Tag Archives: Street

War in Ukraine, raging inflation and a clouded economic outlook were top of mind for executives at financial firms last week as they recapped an underwhelming quarter on Wall Street in their post-earnings calls with investors. But another widely-cited topic in those conferences went largely under the radar: heavy talk of imminent blockchain plans from some of the industry’s biggest firms. BlackRock (BLK), JPMorgan Chase (JPM) and Goldman Sachs (GS) were among the major financial institutions… Source link

Jordan Belfort attends the premiere party for “The Wolf of Wall Street” at the Roseland Ballroom in New York.Evan Agostini/Invision/AP Jordan Belfort, the real-life “Wolf of Wall Street,” is now marketing himself as a crypto mastermind. Last week, he hosted a $40,000 cryptocurrency workshop at his Miami estate, NYT reported Friday. Three years ago, the former stockbroker and convicted felon said Bitcoin was a “mass delusion.” Jordan Belfort, the real-life inspiration behind “The Wolf of Wall… Source link

The U.S. economy added nearly half a million jobs in March. The Dow Jones industrial average is within 6% of its record high. And U.S. households accumulated roughly $2.5 trillion in excess savings throughout the pandemic. Still, despite all the good news, predictions of an impending recession are widespread on Wall Street. Billionaire investors, former Federal Reserve officials, and now even investment banks have repeatedly warned that the economy may hit a wall in 2023. What’s driving the… Source link

Rite Aid’s (RAD) outlook is a hot mess — so hot the company may not be in business much longer. At least that’s the word from Deutsche Bank analyst George Hill, who issued a damning downgrade of the struggling retailer on Thursday. Hill slashed his rating on Rite Aid to Sell and slapped the stock with a $1 price target. Most worrisome — at least if one still owns Rite Aid’s stock — is that Hill suggests Rite Aid may go under. “We see a likely risk that the company provides guidance next… Source link

Main Street banking is poised to see the best growth since the 1980s, when Madonna and Michael Jackson were on MTV, Ronald Reagan was in office, and everyone had long hair and wore neon attire. And Bank of America (BAC) will be the biggest winner. That’s according to Wells Fargo analyst Mike Mayo, who told Yahoo Finance Live on Thursday that traditional banking revenue will grow the same way it did in the 1980s, creating a boom for the industry in the next three years. Moreover, BofA stands… Source link

Google is being probed by the EU and the U.K. over whether it and Meta Platforms sought to illegally fix prices in digital advertising. Photo: Marcio Jose Sanchez/Associated Press Source link

Investors are still reeling from a roller coaster ride — attempting to price in a bewildering array of sweeping sanctions against Russian entities with all its attendant knock-on effects. There’s a growing divide on Wall Street, with some saying that the worst is over and investors should buy the dip while others are saying investors should be cautious and concerned about lingering tail risks. Dominic Wilson of Goldman Sachs’ global markets strategy team is wary of both surging oil prices… Source link

Sundar Pichai Photo: Courtesy of Google Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Thursday, February 25, 2022 Inflation, and the Fed’s reaction to it, remains the biggest market risk Crying ‘havoc,’ Vladimir Putin has let slip the dogs of war — both in Eastern Europe and global financial markets. Thursday’s breathtaking comeback on Wall Street, roiled by panic-selling stemming from the Russia-Ukraine conflict, signaled… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Thursday, February 24, 2022 Why things aren’t as bearish as they appear Dispatches from Wall Street — where tensions between Russia and Ukraine turned hot overnight, displacing fears of inflation fighting central bankers — have become decidedly bleak these days. Cratering stocks are “on a war footing,” as Barron’s said this week, which… Source link