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
Inflation isn’t coming down much further without a substantial economic downturn, former Treasury Secretary Larry Summers says
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
Microsoft mentioned artificial intelligence 50 times on its earnings call and Wall Street is thrilled
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
Wall Street is getting a new fear gauge: meet the one-day VIX
Most-watched gauge of market volatility hasn’t done much lately Author of the article: Bloomberg News Lu Wang and Sam Potter Published Apr 24, 2023 • Last updated 1 day ago • 3 minute read The Chicago Board Options Exchange announced a new one-day version of its flagship volatility index — the VIX. Photo by Jim Young/Bloomberg… Continue reading Wall Street is getting a new fear gauge: meet the one-day VIX
Stock Market Today: UPS, First Republic Earnings Drag on Stocks
Stocks opened in negative territory Tuesday, with losses accelerating as the session wore on. In focus today were corporate earnings; specifically, results from logistics giant United Parcel Service (UPS (opens in new tab), -10.0%) and embattled regional bank First Republic (FRC (opens in new tab), -49.4%). Investors also took in the latest economic reports, including… Continue reading Stock Market Today: UPS, First Republic Earnings Drag on Stocks
US stocks drop as First Republic revives bank worries and investors await big tech earnings
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
Billionaire investor Stanley Druckenmiller shorts the dollar after ‘biggest miss of my career’ on Fed rate view and weaponized currency fears
Stanley Druckenmiller is shorting the US dollar after missing last year’s rally. He said it will keep falling due to interest rate cuts and a rise in non-dollar trade agreements. “And you have Lula running around asking why we have to do trade in the US dollar, and he’s right to.” Loading Something is loading.… Continue reading Billionaire investor Stanley Druckenmiller shorts the dollar after ‘biggest miss of my career’ on Fed rate view and weaponized currency fears
The GameStop saga is getting a movie. Seth Rogen is cast as Wall Street Bets’ most reviled hedge funder, and Paul Dano will play meme-stock hero Roaring Kitty.
Hollywood’s upcoming film “Dumb Money” depicts the 2021 events surrounding the mania behind the GameStop stock.Seth Rogen will star as hedge fund manager Gabe Plotkin who lost billions of dollars on his GameStop short. Nick Offerman will portray Citadel founder Ken Griffin, while Paul Dano will star as Keith Gill, aka Roaring Kitty. Loading Something is… Continue reading The GameStop saga is getting a movie. Seth Rogen is cast as Wall Street Bets’ most reviled hedge funder, and Paul Dano will play meme-stock hero Roaring Kitty.
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