4,072
-0.12%
4,072
-0.12%
11,461
-0.18%
11,461
-0.18%
34,430
0.1%
34,430
0.1%
1,812
-0.2%
1,812
-0.2%
17,057
0.53%
17,057
0.53%

'It is my impression we're making more psychopaths. They all believe in something but they all lack remorse. They don't mind causing others harm. It's their superpower.'
'Tether doesn't disclose that Sam Bankman-Fried/Alameda was in fact, Tether's largest customer. Tether provided zero warnings because they were doing business with the frauds.' ht @ttmygh
'Advocates argued that Bitcoin was a better version of gold but Bitcoin hasn't proved to be an inflation hedge. In fact, it has traded more like other high-risk assets. Meanwhile, crypto trading platforms have proven vulnerable to hacks and fraud.'
'As the Federal Reserve has raised interest rates, buoying yields, the value of government paper has dropped. Lesser central banks have taken this as a cue to swap them for precious metal rather than bet on the Fed taming inflation.'
'The Biden administration is seeking to stop sales from the Strategic Petroleum Reserve mandated by Congress so it can refill the emergency reserve, a move that could impact the release of 147 million barrels of crude oil.'
"This Venezuelan deal, that's a good example of the desperation that this administration is dealing with. They know what they did. They know they took the federal lands off the table. They want to put oil and gas out of business."
'Not a single mutual fund — not one — managed to beat its benchmark regularly and convincingly over the last five years. These results are even worse than those of 2014 and 2015, when I last examined this subject closely.'
'The markets have trimmed about a quarter of the value from the public Reits. Blackstone's internal models take a more optimistic view of things. "How can everyone else's valuation be going down, and theirs is going up?"'
Markets: 'We have been conditioned for years to expect strong support from the Fed in the form of rates and liquidity. And this is where you seem to have signaled we are starting to go back to. Just look at your own projections!' by @elerianm
'Add 50 bps in December and the funds rate will still be negative in real terms. Monetary policy is now much less accommodative than in the spring but the policy rate isn't yet "restrictive" in the ordinary sense.'
'Across the board, wages rose 0.6% over the month, doubling the pace economists had expected to see. Average hourly earnings have now been steadily strengthening for months, rising 5.1% over the year and dashing hopes that wage pressures were cooling.'
"I've been very skeptical and in disbelief that they can get away with the lack of disclosure and with the limited transparency. If you do have reserves, why wouldn't you show them?"
"My colleagues and I do not want to overtighten because…cutting rates is not something we want to do soon. That's why we're slowing down and going to try to find our way to what that right level is."
'Nomura analyst Charlie McElligott posited that some financial institutions had been behaving like "full-tilt day traders", trying to "weaponise" the phenomenon to "amplify and 'juice' the intended directional market move".'
'The average retail investor has about a 10% allocation to Tesla. Tesla was the second-most bought security by retail investors this year, trailing only the SPY exchange-traded fund in terms of number of days in the top spot.'
"If we exclude the 9:30 opening data, the last time we saw a TICK above 1900 was October 13th (CPI day). So clearly a bit of buying panic on Powell, just as we saw on that CPI day." -@jkrinskypga
'Structural bear markets (triggered by structural imbalances and financial bubbles) have almost 2x the downside of Cyclical ones (resulting as a function of the economic cycle) and last for significantly longer.' via @SoberLook @thelykeion

Breaking news

Elizabeth Holmes appeals her criminal fraud conviction, two weeks after she was ordered to serve more than 11 years in prison for deceiving investors in her blood-testing startup Theranos |  Link
Here's where the jobs are for November 2022 — in one chart. |  Link
You can start a successful business with little to no capital, says Nakia Vestal, a human trafficking survivor. Watch the video to learn about her journey and her advice for new entrepreneurs. |  Link
U.S. stocks rebounded to close almost where they opened, after a stronger-than-expected jobs report for November raised questions over how soon the Federal Reserve could slow its aggressive interest rate hikes. Read more: |  Link
This family left the U.S. and bought an apartment in Portugal for $534,000—look inside their 400-year-old home. (via @CNBCMakeIt) |  Link
