Investors believe aggressive Fed will keep stock market down for the rest of 2022, CNBC survey shows

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, September 26, 2022. Brendan McDermid | Reuters (Click here to subscribe to the new Delivering Alpha newsletter.) The Federal Reserve’s most aggressive pace of tightening since the 1980s is making the majority of Wall Street investors believe stocks will be underwater for … Read more

Stock market losses wipe out $9 trillion from Americans’ wealth

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, September 26, 2022. Brendan McDermid | Reuters Falling stock markets have wiped out more than $9 trillion in wealth from U.S. households, putting more pressure on family balance sheets and spending. Americans’ holdings of corporate equities and mutual fund shares … Read more

Crypto exchange FTX is replacing its U.S. president

Brett Harrison, FTX Source: CNBC Brett Harrison, the U.S. president of the crypto exchange FTX, announced his resignation on Tuesday, with the company in the midst of a massive expansion effort. Harrison said on Twitter that he will be moving into an advisory role at the company and said he plans to remain in the … Read more

Texas AG Paxton fled home with his wife to avoid subpoena in abortion case

Texas Attorney General Ken Paxton fled his home to avoid being served a subpoena Monday in a federal lawsuit filed by groups seeking to help Texans receive out-of-state abortions, court filings show. Paxton ran from the garage of his home in McKinney, Texas, into a truck driven by his wife, state Sen. Angela Paxton, while … Read more

Chipotle Mexican Grill will test robotic tortilla chip maker

Chipotle is testing out an autonomous kitchen assistant, Chippy, which offers a robotic solution for making chips in restaurants. Courtesy: Chipotle Chipotle Mexican Grill is moving one step closer to having a robot make its tortilla chips. The burrito chain said Tuesday that it will test “Chippy,” an autonomous kitchen assistant made by Miso Robotics, … Read more

Medicare standard Part B premiums will drop by 3% to $164.90 next year

bymuratdeniz | E+ | Getty Images The 2023 monthly premium for Medicare’s outpatient care coverage will be about 3% lower than it is this year, the government announced Tuesday. The standard monthly premium for Part B will be $164.90 next year, down $5.20 from $170.10 in 2022, according to the Centers for Medicare & Medicaid … Read more

Here are Q4 strategies from advisors amid rate hikes and high inflation

Ridofranz | Istock | Getty Images It’s been a nerve-wracking year for investors. With ongoing stock market volatility, high inflation and interest rate hikes, many wonder if we’re heading for a prolonged economic downturn.   “I think we have to be defensive,” said certified financial planner Ivory Johnson, founder of Delancey Wealth Management in Washington, D.C. … Read more

Home prices cooled at the fastest rate in index history

A ‘for sale’ sign is displayed outside a single family home on September 22, 2022 in Los Angeles, California. Allison Dinner | Getty Images U.S. home prices cooled in July at the fastest rate in the history of the S&P CoreLogic Case-Shiller Index, according to a new report out Tuesday. Home prices in July were … Read more

Cathie Wood’s new fund gives small investors access to the VC market for just $500

Cathie Wood, chief executive officer and chief investment officer, Ark Invest, speaks during the Milken Institute Global Conference on May 2, 2022 in Beverly Hills, California. Patrick T. Fallon | AFP | Getty Images Cathie Wood’s Ark Invest launched a new venture capital fund, targeting individual investors with a minimum investment of just $500. The … Read more

Do Kwon says he’s not hiding amid manhunt after UST, luna collapse

Do Kwon, co-founder and chief executive officer of Terraform Labs, insists that he is not on the run from South Korean authorities. Meanwhile, South Korean prosecutors claim that Interpol has issued a “Red Notice” for the arrest of Kwon. Terraform Labs, the company that Kwon founded, is behind the collapsed cryptocurrencies terraUSD and luna, which … Read more