Schonfeld is leading its peers a year after the $11.6 billion firm ended tie-up talks with Millennium. How the industry’s biggest funds did in October.
Ryan Tolkin is the CEO and chief investment officer of Schonfeld Strategic Advisors. In a year full of strong months, October still stood out for Schonfeld Strategic Advisors. The $11.6 billion New York-based fund is roughly a year removed from nixing a potential takeover by its larger rival Millennium, and the manager’s strong 2024 has…
The most accurate forecasts of 2024: Seeking nominations for B-17 Oracles of Wall Street list
A 50-basis-point rate cut from the Federal Reserve. The S&P 500 rallying 20%. Shares of Nvidia soaring over 180%. Inflation returning to pre-pandemic levels. Did you or someone you know on Wall Street predict these and other significant developments in 2024? We’d like to hear from you. B-17 is seeking nominations for its 2024 Oracles…
Palantir’s record earnings juice the stock market’s AI trade ahead of the election
US stocks rose on Tuesday as investors geared up for the result of the presidential election and mulled record earnings from Palantir. Though new momentum from Harris over the weekend weighed on the Trump trade on Monday, Treasury yields, bitcoin, and Trump Media stock were all higher on Tuesday. Palantir spiked as much as 20%…
Russia’s oil revenue plummeted 29% in October amid volatile global crude prices
Russia saw a double-digit drop in oil revenue last month, hitting an important source of funds for the Kremlin amid pressure on global crude prices. Moscow’s revenue from oil-related taxes plummeted 29% year-over-year in October, from 1.48 trillion rubles to 1.05 trillion rubles, according to data from Russia’s Finance Ministry. Oil and gas proceeds, which…
Why JPMorgan says election gridlock will be the best-case scenario for stocks
Donald Trump and Kamala Harris are both courting voters in Pennsylvania Regardless of the next president, JPMorgan expects stocks to rise if the US election delivers a divided Congress. “Under either gridlock scenario, we think equities reprice higher as we clear the uncertainty, volatility decreases and hedges unwind, with investors refocusing on the Fed at…
Sales are sliding at KFC and Burger King as fast-food chains keep struggling
KFC saw same-store sales drop by 5% in the US in Q3. It’s been another tough few months for fast-food giants. McDonald’s kicked off earnings last week by reporting a drop in global sales for the most recent quarter. On Tuesday, Burger King owner Restaurant Brands International and the parent company of KFC followed in…
Parts supplier cuts thousands of jobs as Germany’s auto woes deepen
An autonomous vehicle from Schaeffler at the IAA motor show in Munich, Germany last year. Germany’s auto industry is under intense pressure — and now thousands of jobs will go at a key company in the supply chain. Auto parts supplier Schaeffler said on Tuesday it would cut about 4,700 jobs across Europe and close…
I moved from the US to Australia. My employer contributes over 11% to my retirement, and I don’t pay property taxes.
Chelsey Nelson moved from Seattle to Australia to be with her boyfriend. This as-told-to essay is based on a conversation with Chelsey Nelson. It has been edited for length and clarity. In 2019, I met the man who would become my husband at a hospital in Rio de Janeiro during Carnival. It made for a…
Food deliveries are getting more expensive — but we can’t stop ordering
Experts say that many US consumers feel “time-poor” so opt for convenience over saving money. Convenience comes up with a pretty hefty cost these days. There’s now a considerable difference in spending between eating out and getting your meal delivered. But demand for food delivery has remained high — as has its price. The personal…
