Most of the things you buy these days were transported on a truck at some point. There are around 3.5 million truck drivers in the United States. Their average salary is close to $60,000 per year. In 2021, however, there may actually be a shortage of drivers willing to move […]
CNBC
Cathie Wood’s funds take big hits as Tesla and the tech trade show signs of unwinding
Cathy Wood Crystal Mercedes | CNBC Some called it the “Cathie Wood sell-off.” At the open Tuesday, the top names owned by Ark Investment Management were the biggest decliners in the market. Shares of Palantir, Tesla, Roku, Square, Paypal, Teladoc, Baidu, Zillow, Shopify and Spotify were all down big, in […]
High profile SPAC craters after announcing plan to merge with electric car company Lucid
A record reverse merger deal between Lucid Motors and Churchill Capital Corp IV sent shares of the SPAC run by well-known investor Michael Klein tumbling in early trading Tuesday. Shares of the special purpose acquisition company, or SPAC, were down by as much as 46% to less than $31 a […]
Nasdaq falls 2% as tech sell-off continues, Dow trades off low on Powell
Tech shares dropped for a second day on Tuesday in the face of higher interest rates and a rotation into stocks more linked to the economic recovery. The Nasdaq Composite slipped 2.1%, falling below its 50-day moving average, a key technical indicator, for the first time since Nov. 3. The […]
Powell says inflation is still ‘soft’ and the Fed is committed to current policy
Inflation and employment remain well below the Federal Reserve’s goals, meaning easy monetary policy is likely to stay in place, central bank Chairman Jerome Powell said Tuesday. Despite a sharp rise this year in bond yields that has accompanied heightened concern over inflation, Powell said price pressures remain mostly muted […]
MicroStrategy CEO says bitcoin will one day have $100 trillion market value even as price dives
MicroStrategy CEO Michael Saylor told CNBC on Tuesday he believes bitcoin will continue appreciating in value to the point where the cryptocurrency becomes a “stabilizing influence” for the entire global financial system. He predicted, in a bold call, that bitcoin’s market value would be worth $100 trillion one day. Saylor’s […]
Tesla drops as much as 13%, turns negative for the year
Tesla CEO Elon Musk speaks during the unveiling of the new Tesla Model Y in Hawthorne, California on March 14, 2019. Frederic J. Brown | AFP | Getty Images Tesla’s recent slide accelerated on Tuesday, as investors rotated out of high-flying tech names. Shares of the electric vehicle maker dipped […]
Powell says inflation is still ‘soft’ and the Fed is committed to current policy stance
US Federal Reserve Bank Chairman Jerome Powell speaks at a press conference in Washington, DC, on December 11, 2019. Eric Baradat | AFP | Getty Images Inflation and employment remain well below the Federal Reserve’s goals, meaning easy monetary policy is likely to stay in place, central bank Chairman Jerome […]
BlackRock bond expert explains where not to put your money right now
A sign for BlackRock Inc hangs above their building in New York. Lucas Jackson | Reuters In light of the pace of Covid-19 vaccine rollouts and potentially hefty fiscal stimulus in the U.S., the BlackRock Investment Institute is opting for a more risk-on approach in 2021. The U.S. investment house […]
Lucid Motors deal sends shares of Michael Klein’s SPAC tumbling 46%
The Lucid Air sedan, which is expected to go into production next year at a plant being constructed in Arizona. Lucid A record reverse merger deal between Lucid Motors and Churchill Capital Corp IV sent shares of the SPAC run by well-known investor Michael Klein tumbling in early trading Tuesday. […]