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Bloomberg
Dollar Climbs; UK Bonds Jump on BOE Purchase Plan: Markets Wrap
(Bloomberg) — The dollar rose to another record after the White House talked down the prospect of weakening the currency, while UK bonds surged after the Bank of England said it would buy long-dated government bonds in whatever quantities were needed to restore order to the market.Most Read from BloombergGermany Suspects Sabotage Hit Russia’s Nord Stream PipelinesApple Ditches iPhone Production Increase After Demand FaltersAlzheimer’s Progression Slowed by Drug in Major TrialPutin’s Mobilizatio
TheStreet.com
Warren Buffett’s Berkshire Makes List of Undervalued, Stocks
The CBOE Volatility Index has skyrocketed 89% so far this year. Morningstar put together a list of stocks with one- and three-year betas of 0.8 or lower. Then it screened for stocks that are undervalued, according to Morningstar analysts’ fair value estimates.
Reuters
Apple worsens selloff in beleaguered growth stocks
Bloomberg earlier reported that Apple had told its suppliers to curtail efforts to increase the assembly of its iPhone 14 lineup by as many as 6 million units in the second half of the year on disappointing demand. Other growth stocks including Microsoft Corp, Amazon.com, Google-parent Alphabet and Tesla Inc fell between 1.5% and 3% on the news. “Weaker consumer demand is to be expected when utility bills are going up, interest rates are going up, mortgage costs are going higher … discretionary spending is going to be curtailed by that,” said Patrick Armstrong, chief investment officer at Plurimi Wealth in London.
Reuters
Biogen, Eisai stocks soar on landmark Alzheimer’s data, lift rivals
(Reuters) -Shares in Biogen Inc and Japanese partner Eisai skyrocketed on Wednesday, as a surprise trial success of their experimental Alzheimer’s drug was hailed as an unequivocal win by Wall Street analysts. The trial results released on late Tuesday could mark a rare victory in the search for a treatment for the memory-robbing disease after years of clinical failures. Biogen’s stock surged 46.6% to $290.99 in premarket trading, putting it on track to add over $13.5 billion in market capitalization.
Bloomberg
NFT Trading Volumes Collapse 97% From January Peak
(Bloomberg) — Trading volumes in nonfungible tokens — digital art and collectibles recorded on blockchains — have tumbled 97% from a record high in January this year. They slid to just $466 million in September from $17 billion at the start of 2022, according to data from Dune Analytics. The fading NFT mania is part of a wider, $2 trillion wipeout in the crypto sector as rapidly tightening monetary policy starves speculative assets of investment flows.Most Read from BloombergGermany Suspects
TipRanks
These 2 Stock Giants Are Flirting With a Bottom; Analysts Say ‘Buy’
Anyone following stock market trends in 2022 will be well aware of the widespread drawbacks; apart from some outliers such as energy, most corners of the market have been beaten to a pulp. The main culprits are easily identified by now; a combination of a slowing economy, rampant inflation, rates hikes to halt it, and Russia’s invasion of Ukraine and the global implications are all responsible factors. Stock market giants have not been immune either and many have seen huge chunks of their valuat
Yahoo Finance
Tesla bear sees a 50% plunge in the stock
One of the biggest Tesla bears on Wall Street is sticking with his views as rising global recession risks place potential pressure on the EV maker’s top and bottom lines.
TipRanks
These 2 Stocks Are ‘Oversold Gems’ With Over 100% Upside Potential, Says Roth Capital
Barring selected periods of relief, the inherent trend of the stock market has been resolutely negative in 2022. For investors searching for ways to boost the portfolio’s performance, there have generally been slim pickings. But if you look on the bright side of a market situation where stocks are continuously pushed further down, what you get are some low and enticing entry points. Roth Capital’s tech and communications expert Scott Searle certainly thinks that with a bit of digging, investors
SmartAsset
You’ll Earn This Much Annually On $1.5 Million
Whether you’re saving to retire, or have just come into a nice windfall, knowing where to put your money to grow it is essential. There are multiple ways money can build interest, but how much interest does $1.5 million earn per … Continue reading → The post How Much Interest Can $1.5 Million Earn Per Year? appeared first on SmartAsset Blog.
Yahoo Finance
New home sales unexpectedly jump in August
Sales of newly constructed homes came at seasonally adjusted annual rate of 685,000, up 28.8% from July’s revised pace of 532,000.
MarketWatch
Medicare premiums are decreasing in 2023 – this is how much older Americans will save if they’re on Part B
Medicare beneficiaries will see their Part B premiums go down for the first time in more than a decade, President Biden said during a press conference on Tuesday. Monthly Part B premiums, which are currently set at $170.10 in 2022, will decline to $164.90 in 2023 – a $5.20 a month savings, or about $64 a year, according to the Centers for Medicare and Medicaid Services. The annual deductible for Part B will be $226, down $7 from $233 in 2022.
