Markets posted their fifth straight session of gains Thursday, bouncing back from a deep sell-off that sent the Dow into a correction. Jurrien Timmer, Director of Global Macro at Fidelity, breaks down why there has been such choppy trading in the markets.
Timmer says the two years leading up to the correction were unusually quiet due to the markets firing on all cylinders. Last August was a pivotal moment for markets because the chances of corporate tax cuts spiked. Timmer says another factor was the bond market because it was way too complacent about the possibility of rate hikes.
The VIX index, which serves as a "fear gauge" in markets, spiked in recent weeks. Timmer places the blame on hedge funds and traders who were short volatility. He added that the fundamentals of the economy are still relatively constructive and volatility will settle back down.
Adobe and Figma called off their $20 million merger, Southwest Airlines gets fined, Nippon Steel is buying U.S. Steel and oil and gas prices surge after a pause in shipments.
With more employees being called back to the office, many workers are suddenly protesting by being in the office for as little time as possible. As the term suggests, coffee-badging means coming in for just enough time to have a cup of coffee, show your face, and swipe your badge.
Japan's Nippon steel is buying U.S. Steel for $14.9 billion.
Southwest Airlines will pay a $35 million fine as part of a settlement over a 2022 holiday season disaster that saw the airline cancel thousands of flights and leave millions of people stranded.
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Stocks opened slightly higher after Monday's opening bell after several weeks of gains as the year closes out.
Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
Citi told most of its employees that they could work from home at the end of the month, according to CNBC.
Chobani paid $900 million to purchase ready-to-drink coffee maker La Colombe.
Kerri Quigley, founder of The Fashion Class, spoke with Cheddar News on how to make an ugly sweater on a budget.
