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Articles related to "fair"

Mysterious traders may have made $3.5 billion off stock bets timed to Trump's trade-war comments, Vanity Fair finds

  • According to the magazine, some traders were suspiciously well-positioned ahead of huge swings in the trade war, either by buying or selling hundreds of thousands of electronically traded futures contracts, called "e-minis" on the S&P 500.
  • The magazine noted that on September 10, a trader or group of traders bought 82,000 e-minis in the last 10 minutes of trading in New York.
  • Markets surged, and the buyer who bought the e-minis made $190 million, Vanity Fair found.
  • He emerged an hour after saying that trade war talks were "back on track." That week, the stock market surged, and whoever made that bet had a profit of $1.8 billion, Vanity Fair calculated.
  • But the following week, Trump lied saying that trade war talks were going well after a phone call with China.
  • Nevertheless, the S&P bounced 80 points and a person who had bought 386,000 e-minis the week before made $1.5 billion, Vanity Fair found.

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