Evidence that the stock market and the real economy are not the same thing.Dec 22, 2020 - Economy & Business
If Trump's presidency is about to end, an unprecedented golden era for big businesses could end with it.Nov 6, 2020 - Economy & Business
All major oil companies are facing trouble. But Exxon has fallen the farthest, making the biggest bets on oil and gas — and the smallest bets on renewable energy.Nov 1, 2020 - Economy & Business
Bullish fund managers are starting to lay down bets that it will be this way for a while.Jul 9, 2020 - Economy & Business
The disconnect shows how the coronavirus has thrown all bets off.Jul 3, 2020 - Economy & Business
There are a growing number of signs the bull market in equities is overheating, with indicators of investor complacency and risk-seeking reaching the highest levels since 2007 and 1999.
Why it matters: Those periods of extreme euphoria were followed by market crashes.
JPMorgan CEO Jamie Dimon is calling on companies to play a bigger role in the world’s problems, saying today in his annual shareholders letter that the business sector should be a “responsible community citizen."
Why it matters: Corporations are increasingly facing more pressure to take a stand on politically divisive issues.
Sarcos Robotics, a Salt Lake City-based developer of robotic exoskeletons, agreed to go public at a $1.3 billion implied valuation via acquisition by Rotor Acquisition (NYSE: ROT), a SPAC led by Wall Street vet Brian Finn.
Why it matters: Expect this one to get some special scrutiny from the SEC. Finn's venture capital firm, Rotor Capital, last year led a Series C investment in Sarcos and also participated in a CES product unveiling. And Finn seems aware of the potential pitfalls, mentioning the existing relationship early in today's investor presentation.
GameStop (NYSE: GME) disclosed plans to sell up to 3.5 million shares via a secondary public offering.
Why it matters: It reflects how GameStop has morphed from a passive player in the Reddit revolt to a fully-engaged participant, using its soaring stock price as predicate to restructure management, strategy and finances.
Audio chat app Clubhouse has enabled solo investors to build their own digital trading floors.
Why it matters: The live, audio-only aspect of Clubhouse gives retail investors a way to mind-meld with more decorum than other platforms, and a way to pick up on insights hard to find elsewhere.
The S&P 500 closed over 4,000 on Thursday for the first time, having nearly doubled its coronavirus pandemic low of 2,192 in just over a year.
Why it matters: "Round numbers can be big psychological barriers for markets, so breaking 4,000 could provide a confidence boost to stocks in the short term," Lule Demmissie, president of Ally Invest, says in a note.
The bubble didn't burst. That's the main lesson to be drawn from the failures of Greensill and Archegos — headline-grabbing implosions that were certainly bad for Credit Suisse, among others, but that did nothing to slow the broader market's surge to new all-time highs.
The big picture: Speculative financial bubbles tend to be self-fueling. Investors using cheap borrowed money invest in assets that go up in value, generating paper profits that in turn get levered up even further and invested even more aggressively.
San Francisco Fed President Mary Daly does not expect President Joe Biden's proposed $2 trillion infrastructure package to alter the central bank's path on interest rate increases or change its outlook for inflation, she tells Axios in an exclusive interview.
Why it matters: Many have worried the combination of trillions in spending on coronavirus relief, the Fed's ultra-loose monetary policy, and Biden's big stimulus plans for infrastructure, education and manufacturing will set the table for out-of-control price increases.
Food delivery company Deliveroo’s much-anticipated public listing in London had a rough first day on the market.
Why it matters: Deliveroo was expected to be a watershed moment for London’s stock exchange as the biggest company to go public since Glencore nearly a decade ago, and the first of hopefully many more Big Tech IPOs.
Electric aviation startup Lilium is going public via merger with a special purpose acquisition company as it looks to commercialize a seven-seat vertical takeoff and landing plane (VTOL) for regional travel.
Driving the news: The Munich-based company yesterday announced a merger with Qell Acquisition Corp. that values the combined company at roughly $3.3 billion.