‘Big Short’ Investor Michael Burry Bets Heavy On Gold, Renewable Energy Stocks, Exits Amazon, Alphabet Michael Burry, the legendary investor who famously predicted the 2008 financial crisis, has once again made headlines with his latest 13F filing for his hedge fund Scion Asset Management LLC. The first quarter of 2024 reveals a strategic recalibration towards […]
Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. The only bet riskier than buying meme stocks like GameStop may be cheering for their decline. That’s the lesson Wall Street’s short-sellers are learning the hard way this week. See here: […]
(Bloomberg) — Michael Burry’s investment firm doubled down on its bets on JD.com Inc and Alibaba Group Holding Ltd. in the first quarter as Chinese equities bottomed out. Most Read from Bloomberg JD.com was Scion Asset Management’s top holding after the firm boosted its stake in the e-commerce operator by 80% during the period, according […]
By Sarupya Ganguly BENGALURU (Reuters) – Bond strategists upgraded their U.S. Treasury yield forecasts for coming months to their highest since at least November amid sticky inflation and greater conviction in financial markets of fewer Federal Reserve rate cuts this year, a Reuters poll found. After hitting a cycle peak of 5.02% in October 2023, […]
(Bloomberg) — Wall Street got another signal the labor market is slowing, which could pave the way for the Federal Reserve to cut rates this year. Most Read from Bloomberg Equities edged up as data showed a jump in jobless claims to the highest level since August, beating estimated. Fed traders slightly amped up their […]
Shares of Tesla (TSLA) are under pressure as the Justice Department investigates whether Tesla committed wire and securities fraud by misleading investors and consumers about its electric vehicles’ self-driving capabilities, Reuters reports. Barclays Senior Autos Analyst Dan Levy joins Catalysts to give insight into Tesla and the pressure the company is under as uncertainty grows […]
(Reuters) – U.S. stock index futures edged higher on Monday, pointing to more gains on Wall Street, as traders priced in a higher chance of the Federal Reserve cutting interest rates this year. The benchmark S&P 500 and the blue-chip Dow closed at three-week highs on Friday after data showed U.S. job growth slowed more […]
US stocks surged on Friday, as upbeat earnings from Apple (AAPL) lifted spirits and a weaker-than-expected jobs report revived bets that the Federal Reserve could cut interest rates sooner than thought. The Dow Jones Industrial Average (^DJI) jumped 1.2%, or about 450 points, while the S&P 500 (^GSPC) rose 1.3%. The tech-heavy Nasdaq Composite (^IXIC) […]
This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: Optimism about the potential of AI to transform the tech industry has resulted in a dash to increase investment. Look no further than the income statement of Nvidia (NVDA) for signs of how […]
Brace for turbulence, and have patience. That was Mark Zuckerberg’s message to Meta shareholders on Wednesday as he explained his decision to plow tens of billions of dollars into a multi-year AI spending spree that will precede any meaningful payoff. The cofounder and CEO of Meta, which owns Instagram, Facebook, and WhatsApp, said that he’d […]
(Bloomberg) — A gauge of global chip stocks and AI bellwether Nvidia Corp. have fallen together into a technical correction, showing moderation in the global equity market’s most conspicuous driver over the past year and a half. Most Read from Bloomberg The Philadelphia Semiconductor Index and Nvidia dropped more than 3% each Wednesday, pushing them […]
TALLAHASSEE — The Tampa prosecutor suspended from his job by Gov. Ron DeSantis — who remains locked in a legal battle with the governor — announced Tuesday he would ask voters to return him to his post. Andrew Warren, a Democrat who was twice elected as Hillsborough County state attorney, said back in January he […]