Monthly Archives: June 2022
Bitcoin briefly dropped below $17,800 as sell-off accelerates — here’s what happened
(CNBC) Bitcoin plunged to about $17,749 and ether fell to about $897 at around 4:15 E.T. on Saturday afternoon, as the sell-off in the crypto market accelerates. The world’s two most popular cryptocurrencies are down more than 35% in the […]
Here are the three things the Fed has done wrong, and what it still isn’t getting right
(CNBC) After years of being a beacon for financial markets, the Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy through a wicked bout of inflation and away from ever-darkening recession clouds. Complaints around the Fed […]
Brokerage firm Allegedly sold $13.3 million worth of high-risk bonds to retirees
(HedgeCo.Net) The Securities and Exchange Commission has charged registered broker-dealer Western International Securities, Inc. and five of its registered representatives, or brokers – Nancy Cole, Patrick Egan, Andy Gitipityapon, Steven Graham, and Thomas Swan – with violating Best Interest Obligation […]
Stock futures rise slightly as S&P 500 is poised for worst week since March 2020
(CNBC) Stock futures rose modestly on Thursday evening as Wall Street tries to find its footing after a brutal week of selling. Futures tied to the Dow Jones Industrial Average gained 65 points, or 0.2%. Those for the S&P 500 […]
Airline stocks tumble as economic concerns overshadow travel surge
(CNBC) Packed planes. Sky-high airfare. An end to Covid testing for international arrivals. So much is going in airlines’ favor these days — except their share prices. The sector’s latest drop is surpassing a broad market swoon as investors weigh […]
A day after Powell’s assurances about the economy, markets are worried that ‘the Fed breaks something’
(CNBC) Federal Reserve Chairman Jerome Powell’s insistence that the central bank is not deliberately trying to cause a recession and that the economy is on solid footing is exactly what someone in his position would be expected to say. The […]
Hedge funds fell for a second consecutive month in May
(Opalesque) Hedge funds fell for a second consecutive month in May with a return of -0.4%, dragging year-to-date returns further into the red at -1.4%. A steeper than expected rise in US consumer prices in May raised concerns about aggressive […]
Adobe shares move lower after full-year projections fall short
(CNBC) Adobe shares fell as much as 5% in extended trading on Thursday after the design software maker gave full-year guidance that fell short of analysts’ expectations. Earnings: $3.35 per share, adjusted, vs. $3.31 per share as expected by analysts, […]
Tiger Legatus closes doors after 13 years
(CNBC) Tiger Legatus, a hedge fund backed by Tiger Fund Management legend Julian Robertson, has brought the curtain down on 13 years of trading following the worst ever start to a calendar year for equity funds, according to a report […]
Fed hikes its benchmark interest rate by 0.75 percentage point, the biggest increase since 1994
(CNBC) The Federal Reserve on Wednesday launched its biggest broadside yet against inflation, raising benchmark interest rates three-quarters of a percentage point in a move that equates to the most aggressive hike since 1994. Ending weeks of speculation, the rate-setting […]
Sen. Warren asks bank regulator to reject TD’s $13.4 billion acquisition after customer-abuse report
(CNBC) Lawmakers led by Sen. Elizabeth Warren asked a key regulator to block Toronto-Dominion Bank’s $13.4 billion acquisition of a regional U.S. bank because of allegations of customer abuse. In a letter sent Tuesday to the Office of the Comptroller […]
GM investing $81 million to hand build ultra-exclusive Cadillac Celestiq electric cars
(CNBC) General Motors on Wednesday said it is investing $81 million at its global design and technology campus in suburban Detroit to hand build the upcoming Cadillac Celestiq – a new electric flagship car for the brand that will be […]
