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LOS ANGELES (AP) — A Los Angeles County coroner's investigator has been arrested on suspicion of stealing a gold chain and crucifix from around the neck of a dead man, prosecutors said Wednesday. The suspect, a 34-year-old man, faces one felony count of grand theft and one misdemeanor count of petty theft, the district attorney's office said in a statement. The suspect, employed by the Medical Examiner’s Office since 2018, had handled the man’s death investigation. District Attorney George Gascón said the allegations represent a violation of trust the community places in the Medical Examiner's Office. Chief Medical Examiner Dr. Odey Ukpo said his office was cooperating with the investigation.

Persons: George Gascón, Gascón, Odey Ukpo Organizations: ANGELES, Medical, Office Locations: Los Angeles County

☆ US stocks are on their longest winning streak in 2 years – but the Fed and an earnings slowdown still linger as threats, analysts warn
▼ + stars: | 2023-11-08 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

The S&P 500 and the Nasdaq Composite indices have notched their longest winning streaks in two years. Some on Wall Street think the rally can last – but others are still fretting about a potential correction. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The benchmark S&P 500 gauge has climbed 6% since October 27, while the tech-heavy Nasdaq Composite is up 8% over the same period. AdvertisementAdvertisementThe rally has been a welcome development for investors after a rough couple of months for stocks.

Persons: Stocks, —, Bilal Hafeez, Morgan Stanley's, Mike Wilson –, –, David Donabedian Organizations: Nasdaq, Service, Federal Reserve, CIBC Private Wealth

☆ Jamie Dimon warns conflict in the Middle East could trigger the most serious global crisis since World War II
▼ + stars: | 2023-11-07 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Wars in Ukraine and the Middle East have pushed the world to the brink of a grave crisis, Jamie Dimon said. "Geopolitical matters are very serious – arguably the most serious since 1938," he told the Sunday Times. AdvertisementAdvertisementConflicts in Europe and the Middle East risk triggering the most serious global crisis since the Second World War, Jamie Dimon has warned. AdvertisementAdvertisementFinancial markets have largely shrugged off the conflict in the Middle East, one month after Hamas' strike on Israel. This isn't the first time the JPMorgan boss has warned the conflict in the Middle East is a threat to the world economy.

Persons: Jamie Dimon, —, Dimon Organizations: Sunday Times, JPMorgan, Service, JPMorgan Chase, Hamas, Federal, West Texas Locations: Ukraine, Europe, Nazi Germany, Czechoslovakia, Israel, Brent, Iran

☆ Taylor Swift and Beyoncé won't prop up the US economy much longer, with Americans' COVID-era savings running dry
▼ + stars: | 2023-11-06 | by ( George Glover | ) www.businessinsider.com time to read: +5 min

But economists are warning the bump in growth won’t last forever, with Americans’ COVID-era savings running dry. AdvertisementAdvertisementTaylor Swift, Beyoncé, and the "Barbenheimer" box-office craze all gave the American economy a much-needed boost this summer. AdvertisementAdvertisementFunflation won't lastAmericans' summer spending splurge on concert and film tickets didn't come out of nowhere. "You've run down the savings rate so a lot of people have basically been spending well beyond what they've been earning. That's why the Taylor Swift economy isn't likely to last.

Persons: Taylor Swift, ’, —, Marc Ostwald, Anna Wong, Eliza Winger, they've, You've, that's, Freddie Mac, Beyonce Organizations: Service, ADM, Services International's, Bloomberg, ADM ISI's, Federal Reserve Locations: American

☆ China suffers its first foreign investment deficit as US tensions and anti-spying laws spark a western exodus
▼ + stars: | 2023-11-06 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

China just posted a quarterly foreign investment deficit for the first time. Officials have released foreign direct investment figures each quarter for the past 25 years – and it's the first time the gauge has turned negative, Reuters reported. The deficit suggests that western countries and companies are shunning China with Sino-US tensions steadily rising and new anti-spying laws spooking international investors. Analysts flagged that clampdown as one factor driving the decline in foreign direct investment. The foreign direct investment deficit is far from the only economic headache that Beijing faces.

