Institutional Investor Hall of Famer Richard Bernstein is finding a lot of denial about inflation risks. According to Bernstein, the evidence is baked in to how investors are positioned right now. “Think about what people love. They love long-duration equities right now,” the CEO and CIO of Richard Bernstein Advisors […]
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Tobacco stocks drop on report Biden administration is planning to cut nicotine levels in cigarettes
Marlboro cigarettes, a product of Philip Morris International Daniel Acker | Bloomberg | Getty Images Tobacco stocks tumbled Monday on a report that the Biden administration is considering whether to cap nicotine levels in cigarettes. The report, which cited people familiar with the matter, was published in the Wall Street […]
Stock futures are flat ahead of major corporate earnings
U.S. stock futures were flat in overnight trading on Monday as investors prepare for the next batch of corporate earnings. Dow futures rose 35 points. S&P 500 futures gained 0.04% and Nasdaq 100 futures were flat. The major averages fell on Monday, dragged down by overall weakness in the technology […]
Elon Musk says Autopilot was not enabled in Tesla crash in Texas
A Tesla logo on a Model S is photographed inside of a Tesla dealership in New York. Lucas Jackson | Reuters On Monday, Tesla CEO Elon Musk tweeted a denial that his company’s automated driving systems were involved in a fatal crash in Spring, Texas. Two federal agencies, the NHTSA […]
United Airlines reports fifth consecutive quarterly loss while travel demand starts to recover
A United Airlines Boeing 737 Max 9 aircraft lands at San Francisco International Airport on March 13, 2019 in Burlingame, California. Justin Sullivan | Getty Images United Airlines on Monday reported its fifth consecutive quarterly loss, though travel demand has recently improved as Covid-19 vaccinations ramp up and governments loosen […]
Jury begins deliberating in Derek Chauvin murder trial
Former Minneapolis police officer Derek Chauvin and his defense attorney Eric Nelson attend closing arguments during Chauvin’s trial for second-degree murder, third-degree murder and second-degree manslaughter in the death of George Floyd with his defense attorney Eric Nelson in Minneapolis, Minnesota, U.S. April 19, 2021 in a still image from […]
IBM beats across the board, posts revenue growth after four quarters of declines
SVP and Director at IBM Research Arvind Krishna speak on stage during the 2016 Wired Business Conference on June 16, 2016 in New York City. Brian Ach | Getty Images IBM shares rose 4% in extended trading on Monday after the enterprise technology and services maker reported first-quarter earnings that […]
Dow slips more than 100 points from a record, Nasdaq closes 1% lower
U.S. stocks slipped from record levels to start the week on Monday as weakness in the technology sector weighed on the broader market. The Dow Jones Industrial Average fell 123.04 points, or 0.4%, 34,077.63, sliding from a record high in the previous session. The S&P 500 fell 0.5% to 4,163.26 […]
After a wild weekend, bitcoin could take a breather before the next move higher
Yuriko Nakao | Getty Images Bitcoin’s big swing in prices over the weekend likely set the stage for a period of consolidation before the cryptocurrency can make another move higher. The digital currency lost as much as 15% over the weekend, and rival coins like ethereum also fell. Bitcoin traded […]
Bitcoin’s sell-off by the numbers: Oppenheimer puts the latest drop into perspective
It’s been a wild few days for bitcoin. The cryptocurrency fell close to $52,000 on Sunday, sharply off its record high set last week above $64,800. The sell-off was tied to rumors of a regulatory crackdown in the U.S., a common fear for bitcoin investors. But, taking a step back, […]