Monthly Archives: April 2023
Fed expects banking crisis to cause a recession this year, minutes show
(CNBC) Fallout from the U.S. banking crisis is likely to tilt the economy into recession later this year, according to Federal Reserve documents released Wednesday. Minutes from the March meeting of the Federal Open Market Committee included a presentation from […]
ChatGPT may be able to predict stock movements, finance professor shows
(CNBC) Alejandro Lopez-Lira, a finance professor at the University of Florida, says that large language models may be useful when forecasting stock prices. He used ChatGPT to parse news headlines for whether they’re good or bad for a stock, and […]
Warren Buffett says we’re not through with bank failures
(CNBC) Investing legend Warren Buffett believes there could be more bank failures down the road, but depositors should not ever be worried. “We’re not over bank failures, but depositors haven’t had a crisis.” “Banks go bust. But depositors aren’t going […]
Alibaba shares tumble after SoftBank reportedly sells most of its stake
(CNBC) Alibaba shares dropped nearly 3% in after-hours trading after regulatory files revealed that SoftBank has sold a majority of its stake in the company. SoftBank has sold roughly $7.2 billion worth of shares in the Chinese ecommerce giant via […]
JPMorgan wealth CEO Erdoes says bank knew of Epstein sex accusations in 2006, USVI alleges
(CNBC) JPMorgan Chase was aware in 2006 of accusations that disgraced former financier Jeffrey Epstein paid to have underaged girls brought to his home, according to the latest allegations in a high-profile legal case. A filing released Wednesday as part […]
Apple reportedly nixes iPhone 15 button upgrade, sending supplier stock down 12%
(CNBC) Apple supplier Cirrus Logic’s shares fell about 12% early afternoon Wednesday after a report from analyst Ming-Chi Kuo said the upcoming iPhone 15 Pro won’t use Cirrus’ haptic touch technology as heavily as initially expected. Cirrus’ technology and parts […]
CFTC Charges New York Resident with Fraud and Misappropriation in Digital Assets Trading Scheme
(HedgeCo.Net) The Commodity Futures Trading Commission has filed a civil enforcement action in the U.S. District Court for the Eastern District of New York against New York resident Rashawn Russell. The CFTC’s complaint charges Russell with fraudulently soliciting retail investors […]
Stock futures are flat ahead of key March inflation data: Live updates
(CNBC) Stock futures were flat in overnight trading Tuesday as investors turned their focus to March’s highly anticipated inflation report. Futures tied to the Dow Jones Industrial Average traded flat, while S&P 500 and Nasdaq 100 futures inched 0.04% and […]
Wall Street is wrong: Former Pimco chief economist Paul McCulley predicts rate hikes will end next month
(CNBC) Wall Street is wrong about the Federal Reserve’s interest rate path, according to former Pimco chief economist Paul McCulley. Barring a surprise jump in inflation, he believes mounting economic pressures will convince the Fed to stop hiking rates next […]
Billionaire activist Paul Singer warns of “dangerous” period
(Hedgeweek) Paul Singer, the hedge fund billionaire and head of activist firm Elliott Management, believes a credit collapse and deep recession may be needed to restore financial markets, according to an interview in The Wall Street Journal. To read this […]
Bank turmoil batters trend-following strategies
Hedgeweek) CTAs and trend-following funds tanked following March’s upheaval in financial stocks, while other hedge fund strategies such as equity long/short, macro and event driven struggled to generate meaningful returns, according to Bloomberg data. To read this article:
Hedge funds ramp up US equity short positions
(Hedgeweek) Hedge funds are rebuilding their short positions in US equities amid worsening economic data and corporate earnings, according to a report by Bloomberg. To read this article:
