MONEY (MSM)
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,
“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).
Stocks surged on Thursday, following the biggest gains on Wall Street in four years, after a U.S. Federal Reserve policymaker said the case for an interest rate increase next month “seems less compelling” than it was a few weeks ago.
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Stocks surged on Thursday, following the biggest gains on Wall Street in four years, after a U.S. Federal Reserve policymaker said the case for an interest rate increase next month “seems less compelling” than it was a few weeks ago.
President Obama is responsible for making America’s rich richer, New Jersey Gov. Chris Christie tells CNBC.
Apple may have shipped 3.6 million of its new watches last quarter, much more than Wall Street analysts estimated.
Uber Technologies Inc’s China arm has closed its $1 billion fundraising round early, according to two people with knowledge of the matter, with investors still hopeful for the U.S.-based ride …
Slightly more Americans signed contracts to buy homes in July, as pending sales edged up after dipping in June. The National Association of Realtors said Thursday that its seasonally adjusted pending home …
The economy grew more than previously estimated in the second quarter on bigger gains in consumer and business spending that show the U.S. expansion got back on track. A surge in inventories also signals such strong growth will be difficult to sustain in the short run. Gross domestic product, the value of all goods and services produced, rose at a 3.7 percent annualized rate, exceeding all estimates of economists surveyed
