There’s an old joke in economics that stock markets have predicted nine out of the past five recessions. The point being that predicting a recession solely based on the stock market is difficult. “They can turn around on a dime. They can turn around in a heartbeat,” said James Angel, a finance professor at Georgetown…
U.S. President Donald Trump purchased a brand-new Tesla from his close ally Elon Musk, praising the billionaire as a “patriot.” Musk personally assisted Trump in selecting a shiny red Tesla outside the White House, with Trump emphasizing he paid the full $80,000 price. The purchase comes as Tesla faces financial struggles, with shares plunging over…
Traders sees the 10-year Treasury rate hitting 5% within five weeks, Bloomberg reported. Yields this high have historically triggered a stock sell-off. The rate has reached higher amid US debt fears and growing inflation concern under Trump. An options bet that puts the 10-year Treasury yield at 5% in the coming weeks is getting attention,…
A man in China whose 10 million yuan (US$1.4 million) lottery jackpot was falsely claimed by another person has won a lawsuit demanding the money back. However, the man, surnamed Yao, has still not received his winnings after a five-year battle to secure his rights. The case has attracted huge attention on mainland social media…
Thanksgiving online spending hit $6.1 billion, driven in part by mobile device purchases. More shoppers are using buy now, pay later, with $993 million in sales using the method expected Cyber Monday. About 80% of those purchases were made on a phone. This year, more shoppers than ever are using buy now, pay later options…