Markets

Jeremy Grantham told Bloomberg he still sees a US recession on the way. High interest rates will keep dragging on financial markets and a downturn could last into 2024. “I suspect inflation will never be as low as its average for the last 10 years.” Loading Something is loading. Thanks for signing up! Access your… Continue reading Jeremy Grantham warns a recession is still coming and the Fed is ‘almost guaranteed to be wrong’

Phil Rosen An American flag hangs behind traders working on the floor of the New York Stock Exchange (NYSE) on October 11, 2019 in New York City. Drew Angerer/Getty Images US stocks tumbled Friday, with the Dow on track for its worst week since March.  The S&P 500 and Nasdaq Composite are each headed for… Continue reading US stocks fall as Dow heads for worst week since March amid China fears, rising bond yields

Michael Burry placed bets worth a notional $1.6 billion against the S&P and Nasdaq last quarter. The “Big Short” investor is a “one-trick pony” and his wager is a loser, analyst Marc Chaikin said. Chaikin argued past bears were shrewder, more influential, and had better track records than Burry. Loading Something is loading. Thanks for… Continue reading Michael Burry is a ‘one-trick pony’ – and the ‘Big Short’ investor’s massive bet against the stock market is a sure loser, says veteran analyst

Bitcoin plunged about 10% after it was revealed that SpaceX sold the cryptocurrency.The Wall Street Journal reported that SpaceX wrote down the value of bitcoin it owns by $373 million.The recent jump in bond yields to 16-year highs has weighed on risk assets overall, including crypto. Loading Something is loading. Thanks for signing up! Access… Continue reading Bitcoin plunges more than 10% after Elon Musk’s SpaceX reportedly sold the cryptocurrency

Texas electricity prices soared 6,000% as a fresh heat wave is expected to shatter records. Spot prices jumped to $4,750 per megawatt-hour on Thursday afternoon from the average of $75 on Wednesday. An excessive heat warning has been issued for north Texas, where temperatures could top 110 degrees. Loading Something is loading. Thanks for signing… Continue reading Texas electricity prices soar 6,000% as a fresh heat wave is expected to shatter records

There’s around $1 trillion of private debt that’s headed for potential trouble, Bank of America warned. Most of that debt has been created by below-investment grade companies through high yield loans or bonds. Around $400 billion assets are considered to be in “pre-distress,” while $150 billion assets are “deeply distressed.” Loading Something is loading. Thanks… Continue reading The $1 trillion of high yield debt that’s piled up in the last 5 years is about to have a ‘day of reckoning,’ Bank of America says

The August sell-off in stocks is the perfect buy-the-dip opportunity, Fundstrat said.  Markets will remained jittery over rising interest rates through the end of the month. The Fed’s Jackson Hole Symposium could jolt stocks back on their bullish path. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed… Continue reading Stocks are approaching a perfect buy-the-dip opportunity as the S&P 500 faces August rout, Fundstrat says

The stunning success of Ozempic and Wegovy is having a big impact on Denmark’s economy.Huge US sales have strengthened Denmark’s currency while also lowering its interest rates.Denmark-based Novo Nordisk has seen its market value soar in the past year to the second largest European company. Loading Something is loading. Thanks for signing up! Access your… Continue reading America’s favorite weight loss drugs are impacting Denmark’s currency and interest rates