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.
Warren Buffett's Berkshire Hathaway increased its stake in an LNG plant in Maryland for $3.3 billion as it doubles down on fossil fuels.
Threads could bring in $8 billion in annual revenue, according to analysis, after it reached about 100 million users days after its launch. Cheddar News explains.
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Bank of America must pay more than $100 million to customers for doubling up on some fees, withholding reward bonuses and opening accounts without customer consent.
Cheddar News Senior Reporter Michelle Castillo visited an Amazon warehouse on Long Island to get a behind-the-scenes look at the company's efforts ahead of Prime Day.
What's happening on Wall Street July 11, 2023
We hit the streets of New York City to ask: is money something you talk about with friends and family?
We hit the streets of New York City to ask: is money something you talk about with friends and family?
Clint Henderson, managing editor at The Points Guy, explains why hidden hotel fees keep cropping up and what you can do to try to avoid them.
Cities across the U.S. offer free public transportation.
