Carla Mozée (Photo by ANGELA WEISS/AFP via Getty Images) US stocks jumped on Friday as tech behemoth Apple and regional bank stocks climbed. The S&P 500 was able to close higher after four days of declines. Treasury yields soared after the US economy added 253,000 jobs in April, much more than anticipated. Loading Something is… Continue reading Dow leaps 546 points as US stocks surge after Apple earnings and hot April jobs report
Stock Market Today: Stocks Slide as Regional Bank Rout Worsens
Panic selling in regional bank stocks resulted in losses for the major indexes Thursday. PacWest Bancorp (PACW (opens in new tab)) suffered the most devastating decline, shedding half its value after the California-based lender said in a statement (opens in new tab) it is considering “strategic asset sales,” and “will evaluate all options to maximize… Continue reading Stock Market Today: Stocks Slide as Regional Bank Rout Worsens
Lawmakers Call for Stock Trading Ban for Members of Congress
A group of U.S. lawmakers — including the unlikely pairing of GOP Rep. Matt Gaetz (R-Fla.) and Democrat Rep. Alexandria Ocasio-Cortez, (D-NY), normally at opposite ends of the political spectrum — is pushing for a stock trading ban to be passed in a bill dubbed the Bipartisan Restoring Faith in Government Act (opens in new… Continue reading Lawmakers Call for Stock Trading Ban for Members of Congress
Johnson & Johnson Spins Off Kenvue in Biggest IPO Haul Since 2021
Johnson & Johnson (JNJ (opens in new tab)) spun off its Kenvue (KVUE (opens in new tab)) consumer brands division on Thursday, raising the most cash from an initial public offering (IPO) in more than a year. Johnson & Johnson said it sold 172.8 million shares (opens in new tab) at $22 a pop in… Continue reading Johnson & Johnson Spins Off Kenvue in Biggest IPO Haul Since 2021
The Richest Person in the World Revealed
Billionaires, like Elon Musk, Bill Gates and Jeff Bezos, spring to mind when talking about the rich and wealthy but surprisingly, although these famous A-listers have personal fortunes worth billions and are the faces behind big names such as Microsoft (MSFT (opens in new tab)), Tesla (TSLA (opens in new tab)) and Twitter, none of… Continue reading The Richest Person in the World Revealed
Short sellers pocketed nearly $400 million in a single day from the regional bank stock selloff, report says
Short sellers made $378.9 million in just one day betting against embattled regional banks, data show. The bearish bets against PacWest, First Horizon, and Western Alliance paid off as the shares collapsed this week. Such traders have been selling borrowed bank stocks before buying them back at lower levels once their price falls. Loading Something… Continue reading Short sellers pocketed nearly $400 million in a single day from the regional bank stock selloff, report says
The Fed just brought in its final interest-rate hike, billionaire bond investor Jeff Gundlach says
The Federal Reserve has likely tightened policy for the final time in this cycle, according to Jeff Gundlach. “The Fed will not raise rates again,” the DoubleLine Capital CEO said late Thursday. Chair Jerome Powell signaled after the central bank’s meeting this week that it could have delivered its final rate hike. Loading Something is… Continue reading The Fed just brought in its final interest-rate hike, billionaire bond investor Jeff Gundlach says
The cost of insuring against a US default hits an all-time high as debt ceiling deadline looms
The insurance cost against a US default hit a fresh high Thursday as lawmakers wrangle over raising the debt ceiling. One-year US government credit default swaps traded at 152 basis points. President Joe Biden has called leaders in the Republican and Democratic parties to a May 9 meeting. Loading Something is loading. Thanks for signing… Continue reading The cost of insuring against a US default hits an all-time high as debt ceiling deadline looms
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