Author: Press Room
Shares of Tesla Inc. TSLA shed 3.35% to $180.54 Wednesday, on what proved to be an all-around poor trading session for the stock market, with the NASDAQ Composite Index COMP falling 0.85% to 11,929.34 and Dow Jones Industrial Average DJIA falling 0.11% to 33,646.50. Tesla Inc. closed $183.53 short of its 52-week high ($364.07), which the company achieved on April 21st. Trading volume (149.0 M) remained 14.6 million below its 50-day average volume of 163.6 M. … Read the full article here
By Adriano Marchese Teck Resources Ltd. said Tuesday that it will review Glencore PLC’s revised unsolicited offer to effectively buy out shareholders of their coal exposure, but noted that the new offer isn’t much different. Earlier on Tuesday, Glencore, a London-listed Anglo-Swiss commodity mining and trading company, said its new offer would… Read the full article here
The slowdown in the housing market hasn’t spared the super-rich. From the ritzy suburbs of Beverly Hills to the glitzy Manhattan skyline, luxury real-estate has felt the heat from the broader sector’s weakness. Particularly with mortgage interest rates double where they were last year and the flow of new listings slowing, ultra-luxury real-estate has taken a hit, Mauricio Umansky, a Los Angeles-based real-estate entrepreneur and TV reality-show personality, told MarketWatch. “The… Read the full article here
The U.S. economy is still dealing with high inflation, but the housing sector is showing signs of cooling off. The Consumer Price Index rose 0.1% in March from the previous month, according to the latest report from the federal government. It was the smallest uptick in 3 months, and was lower than usual due to an easing in energy costs. The… Read the full article here
3/3 © Reuters. FILE PHOTO: Customers line up outside of the Silicon Valley Bank headquarters in Santa Clara, California, U.S. March 13, 2023. REUTERS/Brittany Hosea-Small 2/3 By Lawrence Delevingne (Reuters) – As First Republic Bank (NYSE:)’s share price fell by double-digits in the aftermath of the collapse of Silicon Valley Bank last month, some people close to the San Francisco-based lender were worried short sellers were exacerbating its travails, according to a source familiar with the situation. Investors who wager shares in a company will fall were increasing bets on First Republic’s stock when it was already taking a beating,…
A look at the day ahead in U.S. and global markets from Mike Dolan Stock markets seem determined to see a glass half full in assessing the foggy growth and inflation outlook, with major bourses pushing higher again on Tuesday as the critical U.S. March consumer price readout looms. If, as many suggest, stocks are now trading more off growth than interest rate signals, then last week’s U.S. employment report had much to cheer about – with decent jobs growth along with the lowest annual wage gain since 2021. Ahead of the start of the first quarter earnings season this…
By Ambar Warrick Investing.com — The U.S. dollar traded near two-month lows on Thursday as softer-than-expected inflation data and fears of a recession saw markets pricing in a greater chance that the Federal Reserve will pause its rate hike cycle. But Asian currencies saw limited gains on Thursday, as fears of slowing economic growth kept markets wary of most risk-driven currencies. The and moved little in Asian trade, after tumbling to near a two-month low in overnight trade. Data showed that U.S. (CPI) inflation eased more than expected in March, although inflation still remained stubbornly high. The data triggered increased…
By Joe Cash and Jorgelina do Rosario BEIJING/WASHINGTON D.C. (Reuters) – Top officials from China will attend the World Bank and International Monetary Fund spring meetings in Washington this week, their first attendance in person in three years after COVID-19 curbs limited them to virtual participation. Yi Gang, governor of the People’s Bank of China, will attend the meetings this week, accompanied by a deputy-governor, China’s central bank told Reuters. However, the Ministry of Finance did not respond when asked whether finance minister Liu Kun would also travel to Washington this week, as he is expected to do so. Asian Infrastructure…
Recent upheaval within the banking system is likely to drag the U.S. economy into a recession later this year, according to the Federal Reserve. Minutes from the U.S. central bank’s March 21-22 meeting released on Wednesday showed staff members believe a downturn is imminent, following the collapse of Silicon Valley Bank and Signature Bank in early March. “Given their assessment of the potential economic effects of the recent banking-sector developments, the staff’s projection at the time of the March meeting included a mild recession starting later this year, with a recovery over the subsequent two years,” the minutes said. HOW THE…
There are plenty of reasons to attend an Ivy League institution if you’re one of the lucky students to be admitted. The eight famed colleges consistently earn top honors on various rankings, based on factors like academics and career outcomes. Attending an Ivy may also help you earn a high salary. The University of Pennsylvania in particular reports the highest median incomes among former attendees who received federal aid. Data shows 10 years after starting at Penn, federal aid recipients earn a median salary of $103,246 annually.Plus, Forbes’s 2022 list of the 400 richest people in America featured 17 Penn graduates…
