Markets

Wall Street has turned unusually bearish on the stock market as their 2023 predictions arrive.Ongoing fears of an imminent economic recession have paralyzed Wall Street strategists.For the first time in more than 20 years, Wall Street expects a flat year for stocks in 2023. Loading Something is loading. Thanks for signing up! Access your favorite… Continue reading Recession fears have paralyzed Wall Street as 2023 stock market predictions turn unusually bearish

The Fed will need to rate interest rates closer to 6% to meaningfully ease inflationary pressures, said legendary property investor Sam Zell.  A “shocking event” was mortgage rates more than doubling this year, the billionaire told Fox Business.  Zell also sees the US economy falling into a recession.  Loading Something is loading. Thanks for signing… Continue reading Billionaire real estate investor Sam Zell says don’t take too much comfort in declining mortgage costs, and the Fed will keep hiking rates close to 6%

Stocks won’t be hit as badly by weak corporate earnings in 2023 as some think, according to BlackRock’s Kate Moore. Moore noted that while recession fears are high, firms are preparing for a recession, which could buffer the market from losses. “There’s a decent probability that the super bearish economic and earnings calls for 2023… Continue reading Stocks won’t be hit as badly by weakening corporate earnings in 2023 as many think, BlackRock strategist says

Crypto lender Amber will end its $25 million sponsorship of Chelsea soccer club, Bloomberg reported Friday. The move is part of a cost-cutting push at Amber, as FTX’s collapse sends crypto companies reeling. FTX’s bankruptcy could jeopardize its own deals with the Miami Heat and the Mercedes F1 team. Loading Something is loading. Thanks for… Continue reading Chelsea reportedly loses $25 million crypto sponsorship deal as FTX’s collapse hammers other platforms

Jennifer Sor Reuters / Brendan McDermid US stocks climbed on Thursday, with the S&P 500 snapping a five-day losing streak. Markets had been weighed earlier by fears the Fed will keep rates higher for longer amid resilient economic data. But on Thursday, the Labor Department reported that claims for unemployment benefits increased 4,000 to 230,000… Continue reading S&P 500 climbs to snap 5-day losing streak as investors assess recession risks

Activision Blizzard shares fell as the FTC announced it will sue to stop Microsoft from acquiring the video game giant. Activision agreed to be bought by Microsoft in January for $69 billion. The deal would harm competition in the gaming industry, the FTC said in a statement on Thursday. Loading Something is loading. Thanks for… Continue reading Activision Blizzard falls as FTC says it is suing to stop Microsoft’s takeover of the gaming giant

The implosion of FTX shook the crypto industry to its core in recent weeks as token prices continue to fall. Coinbase hasn’t been immune to the tumult, with the company expecting a 50% revenue decline in 2022. CEO Brian Armstrong gave an interview to the Stratechery newsletter, and these are the best quotes. Loading Something… Continue reading ‘It appears massive fraud was committed’: Here are the 7 best quotes from Coinbase CEO Brian Armstrong’s interview on crypto, FTX, and the future of digital assets.

Russia’s oil exports have plunged amid the latest round of western sanctions. According to data from Kpler, Russian seaborne oil shipments fell 16% on Tuesday. Russia’s central bank has called the sanctions “new economic shocks” that could derail the economy.  Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized… Continue reading Russia’s oil exports plunge on EU price cap and latest round of sanctions