Monthly Archives: May 2023
Stock futures fall slightly as investors look ahead to Fed rate decision: Live updates
(CNBC) U.S. stock futures fell slightly on Tuesday night as investors looked ahead to the Federal Reserve’s latest policy decision. Dow Jones Industrial Average futures fell by 11 points, or 0.03%. S&P 500 and Nasdaq 100 futures dipped 0.08% and […]
Odey and Brook among short sellers hit by $18bn losses on tech stock rally
(Hedgeweek) Several big-name hedge fund hedge fund firms, including Crispin Odey’s Odey Asset Management and James Hanbury’s Brook Asset Management have racked up big losses on the back of a 16% rally in the Nasdaq Composite so far this year, […]
Wall Street is cutting more jobs as Morgan Stanley plans 3,000 layoffs
(CNBC) As Wall Street’s slump in IPOs and mergers deepens this year, top advisory firms including Morgan Stanley, Bank of America and Citigroup have turned to job cuts in recent weeks. Morgan Stanley plans to eliminate roughly 3,000 positions by […]
Chegg shares drop more than 40% after company says ChatGPT is killing its business
(CNBC) Chegg shares tumbled after the online education company said ChatGPT is hurting its growth. “In the first part of the year, we saw no noticeable impact from ChatGPT on our new account growth and we were meeting expectations on […]
SEC Charges Florida Trader with Microcap Stock Manipulation Scheme and Obtains Final Judgment
(HedgeCo.Net) The U.S. District Court for the Southern District of New York has entered a final consent judgment against Carlos Eduardo Reyes Alvarez of Port Saint Lucie, Florida, permanently enjoining him from violating the antifraud and anti-manipulation provisions of the […]
Jamie Dimon says ‘this part of the crisis is over’ after JPMorgan Chase buys First Republic
(CNBC) The crisis that led to the downfall of three regional U.S. banks in recent weeks is largely over after the resolution of First Republic, according to JPMorgan Chase CEO Jamie Dimon. JPMorgan emerged as the winner of a weekend […]
Stock futures are down slightly as investors prepare for Fed meeting: Live updates
(CNBC) Stock futures are modestly lower Monday night as investors prepared for the Federal Reserve’s May policy meeting to kick off. Futures tied to the Dow Jones Industrial Average slipped 44 points, or 0.1%. S&P 500 futures and Nasdaq-100 futures […]
The U.S. could hit the debt ceiling by June 1, much sooner than expected, Yellen warns
(CNBC) Treasury Secretary Janet Yellen on Monday warned that the United States may run out of measures to pay its debt obligations by June 1, earlier than the government and Wall Street had been expecting. In a letter to House Speaker Kevin McCarthy, […]
Facebook was the main donor to a group that fought antitrust reforms in 2020 and 2021
(CNBC) An advocacy group backed by Facebook received a $34 million donation from an anonymous donor as it waged a battle against antitrust legislation that would have more tightly regulated the tech industry. A person who works with the group, […]
More trouble ahead for emerging markets, says Man Group
(Hedgeweek) Having correctly predicted in February that the rally in emerging markets between October and February would soon reverse, Man Group, the world’s largest listed hedge fund, says risky assets will see even bigger losses later this year, according to […]
Court Orders Former Head of International Binary Options Scheme to Pay More than $561,000 in Restitution
(HedgeCo.Net) The Commodity Futures Trading Commission has announced the U.S. District Court for the Northern District of Ohio entered a consent order on April 27 for a permanent injunction, restitution, and equitable relief against Jared J. Davis, a former resident […]
Charlie Munger reportedly warns of trouble for the U.S. commercial property market
(CNBC) Charlie Munger believes there is trouble ahead for the U.S. commercial property market. The 99-year-old investor told the Financial Times that U.S. banks are packed with “bad loans” that will be vulnerable as “bad times come” and property prices […]