The world’s biggest hedge fund is reportedly ‘bearish on financial assets’
The world’s largest hedge fund has made the astonishing claim that it’s bearish on almost all financial asset classes, according to the website ZeroHedge. The finance blog highlighted a conclusion from Bridgewater Associate’s latest “Daily Observation” note Tuesday, authored by...
Weekly mortgage applications rise 4.1% as rates hit lowest levels in 6 weeks
It took a few weeks, but borrowers finally took notice of a drop in mortgage interest rates. After falling for a month, mortgage application volume jumped 4.1 percent last week from the previous week, according to the Mortgage Bankers Association’s...
India’s central bank raises rates for the first time in more than four years
India’s central bank on Wednesday raised its policy rate for the first time in more than four years, due to inflation concerns, but kept its policy stance as “neutral”. The monetary policy committee lifted the repo rate by 25 basis...
An old Alcoa plant in Upstate New York is going to be converted into one of the world’s largest bitcoin mining centers
Despite bitcoin’s price decline this year, a cryptocurrency “mining” company is moving ahead with plans to repurpose a 1,300 acre plot once used by Alcoa for aluminum smelting. Coinmint said Tuesday it would invest up to $700 million in the...
After-hours buzz: NCS, AMBA & more
Check out the companies making headlines after the bell: Shares of NCI Building Systems jumped more than 9 percent in after-hours trading. The metal product manufacturer reported second quarter financial results that pleased investors, as well as issuing strong third...
Cruise ship stocks are the worst performers in S&P 500 after Morgan Stanley predicts weak demand
Shares of the major cruise-line companies fell broadly on Tuesday after an analyst at Morgan Stanley said he expect the space to get hit by weak travel demand. Carnival, Royal Caribbean Cruises and Norwegian Cruise Line all dropped more than...
There are more jobs than people out of work, something the American economy has never experienced before
The jobs market has reached what should be some kind of inflection point: There are now more openings than there are workers. April marked the second month in a row this historic event has occurred, and the gap is growing....
Cryptocurrency exchange Bitfinex briefly halts trading after cyber attack
One of the world’s largest digital currency exchanges shut down briefly Tuesday morning due to a cyber attack. Bitfinex was targeted in what’s known as a DDoS, or a distributed denial-of-service attack, which overwhelms a system with multiple virus-infected servers....
ISM non-manufacturing index grows in May, expanding for the 100th month
Growth in U.S. non-manufacturing increased in May, reaching a 100-month streak of overall expansion. The Institute of Supply Management’s measure of the non-manufacturing sector grew to 58.6 from 56.8 in April, beating a forecast of 57.6 by a survey of...
Howard Schultz: The $21 trillion national debt is the ‘greatest threat domestically to the country’
Howard Schultz, Starbucks’ outgoing executive chairman, on Tuesday singled out the national debt as the biggest domestic threat to the U.S. in a critique that spared neither Democrats nor the Trump administration’s economic policies. Schultz, a past critic of President...
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