US manufacturing output rises, while past months were revised lower
U.S. factory output rose in April, although new estimates of manufacturing and overall industrial production showed less growth in prior months than initially believed, casting a shadow over the economic outlook. Manufacturing output rose 0.5 percent last month, the U.S....
Hedge fund billionaire David Tepper reaches deal to buy the Carolina Panthers
Billionaire hedge fund manager David Tepper has reached a deal to buy the Carolina Panthers, the National Football League team announced Wednesday. The deal, which has been reported to be worth a league-record $2.2 billion, is subject to NFL approval...
US home building tumbled in April, while permits fell
U.S. building of houses tumbled in April and permits fell, suggesting the housing market continued to tread water amid shortages of land and skilled labor. Housing starts dropped 3.7 percent to a seasonally adjusted annual rate of 1.287 million units...
At top of the Fed, a dispute on policy picks up steam
Federal Reserve Chair Jerome Powell’s top deputies are edging toward a clash that could shape the pace of interest-rate hikes in coming months, as well as how the Fed should prepare for and combat the next economic downturn. The fault...
Weekly mortgage applications fall 2.7% even before rates spike
Borrowers may have missed an opportunity to get the last of the low rates, as it now appears interest rates are moving decidedly higher. Mortgage application volume fell 2.7 percent last week, according to the Mortgage Bankers Association’s seasonally adjusted...
Ukraine is about to make another crucial step toward Europe
This Thursday, the Verkhovna Rada (the parliament of Ukraine) is expected to consider a historic proposal to replace 25-year-old foreign exchange legislation with an entirely new law that will open our country to international investors and make it easier for...
Why ‘Bitcoin Jesus’ is so bullish about Bitcoin cash
Cryptocurrency users and developers around the world are adopting bitcoin cash at faster rates than bitcoin core, Roger Ver, one of the first investors of bitcoin, told CNBC. Bitcoin cash, a bitcoin offshoot, split off from bitcoin last year after...
The behavior of the Australian dollar is a contradiction
Market contradictions can be interesting, but irrelevant, or interesting and significant. The behavior of the Australian dollar is one of those contradictions.
Hedge fund manager Stanley Druckenmiller bets big on chip stocks
Stanley Druckenmiller made big bets on semiconductor stocks during the first quarter, according to a regulatory filing released Tuesday. Duquesne Capital initiated positions in Intel, Micron Technology and Qualcomm. The fund bought 2.46 million shares of Intel, 2.19 million shares...
Amazon’s US sales to match Walmart’s within three years, JP Morgan predicts
Amazon’s e-commerce empire is on track to match Walmart sales domestically within the next two to three years, according to J.P. Morgan. According to the bank’s analysis, Amazon’s U.S. gross merchandise volume (GMV) — a key industry metric measuring total...
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