Market value of big fintech companies rises to $1 trillion, more than the largest banks

There may be a changing of the guard underway in financials. The market caps of payment stocks like Visa and MasterCard have eclipsed the value of Wall Street’s biggest banks, even as their balance sheets remain significantly smaller in comparison. Square, Visa, PayPal and MasterCard are collectively worth $1.07 trillion, while the “big six” banks, […]

Blackstone warns of a ‘lost decade’ where stock market returns are ‘anemic’

SINGAPORE — The coming years could be a “lost decade” for equity returns as companies struggle to grow their earnings, Blackstone’s Executive Vice Chairman, Tony James, told CNBC on Wednesday. James, who’s attending the virtual Singapore Summit, told CNBC’s “Squawk Box Asia” that stock prices may not rise further after becoming fully valued over a […]

Stock market’s 7% pullback? Get ready for more, as a 2009-style ‘stair-step’ rally continues, says Wall Street bull

The stock market’s September pullback was likely the first of many as it follows a “stair-step” playbook that echoes the rally off the financial-crisis low in 2009, one prominent Wall Street bull argued in a Monday note. “The 7% correction in the S&P 500 SPX, +1.27% over the past six trading sessions is likely the first of a […]

Why Fastly Stock Surged Today

What happened Shares of Fastly (NYSE:FSLY) jumped 9.6% on Monday, following news that TikTok owner ByteDance reached an agreement with Oracle (NYSE:ORCL) ahead of President Donald Trump’s deadline. So what The Trump administration demanded that ByteDance sell its U.S.-based TikTok operations, or face a ban in the U.S. “I set a date of around Sept. 15, at which point it’s going […]