Lavish monetary stimulus has pushed up US stocks since the pandemic hit. Few would argue against that. So what happened when the Federal Reserve said this week it would start pulling back? The stock market jumped of course. In a news cycle dominated by surging meme stocks and unproven companies with valuations in the billions
Two wealth managers paid for not following their own compliance policies — one with respect to unit investment trusts another on unregistered securities. In settlements of separate cases filed this week by FINRA and the SEC, two Wells Fargo units agreed to pay $3.1 million as the last case in a targeted examination of early
In this article DRI CERN WGO FDX RIVN EPAY Check out the companies making headlines before the bell: Darden Restaurants (DRI) – The parent of Olive Garden, Longhorn Steakhouse and other restaurant chains beat estimates by 5 cents with quarterly earnings of $1.48 per share and revenue that also topped forecasts. Same-restaurant sales jumped 34.4%,
Sharing is Caring! by confoundedinterest17 The Freddie Mac 30-year mortgage commitment rate rose to 3.12%. But once we subtract the gut-wrenching inflation rate, the REAL 30-year mortgage rate is -3.689%. The nominal Freddie Mac 30-year commitment rate rose to 3.12% which is still lower than 3.18% back on April 1, 2021 after surge in rates following
The United States Securities and Exchange Commission continues to delay decisions on Bitcoin (BTC) exchange-traded funds (ETF), issuing two fresh deadline extension notices. On Wednesday, the SEC postponed two major Bitcoin exchange-traded offering proposals, including NYSE Arca’s “actual” Bitcoin ETF, named Bitwise Bitcoin ETP Trust, and Grayscale Bitcoin Trust’s Bitcoin ETF. The SEC now expects
A new cryptocurrency bill was approved by the Chamber of Deputies of the Brazilian Congress last week, and is now awaiting review by the Senate for approval. The project, if approved, would introduce a central body to regulate all cryptocurrency brokerage activity — ostensibly the Central Bank of Brazil — and establish new penalties for
Is the Build Back Better Bill is fully paid for? It seems to be a never-ending dispute, doesn’t it? On November 18, the Congressional Budget Office released its cost estimate for the Build Back Better Act, according to which the bill would spend $1.7 trillion over the years 2022 to 2031 and increase the budget
Municipals held steady Thursday, keeping to a theme that the market remains unlikely to take movements in U.S. Treasuries and equities into account for the asset class, as issuance fades and year-end approaches. Triple-A benchmarks were little changed while Treasuries improved and equities saw losses, led by tech stocks. Ratios were slightly higher with the
KATHMANDU, Dec 17: The price of gold increased by Rs 1,000 per tola on Friday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold went up by Rs 1,000 to Rs 94,000 in the domestic market. The yellow metal was traded for Rs 93,000 per tola on Thursday. On
The world’s largest silver producer has the lowest Reserve Life remaining at only… by Steve St Angelo of SRSrocco Report Yes, it’s true. The largest silver-producing countries in the world have the lowest reserve life remaining. And, when I say… LOW, it isn’t decades’ worth of silver reserves; rather, it’s a matter of years. This may
Human capital is a concept that deviates slightly from other forms of standard capital. It is not necessarily like debt or equity capital that is more easily accounted for on the balance sheet. Rather, it falls more in the realm of intellectual property and intellectual capital, which is generally hard to quantify. That is because
The HSBC Holdings Plc headquarters building in Hong Kong, China. Paul Yeung | Bloomberg | Getty Images LONDON — Investors should brace for a “pay-back period” in 2022 following a year of strong gains, as macroeconomic risks mount, according to HSBC Asset Management. In its 2022 investment outlook, the bank said the bumper returns investors
A burst of early Christmas shopping boosted UK retailers in November, as consumers heeded warnings to buy gifts early to avoid being caught by stock shortages due to supply chain problems. Retail sales volumes rose by 1.4 per cent from the previous month, faster than analysts had expected, and were 7.2 per cent above their
HSBC has been hit with a £64m fine and sharply criticised by UK regulators for “serious weaknesses” in its anti money laundering controls over an eight-year period. The Financial Conduct Authority said that, between March 2010 and March 2018, HSBC had a string of AML failures. They included not properly considering the scenarios it was
John lost 15% of his retirement savings in a non-traded REIT and was unable to pay his mortgage when the REIT subsequently suspended distributions and redemptions. Sharon and Bill lost their $25,000 savings when their promissory note investment turned out to be a Ponzi scheme. Mary invested her retirement savings in bonds and watched her