Persons: China's, —, Joe Biden, Duncan Wrigley, Mark Mobius, he'd Organizations: Service, State Administration of Foreign, Reuters, Analysts, Macroeconomics, Bloomberg, " International, Micron, Bain, Co Locations: China, Beijing, Shanghai

☆ Ozempic and other weight-loss drugs will power the anti-obesity market to 16-fold gains by 2030, Goldman Sachs says
▼ + stars: | 2023-11-04 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The anti-obesity market could become a $100 billion industry by 2030, Goldman Sachs predicts. The rise of GLP-1 weight loss drugs has meant big gains for Novo Nord Nordisk and Eli Lilly. AdvertisementAdvertisementThe anti-obesity market is primed for a massive surge over the next six years, according to Goldman Sachs. Such a gain would push its total valuation from $6 billion to as much as $100 billion. Meanwhile, Barclays and Berenberg have predicted the market's value could climb to $100 billion and $85 billion respectively.

Persons: Goldman Sachs, Eli Lilly, —, they're, Chris Shibutani, Morgan Stanley Organizations: Novo Nord Nordisk, Service, Denmark's Novo Nordisk, Barclays, Berenberg

☆ Elon Musk says Tesla can hit $4 trillion valuation forecast by billionaire investor Ron Baron over the next decade
▼ + stars: | 2023-11-02 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Tesla's total market capitalization can swell to $4 trillion over the next 10 years, Ron Baron said Wednesday. CEO Elon Musk agrees with the billionaire investor's forecast. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementLegendary growth investor Ron Baron believes that Tesla's total market capitalization could swell to an eye-popping $4 trillion over the next decade – and Elon Musk agrees.

Persons: Ron Baron, Elon Musk, —, –, Baron, Musk, Tesla Organizations: Service, MarketWatch, SpaceX, Big Tech Locations: Refinitiv

☆ All the signs are pointing to a recession that'll cost Americans their jobs, veteran bond investor Jeff Gundlach says: 'Layoffs are coming'
▼ + stars: | 2023-11-02 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

AdvertisementAdvertisementThe US economy is clearly headed toward a recession, veteran bond investor Jeff Gundlach has warned. "The shape of the yield curve is extremely unstable at this time," Gundlach told CNBC's "Closing Bell". AdvertisementAdvertisementRecessions typically happen when the yield curve de-inverts after being inverted for around a year, Gundlach noted. The US Treasury bond curve inverted back in mid-2022, but has pared much of that move since the middle of this year. AdvertisementAdvertisement"I really believe that layoffs are coming," Gundlach told CNBC.

Persons: Jeff Gundlach, —, Gundlach, CNBC's, what's, October's Organizations: DoubleLine, Service, US Treasury, Big Tech, CNBC

☆ Goldman Sachs just promoted 608 employees to the coveted role of managing directors. See the full list here.
▼ + stars: | 2023-11-02 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +14 min

Goldman Sachs announced its 2023 class of managing directors Thursday afternoon, giving 608 employees the coveted title. It's a smaller cohort than the bank's 2021 MD class, down 5% amid a dealmaking slowdown. Still, Goldman appears to have taken pains to promote employees in revenue-generating divisions like investment banking and trading. Goldman says the percentage of women it promoted as part of the 2023 MD class sets a record, up 1% from 2021. Two years ago, Goldman promoted the largest managing director class in its history, naming 643 employees to the designation in 2021.

