For many months now, the single most popular and, thus most concentrated, trade on Wall Street was to “buy the dip and sell the VIX.” In plain English, this means that large investment houses, which also include large insurance companies, have purchased stocks at every opportunity and during ever minor […]
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Billionaire Richard Branson reveals who will one day take over his company when he steps down
With over 69,000 employees, 53 million customers worldwide and $23 billion in annual revenue, Virgin Group is a successful company created and led by serial entrepreneur Richard Branson. In a recent interview, he reveals who will take over when the time comes and he’s ready to “move on.” On “In […]
Oil prices extend losses, falling with broader financial markets, after a comeback effort fails
Oil prices extended the previous session’s losses on Tuesday, tracking the broader market as stock futures pointed to another day of sharp declines. Crude oil futures had been climbing back toward positive territory overnight, but lost traction in early morning trade, with international benchmark Brent crude hitting a one-month low. […]
General Motors to report earnings before the bell
General Motors is expected to report quarterly earnings before the bell on Tuesday. Here’s what Wall Street expects: EPS: $1.38, according to Thomson Reuters Revenue: $36.55 billion, according to Thomson Reuters Like its U.S. rival Ford, GM is focusing more of its attention on high-margin trucks and SUVs, and is […]
‘Dr Doom’ Roubini says bitcoin ‘nuts’ will hold the cryptocurrency until it crashes to zero
Noted economist Nouriel Roubini thinks the price of bitcoin is going to zero. The chairman of Roubini Macro Associates, also known as “Dr Doom” for his pessimistic economic outlooks, called the price crash on Twitter on Tuesday. TWEET TWEET Roubini was referencing a Congressional hearing that will see Christopher Giancarlo, […]
Lawmakers to vote on a funding bill today to try to avoid another partial government shutdown
Legislation to help young “Dreamer” immigrants struggled to gain footing in the U.S. Congress on Monday, as lawmakers prepared to hold a Tuesday vote on a short-term government funding measure to avoid a rerun of January’s three-day partial shutdown. Republicans in the House of Representatives were told at a Monday […]
European stocks trim losses but still down 2% as global sell-off continues
European stocks reduced some of their earlier losses in mid-morning trade after tumbling 3 percent in the early hours of Tuesday’s session. The pan-European Stoxx 600 was 1.7 percent lower with every sector in the red. Autos, banks and insurance stocks were the most impacted by the sell-off, down by […]
Over $550 billion of value wiped off cryptocurrencies since their record high just under a month ago
Over half a trillion dollars of value has been wiped off the entire cryptocurrency market in just under a month, as the prices of popular digital coins plunge. On January 7, the market capitalization or value of the entire cryptocurrency market hit an all-time high of $835.69 billion, according to […]
Dow futures pare losses after earlier pointing to a more than 1,200-point fall at the open
Stocks looked set for another rocky opening and a volatile trading day Tuesday. Stock futures slid into negative territory in Monday evening trade: Dow futures were down 826 points, and S&P 500 futures were lower by 76.5 points as of 11:25 p.m. ET. The implied open for the Dow, based […]
Hong Kong volatility spikes as much as 50% as greater China markets tumble
Stock indexes in the greater China region fell significantly on Tuesday, tracking steep losses seen overnight on Wall Street. Hong Kong’s Hang Seng Index closed down 5.1 percent at 30,595.42. Meanwhile, the Shanghai composite closed 3.4 percent lower at 3,369.71, posting its steepest loss in two years. The blue-chip CSI300 […]