Investors are rushing into the relative safe haven of the bond market, causing the yield on the U.S. 10-year Treasury to plummet.Real Estateread more
Stocks fell sharply on Thursday as investors started to fear the U.S.-China trade war is slowing the economy.Marketsread more
The charges allege he published secret documents obtained by former Army intelligence analyst Chelsea Manning, some of which included the disclosure of foreigners who were...Politicsread more
See which stocks are posting big moves after the bell on Thursday, May 23.Market Insiderread more
Wall Street is becoming convinced that both the White House and Beijing are willing to engage in a protracted trade war that could begin to hit consumers and slow global...Market Insiderread more
Sentiment is "not negative enough to trigger a huge rally ... unless we get some kind of real breakthrough with China," Jim Cramer says.Mad Money with Jim Cramerread more
Oracle co-founder Larry Ellison disclosed a $1 billion stake in Tesla in late December. It's now worth about $580 million.Technologyread more
Investors rushed into the safety of bonds Thursday and sold stocks, as it appeared the trade war could be prolonged and more painful for the world economy than expected.Market Insiderread more
The e-mail's optimistic tone helped Tesla shares turn positive for the first time in seven days.Technologyread more
The president signaled that he is open to negotiating U.S. restrictions on the Chinese telecom giant as part of a broader trade deal, even as he called Huawei a "very...Politicsread more
"We still haven't seen the big estimate cuts that we can expect from the analysts who weren't expecting President Trump to keep raising tariffs," Jim Cramer says.Mad Money with Jim Cramerread more
U.S. stocks have been on a tear in the past year, but Wall Street legend Byron Wien thinks a correction will hit the market this year. He also sees bitcoin coming under the regulatory microscope and the Trump family surviving Robert Mueller's investigation.
Wien, a vice chairman at Blackstone and a 50-year veteran of Wall Street, said in his annual list of market surprises that speculation in the market could reach an extreme in 2018 as the U.S. economy has a better year than 2017, pushing the S&P 500 down toward 2,300. The S&P 500 traded at 2,691 on Tuesday, more than 14 percent above 2,300.
Wien has been publishing his list of surprises since 1986. He defines a "surprise" as something the average investor would assign only a 33 percent chance of taking place, but which he thinks has a more than 50 percent chance of happening.
The S&P 500 rose 19.4 percent in 2017 and hit record highs. The broad stock index also hasn't experienced a 10 percent correction since January 2016.
Wien also said higher interest rates could contribute to the S&P 500's correction this year. The Federal Reserve expects to raise rates three times this year as it rolls back the stimulative policies it implemented after the financial crisis. The central bank hiked rates three times last year.
Another surprise listed by the Wall Street legend is regulators scrutinizing bitcoin more closely. Wien said the risks in the cryptocurrency "are so great" that authorities could start to restrict trading.
"Among their concerns are: no regulatory oversight; no safety and soundness measures; no recourse in the event of mistaken or miscalculated transactions; high cyber risk; no deposit insurance," he said.
Bitcoin skyrocketed 1,289 percent last year, according to the Coindesk price index.
Another surprise listed by Wien is special counsel Robert Mueller's investigation not implicating the Trump family in "collusion with Russian operatives" regarding the U.S. election.