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.
With just under a month left to file taxes, Cheddar News is keying in on freelance workers and wants to provide some tips so those Americans maximize either their refunds or what they have to pay back to the IRS.
Meal-delivery startup Entrée raised $2.5 million in a pre-seed round. Jon Bell, co-founder and co-CEO of Entrée, joined Cheddar News to discuss the company's offerings that are prepared by Michelin-trained culinary teams.
Laxman Narasimhan took over as CEO of Starbucks about two weeks earlier than expected and will speak at the company's annual shareholder meeting on Thursday.
Stocks rose on Wall Street Monday after regulators pushed together two huge banks over the weekend and made other moves to build confidence in the struggling industry.
Two weeks earlier than expected, Howard Schultz stepped down as chief executive officer of Starbucks, and Laxman Narasimhan is taking over the global coffee chain.
The U.S. Federal Reserve is working with other central banks around the world to ensure dollars are available to stop any liquidity issues related to the ongoing crisis in the banking sector.
Blue check marks are coming to Instagram and Facebook. Meta CEO Mark Zuckerberg on Friday announced the expansion of a premium subscription service for $11.99 per month on the web and $14.99 on mobile. The service launched in Australia and New Zealand last month.
