CNBC’s Jim Cramer said Friday that he’s breathing a sigh of relief as beaten-down stocks ‘have already taken enough hits,’ allowing investors to trade in a safer environment next week – though they still need to tread carefully. “When we’ve been beaten down to these levels, we reach a point where stocks that would normally … Read more
An over-the-top modern mansion in Bel Air was listed for $87.8 million for an auction this week. But the highest bid came in just under $45.8 million, according to the home’s seller, dermatologist-turned-developer Alex Khadavi. “Horrible, Horrible, Horrible!” was how Khadavi characterized the auction results to CNBC. He filed for Chapter 11 bankruptcy protection two … Read more
A shopper at a San Francisco grocery store on May 2, 2022. David Paul Morris | Bloomberg | Getty Images Inflation is a growing concern as Americans spend hundreds more every month. But some retirees may avoid the sting of price hikes for gasoline, groceries and other costs. Annual inflation rose by 8.3% in April, … Read more
Novavax is confident its Covid-19 vaccine will receive the endorsement of the Food and Drug Administration’s advisory committee early this summer, executives said this week. The FDA committee is scheduled to meet on June 7 to review Novavax’s submission. An endorsement from the committee, which is made up of independent experts, would mean the drug … Read more
The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images Regulators are getting increasingly worried about stablecoins after the collapse of controversial cryptocurrency venture Terra. TerraUSD, an “algorithmic” stablecoin that’s meant to be pegged one-to-one with the US dollar, has erased much of its value this week … Read more
Musk’s plan to buy Twitter has worried policymakers around the world. Joe Skipper | Reuters Elon Musk can’t just walk away from his deal to acquire Twitter by paying an agreed-upon $1 billion breakup fee. It’s not that simple. Musk Friday tweeted that he has decided to put his acquisition of Twitter “on hold” as … Read more
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Dow futures pop after the 30-stock average’s six-session losing streak The Twitter logo and trading information is displayed as a trader works on the floor of the New York Stock Exchange (NYSE) in New York City, US, … Read more
Tether has long faced questions over whether it has enough assets to justify its peg to the dollar. Tiffany Hagler | Bloomberg via Getty Images Tether, the world’s largest stablecoin, regained its peg to the dollar after more than $3 billion worth of tokens left the system in a single day. The cryptocurrency — which … Read more
CEO of Salesforce Marc Benioff attends a meeting with US President Joe Biden and private sector CEOs in the State Dining Room of the White House on January 26, 2022 in Washington, DC. Drew Anger | Getty Images Salesforce told employees in a Slack message on Thursday that the company will help them relocate if … Read more
Baby formula is offered for sale at a big box store on January 13, 2022 in Chicago, Illinois. Scott Olson | Getty Images The US will increase baby formula imports as part of an effort to ease a nationwide shortage, senior Biden administration officials said on Thursday. The scarcity of formula was triggered in part … Read more