May had failed to win a parliamentary majority on Britain's withdrawal from the European Union.Europe Politicsread more
Facebook's founder Mark Zuckerberg has held talks with the Winklevoss twins, his old rivals, about the social media giant's developing digital currency, the Financial Times...Bitcoinread more
Analyst Michael Olson says he has "a high degree of confidence" that Amazon shares can reach the level without "significant changes to the business."Investingread more
House Judiciary Committee Chairman Jerry Nadler says Mueller told the committee he would make his opening statement before the public.Politicsread more
The retailer is under pressure as shoe companies, like Nike, have worked to sell directly to its customers, bypassing retailers all together.Footwearread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
A downgrade from BMO analysts led to an unsavory drop in Chipotle's stock, and some analysts are advising waiting out the weakness.Trading Nationread more
Breaking up the social network won't lead to better data protection, said former Facebook executive Chris Kelly.Technologyread more
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
Sears opens its first Home & Life stores and plans to open more as it looks for a fresh start after bankruptcy.Retailread more
New orders for U.S.-made capital goods fell more than expected in April, further evidence that manufacturing and the broader economy were slowing.Economyread more
Paul Tudor Jones, the legendary hedge fund manager who called the October 1987 crash, believes the stock market will rally near the end of this year.
"I think we'll see rates move significantly higher beginning some time late third quarter, early fourth quarter," Jones said Tuesday in a CNBC "Squawk Box " interview with Andrew Ross Sorkin. "And I think the stock market also has the ability to go a lot higher at the end of the year. ... I can see things getting crazy particularly at year-end after the midterm elections ... to the upside."
But he said the move higher will not be sustainable and higher interest rates will lead to an eventual recession. Jones compared the current period to 1987 in the U.S., 1999 in the U.S. and 1989 in Japan. Though he noted he doesn't believe there's a market crash coming like in 1987.
"I think this is going to end with a lot higher prices and forcing the Fed to shut it off," he said. "When you look at the stock market relative to GDP, we're at levels that historically in some other countries led to a blow-off [rally] and then some type of economic contraction. ... It's an old story, we'll probably play it again."
Jones said he does not have significant exposure to the financial markets due to the timing of his predictions.
"I have a feeling we're getting ready to go into a summer lull. ... I can't remember how many years it's been since I've been this light in my positions," he said. "I like to have significant leveraged positions when I think there is an imminent price move directly ahead."
Earlier this year in an interview with Goldman Sachs, the hedge fund manager also predicted a rise in inflation and a surge in the U.S. 10-year Treasury yield. He recommended investors stay in cash or buy commodities and "hard assets" at the time.
Jones rarely talks to the press. He has a net worth of $4.5 billion, according to Forbes.