Anti-Ark ETF Plan Caps a Bad Stretch for Cathie Wood’s Funds
Monday, August 2, 2021 08:51 AM By Sam Potter and Katie Greifeld ARKK drops 8.2% in July, worst month since pandemic selloff Tuttle Capital to manage SARK, fund delivering inverse return (Bloomberg) — A new ETF designed to bet directly against Cathie Wood’s flagship fund comes not a moment too soon for her growing band of skeptics. All eight of […]
Euro-Area Reopening Boom Lifts Confidence to All-Time High
Thursday, July 29, 2021 02:00 AM By Jana Randow Sentiment gauge rose to 119 in July; median est. 118.2 Industrial confidence at record, services highest since 2007 (Bloomberg) —Confidence in the euro-area economy climbed to a record in July as business resurges following the end of coronavirus lockdowns. Factories in the 19-nation region are running at […]
US economy grows beyond pre-pandemic level.
By Sarah Chaney Cambon (Dow Jones) — U.S. gross domestic product grew at a 6.5% annual rate in the second quarter, up slightly from earlier in the year, pushing the economy’s size beyond its pre-pandemic level. The growth came as business reopenings and government aid powered a surge that is expected to gradually slow in […]
U.S. GDP rose 6.5% last quarter, well below expectations
The U.S. economy rose at a disappointing rate in the second quarter, the Commerce Department reported Thursday in a sign that the U.S. has escaped the shackles of the Covid-19 pandemic but still has more work to do. Gross domestic product, a measure of all goods and services produced during the April-to-June period, accelerated 6.5% […]
BlackRock’s Rieder says the Fed could begin tapering bond purchases in November
Rick Rieder Anjali Sundaram | CNBC BlackRock’s Rick Rieder said there’s too much liquidity in global markets and the Federal Reserve should begin tapering its bond purchases soon. Rieder, chief investment officer of global fixed income, said he expects the central bank to detail its plans to pare back its $120 billion in Treasury and mortgage […]
Fed ramps up debate over taper timing
By Nick Timiraos (Dow Jones) — Federal Reserve officials are set to accelerate deliberations at their meeting next week over how to scale back their easy-money policies amid a stronger U.S. economic recovery than they anticipated six months ago. Fed Chairman Jerome Powell has said their discussions are focusing on two important questions: When to […]
Bill Ackman still sees a massive economic boom despite the delta variant, says rates to rebound
Billionaire investor Bill Ackman said Monday that the spread of the delta variant doesn’t pose a significant threat to the economic reopening, and he sees interest rates rising on the back of the big comeback. “I hope what it does is that it motivates anyone who doesn’t get the vaccine to get the vaccine. I don’t think […]
JPMorgan Strategist Warns of Dot-Com Era ‘Bull Trap’ in Ark Fund
Thursday, July 15, 2021 06:02 AM By Joanna Ossinger ARK Innovation ETF is showing bubble-like traits, Quigg says Looming increase in yields could send Cathie Wood’s fund down (Bloomberg) — Cathie Wood’s flagship ETF is showing many of the bubble-like traits seen in growth-based funds in 2000 and investors should consider betting against it with options, […]
Covid Brings Automation to the Workplace, Killing Some Jobs
LEE’S FAMOUS RECIPE Chicken, a fast-food chain in Ohio, hardly seems an obvious venue for cutting-edge artificial intelligence. But the company’s drive-thrus are showcasing technology that reveals how the Covid-19 pandemic is accelerating the creep of automation into some workplaces. Unable to find enough workers, Chuck Cooper, CEO of Lee’s Famous Recipe Chicken, installed an automated voice system in many […]
Inflation Is Now an Undeniable Reality: Authers’ Indicators
By John Authers July 13, 2021 Inflation in the U.S. is now an undeniable reality. June’s “headline” consumer price index, including everything the government puts in its representative basket of products and services we buy, stands at 5.4%, the highest in 30 years barring one month in the summer of 2008 when oil reached nearly $150 […]