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.
Tuesday is National Video Games Day. John Biggs, editor of Knapsack News and host of the 'Keep Going' podcast, joined Cheddar News to provide tips on how to save money on your favorite games.
Childcare centers were given funds during the pandemic to help them stay open but those funds are now expiring which could affect tens of thousands of centers. David Peters, CPA and founder of The David Peters Financial Group, joined Cheddar News to explain the changes that are coming and how to save on child care.
'The Little Mermaid' got 16 million views on Disney+ so far after being released earlier this month.
McDonald's said it would eliminate self-serve soda machines by 2032.
Online prices just saw their biggest drop in three years, according to new data.
U.S. small business sentiment dropped in August, for the first time since April.
Bloomingdale's named Olivier Bron its new chief executive, replacing Tony Spring, who will become CEO of Macy's.
Apple's 'Wonderlust' event will kick off Tuesday to showcase its newest products, including the iPhone 15 while Google is facing a federal antitrust lawsuit. Meanwhile, TikTok is rolling out ecommerce on its app.
Apple's 'Wonderlust' event kicked off on Tuesday.
The federal antitrust trial against Google will begin Tuesday.
