NEW YORK—The euro rebounded on Tuesday after sliding to a 20-year low and nearing parity against the U.S. dollar as investors worried that an energy crisis in the region would bring on a recession. The single currency reached $1.00005 against the greenback, the lowest since December 2002, after data showed German investor sentiment in July…
European Smartphone Market Falls 12 Percent in Q1, Counterpoint Says
STOCKHOLM—The European smartphone market declined by 12 percent in the first quarter of the year, registering the lowest shipments in the period for nearly a decade, according to a report from Counterpoint Research. The fall was a result of ongoing component shortages, COVID-19 related lockdowns in China, deteriorating economic conditions, and the onset of the…
‘You Have to Look at Everything’: Salesforce’s CEO on How Growth Companies Can Survive This Market
Tech stocks are tumbling as the Federal Reserve wrestles with inflation in what is expected to be the central bank’s most aggressive tightening cycle in more than 40 years. What to Know On CNBC’s “Squawk On The Street” Wednesday, Salesforce Inc. CEO Marc Benioff said his cloud company was born into a recession. “In 2001, we almost lost our company because of a…
Risk Non-Parity
Commentary “Risk management is the bedrock of our firm” is often a line you hear when managers or advisers talk about their strategy and approach to the markets. What you rarely hear is an in depth explanation of what that supposed bedrock is actually made up of. What is the actual process a manager goes…
Bored Apes Yacht Club Sales Surge by Over 176 percent in 24 Hours, Floor Price Hits 109 ETH
According to WuBlockchain’s data, Bored Apes Yacht Club (BAYC) has seen the project’s total market value increase to almost $1 billion, as the trading volume rose by over 176 percent in a 24-hour period. Along with that, the floor price of the series spiked to almost 110 ETH, which is approximately $330,000. The Bored Apes…
US Auto Sales Slide in Q1; Toyota Outsells GM
U.S. automakers on Friday reported a slump in first-quarter domestic sales, as the entire industry was slammed by chip shortages and disruptions to supply chains. Toyota, which in 2021 upstaged GM as the top-selling automaker in the United States, outsold the company in the first quarter on increased demand for its Lexus hybrid and electric…
Beijing Rushes to Revive Market After Chinese Stocks Crash
March 16, 2022
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Top Beijing regulators rushed to salvage market confidence as investors began panic selling Chinese stocks for days in a row, pushing major indexes to their lowest levels in years. Hong Kong’s Hang Seng Tech Index lost roughly 22 percent since Friday, stocks in Shanghai and Shenzhen also saw a daily drop of 5 and 4…
IEA Says Market May Lose 3 Million bpd of Russian Oil Next Month
March 16, 2022
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LONDON—Oil markets could lose three million barrels per day (bpd) of Russian crude and refined products from April, the International Energy Agency (IEA) said on Wednesday, exceeding the one million bpd per day demand drop high prices are expected to cause. The Paris-based watchdog said sanctions and buyer reluctance to purchase Russian crude were pushing…
Will the Stock Market Crash? Part 2 of 2
Commentary In my last column (“Will the stock market crash? Part One of Two”), I answered this question in the affirmative, on the grounds that the market was the second most overvalued in history according to Shiller’s CAPE Index, and it had the highest level of margin debt since the Great Depression. Both conditions set…
Costco Q2 Earnings Highlights: Revenue & EPS Beat, Store Sales up 12.6 Percent and Early February Numbers
Costco Wholesale Corp reported second-quarter financial results after market close Thursday. Here are the highlights. What Happened Costco reported second-quarter net sales of $50.9 billion, up 16.1 percent year-over-year. Total revenue of $51.9 billion in the quarter beat a consensus estimate of $51.4 billion, according to Benzinga Pro. Second-quarter revenue included $967 million from membership…
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