Liquidity is the name of the game in the current economic environment |  Link
From historical arguments to poems on cryptocurrency, users took to Twitter to speculated on its ability to replace everything from playwrights to college essays |  Link
Cooling inflation and Powell’s talk of moderation sent stocks soaring. But a hot jobs report means rate hikes are still in the cards, and it’s not time to celebrate yet. |  Link
"This is about the outrageous behavior of an individual," Sen. Pat Toomey says on the FTX fallout. |  Link
Whether it’s flaming eggplant or liquid nitrogen gelato, 21st-century NYC diners are getting wowed by old-school tableside carts |  Link
Russian tourists are once again traveling in large numbers to Thailand and using credit cards issued outside of Russia |  Link
Layoffs hit white-collar workers, hinting at a ‘Patagonia vest recession’ |  Link
CFTC Chair calls for authority to prevent the next FTX by @Jenniferisms and @DsHollers Link
A crypto party in India is showing signs of trouble amid a wider market meltdown. Lax regulations heighten the risks, experts say. |  Link
Your boss denied your promotion request. Here's a CEO's simple advice for what to do next. (via @CNBCMakeIt) |  Link
Larry Summers says the Fed will need to raise rates more than expected, and warns the economy could slide suddenly like an "avalanche" |  Link
A Beverly Hills cop was California’s highest-paid municipal worker last year, earning $716,000 |  Link
The U.S. added a more-than-expected 263,000 jobs in November despite announcements of thousands of job cuts by technology companies, including Twitter, Amazon and Meta. Read more |  Link
“Oil is pinched in that sort of demand-supply equation right now,” @mdbaccardax says. More: |  Link
Companies that thrived during a period of rising prices may find it harder to boost prices and protect margins as inflations continues to slow. That could mean trouble. |  Link
4 of the top 10 best college towns in the U.S. are in Florida—see where else made the list (via @CNBCMakeIt) |  Link
Here's how a 26-year-old brings in up to $19K a month throwing parties: (via @CNBCMakeIt) |  Link
Tax "refunds may be smaller in 2023," warns the IRS. Here's why. |  Link
News shared on social media and by word-of-mouth moved faster than China’s censors, but the government is quickly making sure it keeps the upper hand |  Link
Home builders and suppliers have been hammered by rising mortgage rates. But there’s long-term value in the stocks, and interest rates won’t stay up forever. |  Link
McDonald's is taking a giant leap into the future with this new restaurant concept |  Link
Am I diversified? Jim Cramer makes the call |  Link
Winners of the second annual Earthshot Prize will each receive $1.2 million to help address environmental — and human — woes |  Link
LedgerX, one of the few solvent pieces of Sam Bankman-Fried’s crumbled FTX empire, is up for sale |  Link
Parents of successful kids don't worry about screen time, one expert says — they teach these 3 skills instead. (via @CNBCMakeIt) |  Link
Donald Trump “explicitly sanctioned tax fraud” by executives at two of the Trump Organization’s business units, a New York prosecutor told the jury in the companies’ criminal tax fraud trial |  Link
Cramer's lightning round: Let Extreme Networks cool off a little before buying |  Link
If you're taking part in the annual Medicare open enrollment period, here's how you can avoid being scammed. |  Link
Jim Cramer gives his take on Sunrun |  Link
Jim Cramer says he expects many more layoffs coming |  Link
WATCH: Drugmaker Pfizer is investing more than $2.5 billion in Europe, gearing up to launch new products it hopes can replace lost revenue as patents expire and vaccine sales decline |  Link
Heard on the Street: Jobs report reminds investors that Silicon Valley isn’t the whole economy |  Link
In an exclusive interview, San Francisco District Attorney Brooke Jenkins has a message about the “lawlessness” she says she inherited in her city: “All crime in San Francisco is illegal again” |  Link
Jim Cramer says these 3 apparel stocks benefit from the return to office |  Link
U.S. says Swiss engineering group ABB to pay over $315 million to resolve bribery case |  Link
U.S. Fed proposes plan for banks to manage climate-linked financial risk |  Link
“It will likely… prevent a rail strike and make such industrial activities illegal,” @mdbaccardax says about the new rail strike bill. “That’s a really big move for a president who has championed the labor movement for virtually the whole of his career.” |  Link
U.S. Treasury says oil price cap 'institutionalizing' Russian crude discounts |  Link
