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Articles related to "market"

Stocks finished mixed as the Fed remains divided over further rate cuts

  • Stocks finished mix on Wednesday as the Federal Reserve remained divided over the future path of interest rates.
  • The rate cut was still a welcome sign for investor's that were growing increasingly concerned as to how central banks around the world would respond to mounting signs of slowing growth.
  • The move also comes after the Fed injected a total of $128 billion into financial markets in an effort to keep interest rates from moving higher.
  • The New York Federal Reserve announced on Wednesday that it would pump $75 billion into the market through another overnight repurchase agreement, or repo, in an attempt to keep the federal funds rate within target range.
  • Shares of FedEx fell as much as 14% after the company missed earnings estimates for the fiscal first quarter and slashed its profit forecast for 2020.

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Jamie Dimon Quashes Recession Fears — Here's Why He's Wrong –

  • Despite worries of an impending global recession, Jamie Dimon is still feeling rather positive about the state of the U.S. economy — but his sentiment might be misguided.
  • The rate of people in the United States that are out of work hasn't been this low since Americans landed on the moon and, traditionally, has been a reliable indicator that a recession is in the near future.
  • In simple terms, unemployment rates bottom out in times of peak prosperity and peak during the worst periods of an economic recession — suggesting the U.S. economy may be close to topping out.
  • According to Duke University's CFO Global Business Outlook survey — a well-respected and reliable survey — for Q3 2019, the majority of respondents believe a recession is likely to occur before the 2020 election.

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Dow Mounts Stunning Recovery to Erase Brutal 200-Point Loss –

  • The Dow Jones dropped sharply after the Federal Reserve cut interest rates by 25 basis points to 1.75%, only to mount a stunning recovery in late afternoon trading.
  • The US dollar surged, with Treasury yields hitting the Dow hard as the stock market trembled under the extraordinary situation of three FOMC members dissenting.
  • Shortly before the closing bell, the Dow Jones Industrial Average had erased more than 200 points of losses to advance to a slight gain.
  • The Nasdaq and S&P 500 reported slight losses but tracked closely with the Dow Jones as markets seesawed in response to the profound disunity within the FOMC.
  • Chief Editor: Samburaj Das. Email: [email protected] Editor: Josiah Wilmoth.
  • Email: [email protected] Editor: Sam Bourgi – sam.bourgi (at) ccn.comAssistant Editor: Gerelyn Terzo.
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Read the pitch deck that business travel startup Lola used to secure $37 million in funding

  • Employees then use the custom Lola experience to book work-related trips.
  • The Boston-based company is competing in an increasingly crowded space, but Volpe thinks Lola has another edge over rivals: its deal with American Express Global Business Travel, one of the largest players in the corporate travel market.
  • And through that relationship, Lola gets access to special deals on airfare and hotels that are only available to American Express that it can offer its customers.
  • Corporate travel systems have traditionally been clunky, slow, and difficult to use for both employees and administrators alike, Volpe told Business Insider.
  • Companies can get set up on Lola in less than an hour, according to Volpe, and once they're on the system, their employees can book a trip in minutes.
  • To fully understand Lola’s strategy, Business Insider Prime has published the pitch deck the company used to raise its latest funding round.

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'Bond King' Jeff Gundlach says the Fed may start expanding its balance sheet after injecting $128 billion into markets

  • The Federal Reserve pumped $128 billion into markets in two installments Tuesday and Wednesday to calm a spike in one-day loans backed by Treasury bonds — otherwise known as repurchase agreements.
  • While the repo move isn't an imminent disaster, it's likely the Fed will use the "warning sign" to begin expanding its balance sheet, Jeff Gundlach, chief investment officer of DoubleLine Capital, said during a webcast on Tuesday.
  • Expanding the balance sheet is a way of "baby stepping" into quantitative easing, to "try to free up the plumbing of the banking system," Gundlach said.
  • At the Federal Reserve Open Markets Committee Wednesday, the central bank cut its benchmark rate by 25 basis points, a move largely in line with expectations.
  • The yield-curve inversion — a long-watched indicator that has preceded every US recession since 1950 — is not the most important signal, he said.

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Goldman Sachs' massive quant business now rivals AQR and Two Sigma. We talked to the bank's top quant about asset growth, finding data sources and why critics of computerized trading are wrong.

