Catastrophic Wirecard Failure Send Stock Plunging 60% in 30 Minutes

The Wirecard stock dropped 60% after Ernst and Young (EY) said it found lacking evidence for $2.1 billion in cash. The company faced controversies throughout the past year. FT investigative reports found discrepancies in data across various company subsidiaries. The Wirecard stock plunged 60% after Ernst and Young (EY) said the company’s $2.1 billion cash …

Dow Futures Slump as Analysts Sound the Alarm on ‘Double-Dip’ Recession

Dow Jones futures fell by as much as 162 points Monday night. Analysts are warning of a “double-dip” recession if lockdown restrictions lead to a second wave of Covid-19 infections. Coronavirus has now infected more than 4.1 million people worldwide, according to official estimates. U.S. stock futures moved lower in overnight trading Monday, as investors …

Wild Stock Market Has a Bottom. That’s When the Panic Really Begins

The stock market is facing an “important test” according to Fidelity strategists. The S&P needs to hold 2,500 or stocks will careen back to the March 23 low, or even further. Morgan Stanley is confident we won’t go below that level and is aggressively buying the dips. We’ve just witnessed the fastest crash in the …

Stock Market Bears Freak Out As Desperate Fed Plots Junk Bond Feast

Federal Reserve Chairman Jerome Powell has announced the Fed will be purchasing high-yield corporate debt, otherwise known as “junk” bonds. This news helped lift the stock market, particularly impacting fallen angels like Ford (NYSE: F) Unfortunately, there could be systemic risks to the FOMC’s rapidly rising balance sheet, and stock market bears fear another crash. …

Stock Market Just Closed its Best Week Since 1974 – But Don’t Celebrate Yet

U.S. stock indices just closed their best week since 1974 as investors are optimistic that the coronavirus crisis is under control. This week’s gains might be a bear market rally, so we shouldn’t celebrate too soon. Many economists predict a deep recession that will hit earnings. The stock market climbed Thursday, continuing gains from Wednesday …