Markets

Jennifer Sor Brendan McDermid/Reuters US stocks slid on Friday as traders assessed the outlook on the debt ceiling crisis and recession odds.  All three indexes ended lower, with the S&P 500 notching its second straight losing week. Meanwhile, Fed Governor Michelle Bowman floated another possible rate hike as inflation is still high.  Loading Something is… Continue reading US stocks fall to end the week with a loss as traders assess debt ceiling outlook

Hindenburg Research has stepped up its market offensive against Carl Icahn’s firm, days after it accused the billionaire of running “Ponzi-like” structures.  The short seller disclosed on Thursday that it has opened a short position in Icahn Enterprises bonds.  The move comes as Icahn’s firm posted a surprise first-quarter loss, and disclosed that it had… Continue reading Hindenburg Research steps up its offensive against billionaire Carl Icahn’s investment firm by shorting its bonds

FTX’s former compliance chief is cooperating with a lawsuit against celebrities who promoted the exchange. Dan Friedberg provided evidence showing that important FTX promotional activity happened in Florida, according to an amended complaint filed late Thursday. Steph Curry, Larry David, and three other defendants claim the lawsuit shouldn’t apply to them because they don’t live… Continue reading Crypto lawsuit against Tom Brady, Shaquille O’Neal, and the Golden State Warriors gets the cooperation of a former FTX exec

Increased wait times for Tesla’s Model Y SUV may be good news for bulls, Piper Sandler says. The delays may reflect robust demand for the electric vehicle, made by Elon Musk’s automaker. The US investment bank gave Tesla a price target of $280, suggesting its shares could soar 62%. Loading Something is loading. Thanks for… Continue reading Tesla’s long wait times are a bullish sign – and Elon Musk’s carmaker could see its stock jump 62%, Piper Sandler says

Elon Musk’s departure as Twitter CEO will boost Tesla’s share price, according to Wedbush. Musk said Thursday that he’d found a new boss for the social-media giant and that she’ll start in around six weeks. That announcement removes a “lingering albatross” for Tesla’s stock, Wedbush’s Dan Ives wrote. Loading Something is loading. Thanks for signing… Continue reading Snap up Tesla stock because a new Twitter CEO will allow Elon Musk to focus on his ‘golden child’, Wedbush says

Tesla stock climbed 2% Thursday, jumping late in the day after Elon Musk said he’d step down as Twitter CEO.  Musk tweeted that he found a new CEO for Twitter who would start in around six weeks.  “My role will transition to being exec chair & CTO, overseeing product, software & sysops.” Loading Something is… Continue reading Tesla stock jumps after Elon Musk says he’s stepping down as CEO of Twitter

US egg prices have plunged 32% from their January peak, suggesting the Fed is winning its inflation battle. The average cost of a dozen eggs is $3.27, down from $4.82 at the start of 2023.  “These retail price declines should continue with wholesale egg prices crashing, now down over 80% from their January high,” Charlie… Continue reading Crashing egg prices signal the Fed is winning its war against inflation

Charlie Munger receives $70,000 a year from a $1,000 purchase he made over 60 years ago. Warren Buffett’s right-hand man has likely made over $1 million from oil royalties bought in 1962. Buffett’s father also bought oil royalties, and the investor’s sister still receives monthly checks. Loading Something is loading. Thanks for signing up! Access… Continue reading Charlie Munger pockets $70,000 a year from a $1,000 investment he made in 1962 – and has likely raked in over $1 million in total