Elon Musk Jim Watson | AFP | Getty Images Tesla shares slid more than 6% during premarket trading on Thursday, building on the stock’s recent losses after the company’s largest outside shareholder reduced its position, and after the auto maker said it would raise up to $5 billion in a new stock offering. The stock
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You knew this was coming. The market internals had been flashing warning signs for a couple weeks: very few new highs, very sloppy advance/decline line, low short interest, and a lot of talk about FOMO (Fear of Missing Out) and TINA (There Is No Alternative). All signs of frothiness. So what is this? Is this
A pedestrian outside the New York Stock Exchange in New York, July 29, 2020. Wang Ying | Xinhua News Agency | Getty Images The tech wreck is probably not over, despite Friday’s market comeback. Analysts expect the shakeout in stocks to continue after the long Labor Day weekend, especially in technology names and the Nasdaq,
Corporate offices have become far more fluid in recent years, and that flexibility will be a key … [+] component of the next generation of WFH furniture. Teknion Is it befuddlement you seek? You’ll be well on your way to reaching that state if you try to gain clarity by poring over countless surveys, studies
Scott Mlyn | CNBC After holding flat for a couple of weeks, the number of borrowers in public and private coronavirus-related mortgage bailout programs saw a much bigger improvement than expected. Most still in getting aide, however, have extended their terms, suggesting they are still unable to get current on their home loans. The number
Vanguard Wellesley Income Fund celebrated its 50th birthday in July. A mutual fund being in business that long has become about as rare as couples reaching their 50th wedding anniversary, and so the fund’s longevity is noteworthy in its own right. But, by analyzing this mutual fund’s performance, we can draw important investment lessons for
Thomas Johnsen, 67, a retired California municipal advisor and former National Association of Municipal Advisors board member, died Tuesday. Johnsen had battled cancer off and on for 10 years, but succumbed to sepsis, an infection that attacks the immune system. He retired in 2018 after nearly 31 years with Irvine-based Fieldman, Rolapp & Associates. He
Sushiswap, a fork of the popular Uniswap exchange and one of the latest breakouts of the DeFi craze, has undergone its fair share of scrutiny in recent days. The platform’s token, known as Sushi, quickly came to represent 77% of the action on Uniswap as of Sept. 1, garnering more than $1.5 billion in locked value
SoftBank is the “Nasdaq whale” that has bought billions of dollars’ worth of US equity derivatives in a move that stoked the fevered rally in big tech stocks before a sharp pullback on Thursday, according to people familiar with the matter. The Japanese conglomerate has been snapping up options in tech stocks during the past
Inflows into municipal bond mutual funds slowed to the lowest level since last July, with Refinitiv Lipper data showing investors put $139.364 million into the funds in the latest reporting week. Muni funds have been on a winning streak since May 13, with most week’s seeing over $1 billion of cash flowing into the funds.
Chinese shares tumbled and US stock futures slid further after the record rally in global equities this year was thrown into sharp reverse by a sell-off of tech stocks. China’s CSI 300 index of Shanghai- and Shenzhen-listed stocks dropped 1.2 per cent, while Japan’s benchmark Topix fell 1 per cent and Australia’s S&P/ASX 200 shed
SpaceX deploys 60 Starlink satellites in orbit. SpaceX SpaceX gave an update on early tests of its Starlink satellite internet network, which showed speeds capable of playing online video games and streaming movies. Starlink is the ambitious plan by Elon Musk’s company to build an interconnected network of about 12,000 small satellites in low Earth orbit.
