The S&P 500 is up 2.3 percent this month, the best month since February, but it’s a lopsided gain, weighted toward Technology. Sectors in October Technology: up 7.6 percentMaterials: up 4.1 percentBanks: up 1.8 percentIndustrials: up 0.4 percent Technology is so strong this month that it accounts for 75 percent of the gain in the […]
Read moreElon Musk hopes to have a tunnel running under a 17-mile stretch of highway in Los Angeles “in a year or so.” One of his multitude of companies, The Boring Company, is currently building tunnels under Los Angeles. Musk predicts cars will be rushed through the tunnels in pods going as fast as 125 miles […]
Read moreCryptocurrency traders were having a blast Tuesday after bitcoin gained approval in the futures market, but not everyone was in on the party. After CME said it would launch bitcoin futures before the end of the year, fears quickly arose that money would start cascading in, sparking dark comparisons with a financial crisis-like orgy of […]
Read moreFacebook is set for strong earnings with healthy advertisement revenue growth and a stock set to pop another 22 percent over the next 12 months, according to one Wall Street analyst. Deutsche Bank told investors to watch for 42 percent year-over-year ad revenue growth and mentions of “aggressive” investment in video content in Facebook’s earnings […]
Read moreAmong the countless situations autonomous cars must master before we see driverless vehicles giving us rides is a seemingly mundane one: Where do you pick up passengers? “Pickups can be one of the most stressful moments for passengers,” said Juliet Rothenberg who oversees rider experience for Waymo, formerly known as the Google self-driving car project. […]
Read moreI read a Nathaniel Popper piece in the NY Times about celebrities endorsing ICOs. It made me want to throw up. Readers know that I have been and continue to be excited about the emerging blockchain/crypto/token opportunity and I believe it represents the next big wave of innovation in the tech sector, upon which many […]
Read moreCurrency, United States Finance
Forget Brexit, a sex scandal is threatening to engulf the UK parliament
British Prime Minister Theresa May has promised to take action to protect government staff against sexual harassment, as allegations grow of inappropriate behavior by male members of parliament (MPs). A series of claims about the behavior of senior politicians have emerged in recent days, after the Harvey Weinstein scandal encouraged women in all professions to […]
Read moreGreenlight Capital’s David Einhorn said this month started out strong but has ended on a sour note, adding he doesn’t expect to show gains for the period. “The last few days have been very challenging,” the hedge fund manager said on a conference all Tuesday morning. Results for the month aren’t expected to be “materially […]
Read moreShares of chip company Qualcomm fell about 7 percent on Tuesday morning, after reports signaled more trouble between Qualcomm and Apple. The Wall Street Journal reported overnight that Apple was designing products for next year that would not include Qualcomm components, relying instead on chips from Intel and potentially MediaTek. Two unnamed sources also told […]
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On Wall Street, it’s sometimes possible to see a rainbow—and maybe even find a pot of gold—without having to suffer through a downpour first. That’s the happy spin on the historical record of stock performance in years when the market prances unscathed through typically tough months of the year. Rather than “pulling forward” gains from […]
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