Markets

Lawyers for FTX said during the crypto exchange’s bankruptcy hearing that they expect “millions” of creditors. A week ago, FTX said in a filing there could be more than 1 million creditors, up from an estimate of over 100,000 a week before that.   FTX wants to keep their identities redacted, saying they represent a valuable… Continue reading FTX now expects ‘millions’ of creditors but says their identities are valuable assets that should be kept secret for now

Brian Evans China’s zero-COVID policy is weighing on the economy. Kevin Frayer/Getty Images US stocks closed lower Monday with investors weighing China’s economic outlook.  New Covid-relates deaths in China raised fears that strict lockdowns would be reimposed and curb growth.  Disney stock climbed on news of Bob Iger’s return as chief executive.  Loading Something is… Continue reading US stocks end lower to start short week as China’s Covid-19 cases weigh on growth outlook

Matthew Fox A trader works at the New York Stock Exchange NYSE in New York, the United States, on March 9, 2022. Michael Nagle/Xinhua via Getty ide The S&P 500 has three technical levels to clear before signaling to investors that a new bull market is here, according to BofA.The bank said the S&P 500… Continue reading The S&P 500 needs to clear 3 big hurdles to convince investors the bull market has returned, Bank of America says

Stocks look vulnerable to a short-term decline of up to 10%, a JPMorgan Asset Management strategist told Bloomberg.  “I’m not particularly optimistic about this current rally. I don’t really think it has legs,” said global market strategist Jack Manley.  But there’s a silver lining going into 2023 – “stocks aren’t expensive anymore,” he said.  Loading… Continue reading Stocks could fall by up to 10% in the short term and the big question facing investors in 2023 is how bad earnings will be, says JPMorgan strategist

Interest rates probably won’t stay high, top economist Paul Krugman wrote in an op-ed.  Higher rates are temporary due to lingering effects of COVID-19, and will likely be dragged down by lower investment demand. “What all this suggests to me is that the era of cheap money is not, in fact, over,” Krugman said. Loading… Continue reading Interest rates probably won’t stay high, thanks to a shrinking workforce and the tech industry’s ‘midlife crisis,’ top economist Paul Krugman says

Oil prices Monday, extending losses after a WSJ report that OPEC+ was discussing an output increase.  Delegates said an increase would be in response to expectations of higher demand in the winter months.  Saudi Arabia and Russia would be at odds over what could be a partial reversal of cuts made in October.  Loading Something… Continue reading Oil slides 6% as OPEC+ is said to be discussing partial reversal of production cuts and increasing output by up to 500,000 barrels a day

Tesla could buy back shares within the next year, according to Edward Jones analyst Jeff Windau.  The decision is up to the board, which will weigh a variety of factors, he told Insider. One of those is likely the lawsuit against CEO Elon Musk and Tesla over his pay package, which consists of stock options. … Continue reading Tesla stock buyback could come in the next year, as Elon Musk teases investor bonanza

Investors are asking if the FTX implosion could’ve been prevented with tighter regulation.  The answer isn’t clear cut but Washington holds a responsibility to protect investors, experts say.  Oversight over the crypto space has long been in a fragmented state.  Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized… Continue reading Everyone is wondering if better regulation could have prevented FTX’s collapse. The answer is both yes and no.