Author: Press Room

An eventful week ended in little net movement – the S&P500 (SPY) closed just +28 points higher. However, the combination of a dovish FOMC and softer labor market readings did help drive a strong Thursday and Friday. The lack of a further rally could simply be a case of stopping the clock on the action at Friday’s close. As last weekend’s article concluded, “the bounce can break above 5108 resistance. This likely targets 5168-74 where another leg lower should set up.” This weekend’s article will look at the next probable swings in what is becoming a complex pattern. It will…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Israel’s far-right government has voted to shut down Al Jazeera, the Qatari-funded satellite channel, and prevent it operating in the country, accusing it of being a “mouthpiece for Hamas” and a threat to national security. The motion was passed unanimously during a cabinet meeting on Sunday, with Prime Minister Benjamin Netanyahu stating: “Al Jazeera reporters harmed Israel’s security and incited against [Israel Defense Forces] soldiers. It’s time to remove the Hamas mouthpiece from our country.”Israel’s communication minister Shlomo Karhi said in a…

The Biden administration paused a shipment of US-made ammunition to Israel, according to a source familiar with the matter, who did not disclose why the decision was made. The hold is not connected to a potential Israeli operation in Rafah and doesn’t affect other shipments moving forward, the source said. Asked about the paused shipment, a National Security Council spokesperson cited ongoing security assistance to Israel. “The United States has surged billions of dollars in security assistance to Israel since the October 7 attacks, passed the largest ever supplemental appropriation for emergency assistance to Israel, led an unprecedented coalition to…

Sunk cost, opportunity cost, and the endowment effect. You may expect these textbook-weight words to show up in the classroom. You may even imagine how understanding these concepts could help better explain corporate, institutional, or public policy matters—or at least your investment portfolio. But it’s harder to imagine utilizing them to make better decisions in everyday life. Yet that is where activating an understanding of these and other theoretical models can have the biggest impact: in our lives. I look forward to the third weekend in April every year, when a fantastic music, food, and drink festival is held in…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 7.375% as of May 3, which is unchanged from yesterday.  With mortgage rates changing daily, it’s a good idea to check today’s rate before applying for a loan. It’s also important to compare different lenders’ current interest rates, terms, and fees to…

The industrial-focused names in the Club’s portfolio wrapped up a pretty solid earnings season last week, but their stocks were largely not rewarded. Shares of toolmaker Stanley Black & Decker and industrial gas giant Linde tumbled on fiscal results Thursday, so the Club added to both positions on the overblown reactions. DuPont was the exception. The stock hit multi-year highs Wednesday after the specialty chemical maker delivered top and bottom line beats. Shares of electrical components giant Eaton sank undeservedly Tuesday despite quarterly beats. Honeywell , out the prior week, came under pressure on its April 25 earnings day on…

An arch rivalry between one-time crypto titans was brought to a close at a federal courthouse in Seattle on Tuesday when Binance founder Changpeng Zhao was handed a sentence of four months in prison. A month earlier, on the opposite coast in downtown Manhattan, FTX’s Sam Bankman-Fried received a 25-year prison sentence for his crimes.It seemed an underwhelming and somewhat anti-climactic finish to a protracted battle between Zhao and Bankman-Fried, two men who were legendary adversaries, as well as key stewards of the $2.2 trillion crypto sector.For years, Binance’s Zhao and FTX’s Bankman-Fried preached the power of decentralized, digital currencies…

The global economy is at risk of stagnating in the coming years — and America’s robust economic strength may not be enough to save it. “Without a course correction, we are indeed heading for ‘the Tepid Twenties’ — a sluggish and disappointing decade,” Kristalina Georgieva, the International Monetary Fund’s managing director, warned a few weeks ago. A lackluster performance in Europe and lukewarm growth in China (despite solid first-quarter data) are partly to blame. The good news is that despite major economic hurdles in recent years such as geopolitical conflict and high interest rates, a global recession isn’t in the…

Last updated: May 5, 2024 10:28 EDT | 2 min read After a prolonged period of continuous outflows, Grayscale’s Bitcoin Trust exchange-traded fund (ETF) recorded its first day of net positive inflows.According to preliminary data from Farside, on May 3, Grayscale’s Bitcoin Trust (GBTC) witnessed $63 million in net inflows. The positive momentum comes after an approximate $17.5 billion in outflows since the launch of 11 spot Bitcoin ETFs on January 11.Franklin Templeton’s Bitcoin ETF Sees Inflows Among the other funds making headlines, Franklin Templeton’s Bitcoin ETF saw its inflows reach a record high of $60.9 million. Meanwhile, Fidelity’s Wise Origin Bitcoin Fund led the day’s inflows with an impressive $102.6 million, followed closely by the Bitwise Bitcoin Fund with $33.5 million…

One of Goldman’s most visible female leaders is leaving the bank and Wall Street altogether.Stephanie Cohen, one of the few women in Goldman’s history to run a major division at the firm, went on a personal leave last June to focus on her family. During her sabbatical, she said, she considered her career — she’d increasingly been drawn toward the most tech-oriented parts of the organization, most recently serving as the head of platform solutions.”​​I just got to this place where it was, ‘I want to do this for real,'” Cohen told Business Insider in an interview. “This is what…