Persons: Goldman Sachs, Goldman, David Solomon, John Waldron, we've, Solomon, Waldron, Goldman Sachs Fereshteh Abbasi Thomas Abe Devina Abreo Francesca Adamski Emmanuel Adenitire Gopal Agarwal Prasoon Agarwal Udit Agrawal Khamran Ali Omar Alzaim Dorothee Amar Akbar Amin Joe Amsler Wilfred Amuri Jack Anstey Paul Antonios Hidemi Aoki, Carolina Aragon Gonzalez Nelson Armbrust Georgina Aspden Laurene, Gisha, Sharon Babick Navin Babu Alexey Bachurin Alberto Bacis Patrick Badaro Rahul Bajaj Elise Bal Tanya Ballaram Brian Baltz Guillaume Banderet Nirav Bansal Nitin Bansal Swati, Chalapathi, Andrei Banu Camella Barnes James Barry Elisa Anna Bassu Aman Batra Eleanor Beasley Nicole Beavan Michael Becker Yukiko Beer Omar Benchekroune Richard Bennett Nigel Beslee Ashima Bhalla Nikhil Bhandari Nimita Bhargava Bodha Bhattacharya Rebecca Bibb Roseline, Rahul Bindu Mark Bird Leo Biselman Christian Blanc Patrick Bogues Michael Boratin Katherine Bordlemay Gabriela Borges Kate Boucher Erik Bouland Joanne Braidi Chris Brett Joseph Briggs Charles Brockett Emmeline Brothers Aaron Brown Adrienne Brown Kevin Bryck Archana Budida Oliver Bunn Rebecca Burgoyne Andrew Burpitt Todd Byers Patrick Byrne Michael Cahill Ashley Caldwell Jake Caldwell Serdar Caliskan Jon Calluzzo Stewart Campbell Samantha Cantor Yuri Cantor Dan Carabas Gemma Carlaw Laura Carroll Tim Carson Matt Carter Quentin Cezard Alex Cham Simon Chamama Heidi Chan Patrick Chan Suraj Chandran Kim Cheah Jon Cheh CP Chen Nelly Cheng Sarrah Cherhabil Jackson Cheung Michael Cheung Rama, Stan Chiu Anish, Kunal Choraria Ankit Chowdhari Dario Claus Cosimo Codacci, Michael Coleman David Collerd Shannon Collins Francesca Condini Lee Coppersmith John Couch Tim Creamer Maziar, Satish Damodaran Gareth Davies Serkan, Nick De Kock Ann de la, Nick De Kock Ann de la Montaigne Jan Debeuckelaer Molly Decker Gabrielle Decrion Laurent Dedieu Antoine Demongeot Yannick Derippe Deepalakshmi Desai Tim Desiano Joshua Dezube Randeep Dhillon Javier Diaz, Merry Matheus, Jared Dickow Alex Doell Mao Dong Praneil Doolabh Daniel Dooling Michelle Dorea Szymon Doroz Jacqueline Du Benjamin Duell Kelsey Dumont Julie Duval Todd Ebe Dayo, Jeremy Eisenstein Chris Elmore Ryan Erickson Joaquin Escribano Larry Estrada Pavel Fadeev Will Fairbourn Jeremy Falgiani Fabio Federici Wenlong Fei David Felman Sophia Ferguson Zach Fernandez David Fernandez Miguez Scott, William Fio Rito Duffy Fischer Lisa Florentine Akshay Fomra Janice Foo Nicholas Forbat Elie Franko Georgina Fraser Jason Freeman Nicole Freeman Oliver Friedberg Gavriel Friedland Ross Fuller Angela Fung Greg Furness Nikhil Gadodia Stefano Gamba Amit Singh Gambhir Javier Gandara Giorgio Gandola Amit Gangrade Sudha Garimella Mima Garland Mingmin Ge Graziano Gemma Shefali Gera Constance Germain Brad Gifford Benjamin Giles Abbas Ginwala Marlene Giorgio Thomas Giovachini Zachary Glasser Guillaume Gnech Harley Golding Yuriy Goldman Jesse Goldstein Roy Golender Sharon Gonnella Alejandro Gonzalez Steven Gooden Jessie Gould Varun, George Graf von Waldersee Florian Granier Jamie Greenberg Brian Grzelakowski Alessandro Guicciardi Michael Guiliano Samuel Guinness Bivash Gunpath Deepa Gupta Parikshit Gupta Lauren Gutierrez Johannes Hahn Chris Hallam Alex Halpern Christina Halpin Michael Hamilton Brooke Hammel Saki Hanioka John Hanson Mathew Harris Ally Hart Amy Harwood Tom, Emily Hashimoto Rob Haslam Michael Heino Brandon Herde Sarah Higgins Camilla Hill Spencer Hill Sho, Cecilia Ho Jonathan Ho Bryan Hoffman Kevin Hoffmeyer Eliza Hollyday Simon Holmes Mehdi, Lily, Derek Hu Jennifer Hui Tim Huiszoon Camille Humbert Kurt Humes Kelley Hutchison Masayuki Ichioka Andrew Imber Calvin Isaac Jackson Isaacs Sharif Ismail Yu, Doug Michael Jaffa Nitin Jagga Rahul Jain, Jataprolu Fiona Jervis Yinpeng Jin Sandeep Jindal Jennifer Jochinger Steven Johnson David Johnstone Megan Jordan Nicolas Joseph Bob Kadel Jean Kam Harneet Kaur Vinay Kaura Peter Kelman Stephanie Kenary Maggie Keohan Humayun Khalid Sunil Khandelwal Scott Kilpatrick Jenny Kim Ashley King Joel Klaus Rene Klos Rossitsa, Michael Kondoleon Gregory Kontopoulos Larry Kornreich Shrivathsa Kota Konrad Krallmann Ken Kraska Alexander Kretzberg Bryant Krongard Simon Kubbies Adam Kulik Peter Kulka Ajeya Kumar Aditya Kurella Sara Lachapelle Raagini, Langalia Chaim Langer Alexander Langley Raven