This is definitely not a good look. At a time when the federal government is struggling to manage its $2 trillion bailouts for main street and SMEs, a handful of Goldman Sachs insiders (probably high-ranking executives) have apparently decided to sandbag CEO David Solomon, who is already reeling from the blowback to his latest raise, the highest among his peers despite $GS’s lagging performance. BBG reported […]
Street
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Update (1800ET): And so Wall Street wins again. After we warned earlier that the SBA’s $350BN Paycheck Protection Program, which is expected to be launched at midnight tonight and is meant to bailout America’s small and medium business (<500 employees), may never even get off the ground because the proposed interest rate on the loan of 0.5% is too low lender banks (alongside with various other […]
US stocks traded wildly on Thursday after a government report that the number of Americans filing for unemployment insurance over the last two weeks has skyrocketed to more than 10 million. The Dow Jones Industrial Average dropped 100 points at the opening, before recovering and making strong gains. The S&P 500 and the Nasdaq Composite were trading higher. The Labor Department reported on Thursday that the number of […]
27 Mar, 2020 13:34 US markets dropped on Friday as the House of Representatives is expected to vote on the $2 trillion stimulus bill to contain the coronavirus spread. The US is now the worst-hit nation with more than 85,000 people infected. Source
Key American stock indexes opened higher on Thursday despite fresh jobs data revealed worse than expected number of unemployment claims that surged to over three million. The Dow Jones Industrial Average was up 500 points, or over two percent, during early trading. Both the S&P 500 and the Nasdaq Composite jumped more than one percent higher. DETAILS TO FOLLOW Source
We have entered uncertain times. The novel coronavirus has upended life around the globe, and none of us knows exactly how long the outbreak or its ramifications will last. But daily reminders of how much we can’t control shouldn’t stop us from seizing upon those things we can. We may not know if the United States has yet been successful in flattening the curve, but we […]
With celebrities only allowed out of their secure bunkers for a maximum of one non-essential photo call per day, it’s important to make every second in the public domain count. Ben Affleck and his Deep Water co-star Ana de Armas have certainly received the memo, venturing out from their home with a solid alibi (walking her minuscule white puppy) before pausing for a paparazzi-friendly smooch on […]
AVA Labs, the first project building on the “Avalanche protocol” blockchain network, is looking to modernize financial infrastructure. As first envisioned in a 2018 white paper by the pseudonymous “Team Rocket,” Avalanche protocol uses random network sampling to reach consensus. But it is AVA Labs’ ambition in building new infrastructure for the financial markets which now drives the firm forward. The new platform could have special […]
19 Mar, 2020 13:32 US stocks are trading lower on Thursday after already plunging nearly 30 percent. The failure by Western countries to contain the Covid-19 outbreak is bringing global business to a halt and causing panic among investors. Source
In the lead up to this morning’s must-watch initial jobless claims data, searches for unemployment-related services have exploded as national lockdowns have led to mass layoffs across both the services and manufacturing sectors. And while analysts expected a modest 220k jump, the print came at 281,000 new jobless claims in the last week… However, worse is guaranteed to be coming with claims will start moving […]
Algeria has banned street protests over the coronavirus, President Abdelmadjid Tebboune said on Tuesday, in a bid to end a year of unprecedented mass demonstrations that brought down the veteran president and convulsed the state. Speaking in a televised address after meeting government ministers and security officials, Tebboune said gatherings and marches were prohibited. “The lives of citizens are above all considerations even if this requires […]
Algeria has banned street protests over the coronavirus, President Abdelmadjid Tebboune said on Tuesday, in a bid to end a year of unprecedented mass demonstrations that brought down the veteran president and convulsed the state. Speaking in a televised address after meeting government ministers and security officials, Tebboune said gatherings and marches were prohibited. “The lives of citizens are above all considerations even if this requires […]
18 Mar, 2020 08:14 The British professor largely credited with convincing the British government to stiffen its response against the coronavirus has self-isolated after developing symptoms, saying, “there is a lot of COVID-19 in Westminster.” “Sigh. Developed a slight dry but persistent cough yesterday and self isolated even though I felt fine,” said Neil Ferguson, a professor of mathematical biology at Imperial College London. “Then developed […]
With scores of high-level contacts, Charles Gasparino of Fox Business is as dialed in as anyone when it comes to knowing what key investors are thinking. So what do they believe will happen at the ballot box this November? “Trump is toast.” Yes, according to Gasparino, the current read from Wall Street is that not only will President Donald Trump lose in the fall, but there […]
Don Emmert/Getty Images The Chinese Ministry of Foreign Affairs announced that they will expel American journalists from three news outlets — the New York Times, Washington Post and the Wall Street Journal — who are stationed to work in the country. The press release, entitled “China Takes Countermeasures Against US Suppression of Chinese Media Organizations in the United States,” claims that “the US government has placed […]
The influential trader once called the Bounty Hunter of Wall Street may have been acting in the public interest as well as his own when he tweeted a warning about one of the leading biotech companies developing a novel coronavirus vaccine. Or Andrew Left may have simply been seeking to cash in amidst a global pandemic, whatever impact his actions might have on Inovio Pharmaceuticals and […]
Public-private partnerships perpetuated the racial gap in homeownership and were ultimately ‘intended to create greater penetration and mobility for capital, not people.’” In 1970, Janice Johnson, a Black single mother in Philadelphia, was facing eviction from an old apartment building condemned by the city. She was desperately seeking a place for her and her 8-year-old son to live, and her attempts to rent nearby apartments were coming […]
The cascade of bans and cancellations caused by coronavirus around the globe has sent US stocks to their worst losses since the ‘Black Monday’ of 1987, with Wall Street officially falling into bear market territory. The S&P 500 plummeted by 9.5 percent on Thursday. The index that was at an all-time high in February has lost a whopping 26.7 percent since, meaning that the record 11-year-long […]
US stock trading was halted on Thursday morning after markets in New York dropped over seven percent right at the opening bell. DETAILS TO FOLLOW Source
Firefighters disinfect the streets of Tehran to slow down the spread of the coronavirus March 11, 2020 at 2:36 pm READ: Iran temporarily frees 70,000 prisoners over Coronavirus Related Source
When the stock market was melting up virtually every day from the launch of QE4 until the end of January, Wall Street’s “expert” strategists always had a ready explanation “why”: solid earnings, strong fundamentals, traders climbing a wall of worry, a global economic rebound, inflation picking up, blah blah blah (just not the Fed, never the Fed as that would mean Wall Street professionals as a […]
The market seems disappointed. After The Fed’s 50bps rate-cut sent stocks spiking higher, all those gains have been erased… But the market (and trump) was asking for more and Wall Street does not seem impressed… as the market’s dependence in Fed largesse is revealed for all to see… Matt Maley, an equity strategist at Miller Tabak & Co: “This should be very positive on a near-term […]
On Friday morning, with stocks resuming their historic plunge, we said that across Wall Street, there was just one question: “Will The Fed Activate A Coordinated Central Bank Bailout On Sunday.” And indeed, just a few hours later, the Fed Chair did in fact publish an unscheduled statement in an attempy to calm crashing markets: The fundamentals of the U.S. economy remain strong. However, the coronavirus […]
A police complaint has been filed in India accusing the Wall Street Journal of fueling sectarian hostility during recent unrest in Delhi and falsely reporting that a mob had shouted a Hindu slogan before stabbing a man to death. The complaint was filed on Friday over a February 26 report in the Journal, which stated a gang of attackers chanted “Jai Shri Ram” – a Sanskrit […]