  • Investment managers are increasingly employing enormous computing power and teams of engineers to make money from alternative data sources like satellite images, credit-card transactions, and information scraped off the web.
  • The group sorts companies by topics in addition to industry or financial metrics; parses language used in written research reports to gauge analyst sentiment; and analyzes options pricing data collected over the years by Goldman's trading desks, to name just three.
  • Goldman's Global Alpha hedge fund, which once managed $12 billion in computer-led strategies, lost 23 percent in August 2007.
  • But turn positive they did: Quant hedge funds managed $979 billion through June, more than double 2008's tally, according to HFR.
  • While the sharpness of the move reminded some of 2007's quant quake, one quantitative hedge fund manager said the industry losses weren't nearly as severe.

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Recession-Blind Federal Reserve Cuts Interest Rates to 1.75% –

  • The Federal Reserve’s recalibration of monetary policy continued Wednesday, as officials voted to lower the benchmark interest rate by 25 basis points.
  • For the second straight meeting, members of the Federal Open Market Committee (FOMC) voted to lower the target for the federal funds rate by 25 basis points, bringing the benchmark to a range of 1.75% and 2%.
  • Like the July meeting, Wednesday’ decision was not unanimous with Boston Fed President Eric Rosengren and Kansas City’s Esther George voting to leave rates on hold.
  • Like the rate cut before it, the repo measure was the first since the gloomy recession era of a decade ago.
  • In other words, the Fed would need to cut rates by 400 basis points for its policies to have any effect on the real economy.

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How Every Fed Member Voted on Today's Interest Rate Cut –

  • As expected, the Federal Reserve voted to reduce its interest rate target to 1.75% to 2.00% at its September policy meeting.
  • Right now, Fed funds futures indicate that traders do not expect a third straight interest rate cut at the next FOMC meeting at the end of October.
  • There are roughly even odds for an interest rate cut in December, and the probability ticks up to 65% for the January 2020 FOMC meeting.
  • This article was edited by Samburaj Das. Josiah is the US Editor at CCN, where he focuses on financial markets and cryptocurrencies.
  • Follow him on Twitter @y3llowb1ackbird or email him directly at josiah.wilmoth(at)
  • Chief Editor: Samburaj Das. Email: [email protected] Editor: Josiah Wilmoth.
  • Email: [email protected] Editor: Sam Bourgi – sam.bourgi (at) ccn.comAssistant Editor: Gerelyn Terzo.
  • Email: [email protected] and Founder: Jonas Borchgrevink.
  • Email: [email protected] and Recruiting: Pamela Meropiali.
  • Email: [email protected]

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Billionaire Mark Cuban: 'There Is No Streaming War' –

  • The problem with Netflix is that it is racking up massive amounts of debt acquiring content or developing shows on its own to keep up in a market it once held a monopoly on.
  • Whether it's a streaming content war or a platform war, one thing is clear: the losers in all of this will be the lesser-known streaming providers (unless they are acquired) in addition to cable and satellite TV providers, unless they jump in on the streaming bandwagon like Comcast and some others have already done.
  • Follower her on Twitter (@cryptogerelyn) or email [email protected]
  • Journalists on CCN Markets follow a strict ethical code that you can find here.
  • Chief Editor: Samburaj Das. Email: [email protected] Editor: Josiah Wilmoth.
  • Email: [email protected] Editor: Sam Bourgi – sam.bourgi (at) ccn.comAssistant Editor: Gerelyn Terzo.
  • Email: [email protected] and Founder: Jonas Borchgrevink.
  • Email: [email protected] and Recruiting: Pamela Meropiali.
  • Email: [email protected] Manager: Pankaj Upadhyay.
  • Email: [email protected]

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Juul’s Valuation Is Going Up in Smoke After China Terminates Sales –

  • Mere days after launching in the world's largest tobacco market, Juul, a leading e-cigarette producer, had its sales terminated in China; meanwhile, stock estimates have been reduced to little more than vapor, with the firm's $38 billion valuation slowly evaporating.
  • Citing data from analytics firm, Neilsen, the New York Post relays that over 75% of Juul's total sales were made up entirely of mint-flavored refills.
  • Regarding the prohibition of flavored e-cigarettes, the FDA has set a deadline for May 2020; in that time existing products that wish to stay on market are required to state their case in a formal application.
  • Despite the imminent market exclusion of flavored e-cigarettes, New York has taken a hasty first step, becoming the first state to ban the sale of such products.

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