LaRue Dolapo Lawal Claire Leblanc, Langalia Chaim Langer Alexander Langley Raven LaRue Dolapo Lawal Claire Leblanc Mary LeDonne, Allison Lee Michael Lee Soohyun Lee Victoria Lewis Alice Li Qing Li George Lin Ali Lippert David Lipworth Bozhena Lisko, Murphy Mark Littlewood Zhenyi Liu Yelli Lobel Avinash Lobo Burke Loeffler Gabriela Lopez Cristian Lopez, Balboa Carlos Lopez Torrero Stephanie Louie Edward Lowe Reynolds Lowry Fei Luo Ranjan Luthra Sangeetha M Martin Ma Matthew Maciaszek Michael Magee Steffen Mahringer Poonam Majithia Terres Maloney Gopal Manchikanti Jade Mandel, Manfay Varun, Pierre Marboeuf Matt Margolin Thiago Marinheiro Kevin Martens Masato Maruyama Lucinda Mataka Rishi Mathur Pierre Maugest Scott Maxfield Andrei Maxim Michael McClurg Selina McCole Jeff McCown Andrea McGee Sinead McGuigan John McGuinness Benjamin McRoberts Amit Mehrotra Gaurav Mehta Kelly Mellecker Josef Menasche Raf Mercado Alexander Mielke Rachel Miles Christopher Miller Megan Miller Robert Miller Max Minton Edward Mitchell Oliver Money Tyler Moni Anna Montvai Taylor Moore Anthony Moschella Brandon Moy Faraz Munaim Sasha Munn Ashok Musuvathy Negar, Julian Naden Robinson Hiroki Nagamine Srijith Nair Cornelius Namiluko Sanjiv Nanwani Jay Narain Robert Andranik Nazarian Jovan Negovan Ryan Newman Michael Ng, Tasuku Nishihara John Nixon Kristy Nomi Alexandre Nunes Patrick O'Callaghan Yusuke Ochi KC O'Connor David Olivares Erica Olsen Victoria Ortengren Anas, Peter Pace Robert Packwood Nitin, Ellen Pak Ruth Pan Pedro Panizo Jayshri, Rahul Parikh Dan Parisi Freddie Parker Phil Parsons Peter Paruch Paul Pate Bella Patel Preya Patel Rakesh Patel Amit Patni Ed Paulinski Adam Pennacchio Kyle Penton Abhishek Periwal Michael Perrier Yoric Perrin Rasmus Persson Tommy Pinhas, Marco Poletti Megan Prasad Avijit Praveer James Puccinelli Sameer Punde Rob Pyne Na Qiao Valentina Quadri Marco Quirico Anya Radford Abhishek Rai Rahul Raj Ram Rajamony Ryan Ramsay Rami Rankoussi Nach Rao Pawan Rao Anurag Rathi Philip Renton Noel Reyes Ruth Reynolds Timothy Richards Peter Richter Brigid Riley Hutchinson Nick Rill Kristina Ristagno Vicky Ritter Martin Roberson James Roberts James Robinson Giorgio, Erin Roos Erin Ross Sumit Roy Conrad Ryan Soo, Ryu David Sage Jai Sahani Namita, Sarah Sakkej Karim Saleh Ayesha Salman Divya Samani Henrik Samuelsson Ryan Sansalone Vikram Sarker Shalini Satish Babu Charlotte Saury, Hania Schmidt Helene Schmitt Emily Schorr Wendy Schrunk Thomas Schwegler Michael Sciancalepore Brandon Seaman Benjamin Seigel Gamal Selvarajah Nicholas Semeniuk Devjoy Sengupta Michael Shafik Arpan Shah Shashwat Shah Shahnawaz Shahbaz Manoj Sharma Sachin Sharma Wazila, Gunduz Shirin Alex Silver Asmita Singh Kamalpreet Singh Andrew Sinnott Sapna, Dan Skinner Andrew Snow Stephanie Snyder Farouk Soussa Christopher Spahr Erik Sparks Matt Speltz Naveen Srinivasan Bhargav, Warren, Damian Steele Tobias Stein Catherine Stemp Dave Stringer Shekar Subramanian Jordan Sudy Philipp Suess Fatima Sultana Lu Sun Kumar Sundaram Fiona Syer Matthew Sykes Tofi, Filippo Taddei Sandhya Tadishetty Omer Tanvir Rita Taylor Zachary Tcheyan Brian Teague Wesley, Caitlin Terry Thomas Tesauro Hemal, Justin Therry Christine Thornburg Gregory Thysheril Angelo Tierno Alexander Tingle Ryan Townsend Cynthia Trillo Dimitris, Jessica Tung Jonathan Tung Ezgi, Zachary Upcheshaw Kiyomi, Nadine Urseanu Jim Vais Pim Valantagul Perrin Van Allen Annerieke van Dijk Jeroen van Dorp Dennis van Laer Todd van Stolk, Riley Jacqueline Vargas Alexander Vavalidis Edwin Velez Prasanna Venugopal Tim Verheyden Amanda Verstegen Ankit Vijay Vargiya Salvador Villanueva Arthur Villard Sichel Denzel Voesenek Bradley Wainwright Adam Walker Barbara Walters Omar Waly Daniel Wang Kenneth Wang Kristen Ward Gavin Warren Michael Washington Harry Webster Fredrik Weege Brian Weiss Thomas Weitz Nat Wells Joe Wenzel Tim Whitehead Henry Willans Matthew Williams Taylor Williams Katie Wilson Richard Wilson Stephanie Wisner Ilana Wolfe Jake Woodson Jeff Wu Qi Wu Jackson Yang Esma, Yoon Harm, John Zhai Jenny Zhang Lynn Zhang Raye Zhu Jane Zhuang Hans Zijlmans Carolyn Zimmer Samia Zitouni Mira Zorkot Organizations: Goldman, Wall, Carolina, Nick De Kock Ann de la Montaigne, Langalia Chaim Langer Alexander Langley Raven LaRue Dolapo Lawal Claire Leblanc Mary Locations: Europe, Asia, India

