Dow Heads for own on Vaccine Hopes…
Global Markets Plunge in New York, Paris and London Over COVID-19 Fears…
Global stock exchanges suffered historic crashes as coronavirus panic gripped the financial world. The French CAC40 plunged 12.28% on Thursday, the biggest fall in its history. The UK’s FTSE, meanwhile, finished with a 9.81% drop, its worst day since October 1987. The Dow Jones also had its worst day since 1987, plunging more than 10%. […]
There Was a Bloodbath in Wall Street Banks and Insurers Yesterday…
President Donald Trump is bringing a pea shooter to a gunfight. If you look carefully at the charts on this page from yesterday’s trading bloodbath, it’s clear that there is a deep financial crisis playing out. The idea that this can be remedied with a payroll tax cut is the stuff of tooth fairies. And […]
The Wolves Have Turned on Each Other on Wall Street…
Some decades back, the late MIT economist Lester Thurow wrote this: “Essentially, the economic problem is like that of the wolf and the caribou. If the wolves eat all the caribou, the wolves also vanish.” What Thurow did not take into consideration is that if the wolf pack is large enough, it can survive for […]
The Stock Market Just Got Off to its Best Start in 13 Years…
Things are coming up roses in the stock market, lately. The Dow Jones Industrial Average, S&P 500 index and Nasdaq Composite Index are off to their best starts to a year since 2006 after a powerful series of gains. The Dow DJIA, +51% closed up 0.5% on Thursday, pushing its year-to-date gain to 2.89%, which […]
Why Stocks Are Soaring: A Massive, $64 Billion Buy Order…
Last Friday, when stocks were tumbling, we reported “some good news for the bulls” which was lost in the overall chaos over the latest mutual fund liquidation discussed earlier. And no, we did not anticipate that President Trump would activate the Plunge Protection Team over the weekend: the good news in question was that as […]
Dow Finishes Nearly 550 Points Higher As Stocks Soar After Midterms…
U.S. stocks ended sharply higher Wednesday, following closely watched midterm elections that saw Democrats take control of the House, delivering a divided Congress, and news that Attorney General Jeff Sessions was resigning at the request of the president…
U.S. Stocks Snap Selling Spree to Close Higher in Volatile Trading…
The U.S. stock market halted its death spiral to close higher Tuesday after a wild day of trading that saw the Dow ricocheting more than 1,000 points, underscoring a new regime of volatility on Wall Street. The turnaround, which follows on the heels of the blue-chip index’s worst one-day point decline on Monday, helped to […]
Dow Falls More Than 1,000…
The Dow Jones Industrial Average fell by more than 1,100 points Monday, breaking its record for largest daily loss by points. The Dow dropped more than 1,500 points Monday before recovering to close at 24,341, a 1,179-point loss. The plunge broke the Dow’s previous record for the largest daily loss by points, set on Sept. […]
Wall Street Banks Are Trading in Their Own Company’s Stock: How Is This Legal?…
The week that Donald Trump shocked markets around the globe by getting himself elected President of the United States, Wall Street banks like Citigroup, JPMorgan Chase, Bank of America and others traded millions of shares of each other’s stocks – as well as trading millions of shares of their own publicly traded stock…