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Hedge funds just made a big mistake on tech stocks.
Following the recent market correction, hedge funds and other large speculators made a poorly-timed decision to go net short tech stocks for the first time in 21 months. The tech-heavy Nasdaq 100 responded with a 5.6% gain, its best weekly performance since October 2014.
The prospect of rising inflation and the Federal Reserve’s possible reaction to it is Wall Street’s favorite new thing to worry about. And, after years of false alarms, “a sustained rise in inflation will hold the Fed’s feet to the fire,” according to Capital Economics.
Morgan Stanley says the stock market’s meltdown was just an “appetizer” – here’s how to protect against the next sell-off. Credit Suisse has identified what could be the next big breaking point for stocks.
Here’s what else is happening today:
- JPMorgan is building a new headquarters in New York City
- Something unusual is going on with gold
- There’s a surefire way to make a killing on the type of turmoil that sends stocks spiraling
- Amazon is zooming towards a record high
- Ex-JPMorgan trader turned bitcoin fund manager says ICOs are ‘a better mousetrap’ than IPOs – but only 5% are worth investing in
- A blunder at a Japanese cryptocurrency exchange let investors briefly buy bitcoins for free
- The South Korean government official in charge of cryptocurrency crackdown was found dead at his home
SpaceX is about to quietly launch the first 2 of nearly 12,000 satellites to blanket Earth in high-speed internet. Google has developed a way to predict your risk of a heart attack just by scanning your eye.
A startup is working with IBM’s Watson to tell marketers exactly where they should spend their media budget, and it claims it “can predict the future.” Tesla will face a reckoning this year if it doesn’t make a fundamental change.
Silicon Valley is so expensive that people who make $400,000 a year think they are middle-class.
Lastly, we drove the $65,000 Audi S5 Coupe – and it’s pretty much flawless.