We're not done with volatility: Strategist
The market selloff hasn’t run its course, even with two-straight trading sessions ending sharply higher, Strategas’ Jason Trennert warns.
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U.S. consumer sentiment falls in August
U.S. consumer sentiment fell in August, a survey released on Friday showed. The University of Michigan’s final August reading on the overall index on consumer sentiment came in at 91.9, down from 93.1 in July. It was lower than the survey’s preliminary reading of 92.9.
This is what oil at $40 means for the U.S. economy
The price of oil has tumbled 58% this year to reach a six-year low earlier this week. Even if prices stay at these levels, chances are they won’t impact the Federal Reserve’s interest-rate plans.
How the government is rolling over for big banks again
Last week I wrote about the dangers of vacant seats at the financial regulatory agencies. Bloomberg reported this week that regulators are privately discussing giving the biggest Wall Street firms a break on rules guarding against excessive leverage. Just looking at the Chinese stock market crash, fueled by “margin trading” funded through borrowing, reveals the hazards of excessive leverage.
Three tests face a market shaken by volatility storm
There are at least three core challenges facing the market: A badly broken trend, the still-dangerous winds of this volatility storm, and the Fed’s response to all the noise.
Investors pull record $29.5 bln from equity funds in China-driven rout: BAML
Investors pulled a record amount of money out of global equity funds in the week to Aug. 26, according to Bank of America Merrill Lynch, a measure of the alarm that China’s markets and economy have aroused around the world. The $29.5 billion outflow, including $19 billion in just one day, was the largest since the series began in 2002, surpassing any weekly outflow engendered by the collapse of Lehman
US consumer spending up moderate 0.3 percent in July
U.S. consumers increased their spending moderately in July, as wages and salaries made their biggest jump in eight months. Spending rose 0.3 percent in July, helped by purchases of big-ticket items such …
Hedge funds that crowded into same names likely to nurse losses
The carnage of the last week – even with Wednesday’s and Thursday’s rebound – has been particularly acute for investors who have seen their overweight positions in companies such as social media site Facebook, pharmaceutical company Valeant, internet retailer Netflix, carmaker Tesla Motors and renewable energy company SunEdison get pummeled in the last days. As a result, people who have money with David Einhorn’s Greenlight Capital, Leon Cooperman’s Omega Advisors,
U.S. crude up over 4 percent on scramble to cover shorts
“A severely oversold and shorted oil market is creating a bid for covering in U.S. crude,” said Chris Jarvis, analyst at Caprock Risk Management in Frederick, Maryland. U.S. crude’s front-month was up $1.90, or 4.4 percent, at $44.46 a barrel by 11:00 a.m. EDT (1500 GMT).
Hugh Jackman Surprises 9-Year-Old Fan, a Make-A-Wish Recipient—Watch the Heartwarming Video!
A young fan of Hugh Jackman and Wolverine recently got the surprise of his life. A boy named Domenic, 9, who suffers from the incurable genetic disorder Cystic Fibrosis,…