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George Glover
Americans are feeling worse about the economy, with confidence diving to a 4-month low
US consumer confidence fell to a four-month low in September, with people fretting about elevated inflation and higher interest rates.
George Glover
Tech stocks have plunged from their 2023 highs, after starting the year on a tear
Investors are fretting once again about the Federal Reserve, after the central bank signaled it'll keep interest rates high to crush inflation.
George Glover
The dollar jumps to a fresh high for 2023 as investors bet the Fed's inflation fight is nowhere near over
Traders' belief that the central bank will have to hold rates at a higher level for longer has powered the buck to 10 straight weeks of gains.
Filip De Mott
CHART OF THE DAY: The S&P 500's top 7 stocks have soared more than 50% in 2023, while everything else is 'basically flat'
"If you buy the S&P 500 today, you are basically buying a handful of companies that make up 34% of the index," Torsten Sløk wrote.
George Glover
The Fed will definitely be done tightening if there's a government shutdown, top Morgan Stanley economist says
The central bank could call time on its war on inflation if a government shutdown robs it of key economic data, Ellen Zentner said.
Anagh Pal
Dabur’s Burman family makes open offer to acquire stake in Religare Enterprises
Entities associated with the Burman family, which has a controlling stake in FMCG major Dabur, have announced an open offer, aimed at acquiring a potential stake of up to 26% of the expanded voting share capital of Religare Enterprises Limited (REL).The objective behind this move is to increase the Burman family's current equity interest in REL, ultimately allowing them to assume control of the company
Matthew Fox
The disruptive effect of weight loss drugs like Ozempic could have surprising impacts on the stock market. Here are potential winners and losers.
"When you go on GLP-1, you eat significantly less and you feel fuller. So you lose the weight," Baird analyst Jeff Johnson told Insider.
Hasan Chowdhury
Saudi Arabia and the UAE are battling to become the Middle East's economic superpower
The rivalry between Saudi Arabia and the United Arab Emirates has deep roots, and the relationship is more fraught than ever as they prepare for a post-oil future.
Phil Rosen
Crypto is growing up: Goodbye yacht parties and NFTs, hello regulation and practical tech
Three days at a New York crypto conference showed just how much a bear market can force an industry to change its ways.
Polly Thompson
So many people want to attend a Middle East investment conference dubbed 'Davos in the desert' that they're charging $15,000 to get in the door
About 5,000 delegates are expected to attend the seventh Future Investment Initiative being held in Riyadh in October, The Wall Street Journal reported.
Jacob Zinkula,Andy Kiersz
You may hate high interest rates and home prices, but many boomers have reason to celebrate
High home prices and interest rates are creating headaches for young Americans. But they're helping many baby boomers retire comfortably.
Theron Mohamed
'Shark Tank' investor Kevin O'Leary likely made over 20 times his money on a startup selling genetic-testing kits for cats
Kevin O'Leary said his biggest "Shark Tank" winner in percentage terms is Basepaws, an animal-health startup acquired for over $50 million last year.
George Glover
Nvidia stock is a bubble waiting to burst – and the AI rush may be a modern version of 17th-century tulip mania, note says
Nvidia shares could soon plunge just like 17th-century tulips and 1990s dot-com companies did, according to Rebellion Research.
George Glover
Billionaire investor Bill Ackman says the Fed's fight against inflation may never end due to strikes and soaring gas prices
A recent flare-up in gas prices has fueled fears the central bank will move to raise interest rates yet again.
Zahra Tayeb
Billionaire investor Bill Gross warns of more pain for bond investors with fixed-income on track for unprecedented 3-year slump
"Bond King" Bill Gross underscored inflation and an increasing national deficit as reasons for his bearishness on fixed-income assets.
Filip De Mott
China's attempts to boost markets and investor confidence have flopped
Key gauges of Chinese stocks have hit their lowest levels in about 10 months.
Phil Rosen
'You made it through winter': Anthony Scaramucci shares 3 reasons why he's still bullish on bitcoin
"Every single Wall Street firm is going to have a bitcoin ETF in their arsenal," the Skybridge Capital founder told attendees at Messari Mainnet.
George Glover
Nvidia's stock price feels the full September effect, suffering a $180 billion wipeout
Nvidia shares have tumbled 10% this month, wiping $176 billion off the semiconductor giant's total market capitalization.
Zahra Tayeb
Billionaire investors Ken Griffin and Bill Ackman meet with Volodymyr Zelenskyy as Ukraine looks to rebuild its economy with private-sector funds
During a meeting Wednesday in New York, Ukrainian President Volodymyr Zelenskyy put forward a proposal to use private-sector money to help rebuild his nation's war-torn economy.
George Glover
China is probing hedge funds that profit from its economic misery, report says
Beijing has put the squeeze on brokerages that use quantitative strategies to short sell the market, Reuters reported.
George Glover
Sticky inflation and weaker earnings mean stock prices aren't going anywhere, Morgan Stanley strategist says
Persistent inflation and soft earnings will keep the market "range-bound", according to Morgan Stanley Wealth Management CIO Lisa Shalett.
Filip De Mott
Capital flight out of China jumps to the fastest pace since 2015 as economy stumbles
The $49 billion capital outflow from China last month was the biggest since a surprise yuan devaluation in 2015.
Phil Rosen
Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.
NFTs had a huge bull run two years ago, with billions of dollars per month in trading volume, but now most have crashed to zero, a study found.
Beatrice Nolan
Hedge fund CEO says staff installed mirrors around the office to stop him from crashing into them while he rode a unicycle
Peter Brown of Renaissance Technologies confirmed the anecdote in a podcast interview and says he no longer rides a unicycle after breaking it in a crash.
George Glover
Oil is heading for $100 a barrel – and that could spoil everything for the Fed
The Federal Reserve is expected to hold interest rates steady on Wednesday, but stress that the war on soaring prices isn't over just yet.
