Want to build an investment portfolio that has a conscientious as well as a competitive edge? ESG investing makes it possible. Putting money into this type of investment vehicle could give you peace of mind—even during economically turbulent times. A Closer Look at ESG Investing The “ESG” in ESG investing stands for “environment, social, and…
Musk, Twitter Sued by Florida Pension Fund Seeking to Delay $44 Billion Takeover
A Florida pension fund has sued Tesla CEO Elon Musk and Twitter Inc. in a bid to halt the self-avowed “free speech absolutist” from finalizing his $44 billion takeover bid of the social media platform. In the proposed class-action lawsuit, brought by the Orlando Police Pension Fund and filed in Delaware Chancery Court, the plaintiffs…
Poilievre Takes Aim at ‘Woke Capitalism’ at Private Markets Conference
In a speech at an annual conference for financial markets professionals, Pierre Poilievre told attendees that private companies are less susceptible to “woke capitalism” than public entities, while criticizing those he described as “self-serving elites.” The federal Conservative leadership candidate made the comments as he delivered the opening keynote on May 5 at the Private…
Germany Seen Tipping Into Recession as Factory Output Suffers Sharp Drop: Economists
Germany may be tipping into a recession amid a sharp drop in industrial production as many German firms faced difficulties completing orders due to supply chain snarls caused by ongoing pandemic restrictions and the Ukraine war. Data released on May 6 by Germany’s Federal Statistics Office showed that industrial output fell 3.9 percent month-over-month in…
Dow Falls Nearly 1,000 Points on May 5 After Market Losses Erase Previous Day’s Rally
The Dow Jones Industrial Average lost 1,297 points, or 3.8 percent, on May 5, one day after the market rallied to the Fed’s raising of interest rates, with stocks suffering their worst losses of 2022 and one of its worst days since the start of the pandemic. The day’s massive tumble completely reversed the market’s gains…
Dow Falls Nearly 1,000 Points on May 5, Erasing Previous Day’s Rally
The Dow Jones Industrial Average lost 1,297 points, or 3.8 percent, on May 5, one day after the market rallied to the Fed’s raising of interest rates, with stocks suffering their worst losses of 2022 and one of its worst days since the start of the pandemic. The day’s massive tumble completely reversed the market’s gains…
Elon Musk and Cathie Wood Say Passive Investing Has Gone ‘Too Far’
Tesla chief Elon Musk and Ark Invest founder Cathie Wood touted the benefits of active portfolio management while taking aim at the rise of passive investing, with the duo arguing in a series of tweets that the passive trend has gone too far, leading to market distortions and weaker returns for investors. Musk waded into…
Record Low Number of People Looking to Buy Homes in 2022: Gallup
According to a new poll from Gallup released May 4, less than a third of Americans believe it is a good time to buy a house due to high interest rates, supply chain problems, and climbing inflation. Gallup’s annual Economy and Personal Finance poll was conducted April 1–19, coinciding with the median sale price of U.S….
China Sees the Greatest Capital Outflows on Record, Says IIF
Capital outflows from China in the first quarter were the largest on record, a new report (pdf) from the Institute of International Finance (IIF) found. According to data compiled by the IIF, foreign investors sold Chinese equities and bonds, with local currency bonds representing a majority of the outflows. The world’s second-largest economy witnessed inflows,…
Pfizer Stock Flies Higher Following Q1 Earnings Print: Here’s What to Watch for Next
Pfizer, Inc shot up over 3 percent on Tuesday after printing its first-quarter earnings before the market open. The pharmaceutical giant reported adjusted earnings per share of $1.62, which beat the consensus estimate of $1.50. Pfizer reported sales of $25.70 billion, beating the $23.95 billion estimate. $13.2 billion of Pfizer’s sales came from its COVID-19 vaccine….
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