Greenlight Capital’s David Einhorn likens Tesla to Lehman Brothers
David Einhorn, the hedge fund manager known for his prescient call about Lehman Brothers’ accounting troubles, lambasted Tesla Inc and Elon Musk on Friday, saying the carmaker’s woes resemble those of the global financial services firm before its collapse.
Oil prices rise, supported by U.S. jobs data, Iran sanctions
Crude futures rose on Friday as U.S. unemployment data eased concerns about demand in the world’s top oil consumer, with both benchmarks set for a weekly gain ahead of U.S. sanctions on Iranian oil exports.
Einhorn’s Greenlight exits Apple on U.S.-China trade war fears
David Einhorn’s Greenlight Capital sold its remaining shares of Apple Inc on growing fear of “Chinese retaliation against America’s trade policies”, according to a letter sent by the hedge fund to investors.
A decade of U.S. economic sluggishness may have just snapped back to normal
For a solid decade after the collapse of Lehman Brothers touched off a global financial crisis, there was good reason to think the U.S. economy remained broken, from skepticism about the health of the labor market to tepid economic growth and the morib…
U.S. job growth cools; unemployment rate drops to 3.7 percent
U.S. job growth slowed sharply in September likely as Hurricane Florence depressed restaurant and retail payrolls, but the unemployment rate fell to near a 49-year low of 3.7 percent, pointing to a further tightening in labor market conditions.
Wall Street hit as bond yields climb after jobs data
U.S. stocks dropped on Friday, weighed down by rising Treasury yields after data showed job growth slowed in September, while wage increases were not enough to fan worries over rising inflation or faster interest rates hikes.
Daimler starts building electric car batteries in Tuscaloosa
Daimler on Friday said it will start building a battery plant as part of its planned $1 billion investment to upgrade its factory in Tuscaloosa, Alabama, which has also started to produce a new sports utility vehicle, the GLE.
A decade of U.S. sluggishness may have just snapped back to normal
For a solid decade after the collapse of Lehman Brothers touched off a global financial crisis, there was good reason to think the U.S. economy remained broken, from skepticism about the health of the labor market to tepid economic growth and the morib…
N.Y. Fed lowers U.S. Q3, Q4 GDP growth view
U.S. gross domestic product is expanding at a 2.27 percent clip in the third quarter, slower than the 2.47 percent pace calculated a week ago, the New York Federal Reserve’s Nowcast model showed on Friday.
Are transportation stocks the market’s canary in a coal mine?
The U.S. transportation sector, which many see as a proxy indicator of the economy’s health, has retreated 3.1 percent from its Sept. 14 record, hinting to some analysts that the longest bull market on record has entered its late stages.