In this article ADBE ABNB HOOD WOOF ACN The Adobe Systems logo is displayed outside one of the company’s offices. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Adobe — Shares of Adobe sank 11.4% after issuing weaker-than-expected guidance. Adobe forecast fiscal year 2022 adjusted earnings
Sharing is Caring! by Jim Quinn Fauci, Biden and their band of merry varianteers began to see their fear narrative dissipating around Thanksgiving. Cases had fallen from 175,000 per day in mid-September to the 70,000 range in late November, down 60% and far below the 255,000 cases per day in January 2021. The Delta variant
Around the world, douchebags are getting into NFTs in a big way. Now it’s true that there are thousands and thousands of legitimate artists in the growing non-fungible token space, and that precisely none of them are Paris Hilton. And sure, NFTs are a potentially world-changing phenomenon that were just declared ArtReview’s most powerful entity
New York City has always attracted talent and a hub for progress. And yet, while New York graduates one of the highest numbers of STEM talent each year, the city ranks only sixth in life sciences square footage—behind the Bay Area, Boston and the Research Triangle in the Raleigh/Durham area of North Carolina, among other
Global digital asset savings and credit platform Ledn has announced the upcoming launch of a bitcoin-backed mortgage product, calling it “the first product of its kind to hit the market.” The company has also raised $70 million, which brings its valuation to $540 million. Bitcoin-Backed Mortgage — ‘The First Product of Its Kind to Hit
With talks of major long-term changes to retirement planning as part of the potential tax reform legislation, it’s a great time to start thinking about Roth IRA conversions. As 2021 comes to a close, you might be considering Roth conversions as part of your end-of-year planning, especially in light of the historic low tax rates
The Miami-Dade County Seaport Department won The Bond Buyer’s 20th annual Deal of the Year award for PortMiami’s $1.24 billion seaport revenue refunding bonds. PortMiami is the largest cruise port in the world and a large containerized cargo port. As a result of the COVID-19 pandemic, PortMiami cruise operations were suspended for nearly 16 months.
Silver markets have rallied considerably during the last 24 hours, after the Federal Reserve was a bit less hawkish than anticipated. The also left the door open for e-zine if it was necessary, and that of course is something that people will be paying close attention to. Quite frankly, silver desperately needed to recover in
What are the odds the Fed can successfully deflate this current Everything Bubble? by Graham Summers of Gains, Pains, & Capital The Fed finally succeeded in creating its much-desired inflation… and the great irony is that it will likely blow up the financial system. For decades now the Fed argued that it should keep interest
Social media site Reddit revealed on Dec. 15, 2021 that it has made a confidential filing with the U.S. Securities and Exchange Commission (SEC) in preparation for an initial public offering (IPO). Reddit reportedly is aiming for a valuation of $15 billion when its IPO comes to market. Message boards on Reddit, most notably WallStreetBets,
(Click here to subscribe to the new Delivering Alpha newsletter.) Engine No. 1 was founded a year ago this month, and since then, has made a splash in the investing world. Most notably, the ESG-oriented investment firm took on Exxon Mobil in a proxy battle and won. It also launched an ETF and published a white paper,
Repeats comprise almost a third of output on the BBC’s flagship television channel as a funding squeeze forces deeper cuts to programming budgets and exacerbates pandemic-induced disruption, the public spending watchdog has found. The proportion of reruns on BBC One’s schedule has risen more than a fifth over four years and BBC Two is even
Eric Platt and Kate Duguid in New York and George Steer and Tommy Stubbington in London US stocks fell on Thursday as shares of some of the largest publicly traded technology companies slid in value after policy decisions from the European Central Bank, Bank of England and Federal Reserve. The tech-heavy Nasdaq Composite declined 2.5
A former Ameriprise advisor who conned elderly clients he met through church out of millions of dollars has been sentenced to 168 months in federal prison. Paul Ricky Mata, 58, was handed the 14 year sentence Monday in the court of U.S. District Judge R. Gary Klausner. The Oceanside, California, man was also ordered to
In this article GM X RIVN FDX JBL AFRM Rivian employees stand beside the new all-electric pickup truck by Rivian, the R1T, as it sits at one of its facilities on November 09, 2021 in the Brooklyn borough of New York City. Spencer Platt | Getty Images Check out the companies making headlines in after-hours