Eli Lilly is on track for a new high Thursday after unveiling a service aimed at making it easier for patients to access weight-loss drugs. Jim Cramer says investors should let LLY stock ride. The Club holding launched LillyDirect, a website that connects patients directly to a telehealth provider who can prescribe the drugmaker’s weight-loss … Read more
The rebound emerging in the personal computer market is getting a major boost thanks to artificial intelligence and Microsoft ‘s biggest keyboard change in decades. Microsoft announced Thursday that upcoming Windows PCs will soon have a designated key for its AI virtual assistant Copilot . This is one of the most prominent updates to the … Read more
Cliff Asness. Chris Goodney | Bloomberg | Getty Images Cliff Asness’ longest running multistrategy fund at AQR Capital Management returned 18.5% last year, net of fees, according to a person familiar with the performance. The AQR Absolute Return strategy, which was created in 1998, benefited the most from profitable picks among value stocks in 2023, according … Read more
St. Louis Fed names Alberto G. Musalem as new president. Source: St. Louis Federal Reserve Economist Alberto Musalem was named the next president and CEO of the Federal Reserve Bank of St. Louis on Thursday. Musalem, 55, will start on April 2. He succeeds James Bullard, who joined Purdue University last August. The St. Louis … Read more
Yuichiro Chino | Moment | Getty Images Bitcoin rose on Thursday, recovering some of its losses from the previous day, when the cryptocurrency sold off on concerns about the potential of a bitcoin ETF approval that many expect as soon as next week. The flagship cryptocurrency was last higher by about 3% at $43,870.01, according … Read more
Ken Griffin, Citadel at CNBC’s Delivering Alpha, Sept. 28, 2022. Scott Mlyn | CNBC Billionaire investor Ken Griffin’s various hedge fund strategies at Citadel all posted double-digit returns for 2023, but they failed to beat the S&P 500. Citadel’s multistrategy Wellington fund gained 15.3% last year, according to a person familiar with the returns. The flagship … Read more
U.K. mortgage rates are falling as markets anticipate the Bank of England will start cutting interest rates toward the middle of the year — but uncertainty is likely to continue to dent buyer confidence. HSBC announced cuts beginning Thursday on its residential mortgage interest rates, with several falling below 5% for the first time since April … Read more
It’s a level not seen since George W. Bush was president. Wall Street forecaster Jim Bianco is predicting the benchmark 10-year Treasury note yield will hit 5.5% this year — its highest level since May 2001. A major part of his thesis is built on the economy’s strength and resiliency. “I don’t think the economy … Read more
Federal Reserve officials in December concluded that interest rate cuts are likely in 2024, though they appeared to provide little in the way of when that might occur, according to minutes from the meeting released Wednesday. At the meeting, the rate-setting Federal Open Market Committee agreed to hold its benchmark rate steady in a range … Read more
An employee rides a bicycle next to oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Maxim Shemetov | Reuters Oil rose more than 3% on Wednesday as tensions mount in the Middle East and OPEC pledges to remain united in supporting prices. The West Texas Intermediate contract for February … Read more
