Head coaches have set aside rivalries and one city offered to change its name. Others are taking the more traditional approaches of promising huge tax windfalls and new state-of-the-art transit systems. But history shows luring Amazon‘s second headquarters may not be a slam dunk for the victorious city. The deadline […]
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US clout in world oil market grows as industry exports increase
For two separate weeks recently, the U.S. exported as much oil onto the world market each day as was being pumped in either Nigeria or Venezuela and by several other OPEC countries together. Those roughly 1.9 million barrels a day are not a minor splash for the global oil market, […]
Three decades later, watching for signs of another ’87-style market cataclysm
The 30th anniversary of the 1987 crash is a perfect occasion to take in the vivid accounts of a headlong bull market skidding violently off course. “The bull is dead,” a senior trader at the old Shearson Lehman told a reporter. “I’ve been in the business 33 years and it’s […]
Chipotle is at a ‘key juncture’ that shows the worst could be over soon: Strategist
Chipotle fell more than 2 percent on Wednesday following a downgrade from Bank of America, but the charts are suggesting that there might actually be a reprieve for the beaten-down stock. “[Chipotle stock] is starting to form a base down at the $300 level,” Matt Maley, equity strategist at Miller […]
Wall Street veterans are trickling into digital asset management
The author of an investment newsletter said Wednesday he will help a major digital assets fund open its New York office at the beginning of November. The announcement follows news in September that former Fortress hedge fund manager Michael Novogratz plans to launch a similar $500 million fund. Paul Brodsky […]
The 2017 chart of the stock market looks ‘eerily similar’ to the one that crashed 30 years ago
The S&P 500’s daily price chart this year looks “eerily” like that of 1987, but that’s about the only similarity between the market then and now, one of Wall Street’s longtime market strategists pointed out. “Indeed, when comparing the daily index levels for the S&P 500 in 1987 with the […]
Boardroom pay has risen nearly 20%, twice the gain of the average American worker
Directors sitting in corporate boardrooms got a pay raise twice that of the average American worker, and it’s not even a full-time job. From fiscal 2012 to 2016, the median annual compensation for board members rose 19.5 percent, to $245,000, corporate board data company Equilar said Wednesday. The study analyzed […]
Trader makes $4 million bet on major pullback for financials
The financials have been on fire, but one trader is making a more than $4 million bet that the run is done. The financials ETF, XLF, has rallied 13 percent this year with 5 percent of those gains in the past month alone. According to Dan Nathan of RiskReversal.com, sentiment […]
Bond market flashing warning sign even as stocks rally to new highs
The bond market is warning that trouble could be on the horizon, either from an economic slowdown or an eventual recession. The yield curve, a set of interest rates watched closely by bond market pros, has gotten to its flattest level since before the financial crisis. The spread between 2-year […]
Bitcoin plunges nearly 9% on fears of greater oversight from US regulators
Bitcoin tanked Wednesday after indications of greater scrutiny from U.S. regulators. The digital currency fell nearly $500 at one point, or about 8.7 percent to a low of $5,109.70, before regaining some of the lost ground, according to CoinDesk. The day’s low marked the digital currency’s lowest level since Thursday, […]