The SEC says never invest in a SPAC based solely on a celebrity’s involvement
The headquarters of the US Securities and Exchange Commission (SEC) is seen in Washington, DC, January 28, 2021. Saul Loeb | AFP | Getty Images The Securities and Exchange Commission on Wednesday issued a warning against special purpose acquisition companies...
Mortgage refinance demand plunges 43% from a year ago, as higher interest rates take their toll on borrowers
A house’s real estate for sale sign is seen in front of a home in Arlington, Virginia, November 19, 2020. Saul Loeb | AFP | Getty Images The recent sharp rise in interest rates is now taking a toll on...
Market bull Jeremy Siegel warns the Nasdaq rebound will unravel, favors value stocks
The Nasdaq rebound may last shorter than a New York minute. Wharton School finance professor Jeremy Siegel sees near-term trouble, saying the backdrop is dramatically supporting the reopening trade over Big Tech and growth plays. “I’ve been extremely bullish here...
‘Significant long-term scarring’ in services will limit pent-up consumer demand and suppress inflation, economist Stephen Roach predicts
Economist Stephen Roach said Monday he believes Wall Street is overestimating a consumer comeback. According to the Yale University senior fellow, demand will snap back like a rubber band later this year as the V-shaped recovery loses momentum. “With vaccines rushing...
Stocks making the biggest moves midday: Apollo, GE, GameStop and more
Here are the stocks making headlines in midday trading. Apollo Global Management – Shares of the private equity firm gave back earlier gains and declined more than 4% after the company announced that it will merge with Athene Holding in...
Goldman Sachs forecasts a jobs boom, says unemployment rate could fall to 4.1% by the end of 2021
Unemployment could fall this year to close to where it was prior to the Covid-19 pandemic, according to a Goldman Sachs forecast that sees a hiring boom ahead. The firm projects an unemployment rate of 4.1% that could be even...
Dow futures rise more than 100 points after Senate passes $1.9 trillion Covid relief bill
Traders work on the floor of the New York Stock Exchange. NYSE Dow futures rose on Sunday evening as a new stimulus package from Washington headed toward final passage this week. Futures contracts tied to the Dow Jones Industrial Average...
Investors haven’t fully grasped inflation is ‘dead ahead,’ economist Mark Zandi warns
Investors may want to hold on even tighter. Moody’s Analytics Mark Zandi believes Wall Street is significantly underestimating the seriousness of an inflation comeback, and he warns it will affect every corner of the market — from big tech to...
Chinese foreign minister takes firm tone, calls for ‘non-interference’ between China and the U.S.
The flags of China, U.S. and the Chinese Communist Party are displayed in a flag stall at the Yiwu Wholesale Market in Yiwu, Zhejiang province, China, May 10, 2019. Aly Song | Reuters BEIJING — Chinese Foreign Minister Wang Yi...
Unemployment benefits end next week. It may be too late for Congress to stop it, experts say
Alex Wong | Getty Images News | Getty Images The Senate passed a $1.9 trillion coronavirus relief bill on Saturday that extends and raises unemployment benefits. Democrats will now look to get that pandemic aid bill to President Joe Biden...