DOJ investigating allegations around UAW President Shawn Fain

Key insight: Though FirstSun Capital characterized a $22 million fraud-related loss as “isolated,” another lender said fraud is becoming an increasingly serious problem. Forward look: FirstSun said its second-quarter charge-offs could reach $43 million, compared with less than $11 million for the three months ending March 31. Expert quote: “We treat everything we receive as…

Jeff Bezos has bankrolled his rocket company Blue Origin almost single-handedly for a quarter century, quietly selling roughly $1 billion of Amazon (AMZN 0.73%) stock a year to keep it flying. This week, he changed that playbook — and told investors something in the process. Blue Origin is raising about $10 billion in its first-ever…

Mortgage rates were rapidly approaching 10-month highs as of yesterday afternoon. They managed a friendly bounce today, but it was fairly small with the average lender dropping 0.03% to 6.5% for a top-tier 30yr fixed scenario. One reason for caution is that the rate improvement looks to be dependent on oil price volatility after this…

Warsh also announced five task forces to review the Fed’s operations, including one focused on communications, though the minutes noted that only “some participants commented that they welcomed the opportunity to review the Committee’s communications tools and practices.” The updated dot plot of individual rate projections tilted narrowly toward one hike this year. Nine of…

Foreign institutional investors (FIIs) may finally be showing early signs of returning to Indian equities after nearly two years of relentless selling, with improving global conditions and easing geopolitical tensions beginning to reverse the trend, according to a report by Motilal Oswal Financial Services (MOFSL).   Foreign investors have sold nearly $60 billion…

This article was written by Follow David H. Lerner is an analyst with a decade of experience utilizing his professional background in software consulting and technology to identify market trends and provide long and short trade ideas. David employs a combination of technical analysis and market psychology to capitalize on narratives for outsized returns. He…