Markets

Russia is using a “dark fleet” of ships to transport its oil, but that’s raising the risk of ship collisions, insurance firms say. Russia began assembling the tankers last year to skirt Western sanctions on its oil exports. But other tankers could easily collide with shadow ships. Loading Something is loading. Thanks for signing up!… Continue reading Russia is using its ‘dark fleet’ of ships to skirt oil sanctions, raising the risk of tanker collisions, insurance firms say

Meta is now a “top pick” among internet stocks as the company leans into the AI hype, analysts say. Shares of Meta jumped 14% on Thursday, with the stock now up 92% from the beginning of the year.  The company reported better-than-expected quarterly earnings, reversing the past three quarters of revenue decline. Loading Something is… Continue reading Meta stock is a ‘top pick’ and could soar 20% as the social media giant leans into the AI hype, analysts say

Matthew Fox Traders look on after trading was halted on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 18, 2020 Lucas Jackson/Reuters US stocks were mixed on Wednesday after strong earnings from Microsoft boosted tech shares.Microsoft surged 7% after it reported solid growth in its cloud division and talked… Continue reading US stocks trade mixed as investors weigh solid earnings against continued bank stress

First Republic shares extended this week’s losses, driving the stock down 95% so far in 2023.  The bank centered on wealthy clients was set to ask its larger rivals for more financial aid.  First Republic’s market cap fell below $1 billion for the first time during the session.  Loading Something is loading. Thanks for signing… Continue reading First Republic Bank turmoil pushes stock to plunge 95% this year as the lender seeks another lifeline from big US banks

Bitcoin surged as much as 9% on Wednesday, nearing the important $30,000 level. The rally comes as First Republic Bank stokes fresh fears over weakness in the banking sector. Investors are also adding risk as they anticipate a Fed pivot, a crypto exec told Insider. Loading Something is loading. Thanks for signing up! Access your… Continue reading Bitcoin surges 9% toward key level of $30,000 as crypto market rallies amid fresh banking sector fears

An economic downturn is necessary to bring inflation to the Fed’s 2% goal, Larry Summers said. The former US Treasury Secretary said the Fed was “behind the curve” on fighting inflation.  Summers remains hopeful about the US economy relative to others despite murky macro conditions.  Loading Something is loading. Thanks for signing up! Access your… Continue reading Inflation isn’t coming down much further without a substantial economic downturn, former Treasury Secretary Larry Summers says

Wall Street is all bulled up on Microsoft after the company mentioned “artificial intelligence” 50 times on its earnings call.Shares of Microsoft soared 9% on Wednesday after the company beat earnings estimates.A slew of banks boosted their price target for Microsoft, including JPMorgan, Wedbush, and Bank of America. Loading Something is loading. Thanks for signing… Continue reading Microsoft mentioned artificial intelligence 50 times on its earnings call and Wall Street is thrilled

Morgan Chittum First Republic plunged 44% intraday, bring its stock price to all-time low. Xinhua News Agency/Getty Images US stocks declined the most in a month on Tuesday. Traders digested banking sector woes and braced for big tech earnings. First Republic stock fell to a record low after reports of a rescue plan that involves… Continue reading US stocks drop as First Republic revives bank worries and investors await big tech earnings