These countries are most vulnerable to the emerging market storm
1. Trouble in paradise: For the past decade, a river of easy money rushed into emerging markets. Now that powerful force is reversing. Rising interest rates, along with trade wars, have started a stampede out of some emerging markets. The Turkish lira and Argentine peso have crashed, while China’s stock market is stuck in a […]
Stocks pop after new US-Canada-Mexico deal
New York CNN Business — The stock market appears to like the new trade agreement between the United States, Canada and Mexico. Stocks popped after all three countries agreed to an 11th hour deal to replace NAFTA. The Dow rose 193 points, a gain of 0.7%. The S&P 500 gained 0.4%, and the Nasdaq lost […]
Corporate America is spending more on buybacks than anything else
For the first time in a decade, Corporate America is steering more money into stock buybacks than investing in the future. S&P 500 companies rewarded shareholders with $384 billion worth of buybacks during the first half of 2018, according to a Goldman Sachs report published Friday. That big bonanza for Wall Street is up 48% […]
Instagram gets a new chief: Facebook vet Adam Mosseri
New York CNN Business — Instagram has a new leader. On Monday, the company announced that Adam Mosseri will head Instagram effective immediately. Last week, Instagram founders Kevin Systrom and Mike Krieger announced they would leave the company. “We are thrilled to hand over the reins to a product leader with a strong design background […]
Business leaders at China’s ‘Davos’ warn of damaging deadlock
Business leaders and officials in China say that Beijing is ready to dig in for a war of attrition with the United States on trade. The Trump administration launched its biggest barrage of tariffs yet just as top executives and policymakers were gathering for the start of a World Economic Forum event in the northern […]
Tesla calms fears with strong sales numbers
New York CNN Business — A tumultuous quarter at Tesla ended with some very good sales numbers. The company delivered 83,500 vehicles during the third quarter, a strong performance that should calm investor fears about logistical problems and a looming cash crunch. That included almost 56,000 of the lower-priced Model 3. Production was a bit […]
Investors are starting to worry about the economy
Wall Street doesn’t seem to care about the escalating trade war between the United States and China. The Dow jumped 175 points and the Nasdaq climbed 1% on Tuesday despite Washington and Beijing pushing ahead with another round of punishing tariffs. Investors are betting the US economy will continue to power ahead of the rest […]
The last thing Europe needs: another Greek debt crisis
How’s this for déjà vu? Another debt crisis is brewing in Europe. Greece needs European creditors to release cash from a bailout agreed in 2015 so it can make debt repayments, but officials are at loggerheads. Investors are starting to worry, demanding higher returns on Greek debt. Adding to the confusion is a warning from […]
Goldman Sachs slants research to help Democrats, top White House adviser says
New York CNN Business — Kevin Hassett, one of President Donald Trump’s top economic advisers, suggested that Goldman Sachs may be slanting its economic research to help Democrats ahead of the midterm elections. The Goldman Sachs economics team “almost at times looks like the Democratic opposition,” Hassett told CNN’s Poppy Harlow on Tuesday. The comment […]
Ether Options Market Shows Bias for Price Weakness Over Next 6 Months
Ether’s price appears overvalued compared to Ethereum’s dwindling revenues, one analyst said. Ethereum‘s native token Ether (ETH) fell to a six-week low on Tuesday, with traders in the options market betting on price weakness over the next six months. The second-largest cryptocurrency by market value fell to $1,815 during Asian hours, reaching the lowest […]
