The 2008 financial crisis, one of the biggest financial debacles in history, made Michael Burry a legend. It made him one of the examples to follow in defiance of standard practices in financial circles. The 2015 film “The Big Short” describes how the investor, who had no particular expertise in finance and real estate, came … Read more
Tesla hasn’t had a lot of important fundamental news recently, which leaves the stock at the mercy of its chart. And the chart doesn’t look very good. Until something fundamental changes, Tesla (ticker: TSLA) stock is likely to top out at around $200. It could fall as low as $100, though there is also some … Read more
The outlook for cruise stocks is still “more positive than not,” according to JPMorgan analyst Daniel Adam, but given macroeconomic and financial concerns in the sector, not all names are worth buying. He assumed coverage of cruise stocks Tuesday, keeping an overweight rating on Norwegian Cruise Line Holdings Ltd. NCLH, -3.49% and a neutral rating … Read more
A significant portion of Americans fear the once-booming housing market is headed for a significant crash in the months ahead, recent survey results from LendingTree showed. According to the survey, 41% of Americans expect the housing market to crash within the next 12 months. By comparison, just 25% of respondents said they expect the sector … Read more
Markets U.S. Markets Crude-oil prices extend declines, Treasury yields tick lower
Wall Street titan Jamie Dimon warned of a possible “mild to hard recession” as the Federal Reserve continues to hike interest rates — and meanwhile ridiculed cryptocurrencies, calling them as useless as “pet rocks.” The hard-charging chief executive of JPMorgan Chase said America’s global economic advantages could take a painful hit as the Fed continues … Read more
Mirati Therapeutics (MRTX) said almost half of patients responded to its lung cancer regimen, but MRTX stock crashed Tuesday as investors questioned whether it could take on traditional chemotherapy. X The biotech company tested its drug, adagrasib, in combination with Merck‘s (MRK) Keytruda in patients with non small-cell lung cancer. Across all patients, 49% responded. … Read more
U.S. stocks were little changed Tuesday morning as Wall Street continued a sluggish start to the week, as investors digest new readings on October’s trade balance and await results from the Georgia Senate runoff election. The S&P 500 (^GSPC), the Dow Jones Industrial Average (^DJI) and the technology-heavy Nasdaq Composite (^IXIC) were unchanged in early … Read more
The Dow Jones Industrial Average fell Tuesday morning, as the major stock indexes looked to rebound after Monday’s stock market sell-off. Dow Jones financial giant JPMorgan jumped after being double upgraded ahead of the market open. X AutoZone (AZO) and GitLab (GTLB) were key earnings reporters Tuesday morning. AZO shares declined 3% despite better-than-expected results … Read more
