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Wall Street


Ted Pick is credited with spurring a revival in Morgan Stanley’s trading business.

Morgan Stanley’s Ted Pick to succeed CEO James Gorman

The head of investment banking and trading was one of three internal candidates, as James Gorman steps down in January after 14 years at the helm.

  • Sridhar Natarajan

This Month

Bill Ackman has closed his bond short, warning of a slowing US economy.

How Bill Ackman set off a wild night on markets

The legendary Wall Street hedge fund billionaire announced that he had covered his short in a night of bond market turbulence where the 10-year Treasury yield hit 5 per cent before plunging.

  • James Thomson
Fed boss Jerome Powell’s next opportunity to check bond volatility will be on November 1.

The Fed pivot that turbulent Treasuries need

At a minimum, US policymakers need to shift from backward-looking data to combining data dependency with a clearly articulated economic vision.

  • Mohamed El-Erian
Morgan Stanley’s Mike Wilson expects the S&P 500 to end the year at 3900.

Morgan Stanley’s Wilson says profit estimates are too high

The odds of a year-end rally in US stocks are fading as investors face a multitude of risks, according to Morgan Stanley’s Michael Wilson.

  • Sagarika Jaisinghani
Surging bond yields may have finally hit the ASX.

The ASX 200 has gone nowhere for 16 years

It’s not just bond yields testing levels not seen since just before the GFC. The ASX 200 is back where it was in November 2007, as Wall Street faces a crucial test.

  • James Thomson
So far, Wall Street analysts haven’t changed their bullish tune on the stock, though several have pared their price targets.

Nvidia dip-buyers burned by US chip battle with China

What looked like a prescient bet in mid-September – the stock surged 14 per cent over 15 trading days – has turned sour.

  • Carmen Reinicke
Federal Reserve chairman Jerome Powell speaks at a meeting of the Economic Club of New York.

‘Inflation is still too high’: Federal Reserve chairman

Jerome Powell said the “resilience” of both economic growth and the labour market “could warrant further tightening of monetary policy”.

  • Updated
  • Matthew Cranston
The Tesla Cybertruck pricing will be revealed next month.

Musk reveals Cybertruck delivery date

Tesla CEO Elon Musk has revealed Cybertruck electric pickup truck deliveries would begin next month.

  • Akash Sriram, Hyunjoo Jin and Joseph White
Goldman head of asset and wealth management Marc Nachmann: “Obviously you feel some pressure.”

Can this man reverse Goldman Sachs’ falling profits?

Responsibility for correcting two years of declines at the famed investment bank falls on the head of its funds management division.

  • Sridhar Natarajan
Fund managers are optimistic on the short-term outlook for equities.

More than half of fundies betting on year-end rally: BofA

As higher rates for longer whipsaws market sentiment, global fund managers have edged higher their cash positions, a contrarian buy equities’ signal.

  • Timothy Moore
Neil Phillips, left, co-founder and chief investment officer at Glen Point Capital, arrives at court in New York on Tuesday.

Glen Point trial reveals Morgan Stanley tried to buy back option

Morgan Stanley offered to buy back the option on December 18, 2017, starting at $US9 million. Three hours later, the bank said it was willing to pay $US13 million.

  • Chris Dolmetsch and Carter Johnson
Goldman CEO David Solomon: “We continue to be very optimistic about our view to deliver meaningfully higher returns to our shareholders.”

Goldman profit slumps 33pc as Solomon pleads patience on pivot

A second straight quarter of real estate writedowns and a continued dealmaking slump dented the Wall Street firm’s profitability.

  • Sridhar Natarajan
“The death of the US consumer has been greatly exaggerated,” Omair Sharif, president of Inflation Insights LLC, said in a note.

US retail sales top forecasts in sign of durable consumer demand

The value of retail purchases, unadjusted for inflation, increased 0.7 per cent after an upwardly revised 0.8 per cent gain in August.

  • Augusta Saraiva
Howard Marks, co-founder of Oaktree Capital, sees a regime change coming.

Howard Marks just said the most dangerous words for investors

The Wall Street icon has made one of the biggest calls in his career by predicting those who “confuse brains and a bull market” might be about to suffer.

  • James Thomson
Alden Ehrenreich, left, and Phoebe Dynevor in Fair Play.

When your fiancée gets that Wall Street hedge fund job you wanted

New Netflix film Fair Play is a gripping battle of the sexes set in a toxic, misogynist corporate world where power and sex are inextricably linked currencies.

  • Jake Coyle
SVB marked the largest bank collapse since the GFC and set the stage for the best short of 2023.

How this hedge fund pulled off 2023’s ‘big short’

Ravi Chopra’s Azora Capital successfully shorted all four of the US banks that failed in March and sent financial markets reeling.

  • Joshua Peach
SEC chairman Gary Gensler.

Hedge funds get new SEC mandate for reporting short sales

The US regulator finalised rules on Friday that require hedge funds and other big investors to report gross short positions in certain stocks at the end of each month.

  • Lydia Beyoud

Wild bond market moves show loss of anchors

The rout in the US government bond market can be attributed to the absence of all of its anchors, according to Mohamed El-Erian.

  • Isabelle Lee and Jonathan Ferro
Jamie Dimon.

JPMorgan notches another net interest income record, lifts guidance

JPMorgan, Wells Fargo and Citigroup each reported solid third-quarter results, bolstered by higher interest rates.

  • Hannah Levitt
Mike Wilson’s earnings per share target for this year of $US185 is the lowest on Wall Street, while his EPS forecast for 2024, $US228, predicts a 23 per cent rebound.

Morgan Stanley’s Wilson sees US stocks on ‘boom-bust-boom’ path

The prominent Wall Street equity bear’s target for the S&P 500 Index implies about a 10 per cent drop through the end of December.

  • Natalia Kniazhevich