China’s Evergrande saga is troubling, and it could definitely signal coming ruptures in China’s real estate and financial markets. But suggesting it’s a “Lehman moment” gets the magnitude wrong and distorts some important lessons form the financial crash of 2008. If anything, the giant property developer poised to default on billions in debt is a “Bear Stearns moment,” a distinction that clarifies what might be similar to the 2008 crash, and what might be different. Here’s a… Source link

Longer-dated U.S. government bond yields jumped after the Federal Reserve signaled that it would likely start pulling back on its monetary stimulus in November. Since the Fed’s announcement on Wednesday afternoon, the yield on the U.S. 10-year (^TNX) climbed 10 basis points to as high as 1.41%, a figure not seen since July. The yield on the U.S. 30-year (^TYX) similarly rose as much as 10 basis points, to 1.92%. Polaris Wealth Advisory Group Managing Partner Jeff Powell said that he expects… Source link

Talk about industrial and materials stocks being as cold as a slab of frozen beef.  The industrial and materials sectors of the S&P 500 have tanked 6.49% and 7.47%, respectively, since Aug. 16, according to research out of Sundial Capital Research. That makes each sector the worst performers from within the S&P 500 over this time span. The S&P 500 is roughly flat going back to Aug. 16. Sundial says the selling pressure is “getting extreme,” and the data bears that out.  The percentage of… Source link

Google is adding a new button to Google Calendar events on mobile and the web that will immediately open a chat with meeting attendees. Google launched its rebranded version of Hangouts Chat to customers earlier this year and has slowly added more features to the main Gmail landing page, including its Zoom-like Google Meet video chat. The new Chat button appears next to the attendee list in a Calendar event. Previously, Google only offered the ability to email attendees about a meeting,… Source link

Each year, 8 million tons of plastic — the equivalent of a garbage truck load every minute — is dumped into the ocean, according to the World Economic Forum.  The Ocean Cleanup, a nonprofit engineering environmental organization based in the Netherlands, is attempting to remove as much of that plastic as is feasible. “Our strategy is really twofold,” The Ocean Cleanup CEO and Founder Boyan Slat said on Yahoo Finance Live (video above). “On one hand, stop the source, preventing more… Source link

The market is fighting hard to shrug off a carousel of concerns ranging from an expiring debt ceiling to potential contagion from a bust of overly-indebted China real estate development Evergrande.  But any rally off the recent lows may prove short-lived, contends Binky Chadha, Deutsche Bank chief markets strategist. The veteran strategist reiterated his call for a deep stock market correction on Thursday.  “I would say this [week’s] sell-off was very much a garden variety pullback rather… Source link

A new Google TV feature will allow users to use their Android mobile devices as remotes for those moments when your streaming box’s wand disappears without a trace. Android mobile remote support for Google TV arrives today after the company initially announced the feature during Google I/O back in May. (A spokesperson told The Verge the tool will only be available for Android at this time and did not have anything further to share about future iOS support.) … Source link

Federal agents policing a makeshift encampment for a surge of migrant Haitians in Del Rio, Texas, have stopped using horse patrols after images surfaced of law enforcement on horseback chasing down migrants. The images brought a swift rebuke, with lawmakers criticizing the practice as inhumane and a vow for a swift investigation from the Biden administration. Homeland Security Secretary Alejandro Mayorkas testified this week before Congress about the images. Department of Homeland Security… Source link

Funding a Roth IRA through the “backdoor” has been a favorite move of aggressive savers in recent years. But the benefit may be much less prevalent if Democrats pass their ambitious multitrillion-dollar budget reconciliation bill. The backdoor Roth maneuver lets a high-income earners contribute money to a traditional IRA and then convert it into a Roth to skirt income limitations in the Roth program, but still take advantage of the tax benefits. Once the move is made – and the relevant… Source link

BRUSSELS, Sept 23 (Reuters) – Alphabet (GOOGL.O) unit Google is seeking to settle an EU antitrust investigation into its digital advertising business, a person familiar with the matter said, a move that could help it stave off a disruptive, lengthy probe and a possible hefty fine. EU antitrust cases have cost Google more than 8 billion euros ($9.4 billion) in fines in three different cases in the last decade and it has also been ordered to change its business practices to allow rivals to… Source link