☆ WeWork commanded a $47 billion valuation at its peak. It's crashed over 99% since then - and could now file for bankruptcy, reports say
▼ + stars: | 2023-11-01 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

WeWork is planning to file for bankruptcy, according to multiple reports. The commercial real-estate start-up achieved a $47 billion valuation in 2019, after receiving investment from SoftBank. But its shares have cratered 99% since it made its stock-market debut in March 2021. WeWork reached a peak valuation of $47 billion back in January 2019, after netting $5 billion worth of direct investment from SoftBank. Between January 2019 and now WeWork's market capitalization has fallen from $47 billion to just $140 million – a staggering $46.9 billion wipeout that could extend even further if the bankruptcy reports prove to be true.

Persons: WeWork, —, Adam Neumann, Vivek Ranadivé Organizations: Service, Street Journal, Reuters, SoftBank, Sacramento Kings Locations: SoftBank, Wednesday's premarket

☆ The US economy is surging – but problems elsewhere could still torpedo profits for big companies like Apple and Tesla
▼ + stars: | 2023-11-01 | by ( Huileng Tan | George Glover | ) www.businessinsider.com time to read: +6 min

The US economy is surging, with growth coming in at a hotter-than-expected 4.9% for the third quarter. But problems elsewhere could still be bad news for big US companies, including Apple and Tesla. China's slowing economy and the war between Israel and Hamas are both potential headwinds, according to analysts. AdvertisementAdvertisementThe China challengeThat's bad news for mega-cap US firms such as Apple and Tesla, which count the Asian nation as a major market. On balance, risks to global growth continue to be skewed to the downside," the International Monetary Fund said in its Global Financial Stability report published last month.

