An economic recession would send the S&P 500 another 25% lower to 3,000, according to DataTrek Research. DataTrek believes the Fed is trying to drive a slowdown in job growth to contain rising inflation.Slowing job growth could cascade into a recession, but for now the S&P 500 is proving resilient. Loading Something is loading. The stock… Continue reading The stock market will fall another 25% if job growth slows and an economic recession materializes, DataTrek says
The EU’s energy plan that cuts reliance on Russian gas will cost it an extra $200 billion by 2030 unless it shifts to cleaner sources of power, a think tank says
The EU’s current energy plans will cost it $200 billion more than it expects by 2030, a think tank said on Wednesday. The plans, which include cutting the bloc’s reliance on Russian gas, will add hugely to its energy bill as prices rise. “Decades of over-reliance on fossil gas has made Europe incredibly vulnerable to… Continue reading The EU’s energy plan that cuts reliance on Russian gas will cost it an extra $200 billion by 2030 unless it shifts to cleaner sources of power, a think tank says
SEC chief Gary Gensler says crypto exchanges are ‘market making against their customers’
SEC Chairman Gary Gensler worries that cryptocurrency exchanges don’t act in clients’ best interests. “In fact, they’re trading against their customers often because they’re market-marking against their customers,” he told Bloomberg. The SEC chief has previously warned that crypto exchanges are front-running clients’ trades. Loading Something is loading. Securities and Exchange Commission Chariman Gary Gensler… Continue reading SEC chief Gary Gensler says crypto exchanges are ‘market making against their customers’
Russia has skirted a debt default thanks to a US payment exemption. Now the Treasury is weighing whether to let it expire, says Janet Yellen
Russia has been able to avoid a default on foreign debt thanks to a US Treasury payment exemption. The carve-out has allowed Moscow keep up with roughly $2.9 billion in foreign debt payments so far. Treasury Secretary Janet Yellen said the US is weighing whether to let it expire on May 25. Loading Something is… Continue reading Russia has skirted a debt default thanks to a US payment exemption. Now the Treasury is weighing whether to let it expire, says Janet Yellen
US stocks trade mixed after April inflation cools by less than anticipated
Stocks dropped Wednesday following the April inflation report. Headline inflation of 8.3% was above a Bloomberg consensus estimate of 8.1%. Core consumer prices rose 0.6%, more than the 0.4% estimate. Loading Something is loading. Stocks dropped Wednesday after the US government said headline inflation eased in April but was still hotter than expectations. Stock futures… Continue reading US stocks trade mixed after April inflation cools by less than anticipated
Hedge fund Tiger Global has plunged to a $17 billion loss this year as its huge tech bets go sour
Tiger Global has lost $17 billion in 2022 in one of the worst runs for a hedge fund in history, LCH Investments said. The fund has now wiped out around two-thirds of the cumulative gains it had made for investments since it was founded in 2001. Tiger has been hit by a major stock-market sell-off… Continue reading Hedge fund Tiger Global has plunged to a $17 billion loss this year as its huge tech bets go sour
Stocks now look ‘attractive’ as the market has absorbed investor concerns following massive rout, Goldman Sachs’ global stock chief says
Goldman Sachs’ Peter Oppenheimer said now is a buying opportunity for investors with six- to 12-month time horizons. “Equities are starting to look attractive for medium- to long-term buyers,” he told Bloomberg TV. Oppenheimer added that value is emerging across a range of stock sectors, including in technology and industrials. Loading Something is loading. Now is… Continue reading Stocks now look ‘attractive’ as the market has absorbed investor concerns following massive rout, Goldman Sachs’ global stock chief says
Upstart plummets 52% as the consumer lending platform points to recession risks and cuts its full-year outlook
Upstart Holdings shares cratered over 50% Tuesday after the fintech company cut its yearly revenue outlook. The consumer lender flagged inflation pressures and recession risk in reducing its projection. Upstart expects 2002 revenue of $1.25 billion compared with its previous view of $1.4 billion. Loading Something is loading. Shares of Upstart Holdings, a consumer lending… Continue reading Upstart plummets 52% as the consumer lending platform points to recession risks and cuts its full-year outlook
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