Carvana Faces Cash Crunch From High Debt, Rising Interest Rates

Carvana Faces Cash Crunch From High Debt, Rising Interest Rates

Carvana Co. CVNA -3.13% , the used-car dealer that was a pandemic winner, is rushing to conserve cash as once-plentiful financing options dry up and business deteriorates. On Friday, Carvana laid off about 1,500 people, its second round in six months. Its weakening finances mean raising funds would be difficult and costly, and it could … Read more

Citi says investors have up to six weeks to keep squeezing the bears after the inflation surprise

Citi says investors have up to six weeks to keep squeezing the bears after the inflation surprise

Well, that was something. Inflation came in a bit below forecast, and then the rockets came out — the best one-day percentage rise for the S&P 500 SPX, +5.54% since April 6, 2020, and the best one-day percentage rise for the Nasdaq Composite since March 24, 2020. If inflation has truly peaked, there’s really just … Read more

Here’s the trouble under the hood at Warren Buffett’s Berkshire Hathaway

Here’s the trouble under the hood at Warren Buffett’s Berkshire Hathaway

It’s midterm day in America, so pack your weapon (where legally permitted), have your local election lawyer on speed dial and get out the popcorn. U-S-A, U-S-A. More on that later. The company lost $2.7 billion in the third quarter, though its earnings are notoriously volatile, and the losses were down to swings in derivatives … Read more

Will Your Car Judge Your Singing Voice?

Will Your Car Judge Your Singing Voice?

You approach the car with arms full of groceries and call out, “Open the tailgate!” On the road, as snow builds, the vehicle asks if you’d like to engage four-wheel drive, which you do by saying “yes.”  Wondering what that digital warning symbol is on your dashboard? The car can explain as you drive. The … Read more

‘Oh my gosh, why am I not in the market?’ This forecaster says investors will be shocked by what’s about to happen next

‘Oh my gosh, why am I not in the market?’ This forecaster says investors will be shocked by what’s about to happen next

Slower, but higher rates and no pivot this side of Christmas. That was the message from Fed Chairman Jerome Powell after the central bank’s fourth-straight jumbo hike. Bruised investors look ready to keep selling stocks on Thursday as yields tear higher. Not everyone agrees with Powell. “The Fed is making a huge policy error, and they will manage to break … Read more

This reliable indicator of recession has yet to buckle, and so the Fed won’t either, strategist says

This reliable indicator of recession has yet to buckle, and so the Fed won’t either, strategist says

As the Fed kicks off its two-day interest-rate setting meeting, the focus is on whether Jerome Powell & Co. stick to their hawkish tone or indicate the pace of rate hikes may slow down. Certainly, there’s valid reason for at least slowing down, after another jumbo rate hike is delivered on Wednesday. Inflation at a … Read more

GM Posts $3.3 Billion Quarterly Profit as Shipments to Dealerships Rise

GM Posts .3 Billion Quarterly Profit as Shipments to Dealerships Rise

GM reported a $3.3 billion profit, driven by outsize sales of big pickup trucks and SUVs, the company’s biggest money makers. Revenue jumped 56% to a quarterly record $41.9 billion, as the auto maker worked through a backlog of vehicles that it hadn’t been able to ship the prior quarter because of parts shortages.  GM … Read more

This hedge fund manager who made winning bets in 2020, says investors should brace for a decades-long bear market

This hedge fund manager who made winning bets in 2020, says investors should brace for a decades-long bear market

On the heels of last week’s bullish turn for stocks, the setup is looking slightly less positive for Monday. Hong Kong stocks may be affecting the mood with a giant slump after China’s leader cemented his power. And we’re entering Fed blackout period ahead of next week’s meeting that’s expected to deliver yet another three-quarters … Read more

Apple, Amazon, McDonald’s Headline Busy Earnings Week

Apple, Amazon, McDonald’s Headline Busy Earnings Week

Amazon. com Inc., Apple Inc. and Meta Platforms Inc. are among the tech heavyweights featured in a packed week of earnings that investors will probe for indicators about the broader economy. Other tech companies scheduled to report their latest quarterly reports include Google parent company Alphabet Inc. and Microsoft Corp. Investors also will hear from … Read more

Who’s going to be the next world’s economic power? Here’s what this famed economist is now saying — and one possible surprise

Who’s going to be the next world’s economic power? Here’s what this famed economist is now saying — and one possible surprise

Thursday’s dramatic spike doesn’t necessarily show that the stock market is about to bottom, but it does confirm that investors are so pessimistic that there isn’t a huge hurdle to overcome to turn things around. That’s one way to look at what is at stake from this week’s earnings from the likes of Netflix NFLX, … Read more