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US stocks surged to record highs as markets mulled the impact of the attempted assassination of Donald Trump over the weekend. Investors anticipate the attempt will boost Trump's chances in the November Presidential election. AdvertisementUS stocks moved higher on Monday to test record highs after former President Donald Trump survived an assassination attempt over the weekend. Investors are betting that the tragic attempt on Trump's life will help hand him to the Presidency once again in November. A higher US dollar could also be in store under a potential Trump Presidency in November, though the dollar was about flat in early Monday trades.
Persons: Donald Trump, , bitcoin, Tesla, Trump, Kyle Rodda Organizations: Trump Media, Service, Trump Media & Technology Group, GEO Group, Trump Presidency, Treasury, Here's Locations: United States
REUTERS/Adrees LatifNEW YORK, Aug 14 (Reuters) - Michael Burry, the money manager made famous in the book and film "The Big Short," held bearish options against the broad S&P 500 and Nasdaq 100 Index at the end of the second quarter, according to securities fillings released on Monday. Put options convey the right to sell shares at a fixed price in the future and are typically bought to express a bearish or defensive view. Michael Lewis' nonfiction book "The Big Short" was released in 2010 and the movie version came out in 2015. The S&P 500 (.SPX) is up roughly 17% for the year to date while the Nasdaq 100 (.IXIC) is up nearly 39% over the same period. Burry, who frequently turns over his portfolio, drew wide attention last August when he dumped all of his long positions and bought a stake in prison company Geo Group Inc (GEO.N).
Persons: Adrees Latif, Michael Burry, Michael Lewis, David Randall, Saqib Iqbal Ahmed, Ira Iosebashvili, Matthew Lewis Organizations: Nasdaq, REUTERS, YORK, Scion Asset Management, U.S, Nvidia, HK, Alibaba Group Holdings, Western Alliance Bancorp, First Republic Bank, RealReal Inc, Warner Bros ., Warner Brothers, Scion, Management, Geo Group Inc, Thomson Locations: Square, Midtown New York, New York
CNN —A Nicaraguan national who died last week in federal immigration custody had spent more than one year in detention. Despite having been recommended for release more than seven months ago, he continued to be held in immigration custody, according to the Southern Poverty Law Center. In November 2022, an ICE panel recommended Rocha-Cuadra be released from custody, but officials at the facility declined to release him, a statement from the SPLC said. In a written statement to the press, Rocha-Cuadra’s brother joined a chorus of immigration rights advocates calling for the ICE facility to be investigated. Rocha-Cuadra had been in immigration custody after crossing the border illegally near Andrade, California, on April 17, 2022, according to a statement from ICE earlier this week.
Persons: Ernesto Rocha, Rocha, Cuadra, Ernesto, “ NOLA, Cuadra’s, Frank Rocha, noncitizen, , Organizations: CNN —, Nicaraguan, Southern Poverty Law Center, Immigration, Customs, New Orleans ICE Field Office, , “ NOLA ICE ”, ICE, CNN, GEO, Inc, GEO Group, . Immigration, Healthcare, Central Louisiana ICE Processing, ICE Health Services Corps Locations: Cuadra, ICE’s, Jena , Louisiana, Andrade , California, ICE’s Central Louisiana
The move comes after fund manager Burry dumped a dozen positions in the second quarter, including Facebook parent Meta Platforms (META.O), and replaced them with a new stake in prison company Geo Group Inc (GEO.N). A regulatory filing on Monday showed he bought roughly 1.5 million additional shares in Geo Group in the third quarter. Burry also added $7.8 million stake in CoreCivic, the filing showed. Shares in Geo Group, CoreCivic and Aerojet are up year-to-date, outperforming the S&P 500, which is down 16.3% on the year. Fund managers are not required to disclose short positions, which profit when a company's shares fall.
Most are operated by GEO Group and rival CoreCivic Inc (CXW.N), but dozens are owned by smaller companies. GEO Group and the U.S. Department of Justice did not immediately respond to requests for comment. Immigrant advocates have said private facilities often are overcrowded and understaffed, subjecting detainees to inhumane conditions. While campaigning for the 2020 election, Biden said he wanted to end the use of private detention centers to house immigrants. California's law prohibits the operation of any private detention facilities in the state, including prisons, but the lawsuits only challenged the ban on immigrant detention centers.
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