A research paper published at Harvard University is advocating that central banks should buy bitcoin BTCUSD, +2.56% as a hedge against sanctions by other countries. The paper, titled “Hedging Sanctions Risk: Cryptocurrency in Central Bank Reserves,” was authored by Ph.D. candidate Matthew Ferranti from Harvard’s economics department, and likens central banks’ gold reserves to potential … Read more
Another Tesla Inc. earnings call, and another fanciful Elon Musk prediction that likely encouraged yet another open file at the Securities and Exchange Commission on Wednesday. The chief executive of Tesla Inc. TSLA, +0.84% told investors Wednesday that he believes the valuation of the electric-car maker will exceed the combined market capitalization of the two … Read more
Tech companies, electric-vehicle makers and some meme stocks are part of the aggregate mix of equities inside the portfolios of Robinhood users, according to a new index from the brokerage app geared at new investors. These are stocks like Amazon AMZN, +2.66%, Microsoft MSFT, +2.30%, Tesla TSLA, +3.60%, Apple AAPL, +1.88%, Ford Motor Company F, … Read more
A “superbubble” appears dangerously near its “final act” after the recent rally in U.S. stocks lured some investors back into the market just ahead of potential “tragedy,” according to Jeremy Grantham, the legendary co-founder of Boston-based investment firm GMO. Grantham, who has repeatedly warned investors of a bubble in markets, said in a paper Wednesday … Read more
A lot of money can be made betting on when the Federal Reserve will “pivot” — that is, take its foot at least partially off the rate-hike gas pedal. Yet a lot of money can also be lost, as we saw on August 26 when the Dow Jones Industrial Average DJIA, -0.57% lost more than … Read more
SEOUL, South Korea — South Korean President Yoon Suk Yeol on Monday offered “audacious” economic assistance to North Korea if it abandons its nuclear weapons program while avoiding harsh criticism of the North days after it threatened “deadly” retaliation over the COVID-19 outbreak it blames on the South. In a speech celebrating the end of … Read more
Alphabet Inc. and Microsoft Corp. both reported results that missed Wall Street’s expectations Tuesday, but not only did investors not melt down, both actually saw their stocks rise in after-hours trading. Amid troubling economic signs, tech stocks have been battered so far this year, and fears about a slowdown among Big Tech names had Wall … Read more
Tesla is hiking its U.S. prices, as the electric vehicle maker battles rising aluminum costs and the global supply chain crisis. According to its website, the Model S list price has gone up to $109,490, from $104,490 earlier in the month. The Model Y has climbed to $67,990, from $64,990. Tesla CEO Elon Musk earlier … Read more
Michael O’Leary, chief executive of Ryanair Holdings Inc., tore into Boeing Co. during an earnings call Monday, blasting the plane-maker’s “very poor management” and calling for a shakeup at the top. “At the moment, we think Boeing management is running around like headless chickens, not able to sell aircraft, and then even the aircraft they … Read more