A stock trader wearing a mask walks near social distancing signs the day a new IPO is launched at the New York Stock Exchange as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on August 27, 2020 in New York City. The fourth phase allows outdoor arts
Angel Navarrete | Bloomberg | Getty Images Check out the companies making headlines after hours on Thursday: Broadcom — Shares of the semiconductor builder rose 1% in after-hours trading on the back of better-than-expected results for the previous quarter. Broadcom posted a profit of $5.40 per share on revenue of $5.82 billion. Analysts polled by
A ban on evictions is meeting resistance from rental housing providers. getty An eviction moratorium issued Tuesday by the Centers for Disease Control and Prevention is drawing a chorus of disapproval from multifamily housing advocates who say the action is overly burdensome and interferes with their own obligations to provide safe, affordable housing. The moratorium
Late Tuesday, as temporary, coronavirus-related eviction protections in several states had expired, the Trump administration announced a somewhat creative plan to stop most rental evictions through the end of the year. The White House issued an order through the Centers for Disease Control and Prevention that declared evictions during a pandemic are a national health
Advances in cryptography have not met with user enthusiasm, suggesting a disconnect between the cryptocurrency community and its cypherpunk ancestors. According to Coin Metrics, transactions of privacy-focused cryptocurrencies zcash (ZEC), monero (XMR), and grin only add up to 6% of bitcoin’s transactions. Zcash’s privacy feature is significantly underutilized, with less than 2% of transactions fully
Economic activity will likely remain suppressed, especially while Americans are waiting for more and sufficient support fiscally, according to president of the Federal Reserve Bank of Chicago Charles Evans. “More adequate, fiscal relief is needed for us to get through this and it could be late 2022 before we reach pre-pandemic economic levels,” he said
A sharp sell-off among the world’s largest technology shares sent the US stock market tumbling on Thursday, marking an abrupt change of course for companies that had driven the rally to record highs in recent days. Apple shares were down more than 6 per cent in mid-morning trading in New York, while Amazon, Alphabet and
New Jersey local governments gain new bonding capabilities to offset COVID-19-related revenue losses after Gov. Phil Murphy signed a revised municipal borrowing bill that addressed his previous debt concerns when he vetoed an earlier version of the measure. Murphy signed the legislation Monday three weeks after issuing a conditional veto noting opposition to the proposed
As you can see in the following chart, the ProShares Short VIX Short-Term Futures ETF (SVXY) has taken a hit over the past week due to a noticeable uptick in volatility. It is my view that in the coming days we will see SVXY continue lower. However, while I am short-term bearish on SVXY, I
The euro’s rise is worrying top policymakers at the European Central Bank, who warn that if the currency keeps appreciating it will weigh on exports, drag down prices and intensify pressure for more monetary stimulus. Several members of the ECB’s governing council told the Financial Times that the euro’s rise against the US dollar and
Elon Musk, co-founder and chief executive officer of Tesla Motors. Yuriko Nakao | Bloomberg | Getty Images Baillie Gifford, Tesla’s largest outside shareholder, has reduced its position in the electric auto maker after the company’s rapid share appreciation made it an outsized influence on the firm’s holdings. A filing with the Securities and Exchange Commission
People walk past the Calvin Klein store at the Woodbury Common Premium Outlets Mall on October 21, 2017 in Central Valley, NY. Gary Hershorn | Getty Images Check out the companies making headlines after the bell: Five Below — Five Below shares rallied after the close of the regular session Wednesday evening after it said sales
Transcendentalist author Henry David Thoreau once wrote in his classic book Walden, “We need the tonic of wildness.” In this book from 1854, Thoreau wrote about his life in the woods in Massachusetts, which focused on simple living in nature and privacy. His serene way of life surrounded by nature served as inspiration for Walden
Rendering of Maude Park, Middlefield Park Source: Google Whoever thought the coronavirus pandemic would drastically change tech companies’ real estate plans in Silicon Valley, hasn’t met Google. The Alphabet company has proposed a new tech campus in its historic home city of Mountain View, with plans to remodel 40 acres into a mixed-use center that
Bitcoin saw a strong crash on Wednesday after another attempt at breaking past and holding $12,000. The leading cryptocurrency dropped as low as $11,200 as sellers flooded the market. Some say it was news that the office of Bithumb, a leading exchange in South Korea, was raided that crashed the market. BTC has yet to
Florida upsized its taxable bond sale by $1 billion and came to market Wednesday with a $3.5 billion deal that will help bolster the state’s Hurricane Catastrophe Fund. California’s $2.5 billion general obligation bond deal was also priced in the primary giving buyers a wide variety of paper to choose from. “You cannot deny that
SushiSwap, an upcoming DeFi protocol forked from Uniswap’s decentralized exchange, has grabbed numerous headlines in recent days. One such story pointed out that the project’s pseudonymous head, known only as Chef Nomi, maintains access to $27 million in Sushi tokens. Cointelegraph reached out to SushiSwap’s founder for further clarification in an attempt to ensure fair
The German government has said Alexei Navalny, the Russian opposition activist who is being treated in a Berlin hospital after collapsing in Siberia last month, was poisoned by the chemical nerve agent novichok. In a statement, the government said it “strongly condemned” the poisoning and demanded the Kremlin provide an explanation “as a matter of