Markets

US stocks close mixed as dismal jobs report offsets tech gains

US stocks closed mixed on Wednesday as a dismal ADP jobs report offsets tech gains. The Nasdaq Composite index climbed, while the S&P 500 and Dow Jones industrial average slid. The ADP report showed that US companies lost 20.2 million jobs in April. The government’s April jobs report is due […]
US stocks close mixed as dismal jobs report offsets tech gains
Markets

Billionaire Bill Ackman details a $2 billion bet he just made that coronavirus will be a ‘temporary but massive economic shock’

Bill Ackman, the billionaire investor and manager of Pershing Capital Square Management, said that as of March 23, the firm removed all of its hedges betting against the market in a Wednesday letter to investors. That generated $US2.6 billion in proceeds, compared with premiums and commissions of $US27 million. “Substantially […]
Billionaire Bill Ackman details a $2 billion bet he just made that coronavirus will be a ‘temporary but massive economic shock’