidance scheme
NEW YORK (AP) — Donald Trump’s longtime finance chief choked up on the witness stand Thursday, saying he betrayed the Trump family’s trust by scheming to dodge taxes on $1.7 million in company-paid pe...
Liberty plans to launch tracking stock for the Atlanta Braves Major League Baseball team
Liberty Media Corp. LSXMA, -1.51% LSXMB, -2.73% LSXMK, -2.03% BATRA, +6.45% BATRK, +7.12% FWONA, -1.50% FWONK, -1.84% said Thursday it plans to split off the Atlanta Braves and its real estate project...
History says inflation could persist for a decade
If you are a retiree, or even near to retirement, you are probably more vulnerable to inflation than most. Your cost of living is probably rising faster than your income. You’re lucky if any pension o...
AT&T exec says ‘it’s only a matter of time’ before people ‘really’ feel inflation
AT&T Inc. Chief Financial Officer Pascal Desroches says “it’s only a matter of time” before consumers start to “really” feel the impact of inflation, but he thinks the wireless business will prove...
Elon Musk testifies in shareholder lawsuit over Tesla compensation package
WILMINGTON, Del. (AP) — Tesla TSLA, -2.01% CEO Elon Musk took the witness stand Wednesday to defend himself in a shareholder lawsuit challenging a compensation package he was awarded by the company’s ...
This is the chart that rattled U.S. financial markets on Thursday
One chart is all it took to move financial markets on Thursday. That chart was presented by St. Louis Fed President James Bullard as part of a presentation in Louisville, Ky., and it shows where he se...
FTX victims are setting up GoFundMe fundraisers to try to get their money back
People who say they have lost money in the collapse of crypto exchange FTX are turning to strangers to cover their losses by setting up GoFundMe fundraising pages. They include a man who says that he ...
Black Friday surprise: Jeff Bezos tells people not to buy cars, refrigerators and other big-ticket items. Critics call him out.
Billionaire Jeff Bezos, who founded the e-tail behemoth Amazon, has some spending tips as Americans gear up for the holiday shopping season — amid four-decade-high inflation and recession worries. Her...
10 crazy things detailed in FTX’s bankruptcy filing
On Thursday, John Ray, III, the new CEO of FTX, dropped a long-awaited declaration in U.S. bankruptcy court, giving a sober assessment of the collapse of Sam Bankman-Fried’s crypto empire. The bankrup...
Treasury curve inverts further below zero after Fed’s Bullard produces 5%-7% estimates for fed-funds rate
The spread between 2- TMUBMUSD02Y, 4.462% and 10-year Treasury yields TMUBMUSD10Y, 3.776% inverted more deeply on Thursday, shrinking to as little as minus 70.5 basis points, after a Federal Reserve p...
Dow drops 300 points as U.S. stocks open down after Bullard’s remarks
U.S. stocks opened lower Thursday, with the Dow Jones Industrial Average falling around 300 points, as investors weighed remarks from Federal Reserve Bank of St. Louis President James Bullard and a re...
Ardelyx stock rockets on heavy volume after positive FDA panel vote on kidney disease treatment
Shares of Ardelyx Inc. ARDX, +35.66% rocketed 75.4% on heavy volume toward a 16-month high in premarket trading Thursday, after an advisory panel of the U.S. Food and Drug Administration voted that be...
The secret to a happier retirement might be in your ‘retirement quotient’
You know all about IQ (intelligence quotient) and probably EQ (emotional quotient or emotional intelligence). But if you’re getting close to retirement or in retirement, you might also want to know ab...
Sam Bankman-Fried, Tom Brady and Steph Curry named in lawsuit over FTX collapse
Sam Bankman-Fried, former CEO of bankrupt crypto exchange FTX, has not had a good couple of weeks. The crypto maven known as SBF has seen his company go bankrupt and his net worth drop by billions of ...
More trouble is brewing in the $24 trillion Treasury market: This time, it’s about central clearing
Efforts to reduce risks within the nearly $24 trillion U.S. Treasury market, the world’s deepest and most liquid securities market, are ironically creating angst among market players. The anxiety is c...
They pulled money out of FTX at last minute: ‘Thank God I dodged it twice’
As the FTX debacle started to unravel last week, a 26-year-old customer of FTX.US who lived in the New York City area faced a thorny dilemma. While he was concerned about the situation that was unfold...
Palo Alto Networks one of 2022’s best software stocks after another beat-and-raise quarter
Palo Alto Networks Inc. shares rallied Friday into rarified air for a tech company — and especially for an enterprise software company — in 2022, following another beat-and-raise quarter and praise fr...