Monthly Archives: February 2022
Consumer debt totals $15.6 trillion in 2021, a record-breaking increase
(CNBC) Consumers ended 2021 with record levels of debt, leading into a year in which interest rates are expected to rise substantially. Total U.S. consumer debt at the end of the year came to $15.6 trillion, a year-over-year jump of […]
Stock futures gain slightly with more big earnings ahead
(CNBC) U.S. stock futures rose slightly in overnight trading on Tuesday as investors prepare for another round of corporate earnings. Dow futures rose about 70 points. S&P 500 futures gained 0.25% and Nasdaq 100 futures rose 0.27%. Chipotle rose more […]
Florida-Based Entities and Individuals Charged with Multi-Million Dollar Futures and Forex Fraud
(HedgeCo.Net) The Commodity Futures Trading Commission has announced that it has filed a civil enforcement action in the U.S. District Court for the Southern District of Florida against The W Trade Group LLC, Larry Ramos Mendoza of Miami, Florida, and Joseph Carvajales also of Miami, […]
Peter Thiel to step down from board of Facebook parent Meta
(CNBC) Billionaire tech investor and PayPal Co-founder Peter Thiel will step down from the board of Facebook owner Meta, the company announced Monday. Thiel, an early Facebook investor and close confidante of CEO Mark Zuckerberg, will not stand for re-election […]
Amazon boosts max base pay for corporate workers to $350,000 as labor market heats up
(CNBC) Amazon is boosting its maximum base salary for corporate workers, citing the competitive labor market as one of several factors behind the change. The company said Monday in an internal memo to employees that it will now cap base […]
Bitcoin rises to its highest level in a month, bouncing from January lows
(CNBC) The price of bitcoin climbed more than 6% on Monday, hitting its highest level in a month. Bitcoin rose to as much as $44,500, according to Coin Metrics, its highest level since Jan. 5. Back then, it hit a […]
Seven hikes? Fast-rising wages could cause the Fed to raise interest rates even higher this year
(CNBC) Too much of a good thing, in the form of rapidly rising wages, is expected to push Federal Reserve interest rate hikes at an even faster pace. Average hourly earnings jumped 0.7% in January and are now running at […]
Macro hedge funds emerge as the standout winners in January:
(Opalesque) In the week ending February 4th 2022, a report stated that finally, when the going got tough, macro managers showed up in January – emerging as the standout winners in a month beset by turbulence across both Treasury and […]
SEC Obtains Final Judgment Against Defendants in Stock Research Scheme
(HedgeCo.Net) The U.S. District Court for the Southern District of New York entered a final judgment against defendants Ajay Tandon and Amit Tandon for their involvement in a stock research scheme and for illegal “scalping” in connection with that scheme. […]
Frontier and Spirit to merge creating fifth-largest airline in U.S. in $6.6 billion deal
(CNBC) Frontier Airlines and Spirit Airlines, the two largest low-cost carriers in the U.S. have agreed to merge in a deal valued at $6.6 billion, creating what would become the fifth-largest airline in the country. The merger gives Denver-based Frontier […]
SoftBank-backed fintech DriveWealth is adding crypto to take on Coinbase’s ‘unsustainable’ fees
(CNBC) DriveWealth, the SoftBank-backed start-up that helps fintech firms including Revolut offer stocks, is getting into cryptocurrency trading, CNBC has learned. The New Jersey based start-up, valued at $2.85 billion in a recent fundraising, is acquiring a crypto firm founded […]
Fresh inflation data could fuel further market volatility in the week ahead
(CNBC) After January’s surprisingly strong jobs report, focus swings to consumer inflation in the week ahead and what it could mean for the Federal Reserve’s plan to raise interest rates. Friday’s report of 467,000 jobs added in January confounded Wall […]