Flu hospitalizations nearly doubled over the last week, and admission rates have reached the highest level in more than a decade via @CityLab Link
New York Attorney General Letitia James’s longtime chief of staff and one of her most-trusted advisers resigned after being investigated for workplace misconduct via @CityLab Link
Of the 2,481 wines our columnist tasted this year, these 50 are the absolute best value |  Link
How Google's Waze has changed from its early days as car travel is remade |  Link
Adidas, one of FIFA's seven global partners, will still be represented in the tournament by Spain, Argentina and Japan after four of its seven sponsored teams exited the #FIFAWorldCup Link
Swiss industrial company ABB agrees to pay $315 million to resolve a multinational investigation into the bribery of a high-ranking official at South Africa's state-owned power utility Eskom |  Link
Germany has become a no-fly zone for discount airlines like Ryanair and EasyJet |  Link
Biden administration officials are trying to reassure oil market participants that the newly agreed $60 price cap on Russian crude won’t trigger supply disruptions and price volatility after it kicks in Monday |  Link
Here are seven major companies whose stocks moved on the week’s news, including CSX, AMC and Salesforce |  Link
Jim Cramer says these 3 apparel stocks benefit from return to office |  Link
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The Biden Administration this week hosted French President Emmanuel Macron for an elaborate state dinner, with the menu headed by pricey, Maine-caught lobsters – drawing bipartisan criticism for the opulent optics.
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Bloomberg went to the Bahamas to spend 11 hours with the most famous man in crypto. This is what he had to say: Here’s your Evening Briefing |  Link
Darjeeling tea price tumbles after India leaf-blending quarrel |  Link
GM venture to invest additional $275M at Tennessee plant |  Link
The battle to control the iconic 4.2-mile stretch of road continues. |  Link
Microsoft is ready to fight for its $69 billion acquisition of gaming company Activision if the FTC files a lawsuit seeking to block the deal |  Link
The unemployment rate might have to rise to 4.5%—and stay there a while—before the Fed declares victory in cooling inflation. |  Link
Former FBI agent of 21 years: These are the 8 biggest "warning signs" that reveal a dishonest person. (via @CNBCMakeIt) |  Link
Goodbye savings, hello debt. Americans tap into credit to pay for goods this holiday season. @KristinaParts reports. |  Link
Magnetar Capital cut its stake in iRobot, a maker of automated cleaning devices. RA Capital disclosed a large stake in drug firm Acrivon Therapeutics. |  Link
Billionaire Warren Buffett: This is the "one easy way" to increase your worth by "at least" 50 percent. (via @CNBCMakeIt) |  Link
The Federal Reserve’s new regulatory chief on Thursday signaled plans to beef up big-bank capital requirements, potentially revisiting financial rules that were eased during the Trump administration |  Link
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Readers weigh in on quantum computing, Walt Disney, climate change, business development companies, estate planning, and sequence-of-return risk. |  Link
Cramer’s week ahead: Markets need a strong job market, tame inflation to stay up |  Link
Former FTX US head is raising money for crypto startup via @business Link
The lawyer who represented Bernie Madoff has some advice for Sam Bankman-Fried: shut up |  Link
A Harvard nutritionist shares the No. 1 vitamin that keeps her brain "young and healthy"—and foods she eats "every day." (via @CNBCMakeIt) |  Link
U.S. judge dismisses indictment against Huawei CFO that strained U.S.-China relations |  Link
Cloud stocks were supposed to be immune from the slowdown. It hasn’t turned out that way. |  Link
US joins EU and G7 to cap Russian oil prices at $60/barrel by @Jenniferisms Link
“The month of December… in terms of performance… it’s generally the best month of the year,” @mdbaccardax says about the potential Santa Claus rally. “The missing component into all of these discussions is where we’re headed on corporate earnings." |  Link
Over 100,000 creditors want their money back from BlockFi, the crypto lender filed for bankruptcy this week, and HSBC is getting $10 billion for selling its Canadian business to Royal Bank of Canada. Here's our weekly roundup of top business and finance stories from this week
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Is your partner a gaslighter? Here are 3 red flags to watch out for. 🚩 (via @CNBCMakeIt) |  Link