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Buried in an otherwise mind-numbingly boring regulatory filing released recently was a seemingly innocuous line item that most people would not give a second thought. Sometime in the second quarter, Berkshire Hathaway invested a comparatively tiny 0.3% of their total portfolio into just a single new company. No big deal, right? But it wasn’t just any company. After spending decades as perhaps the most respected and widely-cited critic of gold as an investment, Warren Buffett bought 21 million shares of Barrick Gold — one of the largest gold mining companies in the world. It was so out of character that...

Elon Musk has become the fourth-richest person in the world, amassing a fortune worth nearly $85 billion. The mark was crossed on Monday after shares of Tesla Inc. surged more than 11%, boosting the affable tech exec's net worth by nearly $8 billion, according to Bloomberg. At a net worth of $84.8 billion, Musk trails only Facebook CEO Mark Zuckerberg, Microsoft co-founder Bill Gates and Amazon CEO Jeff Bezos on Bloomberg's Billionaires Index. Much of Musk's net worth is tied up in his electric car maker Tesla, which has seen its shares surge more than 300% this year. The car...

Apple today hit a market value of $2 trillion, doubling in valuation in just over two years. Apple, the first publicly traded U.S. company to reach a $1 trillion market cap, is now the first publicly traded U.S. company to reach a $2 trillion market cap. Apple first reached a $1 trillion market cap on August 2, 2018. On July 31, 2020, Apple surpassed the state oil giant Saudi Aramco to become the world’s most valuable publicly traded company. MacDailyNews Take: Congrats, Apple and AAPL shareholders! Onward and upward!

Warren Buffett has given up his long-held conviction against buying gold — and he’s meanwhile getting out of Goldman Sachs. The totemic tycoon revealed in filings late last week that he has scooped up more than 20 million shares of mining giant Barrick Gold Corp. even as he unloaded nearly all of his nearly 2 million shares in Goldman Sachs. The 89-year-old investing icon’s sudden embrace of the precious yellow metal — which has has previously derided as “useless,” saying that “anyone watching from Mars would be scratching their head” at the idea of investing in it — took many...

U.S. equity markets finished mixed on Monday after President Trump signed executive orders to provide COVID-19 relief while Congress ironed out its differences. The Dow Jones Industrial Average climbed 359 points, or 1.31%, while the S&P 500 was higher by 0.28%, extending its winning streak to seven days, the longest since April 2019. The tech-heavy Nasdaq Composite, meanwhile, continued its recent underperformance, falling 0.39%.

Eastman Kodak's (NYSE:KODK) hopes of becoming a key supplier to the pharmaceutical industry just hit a major snag. The one-time camera and film giant was attempting to use a $765 million loan from the U.S. government to pivot its ailing business. Its plan was to launch Kodak Pharmaceuticals, which would produce pharmaceutical ingredients deemed critical in the fight against COVID-19. Now, those plans have been thrown into disarray. A downwardly sloping stock chart. EASTMAN KODAK'S STOCK PLUMMETED ON NEWS THAT ITS LOAN COULD BE IN JEOPARDY. IMAGE SOURCE: GETTY IMAGES. The Defense Production Act loan was awarded to Kodak by...

Does Wall Street want Trump to win???? But cannot say so or the mob will be after them.... Or will it crash in October July and August the market usually does not move a lot..

Another astounding market rally, another big chunk of good market news ABC’s, CBS’s and NBC’s evening news shows censor because it isn’t anti-Trump.

U.S. equity markets rallied Monday as two COVID-19 vaccines were given “fast-track” status and earnings season kicked off with some better-than-expected results. Pfizer Inc. and BioNTech SE received fast-track designation for two of their experimental COVID-19 vaccines, helping offset news that the number of new daily COVID-19 infections in the U.S. remained above 60,000 all weekend.

Stock futures jumped Wednesday after drug developer Moderna said its coronavirus vaccine produced antibodies in all patients in an early trial, raising hopes for a faster economic recovery. Moderna's potential vaccine to prevent Covid-19 produced a "robust" immune response, or neutralizing antibodies, in all 45 patients in its early stage human trial, according to newly released data published Tuesday evening in the peer-reviewed New England Journal of Medicine. Shares of Moderna surged 15% in premarket trading. Stocks directly tied to an economic reopening jumped following the vaccine news. American Airlines, United Airlines, Royal Caribbean Cruise Lines all popped more than 7% each...

