The period between now and year-end marks a historically bullish final stretch of the year for US stocks, particularly just before and after Christmas. The question for investors is whether favorable seasonal factors will be outweighed by economic fundamentals. The momentum toward a year-end rush to stocks seems to only be getting stronger now that … Read more
This has been quite a year for Berkshire Hathaway and CEO Warren Buffett. The conglomerate just disclosed its investments in other companies as of the end of the third quarter, and one name — and one industry — stands out. In its 13F filing with the the Securities and Exchange Commission on Nov. 14, Berkshire … Read more
Markets probably didn’t need another more brick on the 2022 wall of worries, but got one anyway as FTX, the world’s third largest crypto exchange, is teetering on a collapse that could upend already shaky broader risk appetite. Read: Sequoia on its FTX investment: Some surprise to the upside, and some surprise to the downside … Read more
The clouds have gathered over Tesla (TSLA) . The manufacturer of premium electric vehicles seems to be going through the experience of the abandoned child or that of the darling who has fallen out of grace. The firm seems to have lost the attention of its charismatic and visionary co-founder and CEO Elon Musk. Blame … Read more
(Kitco News) The gold market’s price action is taking a breather following hawkish commentary from the Federal Reserve speakers, with prices pulling further away from the $1,800 an ounce target. The gold price jumped to a daily high of $1,805 an ounce Tuesday morning, led by increased geopolitical tensions as House … Read more
It’s an island off the coast of China, with a land area comparable to Maryland and Delaware combined. Its population is about 1 million higher than that of Florida. Often overlooked in world headlines, Taiwan is grabbing the financial market’s attention as the biggest macro risk of the day, prompting many traders and investors to … Read more
Hopes that the Federal Reserve may be less aggressive in hiking borrowing costs than previously feared have rippled swiftly across markets in the past week. Stocks have rallied as bond yields have dropped. And it has brought the dollar’s rampage to a juddering halt. The dollar index DXY, which hit a 20-year high above 108.5 … Read more
“‘Ultimately, this will be a trap.’” — Mike Wilson, chief US equity strategist and CIO, Morgan Stanley Morgan Stanley’s Mike Wilson, who correctly called the stock market’s 2022 swoon, isn’t convinced the lows are in after major US indexes scored a big gain following Wednesday’s Federal Reserve decision to raise rates by another 75 basis … Read more
Updated at 10:00 am EST Pfizer Inc. (EFP) – Get Pfizer Inc. Report posted stronger-than-expected second quarter earnings Tuesday, as well as record revenues, while nudging its full-year profit forecast higher amid improving sales of its Covid treatments. Pfizer said adjusted earnings for the three months ending in June were pegged at $2.04 per share, … Read more
JetBlue had been pursuing a hostile bid for Spirit even while Spirit sought shareholder approval for a lower-priced deal with Frontier. Spirit had continually expressed concern whether regulators would approve a deal with JetBlue. But shareholders had balked at accepting Frontier’s less-valuable cash-and-stock offer when they had JetBlue’s all-cash offer on the table. JetBlue CEO … Read more