ARK Invest’s Cathie Wood says the U.S. is already in a recession

Catherine Wood, chief executive officer of ARK Investment Management LLC, speaks during the Bitcoin 2022 conference in Miami, Florida, US, on Thursday, April 7, 2022. Eva Marie Uzcategui | Bloomberg | Getty Images Ark Invest CEO Cathie Wood said Tuesday that the US is already in an economic downturn, and she admitted that she underestimated … Read more

Credit Suisse to overhaul its risk management after Archegos and other scandals

A sign above the entrance to the Credit Suisse Group AG headquarters in Zurich, Switzerland, on Monday, Nov. 1, 2021. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse has vowed to forge ahead with its risk management and compliance overhaul in light of a string of scandals, despite what its CEO called … Read more

Stock index futures rise following a losing day Monday

Stock futures rose early on Tuesday following a losing day as investors prepare to rebalance their portfolios with the end of the quarter fast approaching. Futures on the Dow Jones Industrial Average gained 248 points or 0.79%. S&P 500 futures edged up 0.83% and Nasdaq 100 futures advanced 0.94%. The overnight action followed modest losses … Read more

SPACs wipe out half of their value as investors lose appetite for risky growth stocks

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, June 16, 2022. Brendan McDermid | Reuters SPACs, once Wall Street’s hottest tickets, have become one of the most hated trades this year. The proprietary CNBC SPAC Post Deal Index, which is comprised of SPACs that have completed their … Read more

Quarter-end buying may lift stocks higher before the next market storm

Trader on the floor of the NYSE, June 7, 2022. Source: NYSE The stock market is about to close out its worst first half in decades in the week ahead, setting the stage for a summer of uncertainty and volatility. But in the very near term, strategists see a window of positive momentum for an … Read more

Nasdaq adds 1% as bond yields slip, Wall Street considers recession risk

The Nasdaq Composite added 1% as bond yields added to weigh risks, and Wall Street continued to recession. The Dow Jones Industrial Average rose 37 points, or 0.1%. The S&P 500 gained 0.4%. The tech-heavy Nasdaq outpaced the other averages as market participants continued to mull over the likelihood of an economic downturn, and as … Read more

What that means for prices

President Joe Biden called on Congress Wednesday to temporarily suspend the federal gas tax, as he tries to quell the rapid surge in prices at the pump. While experts say a suspension could provide some immediate relief, it could also keep demand elevated, thereby exacerbating tight supply. Consumers are getting hit with higher prices everywhere, … Read more

Stock futures fall after markets claw back some losses

US stock index futures fell overnight Tuesday after the major averages jumped in regular trading hours following, attempting to claw back some losses selling. Futures contracts tied to the Dow Jones Industrial Average slipped 185 points or 0.61%, while S&P 500 futures declined 0.63%. Nasdaq 100 futures dipped 0.63%. During regular trading Tuesday, the Dow … Read more

Inflation the biggest poison for the world economy

Europe and the US face the high likelihood of recession, the central banks are forced to aggressively tighten monetary policy to combat inflation, according to Deutsche Bank CEO Christian Sewing. The US Federal Reserve, European Central Bank, Swiss National Bank and the Bank of England all moved to rein in inflation last week, albeit to … Read more

Stock futures jump as the market looks set to rebound from a brutal week

Traders on the floor of the NYSE, June 16, 2022. Source: NYSE Stock futures rose in overnight trading Monday following a brutal week as investors assessed a more aggressive Federal Reserve and rising chances of a recession. Futures on the Dow Jones Industrial Average jumped 433 points, or 1.45%. S&P 500 futures climbed 1.67% and … Read more