Stocks and 'chaos monkeys,' Tesla's BYD threat, and Warren Buffett's great timing: Markets news roundup
Avoid U.S. stocks while ‘chaos monkeys’ run the show, economist says
President Donald Trump has upended the global geopolitical order in place for more than 70 years with major economic consequences that have only begun to be felt, and which won’t help the U.S., according to economist David McWilliams.
Tesla beware: Rival BYD unveils ultra-fast chargers, giving its stock a jolt
BYD’s (BYDDY) American depositary receipts jumped 2.5% after the EV maker unveiled a new charging system that it said will allow its cars to add enough charge in five minutes to travel 292 miles (470 kilometers), only slightly longer than it takes to refuel a gasoline-powered car.
A market ‘bull crash’ saw fund managers make a huge pivot away from stocks, Bank of America says
Fund managers made their biggest cuts in U.S. equity allocations ever in March and bumped their cash allocations by the most in five years, according to Bank of America’s (BAC) monthly survey of the industry.
Royal Caribbean and other cruise stocks are sinking right now
Cruise stocks, including Norwegian (NCLH), Royal Caribbean (RCL), and Carnival (CCL), are taking on water. Royal Caribbean shares tumbled 6% on Tuesday.
Hims & Hers stock tumbles as the FDA issues a warning about ‘unapproved’ weight loss drugs
Hims & Hers (HIMS), the millennial-skewed telehealth company, saw its stock tumble nearly 9% on Tuesday, as the company braces for big regulatory shifts in the weight-loss drug industry.
Berkshire Hathaway stock is having a gangbusters year after Warren Buffett stashed cash just in time
The Oracle of Omaha still has his mojo. While many S&P 500 stocks have been reeling, Berkshire Hathaway (BRK.A) has been on a tear, hitting record highs this year in its Class A and Class B stocks.
7 surprising jobs that can make you more than $100,000 a year
When most people think of high-paying jobs, they imagine doctors, lawyers, or maybe investment bankers. But those aren’t the only jobs that can provide you financial security.
The Fed keeps interest rates steady — but turns gloomier about the economy
The Federal Reserve kept interest rates on hold on Wednesday as expected, but it raised its inflation and unemployment forecasts, trimmed its GDP projection and slowed the pace of the sale of some assets from its balance sheet. The CPI outlooks for this year and next are now 2.7% and 2.2%, respectively.
Another bank takes a knife to its S&P 500 forecast
RBC Capital Markets (RY) is the latest investment bank to take a knife to its S&P 500 forecast, cutting its year-end target for the index by 400 points to 6,200, following similar actions by Goldman Sachs (GS) and Yardeni Research.