business news

GOLDMAN SACHS: A new ‘scenario worth worrying about’ could cause the next avalanche of selling in the stock market

The recent stock market correction was worsened by a flash crash in illiquid investment products that had bet on low volatility. This flash crash and others during the recovery have occurred against the backdrop of a relatively good economy — and that’s the worrying scenario, according to Charles Himmelberg, Goldman …

business news

BANK OF AMERICA: A small group of oil traders could come out of hibernation to catch the rest of the market off-guard

Strategists at Bank of America Merrill Lynch have identified some reasons why oil-market bears could soon “wake up from winter hibernation.”  Oil traders’ bullish price bets relative to bearish bets are near a record high.  “If they do, WTI crude oil prices could lose $5/bbl within just a few weeks,” the …

business news

A throwaway comment in a conversation with Richard Branson hints at the future of Goldman Sachs (GS)

On Monday, Goldman Sachs announced that co-COO Harvey Schwartz would retire, setting the stage for David Solomon, his counterpart, to succeed Lloyd Blankfein as CEO. Reports suggest the transfer of power could come as soon as the end of this year. The position of Solomon, an unconventional Wall Street figure, …

business news

The Fed is stuck in a trap of its own making

Wall Street thinks Federal Reserve Chairman Jerome Powell could move toward holding press conferences at every policy meeting.  Currently, the Fed chairman speaks only after four of the central bank’s eight meetings, which has led markets to rightly suspect no actions will be taken on non-press conference meetings. Because markets …

business news

A little known cloud security company just raised $192 million in the first big tech IPO of 2018 (ZS)

Zscaler, an enterprise cloud security company, took its shares public on Friday. The company set its share price at $16, and shares shot up 75% to around $28 on the first day of trading. Zscaler is the first of the many tech IPOs expected to come in 2018. The first …