Wall Street closes lower as Fed officials project rate hikes for 2023
June 16 - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.New projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.The Fed cited an impr
Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets
Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers .So picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fis
Tesla China Deliveries Set EV Maker for Strong '21, Wedbush Says
Tesla is on pace to deliver 850,000 vehicles in 2021, a strong trajectory, according to Wedbush analyst Dan Ives.Tesla's March deliveries in China create a strong trajectory for the electric-vehicle major into the rest of 2021, Wedbush analyst Dan Ives says.The China Passenger Car Association on Friday reported its March numbers, showing that Tesla delivered 35,500 vehicles, about double the February figure."The narrative is [clear: Despite] the haters and bears focused on China EV sales softeni