Friday's nonfarm payrolls report easily beat Wall Street expectations but may not be quite what Wall Street wanted.» Read More
Word has spread that New Jersey governor Chris Christie will speak at a UBS conference on municipal bonds, according to people familiar with the matter.
Christie is one of the most in-demand political speakers in the nation these days. There is talk he could run for president on the GOP ticket, or perhaps be tapped as the running-mate of the nominee.
“Can you grab me a diet coke — and three grams of bullion?” (CNBC.com) Gold dispensing vending machines coming to U.S.
Morgan Stanley declined comments on a report from a rival network claiming the firm is considering layoffs or bonus cuts at year end.
A person close to the company says the firm has no plan to layoff any employees at year end. Having made deep cuts to headcount during the financial crisis the firm is comfortable with its employment levels in the institutional business. The source could not speak for the Salomon Smith Barney brokerage joint venture.
Last week, noted provocateur John Carney boldly suggested that hedge funds short gold into the recent rally.
Yes. But if shorting into a global rally of uncertain proportions is more than your stomach lining can handle … here are 3 other ideas to play the rally.
It's not exactly new material. The Merriam-Webster dictionary says the first known use of it was in 1982.
Like the bull market, we haven't seen a big push for faux leather or "pleather" in a long time. But, it's making a comeback. What polyester was to John Travolta in 1977, pleather may be to us in 2010.
Wall Street Strategies Research Analyst Brian Sozzi says retailers are betting heavily right now on the plastic leather for jackets and boots. The trend started last holiday season.
The kind of people who like to attribute movements of stock indexes to causal events were busy attributing Friday’s rally to the remarks of David Tepper on Squawk Box.
“Call it the Tepper rally,” Mark DeCambre of the New York Post wrote .
Tepper’s bullishness was based on his prediction that we’re facing two possible economic outcomes—either the economy recovers on its own or the Fed will step in to inject more money through quantitative easing.
If the economy recovers on its own, stocks will rise, bonds won’t do as well, and gold won’t do as well, Tepper told CNBC. If the economy double-dips, the Fed will renew its quantitative easing.
“If the very nature of these ‘creation units’ is beyond the comprehension of most investors, the actual mechanics of ETFs involve an even far more complex matrix of transactions.”
“By doing the only thing he can do in these ‘unusually uncertain’ times which is to assure investors that the Fed will step in and ‘provide additional accommodation’ if the outlook should deteriorate, Mr. Bernanke has convinced investors he’s holding a royal flush. And because investors are choosing to believe his bluff and that another round of quantitative easing will be launched to stimulate a slow economy if needed, investors are doing Mr. Bernanke’s bidding for him.”
— Abigail Doolittle, founder, Peak Theories Research
Fixed income desks are going to be subject to severe layoffs, according to a highly placed Wall Street insider with information about the plans of his firm and the plans of rivals.
"It's going to be a blood bath. Volume is down for everything except Treasuries and Munis. These guys aren't making money and soon they'll be out of their jobs," he said.
He is sitting in Grand Central's Oyster bar. It's an annual ritual for him: welcoming in September with a frenzy of shell fish and wine.
Typically he invites along a few friends and treats them to a discourse on the state of Wall Street.
The falling out between Bill Gross and his one-time partner Mohamed El-Erian has quickly turned into one of the ugliest bust-ups in recent history.
The founder of a hedge fund with $21 billion under management provided three investing rules and three favorite stocks.
Former executives at Dewey & LeBoeuf were accused of using accounting gimmicks to fool banks and investors.