Tag Archives: Street

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) * U.S. consumer prices jump most since June 2009 * Megacap growth stocks weigh heaviest * Energy shares gain as crude climbs * Indexes down: Dow 1.99%, S&P 2.14%, Nasdaq 2.67% (Updates with closing prices) By Stephen Culp NEW YORK, May 12 (Reuters) – Wall Street closed lower on Wednesday with the S&P suffering its biggest one-day percentage drop since February, as inflation data fueled… Source link

Bloomberg ‘A Preventable Mess’: How Dementia Takes Toll on Aging Lawyers (Bloomberg) — Robert Fritzshall had to be pushing 80, Bethany McLean thought, so she was a little surprised to hear him talk about expanding his law practice.His office was a bit dusty and cluttered with papers. There were files on the floor. She was concerned that he didn’t see the need to carry malpractice insurance. But she doesn’t remember anything being a red flag.“He was charismatic, enthusiastic,” she… Source link

(Bloomberg) — Wall Street traders like Trey Griggs are finding a new lease on life in the $2.4 trillion crypto Wild West. After two decades in energy trading, the 51-year-old was lured by a former Goldman Sachs Group Inc. colleague this February into a new world of market-making in digital currencies. Now he’s in fighting spirits — unleashing old-school finance tricks to exploit the industry’s rampant inefficiencies, volatility and downright weirdness. “All the fun that used to be had 30… Source link

Bloomberg As Sanjeev Gupta Rose From Trader to Tycoon, Several Banks Backed Away (Bloomberg) — British industrialist Sanjeev Gupta’s companies seemed to be prospering until his main lender, Greensill Capital, imploded last month. But long before Greensill collapsed, several banks had cut off the commodity trading business of Gupta’s Liberty House Group.Four banks stopped working with Gupta’s commodity trading business, starting in 2016, after they became concerned about what they… Source link

Equities researchers at New Street Research started coverage on shares of Yandex (NASDAQ:YNDX) in a report issued on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $81.00 price target on the information services provider’s stock. New Street Research’s target price would indicate a potential upside of 25.12% from the company’s current price. Several other analysts have also recently issued reports on YNDX. HSBC cut shares of Yandex from a “buy” rating to a “hold” rating and… Source link

(Bloomberg) — The day-trading Reddit crowd turned the first quarter of 2021 into one of the wildest periods of stock market mania in modern history. Books — plural — will undoubtedly be dedicated to the topic in years to come. But after these small-time speculators banded together to drive up dozens of obscure stocks by hundreds or even thousands of percent — and in the process burned a few hedge-fund barons betting on declines — the movement appears to be petering out. An index that… Source link

(Bloomberg) — Wall Street banks grappling with the implosion of Bill Hwang’s investment firm spent Monday briefing U.S. regulators as Washington starts to dig into one of the biggest fund blowups in years. The Securities and Exchange Commission summoned the banks for hasty meetings on what triggered the forced sale of more than $20 billion of stocks linked to Hwang’s Archegos Capital Management, said people with knowledge of the matter who asked not to be named in discussing private… Source link

(Bloomberg) — As Wall Street speculated on the identity of the mysterious seller behind the massive $10.5 billion in block trades executed on Friday by Goldman Sachs Group Inc., investors also pondered just how unprecedented the selloff was — and whether there’s more to come. The sales lit up trader chat rooms from New York to Hong Kong and were part of an extraordinary spree that erased $35 billion from the values of bellwether stocks ranging from Chinese technology giants to U.S. media… Source link

Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Tuesday, March 16, 2021 No one can be bullish enough right now We’re one week away from lapping the one-year anniversary of the market’s pandemic low. And Wall Street is still struggling to keep up with the pace of both the recovery in markets and the real economy. As happens over the weekends and into Monday morning, The Morning Brief’s inbox is flooded with weekly updates from economists,… Source link