“Treasury Yields Surge as April Jobs Exceed Expectations: Traders Dismiss June Fed Rate Cut”
US Treasury yields across maturities increased on Friday after better-than-expected jobs data for April eased concerns of an economic slowdown. Treasury yields move inversely to prices. A strong jobs report often results in a decrease in bond prices, as it sends investors looking for riskier assets like stocks, causing an increase in yields. This time, […]
Soaring Apple Earnings and Surprising Jobs Report Push US Stocks to Open Higher!
US stock indexes opened higher on Friday, after four consecutive days of losses, as a robust April jobs report tempered fears of an economic slowdown. The Dow Jones Industrial Average gained 376 points, or 1.1%, to 33,504, while the S&P 500 advanced 1.1% and the Nasdaq Composite rose 1%. Government data shows the US created […]
World Health Organization Announces End to Global COVID Emergency: Welcome a New Era
The World Health Organization (WHO) has announced the end of the COVID-19 global health emergency, bringing relief and hope to billions of people worldwide. For two years, the pandemic has caused widespread suffering and transformed life as we knew it. In a press conference at the agency’s headquarters in Geneva, Director-General Dr. Tedros Adhanom Ghebreyesus […]
Buffett’s Berkshire Not Eyeing Full Control, Content with Occidental Petroleum’s Stake
Legendary investor Warren Buffett has stated that Berkshire Hathaway does not have plans to take full control of Houston-based oil and gas producer Occidental Petroleum. This announcement was made at Berkshire’s annual shareholder meeting in Omaha, Nebraska on Saturday. Buffett, the 92-year-old Chairman and CEO of the conglomerate, reassured investors and observers by saying that […]
Historic $279M SEC Whistleblower Award Shatters Records, Marks Agency’s Largest Payout Ever!
The US Securities and Exchange Commission (SEC) recently awarded a record-breaking $279 million to a whistleblower whose information significantly aided the agency’s enforcement activities. This latest award eclipses the previous highest payment by more than double, which amounted to $114 million in October 2020. The SEC did not disclose the whistleblower’s identity or the company […]
PacWest Stock Skyrockets to Record-Breaking Rally, Bouncing Back from Epic 6-Day Selloff
It was indeed an impressive difference a day can make for PacWest Bancorp (PACW) as its shares witnessed a record one-day gain last Friday, bouncing back after closing the previous session at a record low. The stock had already been halted six times for volatility since the market opened and then powered up 77.9% in […]
Nanobiotix Shares Skyrocket: Cancer Treatment Deal with Big Pharma Nears Finalization
Nanobiotix, a France-based biotechnology company, witnessed a 221.7% increase in its U.S.-listed shares on significant trading volume, following news that the firm has entered into final contract negotiations for the commercialization of its groundbreaking cancer treatment. The company’s trading volume spiked to an astonishing 27.9 million shares, a stark increase from the usual full-day volume […]
Biden Slams GOP for Debt Ceiling-Budget Ties, Republicans Claim Dems Did Likewise
President Joe Biden has once again criticized the Republican stance in Washington’s ongoing debt-ceiling standoff, even as GOP lawmakers argue that Biden and his fellow Democrats have taken comparable positions in the past. During a meeting at the White House, Biden praised the recent jobs report but claimed that Republicans in Congress were “threatening to […]
“Baker Hughes Report: US Oil Drilling Rigs See Exciting Weekly Drop!”
Oilfield services company Baker Hughes reported on May 21 that the weekly number of active U.S. rigs drilling for oil dropped by three to 588. In total, the active U.S. rig count, encompassing those drilling for natural gas, fell by seven to 748. Following this report, oil prices continued to rise, with the June West […]
Vice Media Approaches Sale to Lenders at a Steep Discount from $5.7B Peak Valuation: WSJ
Vice Media, a once-thriving New York-based media outlet, is reportedly near an acquisition deal worth $400 million with Soros Fund Management, Fortress Investment Group, and other lenders. Following financial struggles and rumors of bankruptcy, Vice’s valuation has plummeted from $5.7 billion in 2017 to its current valuation in this deal. The acquisition would result in […]