Product that tells our story
The CFA Institute has begun to downplay its controversial DEI initiatives – a major retreat from the once-popular but now dubiously legal hiring framework, On The Money has learned. “Under CEO Margaret Franklin, the CFA Institute has tax-exempt dollars building what is now the largest DEI coalition in the world by assets under management,” said […]
Markets fell sharply Friday morning as concerns over cooler-than-expected employment figures and anxiety over President Trump’s tariffs put a halt to their scorching run. In mid-morning trading, the Dow was down 538.07 points to 43,592.91, representing a 1.22% decline. The S&P 500 fell 84.72 points to 6,254.67, down 1.34%, while the Nasdaq dropped 357.10 points […]
They’re seeing double. A new Trader Joe’s opened in Los Angeles directly across the street from one of the grocery giant’s oldest stores, but the company says it will keep both operating in spite of the confounding redundancy that left many customers scratching their heads. The veteran Sherman Oaks store and its successor, cheekily dubbed […]
Wall Street’s myopia was on full display in the immediate aftermath of the Israeli airstrikes against Iran. Many of us were worried about the possibility of World War III as we saw the attacks almost in real time Thursday night. Many of my sources were trying to gauge impacts on the Dow, oil prices and […]
LAS VEGAS — The bitcoin treasury play that lifted Strategy’s market cap past $80 billion is now being mimicked by meme stock companies, media firms, and multinational conglomerates. But Wall Street isn’t buying all the hype. This week, Trump Media announced plans to raise $2.5 billion to buy bitcoin, and GameStop revealed a $500 million […]
The Trump administration’s assault on “woke” universities is not only squeezing the budgets of some of the nation’s elite schools, but also threatening private equity firms and hedge funds, On The Money has learned. That’s right – Wall Street fat cats are predicting a huge hit to their business if Trump carries out his proposed […]
Wall Street has been venting its outrage on Howard Lutnick over the tariffs. While the president’s controversial Commerce Secretary looks like an easy target, it’s worth asking whether he’s the right one. As someone inside the White House recently reminded me: “A lot of people on Wall Street don’t like Howard, but they’re acting like […]
US stock futures opened sharply lower late on Sunday, suggesting a continuation of the two-day selloff that wiped trillions from equity values after the Trump administration’s tariffs announcement last week. Investors had been anticipating another week of turbulence as global trading partners react to the harsher-than-expected tariffs. US S&P 500 E-minis stock futures were last down 4%. […]
By allowing users to “copy trade” — that is, follow the successful financial moves of someone like Warren Buffett or Nancy Pelosi —Dub is betting that the future of finance will fuse social media with investing. The company, started in 2021 by then 19-year-old Steven Wang, launched as the only regulated copy-trading platform in the […]
State Street’s asset management unit on Friday dropped targets for the number of women and minority directors who should serve on corporate boards, according to new proxy voting guidance posted on its website. The changes were in line with those of other major asset managers under political pressure, shifts likely to slow the pace at which boardrooms become less white and male. […]