Persons: —, Ukraine — that's, headwinds, Goldman Sachs, GfK, Michael Field, it's, Tom Donilon, Susan Li, Li Organizations: Apple, Service, Nvidia, Intel, Nike, China —, Morningstar Research, stoke, of America, DuPont, Procter, Gamble, International Monetary Fund Locations: Israel, China, Ukraine, Beijing, BlackRock, Iran

☆ Cryptoverse: As good as gold? Spot bitcoin ETFs aim to whip up US demand
▼ + stars: | 2023-10-31 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +5 min

Mainstream investment giants such as BlackRock (BLK.N) and Fidelity, as well as crypto-focused firms like Grayscale, have filed applications for spot bitcoin ETFs. U.S. crypto firm NYDIG estimates demand for a spot bitcoin ETF at around $30 billion. Their calculation compares the sizes of the gold and bitcoin ETFs - $210 billion versus $28.8 billion, respectively - and adjusts them for their relative volatility. BlackRock declined to comment on its pending spot bitcoin ETF, other than to confirm that it is still awaiting final SEC approval. His forecast is based on how demand evolved in smaller markets where spot bitcoin ETFs already exist, such as Canada.

Persons: Dado, Dave Mazza, George Gagliardi, cryptocurrencies, bitcoin, Todd Sohn, Steven McClurg, Crypto, Matthew Sigel, Matthew Hougan, Steve Sosnick, Suzanne McGee, Ira Iosebashvili, Michelle Price Organizations: REUTERS, Roundhill Investments, Fidelity, U.S . Securities, Exchange, Coromandel Wealth Management, Strategas Securities, Boston Consulting, BlackRock, SEC, Bitwise Investments, Interactive, Thomson, Reuters Locations: U.S, BlackRock, Lexington , Massachusetts, Canada

☆ Brace for 8% mortgage rates to drag the US housing market into a 1980s-style recession, Wells Fargo warns
▼ + stars: | 2023-10-31 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

The US housing market looks like it's headed for a recession, Wells Fargo has warned. AdvertisementAdvertisementThe Federal Reserve's aggressive interest-rate hikes could be about to trigger a housing-market recession that echoes the slowdown of the 1980s, Wells Fargo has warned. "Although mortgage rates may gradually descend once the Federal Reserve begins to ease monetary policy, financing costs are likely to remain elevated relative to recent norms," they added. Please Lower Interest Rates." AdvertisementAdvertisement"The plea for assistance from housing industry participants, both in the early 1980s and more recently, illustrates the severe impact higher interest rates can have on the residential sector," Dougherty and Barley wrote.

Persons: Wells Fargo, —, Charlie Dougherty, Patrick Barley, Freddie Mac, Jackson, Paul Volcker, National Association of Homebuilders, Jerome Powell, Dougherty, Barley Organizations: Service, Federal, Fed, Wells, National Association of Realtors, Mortgage Bankers Association, National Association of Locations: Redfin

☆ The 'Magnificent 7' stocks are struggling, shedding a staggering $1.2 trillion in market value since US equities peaked in July
▼ + stars: | 2023-10-27 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

After a stunning first-half rally, the so-called "Magnificent Seven" mega-cap Big Tech stocks have struggled in recent months. Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla have lost a whopping $1.2 trillion in market value since the end of July, per data from Refinitiv. Investors' fears about the Fed's rate hikes and spiking bond yields have fueled the sell-off. AdvertisementAdvertisementThe mega-cap Big Tech stocks that started 2023 on a tear are now struggling, racking up trillion-dollar losses for their shareholders as Wall Street frets about higher interest rates and soaring bond yields. AdvertisementAdvertisementThe other Magnificent Seven stocks have also struggled since the end of July.

Persons: Tesla, —, Elon Musk Organizations: Big Tech, Apple, Microsoft, Nvidia, Meta, Refinitiv, Service, Google, Facebook, Federal Locations: China

☆ Amazon's market value set to jump $60 billion after strong third-quarter earnings smash Wall Street's expectations
▼ + stars: | 2023-10-27 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Strong sales numbers for Amazon's cloud division also helped push the stock higher. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementAmazon's market cap looked set to surge Friday after the online retail giant's third-quarter earnings beat Wall Street's expectations. If those gains hold up until the closing bell, Amazon's value will swell by about $60 billion to $1.3 trillion, per Insider's calculations. "Thin margins in Amazon's retail business makes cloud so much more important than it does for the other tech companies, whose broader business models are a lot less capital intensive."

Persons: —, Wall, Hargreaves, Sophie Lund, Yates Organizations: Service, Amazon, LSEG, AWS, Microsoft

☆ Stocks will rally sharply when Israel's ground invasion of Gaza kicks off, veteran investor says
▼ + stars: | 2023-10-26 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Stocks will rally, rather than plunge, if Israel sends troops into Gaza, according to one market veteran. Anderson's view clashes with the consensus on Wall Street, where investors are worried the Middle-Eastern crisis could escalate into a wider conflict. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementWall Street is fretting about Israel launching a ground invasion of Gaza – but one veteran investor thinks it could set the stage for a stock-market rally.

