Way-No-No-No!!! Drives Into Police Standoff

If driverless cars are the future, we might see way more of this ... a Waymo took a left turn smack dab into the middle of a police standoff ... and it's all on video. Viral video spreading on social media shows one of the driverless ride service vehicles taking a...

Consumer Sentiment Collapses, Raising Economic Red Flags

According to Yahoo Finance, market professionals say the Federal Reserve won't be able to ignore the red flags being raised by US households.  "Sentiment isn't wobbling at the edges or drifting lazily lower. It has collapsed," said Mark Malik, CIO of Siebert...

German Inflation Jumps to Nine-Month High as ECB Ponders Outlook

Germany’s inflation rate unexpectedly rose to the highest level in nine months, offering a reminder before the European Central Bank’s final meeting of the year that risks to price stability remain. The reading came in at 2.6% in November, up from 2.3% last month,...

The Railway Bubble vs. the AI Bubble

Everyone is trying to put the massive AI spend by technology companies into context. The easiest historical analogies are the telecomm buildout in the 1990s dot-com bubble and the railway bubbles of the 1800s. Each period was defined by excessive infrastructure...

How the K-Shaped Economy Is Hurting Everyone But the Rich

Talk of the K-shaped economy is brewing once again. The moniker first gained traction in 2020 to describe the divergence between how rich and poor Americans were experiencing the pandemic recovery. Now, with consumption increasingly concentrated in the top echelons of...

UBS’ Romano Says Rotation Out of US Stocks Is Likely Done

The selloff in US stocks may have run its course, setting the stage for a year-end rally, according to UBS Securities’ trading desk. Stocks slumped last week as investors questioned the prospect of further Federal Reserve policy easing and rotated out of the crowded...

US Consumer Sentiment Falls to Near Lowest on Record

US consumer sentiment fell in November to one of the lowest levels on record as Americans’ views of their personal finances soured. The final November sentiment index dropped to 51 from 53.6 in October, according to the University of Michigan. The figure was only...

Prediction Markets to Rival Stocks Within Years, Kalshi CEO Says

Prediction markets are growing far faster than previously expected and will rival stock exchanges in just a few years, according to Kalshi Inc. Chief Executive Officer Tarek Mansour. “This is starting to look like a trillion-dollar market,” Mansour said at the Futures...

Fear Engulfs Bitcoin Traders Betting on Free Fall to $80,000

Bitcoin is in free fall — and traders are positioning for more pain. The world’s largest cryptocurrency plunged below $90,000 on Tuesday morning during Asia trading, deepening a selloff that’s erased all of its gains for the year. In the options market, traders are...

Notices of Impending Layoffs by US Companies Surged in October

Notices of impending mass layoffs by US companies surged in October to among the highest levels on record, according to a tally by Federal Reserve Bank of Cleveland researchers. Some 39,006 Americans were given advance notice as required under the Worker Adjustment...