S3 Studio | Getty Images Check out the companies making headlines in midday trading. Snap — Shares of the Snapchat parent company cratered 28.1% after it missed revenue estimates and saw its slowest sales growth since going public as advertising spending slows. The results from Snap hit other ad-reliant stocks, sending shares of Pinterest and
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Municipals sold off Friday with losses of up to 18 basis points, with the damage felt across the curve, and the 30-year triple-A yield closed just shy of 4%. U.S. Treasuries ended mixed after the 10-year rose to levels not seen since 2007 earlier in the session, and the reversal led to an equity rally
A shift in the municipal bond buyer base away from mutual funds might mean an uptick in borrowing costs for states and local governments and a more credit-focused investment strategy. Massive mutual fund outflows this year of around $100 billion means issuers have “lost their prime funding mechanism,” said Tom Doe, president and managing partner
Federal Reserve Bank of San Francisco President Mary Daly said policymakers should start planning for a reduction in the size of interest-rate increases, though it’s not yet time to “step down” from large hikes. “It should at least be something we’re considering at this point, but the data haven’t been cooperating,” Daly said Friday in
In May, Princeton University, a non-profit with access to the tax-exempt debt markets, chose to issue $300 million of taxable debt with a corporate CUSIP side-by-side with a traditional $300 million tax-exempt deal. That’s because the taxable corporate CUSIP bonds allowed it more flexibility with proceeds than tax-exempts do, a university official said. “The university
Florida’s unemployment rate fell to a near record low in September, according to data released Friday by the U.S. Labor Department and the state Department of Economic Opportunity. Florida’s unemployment rate dropped to 2.5% from 2.7% in the previous month and is now the second lowest in the state’s history and the lowest since October
With the University of Puerto Rico under increasing financial pressure, the full payment of its roughly $365 million in bonds appears to be under threat. The university has continued to pay debt service on its bonds since the 2016 passage of the Puerto Rico Oversight, Management, and Economic Stability Act that set up the bankruptcy
The 10-year Treasury yield in the United States rose to its highest level since 2008. Although this type of rally is usually negative for risky assets, the U.S. stock markets recovered ground after the Wall Street Journal reported that some officials of the Federal Reserve were concerned about the pace of the rate hikes and
Atlanta plans to price via negotiation Tuesday $410 million of general obligation bonds to fund capital improvements across the city. On Oct. 5 Moody’s Investors Service assigned the expected issuance an Aa1 and affirmed that rating on Atlanta’s outstanding unlimited tax GO bonds. Fitch Ratings Sept. 26 affirmed its AA-plus rating and stable outlook on
Conservative MPs were on Friday deeply divided by the prospect of Boris Johnson returning as party leader and UK prime minister — just three months after he quit following a string of scandals. Contenders to replace Liz Truss — who dramatically resigned on Thursday after only six weeks in power — were racing to secure
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In this article GOOGL META THC SIVB WHR SNAP RHI CSX Follow your favorite stocksCREATE FREE ACCOUNT Snapchat logo displayed on a phone screen is seen with a laptop in the background in this illustration photo taken in Krakow, Poland on August 10, 2022. Jakub Porzycki | Nurphoto | Getty Images Check out the companies
Real estate broker Rebecca Van Camp places a “Sold” placard on her sign in front of a home in Meridian, Idaho, on Wednesday, Oct. 21, 2020. Darin Oswald | Tribune News Service | Getty Images Existing homes are selling at the slowest pace since September 2012, with the exception of a brief drop at the
Municipals were weaker as mutual fund outflows continued, while U.S. Treasuries extended their selloff and equities ended in the red. Triple-A yields rose one to three basis points, with the larger losses out long, while UST yields rose eight to 10 basis points across the curve. Muni-UST ratios fell with the three-year at 65%, the
The current crypto bear market has induced panic, fear and uncertainty in investors. The dire situation started when the global market capitalization of crypto dropped below the $2 trillion mark in January 2022. Since then, the price of Bitcoin (BTC) has decreased by over 70% from its all-time high of $69,044.77, reached on Nov. 10,
In this article CZR SLG Follow your favorite stocksCREATE FREE ACCOUNT Video slot machines at Caesars Palace in Las Vegas, Nevada. George Rose | Getty Images Developer SL Green Realty is working with casino operator Caesars Entertainment on a bid to bring a casino to New York’s Times Square, the companies announced Thursday. The partners
Liz Truss was on Thursday forced to quit as UK prime minister, drawing to a dramatic close 44 days in office which saw her preside over an economic meltdown and catastrophic damage to the ruling Conservative party. Truss was told to quit by senior party figures on Thursday morning, leaving bitterly divided Tory MPs facing
Fidelity Digital Assets, the crypto wing of $4.5 trillion asset manager Fidelity Investments, is set to offer Ether (ETH) custody and trading services to its institutional clients later this month. According to an email to Fidelity’s customers shared on Twitter, the crypto arm announced new “Institutional Ethereum capabilities” for institutional investors starting on Oct. 28, 2022.
Bloomberg Intelligence senior commodity strategist Mike McGlone says Bitcoin’s (BTC) relative discount to its high hash rate in October — the largest since the first quarter of 2020 — could soon see Bitcoin return to “its propensity to outperform most assets.” In an Oct. 19 Twitter post, the Bloomberg analyst suggested that Bitcoin’s ever-increasing hash rate
Introduction to the Zacks Rank and how using it can help you become a better investor.
Chamath Palihapitiya, Social Capital Founder and CEO CNBC A new buyback tax has motivated more and more SPAC sponsors to close up shop before the year-end, adding another headwind to the blank-check space already roiled by a tough market environment. A total of 27 SPAC deals, worth $12.8 billion, have been liquidated this year, according