A risky natural gas bet gone awry leads to weepy YouTube confessional video
Volatile commodity markets often lead to colossal failures, as the founder of a Tampa, Florida-based options firm acknowledged in a bizarre, 10-minute YouTube confession in recent days. In the video, a money manager named James Cordier tells his 290 clients...
Trade tariffs, higher interest rates are slowing global economic growth, OECD says
Amid prolonged trade disputes and rising interest rates, the global economy will continue to slow down next year, according to the latest forecasts from the Organization for Economic Cooperation and Development. But the Paris-based group doesn’t see a recession on...
Consumer sentiment slides in November as Americans expect less future income
Consumer sentiment for November fell more than anticipated in the final reading of the month, although the index remained near record highs. The University of Michigan’s monthly survey of consumers slipped to 97.5 in final November reading, more than the...
Dick Bove: The Fed is too tight and must reverse policy because this economy can’t handle it
The equity markets are under stress. By some measures stock prices today are lower than they were at the beginning of the year. To me, the reason for this is relatively clear. The financial system in the United States is...
FX: Blockchain seen as the solution to enhanced post-trade efficiency
Few market participants would deny that most of the investment in electronic FX trading has been about winning the trade rather than settling it. Money has been spent on improving the post-trade element of the life cycle, acknowledges Frederic Ponzo,...
US weekly jobless claims rise to a more than 4-month high
The number of Americans filing applications for jobless benefits rose to more than a four-month high last week, but the underlying trend remained consistent with a tightening labor market. Initial claims for state unemployment benefits increased 3,000 to a seasonally...
US durable goods orders fall 4.4% in October
Orders to U.S. factories for big-ticket manufactured goods fell by the largest amount in 15 months with a key category that tracks business investment showing weakness for a third straight month. The Commerce Department said Wednesday that orders for durable...
‘I’m a stubborn bull,’ Blackstone’s Joe Zidle sees Santa Claus rally rising from market wreckage
One of Wall Street’s biggest bulls predicts a sharp Santa Claus rally will revive the stock market, which has erased its gains for the year. According to Blackstone investment strategist Joe Zidle, a sentiment problem is behind the latest downturn...
Goldman Sachs: Market plunge does not indicate a recession on the horizon
The U.S. economy will not head into a recession in the next two years despite fears in the market that one may be on the horizon, Goldman Sachs’ Peter Oppenheimer told CNBC on Wednesday. Oppenheimer, chief global equity strategist at...
Goldman Sachs downgraded by Morgan Stanley until Malaysian 1MDB scandal is ‘resolved’
Goldman Sachs’s stock won’t see meaningful gains until the Malaysian government investment fund scandal is resolved, according to Morgan Stanley, which downgraded its rival investment bank on Wednesday. “It is unclear how long the issue will take to resolve, what...
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