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“Wall Street’s favorite recession indicator is flashing red” A closely watched recession predictor in the bond market just flashed red, spurring fresh concern that the US economy is on track for a downturn this year as a result of the Federal Reserve’s war on inflation. The spread between the 2-year and 10-year Treasury yields inverted this week…
“Netflix shares slide after Goldman Sachs’ streaming downgrade” Netflix shares fell 5% on Friday after Goldman Sachs downgraded the streaming pioneer over risks of slower consumer spending and tough competition from Amazon and Walt Disney. In April, Netflix lost subscribers for the first time in more than a decade, signaling trouble ahead for the industry as rising prices of…
“Dow plunges more than 600 points as rate pressures grow” Stocks on Wall Street tumbled Thursday following the latest reminder that central banks now care more about fighting inflation than propping up markets. The S&P 500 sank 2.4%, putting it on track for its ninth losing week in the last 10. The Dow Jones Industrial…
“SEC’s Gary Gensler unveils plan to overhaul stock trading” The Securities and Exchange Commission’s top boss unveiled a plan on Wednesday that he said would make sure retail traders — including those behind last year’s “meme stock” mania — get a fair deal. The proposed changes put the SEC on a potential collision course with…
“Dow ends week on losing note despite strong US jobs report” Wall Street’s main index ended the week on a losing note as concerns about inflation and rising interest rates outweighed the strong jobs report released earlier on Friday by the federal government. The Dow Jones Industrial Average plummeted 348.58 points, or 1%, to 32,899.70,…
“Redditors rip SEC over video targeting ‘meme stock’ investors” The SEC’s attempt to inform the public about the potential pitfalls of investing in so-called “meme stocks” infuriated some Redditors this week – with users on “WallStreetBets” and other boards grumbling that the agency was hypocritical and out of touch. The SEC’s 30-second video titled “Meme…
“Goldman Sachs CEO David Solomon DJs at BottleRock Napa Valley” On Wall Street, David Solomon is known as the ruthless, take-no-prisoners chief executive at global banking giant Goldman Sachs. But revelers at the BottleRock Napa Valley known him as DJ D Sol, the hip record-spinner who spun tunes at the popular music festival on Sunday….
“Instacart slows hiring across the company amid tech downturn” Instacart told employees Thursday that it’s slowing hiring across the entire company as the grocery delivery giant looks to weather an increasingly brutal tech downturn, The Post has learned. The news comes two months after Instacart slashed its valuation from $39 billion to $24 billion and…
“Chipmaker Broadcom to buy VMware in $61 billon deal” Computer chip and software maker Broadcom will spend about $61 billion to acquire the cloud technology company VMware, one of the biggest deals of the year despite an environment of rising inflation and economic uncertainty. The proposed deal comes just weeks after billionaire and Tesla CEO…
“Elon Musk pledges more equity to fund Twitter deal” Elon Musk on Wednesday pledged an additional $6.25 billion in equity financing to fund the $44 billion offer for Twitter, reducing the billionaire’s margin loan against his Tesla shares to zero. The disclosure made in a regulatory filing on Wednesday signaled Musk is working to complete the deal even though he had last week linked its…