Stocks extended gains Monday morning after two pharmaceutical companies received “fast track” designation for the development of their vaccine candidates against Covid-19, stoking hopes of near-term inoculation amid the pandemic. Pfizer (PFE) and BioNTech SE (BNTX) announced that two of the companies’ four investigational vaccine candidates received the designation from the US Food and Drug Administration, which is intended to speed up both the development and review of new drugs and vaccines. Shares of both companies rose in pre-market trading. Over the weekend, some states again reported surging numbers of new coronavirus cases, as parts of the country struggled to...

Details on how former vice president Joe Biden would rebuild the U.S. economy in the wake of the COVID-19 pandemic if he were elected president in November hit the newswires on Thursday. And one thing was confirmed for many market watchers: A Biden presidency may not be so great for stock prices. “Biden will ensure that corporate America finally pays their fair share in taxes, puts their workers and communities first rather than their shareholders, and respects their workers’ power and voice in the workplace,” a Biden campaign email memo wrote Thursday. Titled “Build Back Better,” the plan is in...

There’s a common fear that Wall Street, buoyed by bullish sentiment, has gotten far ahead of the economic recovery and corporate earnings. However, despite continued volatility and uncertainty, analysts don’t expect a sharp market correction and say there’s still room for some upside for U.S. stocks ahead. Much better than expected economic data combined with positive news on drug treatments and potential vaccines for COVID-19 have bolstered investor confidence in recent months. But a spike in coronavirus cases as reopenings advance and the potential for a Democratic win in November pose downside risks to the stock market, according to analysts....

U.S. stocks finished sharply higher Monday, with the Nasdaq scoring a record close, as Wall Street followed surging Chinese equity benchmarks to their best levels in at least two years. Monday’s upbeat market action contrasted with a further spike in U.S. coronavirus cases and a resurgence of business restrictions by state and local authorities struggling to contain the viral outbreak. U.S. stocks ended up sharply Monday, led by shares of financial companies and record-setting technology shares as Wall Street followed Chinese equity markets higher. But Monday’s gains also came with growing doubts about the ability of the U.S. to contain...

Stocks rose sharply Monday morning, after new economic data showed a much stronger than expected rebound in US service sector activity in June. The upbeat data helped investors shake off fears over rising coronavirus cases, with infections continuing to march higher globally and domestically. The three major indices also followed global equities higher, with stocks in Europe and Asia gaining after an editorial in China’s state-run media outlet the Securities Times suggested the country prioritize fostering a “healthy” bull market after the pandemic. The Shanghai Composite index closed nearly 6% higher for its biggest gain in five years. Developments in...

U.S. stock-index futures added to gains on Thursday after a closely followed report on the health of the labor market showed that the U.S. added 4.76 million jobs in June and the unemployment fell to 11.1% from 13.3% in May, suggesting that the employment picture is improving after a stunning collapse due to the COVID-19 pandemic. Economists polled by MarketWatch had predicted 3.7 million jobs were created or restored in June, with some estimates ranging as high as 8 million.

ABC’s, CBS’s and NBC’s evening news shows continue to ignore great market news when it steams past their coronavirus panic and has even the slightest chance of making President Donald Trump’s economy look robust.

Stocks fell sharply on Wednesday as traders grew worried about the increasing number of newly confirmed coronavirus cases, which raised concern about the economic reopening and recovery. The Dow Jones Industrial Average dropped 727 points, or 2.8%. The S&P 500 traded 2.8% lower while the Nasdaq Composite slid 2.6%. The tech-heavy Nasdaq was headed for its first daily decline in nine sessions. The major averages hit their lows of the day after Florida said its confirmed cases jumped by 5,508 on Tuesday, a record, and now total 109,014. The state also said its positivity rate rose to 15.91% from 10.82%....

Stock extended gains Tuesday morning and the Nasdaq Composite hit a fresh record high as hopes for a coronavirus vaccine rose and U.S.-China trade fears dissipated. French drugmaker Sanofi (SNY, SNYNF) said on Tuesday that it anticipates it will receive approval for its potential Covid-19 vaccine it is creating with GlaxoSmithKline in the first half of 2021, which if successful would then be available in the second half of next year. While there are currently no vaccines to prevent the coronavirus, a host of pharmaceutical companies have entered the race to try and develop medicines to prevent and treat the...

Jeremy Grantham: ‘My confidence is rising quite rapidly that this is, in fact, becoming the fourth, real McCoy, bubble of my investment career. The great bubbles can go on a long time and inflict a lot of pain but at least I think we know now that we’re in one. And the chutzpah involved in having a bubble at a time of massive economic and financial uncertainty is substantial.’ "A market that may be the most bubblicious he’s seen in his storied career." "Grantham is worth paying attention to due to his prescient calls over the years. He said that...