BlackRock Enters New League With $450 Billion in Alternative Assets
Fee-paying alternative assets edge closer to industry leaders Alternatives are small part of total but charge higher fees BlackRock Inc. reaching $450 billion in alternative assets is putting a finer point on a case it has been making all year: it’s not just an ETF...
Tesla Shares Sink After Musk’s Robotaxi Unveiling Disappoints
CEO shows off two-seat Cybercab and spacious Robovan concept Carmaker has track record of blowing past product timelines Elon Musk unveiled Tesla Inc.’s highly anticipated self-driving taxi at a flashy event that was light on specifics, sending its stock sliding as...
US Consumer Spending Is Increasingly Driven by Richer Households
Spending by low earners jumped with pandemic aid, then slowed Wealth effect of asset boom boosts top-end spending: Fed study The consumers powering US economic growth are increasingly those who are higher up the income ladder, and likely enjoying a wealth effect from...
Defense, Space Firms Partner on Orbital Craft for National Security Missions
Impulse Space started by SpaceX employee no. 1 Tom Mueller Anduril founded by Oculus VR headset designer Palmer Luckey Venture-backed Impulse Space Inc. and weapons maker Anduril Industries Inc. are developing a supercharged spy vehicle capable of carrying out...
BlackRock Hits $11.5 Trillion With Push into Private Markets
Total net flows hit record $221 billion last quarter Flows into fixed-income and private funds boosted performance BlackRock Inc. pulled in a record $221 billion of total client cash last quarter, pushing the world’s largest money manager to an all-time high of $11.5...
US Consumer Sentiment Unexpectedly Falls on High Cost of Living
University of Michigan sentiment index at 68.9 after 70.1 Short-term inflation views rose to 2.9% in early October US consumer sentiment unexpectedly fell for the first time in three months as lingering frustration with a high cost of living offset more sanguine views...
Chinese Stocks Cap Worst Week Since July Before MOF Briefing
China will deploy up to 2 trillion yuan fresh stimulus: survey Market expectation on stimulus ‘has run high’: William Blair Chinese stocks fell as investors were seen reducing risk before the Ministry of Finance holds a policy briefing on Saturday, where it may add...
VW, Porsche China Sales Slide as Market Turns to Local EVs
Porsche’s China deliveries fell to decade low in third quarter BMW, Mercedes also reported steep quarterly declines in China Volkswagen AG’s China sales slid 15% in the third quarter as Germany’s biggest carmaker continued to lose ground in key markets in the shift to...
The Great Divide Over China Investing Deepens Post Stimulus
Long-term investors and foreign companies wary about piling in Weak economy, geopolitical tensions, US election raise risks Beijing’s pivot toward economic stimulus has sparked fevered stock buying from hedge funds and individual investors. But big asset allocators...
Partners Group-Backed KinderCare Shares Rise 9% After IPO
Childhood education company raised $576 million in IPO KinderCare to use proceeds to repay loans, cover expenses KinderCare Learning Cos. shares rose nearly 9% after the company raised $576 million in an initial public offering priced toward the bottom of a marketed...
Oil Steadies as US Stockpiles Swell, Traders Weigh China Policy
Finance minister set to introduce measures to shore up growth Market continues to watch for Israeli response to Iran strike Oil held steady after a day of choppy trading as US crude inventories swelled and traders monitored China’s plans for fiscal policy. West Texas...
China Holiday Spending Lags Pre-Covid Era, Showing Stimulus Need
Chinese tourists shelled out less money during their long holiday that ended Monday than before the pandemic, even as signs emerged that spending is stabilizing after a barrage of stimulus recently unveiled by the government. While travelers made 10.2% more trips...
Guggenheim CIO Says Inflation of Up to 4% Could Be a New Normal
Price pressures may be more severe than pre-Covid: Anne Walsh Fed should ‘take collar off’ on 2% target and work with range While price pressures have eased dramatically in the past two years, the war against inflation isn’t over just yet — and factors from spending...
WARNING: “Buffett Indicator” flashing for first time in 50 years
Warren Buffett has sold a staggering $97 billion worth of stocks this year... And parked nearly half of Berkshire Hathaway's in ultra-safe T-bills. But why? Our research indicates the Oracle of Omaha is quietly preparing for a historic market crash. His most reliable...