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Jim Cramer appeared to choke up during Thursday’s broadcast of CNBC’s “Squawk on the Street” as the investor apologized to viewers for previously recommending they buy shares of Meta — which tumbled to their lowest levels in six years. “Let me say this,” a somber Cramer told the CNBC co-panelists in a clip that went viral on Twitter, addressing a Thursday rout in Meta shares that sent them plunging 25% in a single trading session. “I made a mistake here,” Cramer said, his voice halting and trembling as he spoke. “I was wrong.”

Investors in GameStop are back on board a volatile roller coaster more than a year after the so-called "meme stock" phenomenon nabbed headlines in early 2021. While GameStop's recent highs are not nearly as close to the surge last year (when its stock hovered around $400 a share at one point), experts have said the company's stock price far exceeds what the retailer is actually worth. "It's hard to make this argument that the price is worth more than $80," said Kevin Mullally, an assistant professor of finance in the College of Business at the University of Central Florida. On...

At year end I was asked for predictions of what 2022 might see? My #1 prediction was that 2022 would see several narratives collapse. It did not take long to begin! Yesterday, Boris Johnson ended ALL Covid protocols in Britain and was followed by WHO backing off boosters for youngsters. While still trying to discern what prompted BJ to do a 180 (other than trying to retain power?), we will wait to see if others follow suit? We will also wait to see further actuary numbers of deaths from the insurance industry. Raw numbers will be hard to spin …...

Despite recent hedge fund disasters and almost every economic indicator pointing to a potential stock crash, Biden’s administration has completely ignored a potential equities bubble.Since March 2020, $5.9 trillion in so-called relief spending authorized by Congress, as well as $3.3 trillion in quantitative easing from the Federal Reserve, has been pumped into the U.S. economy. America’s pandemic response resulted in 22 million jobs lost in a matter of months, and we still have 10 million fewer jobs than before March of last year. The fiscal and economic repercussions of going from stronger than expected job and wage growth in January...

Most Asian stocks gained on Monday, extending the rally that took global equities to a record high after a U.S. jobs report signalled the economic recovery remained intact but didn't yet warrant any immediate withdrawal of Federal Reserve stimulus. Japanese markets, however, bucked the trend, with the Nikkei falling 0.5per cent following a surge in COVID-19 infections in Tokyo, just weeks before the city hosts the Olympics. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3per cent, led by a 1per cent gain in Taiwan. Chinese blue chips added 0.1per cent.

Leading Trump administration officials on May 11 moved to block further investment by U.S. federal retirement funds into Chinese equities that “present significant national security and humanitarian concerns,” reported FOX Business. National Economic Council Chair Larry Kudlow and National Security Adviser Robert O’Brien addressed a letter to U.S. Labor Secretary Eugene Scalia on Monday detailing the Trump administration’s wishes. The letter obtained by FOX Business outlined the Trump administration’s objections to the Thrift Savings Plan (TSP)—the federal government’s retirement savings fund—investing in Chinese companies. According to the news outlet, the funds total some $4 billion in assets. The letter stated,...

In a surprise breakout, Uber saw its share price soar by more than 38 percent today, dwarfing much of the market’s gains. Shares of ride-hailing giant Uber Technologies (NYSE:UBER) skyrocketed today following a conference call with the aim to calm worried investors. The taxi-on-demand service has taken a major beating in the market-wide coronavirus selloff, with widespread quarantine measures being taken across the globe weighing on the company's bottom line. During the conference call, Uber reassured investors, saying that it expects to have over $6 billion in cash on hand, with an additional $2 billion in easily accessible debt. President...

• "We have to realize that perhaps China isn't as strong as when we at first think. China is still figuring out also how to deal with this trade situation, how to ensure the stability of its domestic economy," said Curtis Chin, an Asia fellow at the Milken Institute. • Speaking to CNBC's "Squawk Box," Chin also "totally" disagreed with the view that U.S. President Donald Trump's policies are backfiring. China's power may have been overrated and the U.S. economy is staying strong, meaning that U.S. President Donald Trump has an advantage in the trade war, according to one expert....

A watchdog group on Monday sued the U.S. government, accusing the Obama White House of interfering in and thwarting the release of public documents under the Freedom of Information Act. The lawsuit filed in the U.S. District Court for the District of Columbia by the group Cause of Action (CoA) names 12 federal agencies that delayed the release of documents so officials could consult with White House under a new process established in spring 2009. The process, which gave White House officials review authority over documents that federal agencies wanted to release that mentioned the White House or presidential aides,...

A week after Josh Meyer’s Politico expose,“The Secret Backstory Of How Obama Let Hezbollah Off the Hook,” former Obama officials are still berating Meyer for his 13,000-word article detailing how the Obama administration killed a nearly decade-long DEA effort to stem a global Hezbollah cocaine-smuggling-and-organized-crime ring to help secure its nuclear deal with Iran. “This was a policy decision, it was a systematic decision,” former Defense Department analyst David Asher explained in the article. “They serially ripped apart this entire effort that was very well supported and resourced, and it was done from the top down.” Asher helped establish and...

