Succinct Summation of Week’s Events for 2.9.18

Succinct Summations for the week ending February 9th, 2017 Positives: 1. Could have been worse: Bad week ends with Friday afternoon rally… 2. Jobless claims come in at 221k, down from 230k previously and below the 235k expected 3. ISM non-mfg index increased to 59.9, the strongest reading in its 20-year history 4. Chain store…

Read More

The post Succinct Summation of Week’s Events for 2.9.18 appeared first on The Big Picture.

US stocks drop then rise again as wild ride continues

  • Dow Jones plunges 200 points before ending up 300
  • Index fell 5% over week in one of biggest drops since recession

US stock markets continued their wild ride on Friday, ending one of the most volatile weeks in trading since the financial crisis as international stock markets continued to fall, spooked by fears of more rapidly rising interest rates.

The Dow Jones Industrial Average, which lost more than 1,000 points on Thursday, rose 30 points on Friday morning as the more broadly based S&P 500 and the tech-heavy Nasdaq also moved into the black only to shortly lose those gains. By noon the Dow was down over 200 points and then rallied to end up over 300 points.

Why are stock markets falling?

Related: By betting on calm, did investors worsen the stock market fall? | Nils Pratley

Continue reading…

Making millions from chaos: the fund cashing in on the stock market collapse

Texas hedge fund Artemis plucks millions from investments designed to benefit from turmoil and volatility

Stock markets gyrated wildly this week, and a lot of people lost a lot of money. But Chris Cole, a 38-year-old hedge fund manager from Texas, wasn’t one of them. He made millions from his fund’s bet on a financial apocalypse.

From his office overlooking the Colorado river in Austin, Texas, Cole runs Artemis Capital, a hedge fund that, since 2012, has been betting on a repeat of the 1987 Black Monday stock market crash.

Related: By betting on calm, did investors worsen the stock market fall? | Nils Pratley

Continue reading…