There aren’t many fund managers as widely followed as Cathie Wood. The Ark Invest co-founder and CEO became a rock star in 2020 when her aggressive investing style yielded explosive returns. She has only gone on to trounce the market one more year since 2023, but when she’s on, she’s a force. Wood also happens … Read more
New residential construction, including single-family and multifamily homes, tumbled by the largest amount in four years as rising mortgage rates weaken housing activity. Housing starts fell 14.7% month-over-month in March, dropping from 1.55 million units annualized pace to 1.32 million units annualized, according to data from the Census Bureau released Tuesday. Single family starts fell … Read more
X Cryptocurrency News: Cryptocurrency prices retreated early Tuesday as bitcoin fell below $63,000 with the highly-anticipated halving event is just days away. Elsewhere, Sam Bankman-Fried on March 28 was sentenced to 25 years in prison for his role in the 2022 collapse of crypto exchange FTX. The strong of new highs is rooted in the industry’s … Read more
The Dow rose about 200 points on Tuesday as markets eyed a broader comeback with bond yields at multimonth highs and rising tensions in the Middle East. The Dow Jones Industrial Average (^DJI) climbed about 0.6%, coming off a six-session run of losses. The S&P 500 (^GSPC) hugged the flatline while the tech-heavy Nasdaq Composite … Read more
NEW YORK (AP) — Bank of America said its first-quarter profits fell 18%, as the bank dealt with rising expenses due to the impact of higher interest rates. But the results beat analysts’ estimates. The Charlotte, North Carolina-based bank posted a profit of $6.67 billion, or 76 cents per share, compared with $8.2 billion, or … Read more
Dow futures popped on Tuesday, with US stocks eyeing a broader comeback as a wave of earnings reports lifted a market faced with bond yields at multimonth highs and rising tensions in the Middle East. Dow Jones Industrial Average (^DJI) futures gained 0.6%, coming off a six-session run of losses. Futures on the S&P 500 … Read more
Bank of America (BAC) said Tuesday that first-quarter profits dropped 18% from a year ago as a key revenue source weakened, offering the latest example of how even the biggest banks are increasingly challenged by high interest rates. Net interest income at Bank of America fell 3% from the year-earlier period “as higher deposit costs … Read more
The growth story at Tesla (NASDAQ: TSLA) is starting to look shaky. After years of ever-rising deliveries of its popular electric vehicles (EVs), the company has crashed head-first into economic reality. Demand for EVs is softening, so much so that traditional automakers are pulling back on their ambitious plans. In China, cheaper alternatives are eating Tesla’s … Read more
In books and movies, you know to watch out whenever everything is going great for the main character. There’s always some disruption that throws things off balance. Investors could be in a similar situation right now. The S&P 500 soared 24% last year. The index has risen in the high single digits so far this … Read more
Artificial intelligence (AI) has caught the eye of investors because of its potential to transform many industries, and the biggest impact could be in the area of healthcare. That’s because this technology could solve the No. 1 problem of drug development, the lengthy time it takes to bring a candidate from drawing board to commercialization. … Read more