Persons: Tim Anderson, —, who's, Anderson, Greg Daco Organizations: Service, TJM Investments, Fox Business, Hamas Locations: Israel, Gaza, Iran

☆ Don't expect house prices to fall this winter, says Goldman Sachs economist
▼ + stars: | 2023-10-26 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

And there's no relief coming for prospective homebuyers this winter, says a Goldman Sachs economist. "Prices are unlikely to decline meaningfully" because of the supply shortage, said David Mericle. AdvertisementAdvertisementProspective homebuyers shouldn't count on prices falling this winter – because there just aren't enough properties being put up for sale, according to a top Goldman Sachs economist. "Prices are unlikely to decline meaningfully, precisely because of the supply shortage," David Mericle, the chief US economist for the bank's global investment research division, told Yahoo Finance . But because of the supply shortage, I think the demand is still there for the market to clear at prices similar to where we are," Mericle said.

Persons: Goldman Sachs, David Mericle, —, Mericle, Freddie Mac – Organizations: Service, Yahoo Finance, Biden Administration, National Association of Realtors

☆ Meta stock's bad run continues, with its market value wipeout deepening to $60 billion on execs' warning of an advertising slowdown
▼ + stars: | 2023-10-26 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

The Big Tech giant beat analysts' forecasts, but execs warned of a fourth-quarter slowdown in advertising revenues. Meta is on a bad run, with its market value on pace to fall $60 billion in the space of four trading sessions. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementMeta Platforms' stock price slipped in premarket trading Thursday, with so-so earnings failing to stop a bad run for the Big Tech giant. Meta's losses Thursday threaten to extend the tech firm's bad run this week.

Persons: —, Susan Li, Li Organizations: Big Tech, Meta, Service, London Stock Exchange Group Locations: Thursday's, Israel

NEW YORK (AP) — On the 400th anniversary of Shakespeare's First Folio, rare originals are being displayed and publishers are offering collectors editions of Shakespeare's plays, including one that sells for $1,500. The British Museum is collaborating with Rizzoli Books in New York on “Shakespeare’s First Folio: 400th Anniversary Facsimile Edition,” contained within a slipcase cover. Besides Doran's introduction, the Folio Society release includes a foreword by Dame Judi Dench. “In an era when everything seems disposable, I feel like there's a good market for fine editions of classic books,” says Folio Society publishing director Tom Walker. “You can buy a Ben Jonson folio for a few thousand dollars; a Shakespeare folio will cost you millions.

Persons: Shakespeare's, Mr, William Shakespeares, Shakespeare, “ Macbeth, ”, ” Gregory Doran, Adrian Edwards, George R.R, Martin's, Dame Judi Dench, Neil Packer, “, Tom Walker, Chris Laoutaris, Ben Jonson, Benjamin Jonson ”, Henry, Emily Folger, Sir George Grey, ” Laoutaris, ’, James Shapiro Organizations: Royal Shakespeare Company, British Museum, New York Public Library, British, Rizzoli Books, Folio Society, Folio, Shakespeare Institute, Avon, Columbia University Locations: New York, London, playwright's, Stratford, British, Australia, New Zealand, South Africa, United States, United Kingdom, Japan, Germany, France

☆ Warren Buffett shared timeless investment wisdom in his first-ever national TV interview nearly 40 years ago. Here are the best 9 quotes.
▼ + stars: | 2023-10-21 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Here are the best quotes Buffett dropped in his first TV interview from nearly 40 years ago. The real test of whether you're investing from a value standpoint or not is whether you care whether the stock market is open tomorrow. If you're making a good investment in a security, it shouldn't bother if they closed down the stock market for five years." There are all kinds of things I don't know about, and that may be too bad. They may be wonderful pitches to swing at, but if you don't know enough, you don't have to swing.