It's Sunshine Week, so perhaps some enterprising White House reporter will ask press secretary Jay Carney why President Obama rewrote the Freedom of Information Act without telling the rest of America. The rewrite came in an April 15, 2009, memo from then-White House Counsel Greg Craig instructing the executive branch to let White House officials review any documents sought by FOIA requestors that involved "White House equities." That phrase is nowhere to be found in the FOIA, yet the Obama White House effectively amended the law to create a new exception to justify keeping public documents locked away from the...

The robo-machines are now having a grand old time hazing the August lows at 1870 on the S&P, and may succeed in ginning up another dead-cat bounce or two. But this market is going down for the count owing to a perfect storm. To wit, the global and US economies are heading into an extended deflationary recession; S&P earnings peaked at $106 per share more than a year ago and are already at $90, heading much lower; and the central banks of the world are out of dry powder after a 20-year binge of balance sheet expansion. The latter is...

As Wall Street axioms (Santa rally, January effect, as goes January etc.) are rapidly falling by the wayside at the start of 2016, following a chaotic but return-less 2015, the UBS analysts who correctly forecast last year's volatility are out with their forecast for 2016. It's simple - Sell Stocks, Buy Gold. UBS Technical Analysts Michael Riesner and Marc Muller warn the seven-year cycle in equities is rolling over.

<p>Concerns about the health of China’s economy kept pressure on Asian markets and commodities Wednesday, a day after stocks in Shanghai tumbled more than 6%.</p> <p>The Shanghai Composite Index opened 2.7% lower at 3646.80 and the smaller Shenzhen Composite fell 3.1% to 2107.65.</p>

The biggest drop in Chinese stocks in eight years Monday is another sign that Beijing’s efforts to prop up prices have failed. Moreover, the interventions themselves have made China’s equity markets more volatile and damaged their credibility in the long run. To stabilize stock prices, Beijing has employed numerous techniques, including suspending trading for a time on well over half of listed A-shares. Short sales were banned, and major shareholders were prohibited from selling. New initial public offerings were disallowed. China needs more professional participants in its equities markets. But why should institutions buy when the government can control if...

The beauty of markets is that they have a mind of their own. For the Chinese government, this has been a tough pill to swallow. Try as it might, the Chinese government was unable to arrest the decline in the domestic stock market last week. The central bank cut benchmark interest rates and the amount of money banks must keep with it on reserve. A government investment vehicle made it known that it was buying ETFs. The securities regulator eased regulations on margin trading and the Stock Exchange cut transaction fees. Despite this, the benchmark Shanghai Composite Index declined 12%...

Today was a bad day for precious metal investors. Both gold and silver dropped 2% today. commod101113 As global equity markets rallied. gem13 The gold sentiment index fell. goldent Comex gold holdings dropped. comexgoildinv At least the gold forward curve is modestly upward sloping (orange line). goldfexo Too bad the USA went off the gold standard. While some blame President Richard Nixon for taking the USA off the gold standard, the truth is that the USA had been dumping its gold holdings since 1957. goldike

July 31, 2012, 3:03 PM Bill Gross: We’re Witnessing the Death of Equities By Steven Russolillo The bond king says stocks are dead. Bill Gross, Pimco’s co-founder and co-chief investment officer, says stock investors should think again about the age-old “buy-and-hold” investing mantra. He says consistent, annual returns are a thing of the past. “The cult of equity is dying,” Bill Gross wrote in his August Investment Outlook. “Like a once bright green aspen turning to subtle shades of yellow then red in the Colorado fall, investors’ impressions of ‘stocks for the long run’ or any run have mellowed as...

Following its admission yesterday that it is now buying oil by telling clients to sell Brent to $105-107 a monther after advising anyone who cares Brent was on its way to $130, today we learn that Goldman is actively dumping its prop, pardon, there we go again, flow, FLOW, inventory of oil equities to idiots, pardon, clients. As to how dropping crude prices and thus collapsing profit margins is beneficial for energy producers, that is one we will long be scratching our heads over. From Arjun Murti: Potential SPR release consistent with expectation of tight oil markets: We recommend buying...

Does The Bond Collapse Signal Trouble For Gold And Yen Owners? Joe Weisenthal Sep. 10, 2010, 6:13 AM Once again, if you haven't seen the sharp fall-off in Treasuries, here's a chart. It's violent. Now the bond market is frequently described as being "smart" or a leader of equities and other markets. So if you think the bond market is selling off (and the reason for the selloff is unclear, but it looks like a "risk on" rally, as stocks are going up), then you have to wonder what's in store for holders of yen and gold, which have both...