Wall Street Today | Rumbling in options market is sound of traders rushing to hedge
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· Rumbling in options market is sound of traders rushing to hedge
The only thing that isn't falling in markets is the price of protection -- complicating the lives of harried traders rushing to hedge.
The issue is particularly pronounced in equities, where the relative cost of loss-protecting put contracts is as high as its been any time in two years. The benchmark options index in the U.S., know as the $CBOE Volatility S&P 500 Index(.VIX.US$, on Monday briefly surged above longer-dated futures -- a relatively rare inversion that occurs when market volatility mushrooms.
· Fed's Powell to hold first in-person press conference of pandemic next week
Federal Reserve Chair Jerome Powell is set to hold his first in-person press conference since the pandemic began, meeting reporters following the conclusion of the U.S. central bank's two-day policy meeting.
· S&P 500 ready to join bear market, says Morgan Stanley
The $S&P 500 Index(.SPX.US$ is about to drop sharply, $Morgan Stanley(MS.US$'s Michael J. Wilson warned, as investors struggle to find havens amid fears of a recession and aggressive tightening by the Federal Reserve.
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· Cathie Wood's ARKK flirts with 2-year low as short sellers eye possible bounce
Cathie Wood's flagship fund $ARK Innovation ETF(ARKK.US$ is approaching a two-year low, though short sellers appear to expect that the decline won't last much longer.
After beating much of the U.S. market in 2020, Ark's exchange-traded funds have struggled to keep up the performance. They've plummeted since last fall, facing pressure from high inflation prints and the start of monetary tightening.
COMPANIES
· Twitter accepts Elon Musk's offer to buy company in $44 billion deal
$Twitter (Delisted)(TWTR.US$ on Monday accepted Elon Musk's bid to take over the company, which would give the world's richest man control over the social-media network where he is also among its most influential users.
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· Lunch with Warren Buffett goes on auction block one last time
A steakhouse lunch with $Berkshire Hathaway-B(BRK.B.US$ Chief Executive Warren Buffett will return to the auction block this June after the annual charity fundraiser was put on a two-year pause during the Covid-19 pandemic.
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· Global auditing firms struggle to leave Russia
Soon after Russia invaded Ukraine, global auditing and consulting firms promised to leave the country. For some, the departure is proving to be difficult and potentially embarrassing.
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Soon after Russia invaded Ukraine, global auditing and consulting firms promised to leave the country. For some, the departure is proving to be difficult and potentially embarrassing.
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Dirty Red : Love the Wall Street
72770951 : yeah it's going to be a rough few month or two the fed needs to do their job before this gets like this. but in the long run the US economy will prosper
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