Elon Musk says the Fed must cut rates ‘immediately’ to stop a severe recession

Elon Musk says the Fed must cut rates ‘immediately’ to stop a severe recession

Tesla Motors CEO Elon Musk unveils a new all-wheel-drive version of the Model S car in Hawthorne, California October 9, 2014. Lucy Nicholson | Reuters Elon Musk thinks a recession is coming and worries the Federal Reserve’s attempts to bring down inflation could make it worse. In a tweet early Wednesday, the Tesla CEO and … Read more

Stifel downgrades CrowdStrike, says tough macro backdrop is battering cybersecurity stock

Stifel downgrades CrowdStrike, says tough macro backdrop is battering cybersecurity stock

It’s time to take a step back from CrowdStrike Holdings after the cybersecurity company’s latest earnings report, according to Stifel. Analyst Brad R. Reback downgraded the cybersecurity stock to hold from buy, saying that the company’s latest quarterly results showed CrowdStrike was hurt by a challenging macro backdrop. The analyst also cut his estimates and … Read more

Transitory inflation talk is back. But economists say higher prices are here to stay

Prices of fruit and vegetables are on display in a store in Brooklyn, New York City, March 29, 2022. Andrew Kelly | Reuters Global markets have taken heart in recent weeks from data indicating that inflation may have peaked, but economists warn against the return of the “transitory” inflation narrative. Stocks bounced when October’s US … Read more

Oakmark Funds’ Bill Nygren sees these value stock picks as cheap

There are opportunities to pick up value stocks in today’s market, although it isn’t cheap overall, according to Bill Nygren, a portfolio manager at Oakmark Funds. Still, the spread of price-to-earnings multiples today is about 40% wider than it used to be, he said. “There are lots of expensive stocks and lots of very cheap … Read more

Energy stocks could double next year even in a flat market, according to Fundstrat’s Tom Lee

Oil was one of the biggest market headwinds earlier this year, but even as it turns into a tailwind, it offers a key lesson for investors, according to Fundstrat’s Tom Lee. “For many years, our clients thought energy was a group that they could ignore because the world was moving towards renewables,” he said in … Read more

Amazon used AWS in satellite experiment

An image captured by the ION Elysian Eleonara satellite in January 2022. D-Orbit Amazon’s cloud computing division successfully ran a software suite on a satellite in orbit, in a “first-of-its-kind” experiment, the company announced Tuesday. AWS, or Amazon Web Services, conducted the prototype satellite software demonstration through partnerships with Italian company D-Orbit and Swedish venture … Read more

Biden rules to limit methane leaks, flaring from public land drilling

Flames from a flaring pit near a well in the Bakken Oil Field. The primary component of natural gas is methane, which is odorless when it comes directly out of the gas well. In addition to methane, natural gas typically contains other hydrocarbons such as ethane, propane, butane, and pentanes. Orjan F. Ellingvag | Corbis … Read more

South Africa’s economy at a pivotal point as outlook improves but political, energy risks remain

LONDON – South Africa’s President Cyril Ramaphosa speaks during a press conference in central London on November 24, 2022 JUSTIN TALLIS/AFP via Getty Images South Africa’s long-awaited economic reforms have begun to improve the country’s outlook, but the age-old problems of political uncertainty and a failing power system still pose significant risks. The Economic Reconstruction … Read more

Stock futures rise after major averages slide on Covid unrest in China

Traders work on the floor of the New York Stock Exchange (NYSE), September 6, 2022. Brendan McDermid | Reuters US stock futures were higher on Tuesday morning after the major averages came under pressure from Covid protests in China, and as investors anticipated more economic data and commentary from Federal Reserve leaders this week. Dow … Read more

US warns California cities of possible water cuts in fourth dry year

Houseboats on Lake Oroville during a drought in Oroville, California, US, on Monday, Oct. 11, 2021. David Paul Morris | Bloomberg | Getty Images Federal water managers on Monday warned California cities and industrial users receiving water from the Central Valley Project to prepare for a fourth year of drought and possibly “extremely limited water … Read more