Personal Finance
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Insiders now aggressively bearish
CHAPEL HILL, N.C. (MarketWatch) — Corporate insiders are aggressively selling their shares. This is worrisome because corporate insiders — officers, directors and the largest shareholders — presumably know more about their companies’ prospects than the rest of us do. If they were confident that the shares of their companies would soon be trading markedly higher,…
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‘I’ve inherited a house from my deceased aunt in San Francisco. She rented the basement to an older couple for years without a lease.’ Can I evict them?
I’ve inherited a house in San Francisco from my aunt. My aunt had rented her basement to an older couple (probably illegally) for a few years for below market rates. I don’t believe there was a lease, and it is probably against the building code to have tenants in the basement. The couple’s family is…
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Law firm in talks with Credit Suisse bondholders about potential lawsuit after $17 billion wipeout
A white-shoe law firm is working with Credit Suisse bondholders to pursue “possible legal actions” after the value of convertible bonds issued by the bank was written down to zero following the takeover of the Zurich-based lender by crosstown rival UBS Group. Los Angeles-based Quinn Emanuel Urquhart & Sullivan said in a press release Monday…
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Bitcoin at ‘redemption arc’ as banking pressures rise, says AllianceBernstein
[]Cryptocurrencies are experiencing a “redemption arc,” as bitcoin rallies and investors keep a close eye on pressures in the U.S. banking system, according to analysts at AllianceBernstein. []Bitcoin BTCUSD, -0.63% tumbled harder than other major assets last year, but has rebounded sharply this year. []The recent turmoil in the banking sector, from the collapses of…
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Biden issues first veto of presidency over attempt to change ESG rules
President Joe Biden on Monday vetoed an attempt to change rules in retirement plans that dictate how much managers consider climate change, corporate board diversity and other factors when picking stocks and funds. It was the first veto of his presidency. Biden in a statement said fiduciaries “should be able to consider any factor that…
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I LIVE for setups like this one
Has the market been trending higher in 2023? Absolutely. Did the market surprise many on Tuesday after it held up strong in the wake of a stronger than expected CPI inflation report? You betcha. That said, so far the market has remained locked in a range in February. Teachable Moment: Most people don’t think about…
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My Favorite Indicator When Fed Powell Talks
The SPY is coming off a week where it gained nearly 2% as markets look to rally off a 3-week losing streak. With a week of heavy economic data coming up, I’d like to share with you my single favorite indicator I use when day trading the SPY during volatile market conditions. Besides using this…
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Paper Mate, Grace brands parent Newell’s stock turns lower after S&P cuts rating to ‘junk,’ citing prioritizing shareholder returns over debt reduction
Newell Brands Inc.’s NWL, -1.01% credit rating was downgraded to “junk” status by S&P Global Ratings, which cited deteriorating credit metrics coupled with weaker demand for its products, and the company’s prioritizing of shareholder returns over debt reduction. Shares of the consumer brands company, with brands including Sharpie, Paper Mate and Graco, fell 0.2% in…
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First Republic Bank’s stock plummets and Peloton’s stock falls while New York Community Bank shares soar, and other stocks on the move
Here are some of the biggest movers on Monday with banks again in focus, after Swiss authorities forced the takeover of Swiss bank Credit Suisse by its peer UBS. Stock gainers: New York Community Bancorp Inc. seems to have got a good deal in buying the assets of failed Signature Bank, as NYCB’s stock NYCB,…
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Dow rises around 350 points as investors assess bank risks ahead of Fed’s next rate decision
U.S. stocks resumed their rally in Monday afternoon trading as investors looked favorably upon the latest efforts to stave off a global banking crisis ahead of this week’s Federal Reserve interest-rate decision. What’s happening The Dow Jones Industrial Average DJIA, +1.02% rose 366 points, or 1.2%, to 32,228. The S&P 500 index SPX, +0.78% gained…