FANG index of tech stocks tumbles into correction territory, down 10% from June record
The market’s favorite technology stocks are tanking as investors growing concerned over the companies’ ambitious growth targets following disappointing financial results from Facebook and Netflix this month. The NYSE FANG+ index is down more than 10 percent from its high...
More than 60% of tech workers feel they’re underpaid
Tech workers are the envy of labor market — they earn some of the highest starting salaries and often command top-notch benefits. But money doesn’t always buy satisfaction. Entrepreneur reports that tech workers in major American cities earn an average...
Global auto powers plotting response to Trump auto tariff threats
Canada, the European Union, Japan, Mexico and South Korea will meet in Geneva next week to discuss how to respond to threats by U.S. President Donald Trump to impose tariffs on U.S. imports of autos and car parts, officials familiar...
It’s in China’s interest to reconsider its trade surplus with the US
Washington’s apparent shift of emphasis from its unassailable trade argument to an uncertain legal battle about China’s foreign trade policies and practices looks like an own goal. Upon reflection, Washington could soon recover. Some own goals during the recent World...
Charts show why oil is poised to stand ‘head and shoulders’ above the market, says BofA technician
Investors may want to consider unloading bonds in favor of crude oil. According to Bank of America-Merrill Lynch’s Paul Ciana, there are two particular charts that point to an oil breakout that could garner solid returns over the next 6...
Treasury Department data shows Russia is offloading its US debt holdings at breakneck speed
The Russian government, previously considered a “major” holder of U.S. debt, has been steadily — and sharply — paring down the vast majority of its holdings of U.S. Treasury securities. Russian holdings of Treasury securities declined 84 percent between March...
Russia has been offloading its US debt holdings at breakneck speed — but here’s what’s behind it
The Russian government, previously considered a significant holder of U.S. debt, has been steadily — and sharply — paring down the vast majority of its holdings of U.S. Treasury securities. Russian holdings of Treasury securities declined 84 percent between March...
Esports video gaming finals meet in real life this weekend in New York
The Overwatch League competes in real life, and in real time, for the Grand Finals this weekend in New York. “Tonight we’re going to be live for the first time,” Nate Nanzer, commissioner of the esports league for the video...
Ellie Mae’s closed loan applications increase despite housing shortage
Ellie Mae reported an increased number of closed loans on its Encompass platform despite ongoing shortages in the housing market. With 721,000 loan applications closed during the second quarter that’s an increase of 6 percent year over year. “What we...
The market finally may be ready for a big rotation
All year, two groups felt kind of bulletproof: FAANG names because the growth was so amazing, and small caps (Russell 2000) because the economy was so strong and they would do well even if there was a tariff war. But...
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