Markets Insider News

Buffett's company boosted its bets on Activision Blizzard and Paramount, but trimmed its wagers on General Motors and Kroger.

Disney was among Monday's winners on the Dow after hedge fund manager Dan Loeb bought a new stake in the entertainment heavyweight.

"The technical conditions of this market appear ripe for the start of a new bull market rather than a retest," LPL's Jeffrey Buchbinder said.

The Inflation Reduction Act to be signed by President Biden includes a 1% tax on share buybacks and a new minimum 15% corporate tax.

Since May, Russia's unauthorized imports have totaled $6.5 billion, according to Deputy Prime Minister Denis Manturov.

Rate cuts wont come as soon as investors think, and the Fed still has a long way to go before reaching its 2% inflation target.

"We think that the tactical rebound in growth style has some more legs, as bond yields are likely to stay stuck," JPMorgan's Mislav Matejka said.

India and China have been big importers of Russian crude. Data from Bloomberg shows that flows to Asia have hit the lowest level since the invasion.

Morgan Stanley said inflation likely has not eased fast enough to justify the sustained Fed pause that markets have already priced in.

The Scion Asset Management boss slashed his stock portfolio from 11 holdings to just one, cutting its value from $165 million to $3.3 million.

"Believe it or not, the S&P 500 (SPX) usually rallies during periods of rising inflation," Bank of America said.

About 1-in-5 homebuilders reported reducing prices to boost sales or limit cancellations, according to the NAHB/Wells Fargo survey.

S&P 500 earnings growth has "ground to a halt" when you exclude energy and financial sectors, down from 4% annualized growth just last quarter.

Germany may have to rely on European gas supplies this winter ahead of winter, Klaus Müller, head of the federal network agency told the FT.

China's central bank cut two interest rates, going against the global current, after the country's factories and retail sales slowed in July.

"The bad news is that high inflation is broad-based, measures of the underlying trend are elevated, and business inflation expectations remain high."

The ruble dropped as much as 1.5% against the US dollar, while also pulling back roughly 0.2% against the euro.

Bed Bath & Beyond has been the most talked about stock on Wall Street Bets for the past seven days, according to Quiver Quantitative.

The S&P 500 and the Nasdaq Composite were losing ground Monday after each extended a weekly win streak.

At least six Wall Street banks are cautiously trading in Russian bonds after the Treasury temporarily rolled back a block that left $2.5 billion of CDS insurance payouts stranded.

Gold dropped after four consecutive positive weeks as China's economy shows signs of a prolonged downturn.

The refinery in Schwedt is partly owned by state-run energy giant Rosneft and has long relied on Russian crude from the Druzhba pipeline.