Persons: Warren Buffett, Adam Smith's, Buffett, —, Berkshire Hathaway, George Goodman Organizations: Berkshire Hathaway, PBS, Service, Wall Street, IBM, Marvelous Locations: Berkshire, Omaha, Wall Street Nebraska, York

☆ The US government owns $5.5 billion worth of bitcoin. Whether it holds or sells its stash could have a big impact on the token's price.
▼ + stars: | 2023-10-21 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The US government has seized at least $5.5 billion worth of bitcoin since 2020, according to analysts. Its stake makes it one of the world's largest crypto "whales". Whether it holds or sells its bitcoin stash could have a huge impact on the token's price. AdvertisementAdvertisementThe US government owns billions of dollars worth of bitcoin – and whether it decides to hold or sell could have a big impact on the cryptocurrency's price. Lower volatility means that whales can drive big swings all by themselves – so what the government decides to do with its $5.5 billion stash could have a major impact on bitcoin's price.

Persons: —, James Zhong, Sam Bankman Organizations: Service, Washington, Wall Street Locations: Washington, Coinbase

☆ Elon Musk's next headache after Tesla's earnings flop could be users ditching X over Israel-Hamas misinformation, Nobel economist Paul Krugman says
▼ + stars: | 2023-10-20 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Elon Musk, already reeling after Tesla's earnings flop, could see X users ditch his platform. Israel-Hamas misinformation might be a "tipping point" for the social-media site, Paul Krugman says. The Nobel laureate expects X users to start leaving for rival platforms like Threads and Bluesky. AdvertisementAdvertisementElon Musk is already reeling after Tesla's earnings miss slashed its stock price by 9% on Thursday. Things could go from bad to worse for the tech billionaire, as the spread of misinformation about the war between Israel and Hamas could drive people away from his X platform, according to Paul Krugman.

Persons: Elon Musk, Paul Krugman, —, Krugman, Jack Dorsey, Sander van der Linden, Musk Organizations: Service, European Union, New York Times, Meta Locations: Israel

☆ The US debt mountain is growing so fast the government could soon be spending more on interest payments than on defense
▼ + stars: | 2023-10-20 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The government is likely to spend more on interest payments than on defense over the next five years, per Capital Group. AdvertisementAdvertisementThe US's mountain of debt is growing every day – and the government could soon be spending more on interest payments than on defense, according to Capital Group. "Over the next five years, net interest payments on the debt are expected to surpass defense spending." Capital Economics, Congressional Budget OfficeThe idea that interest payments could soon surpass defense spending could be a source of concern for policymakers, with President Joe Biden pledging Monday to ask Congress for over $100 billion worth of funding to support both Israel and Ukraine. "Slower economic growth also could be expected, given that government spending would need to be re-routed to debt service," he added.

Persons: —, Darrell Spence, Spence, Joe Biden Organizations: Group, Treasury, Service, Capital Group, Congressional, Office, Capital Economics, Federal Reserve Locations: Israel, Ukraine

☆ Netflix's total valuation is set to balloon by over $20 billion after the streaming giant said subscriber numbers had soared
▼ + stars: | 2023-10-19 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

The streaming giant posted an earnings report that met Wall Street's expectations and announced a spike in subscriber numbers. Netflix also announced it would immediately raise prices for its basic and premium plans. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementNetflix's stock price climbed higher in premarket trading Thursday, after the streaming giant announced a big jump in subscriber numbers. Its revenue of $8.54 billion for the three months ending September 30 was also in line with Wall Street's expectations.

Persons: —, Refinitiv, Hargreaves, Sophie Lund, Yates Organizations: Netflix, Service, Subscribers, Blockbuster, Sex Education

☆ Oil prices jump again as explosion at Gaza hospital jacks up tensions in the Middle East
▼ + stars: | 2023-10-18 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The flare-up came after an explosion at a Gaza hospital fueled investors’ fears that the crisis in the Middle East will escalate. AdvertisementAdvertisementOil prices flared up again Wednesday after a devastating explosion at a hospital in Gaza fueled investors' fears that the ongoing crisis in the Middle East will escalate. The commodity's next move will be driven by how Joe Biden responds to the hospital explosion, according to analysts. "Oil prices rallied 2% following the deadly explosion at the Gaza hospital as it boosts tensions across the Middle East just before the arrival of US President Joe Biden," deVere Group CEO Nigel Green said. AdvertisementAdvertisement"Clearly, the US is a major influence in the Middle East due to its economic interests, military presence, national security concerns, strategic alliances, and diplomacy efforts," he added.

Persons: Brent, —, Joe Biden, Biden, Jordan, Nigel Green, – Organizations: Service, West Texas, Hamas Locations: Gaza, Israel, Palestine, Iran, Saudi Arabia, East

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