Russia’s ruble jumped 5% against the dollar on Wednesday as the Kremlin mulls capital controls. President Vladimir Putin reportedly held talks with officials on ways to prop up the ruble. The ruble crashed Monday, and on Tuesday Russia’s central bank raised its benchmark rate to 12% from 8.5%. Loading Something is loading. Thanks for signing… Continue reading Russia’s ruble spikes as Putin and officials mull ways to prop up the currency after it dropped below a penny this week
Bitcoin is headed to $180,000 if regulators approve the first spot ETF in the US, Fundstrat’s Tom Lee says
Fundstrat’s Tom Lee said the approval of a new spot bitcoin ETF could send the token soaring in 2024. He told CNBC Wednesday that bitcoin could reach $180,000 next year. The strategist still sees upside even if a spot bitcoin ETF doesn’t get approved by regulators. Loading Something is loading. Thanks for signing up! Access… Continue reading Bitcoin is headed to $180,000 if regulators approve the first spot ETF in the US, Fundstrat’s Tom Lee says
Stock Market Today: China Woes Weigh on Stocks; Homebuilders Get a Buffett Boost
The August sell-off continued Tuesday, with stocks slumping across the board. Investors had to contend with a shocking move from China’s central bank, as well as good-news-is-bad-news in the form of resilient U.S. consumer spending. Not all of the action was to the downside, however, with several stocks popping on news they were added to… Continue reading Stock Market Today: China Woes Weigh on Stocks; Homebuilders Get a Buffett Boost
What Is AI Investing?
AI investing has been the megatrend in 2023 – and for good reason. Goldman Sachs economists expect generative artificial intelligence to boost global labor productivity by 1 percentage point per year over the next decade, and, historically, “such periods of rapid productivity growth have been led by large investment cycles,” they say. What’s more, the… Continue reading What Is AI Investing?
US stocks slide amid banking fears, weak China data
Jennifer Sor Reuters / Lucas Jackson US stocks slid on Tuesday as investors fretted over the banking sector and China. A Fitch analyst said it could downgrade top US lenders, if the “operating environment” rating for the industry worsens. Meanwhile, China’s economy continued to sputter in July, weighing on investor sentiment. Loading Something is loading.… Continue reading US stocks slide amid banking fears, weak China data
Russia eyes more extreme measures to prop up the ruble after it crashes to less than a penny
Russia is mulling more extreme measures to prop up the ruble, which crashed on Monday. Kremlin officials discussed reviving a requirement on companies to sell export revenue, sources told Bloomberg. That comes as Russia’s central bank raised its benchmark rate to 12% from 8.5% on Tuesday. Loading Something is loading. Thanks for signing up! Access… Continue reading Russia eyes more extreme measures to prop up the ruble after it crashes to less than a penny
Crashing markets thinned the ranks of America’s millionaires last year as global wealth shrank for the first time since 2008
Global wealth declined in 2022 for the first time since 2008, UBS and Credit Suisse economists said Tuesday. Americans were hit hardest as stocks and bonds tumbled throughout the year, the banks said. Roughly 1.7 million US adults lost their status as millionaires. Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading Crashing markets thinned the ranks of America’s millionaires last year as global wealth shrank for the first time since 2008
Many offices buildings are going to be ‘obsolete’ and losses are headed for banks and investors holding real estate debt, property exec says
The highest tier of office buildings will continue to do well, property exec Scott Rechler said. “And then there’s Class B office or lower-grade Class A that effectively is going to become competitively obsolete.” That could lead to losses at the bank level and investor level, he warned. Loading Something is loading. Thanks for signing… Continue reading Many offices buildings are going to be ‘obsolete’ and losses are headed for banks and investors holding real estate debt, property exec says