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<ul><li>Scientists at NASA have a theory that <keyword id="1298462" type="PERSON" weightage="20" keywordseo="Supermassive-Black-Holes">supermassive black holes</keyword> grow from groups of smaller black holes. </li><li>These ‘intermediate’ black holes are ‘seeds’ for supermassive black holes, supplemented by dust and gas. </li><li>But NASA is yet to confirm any sightings of black holes this size. </li></ul>Black holes are one of the most mysterious objects in outer space whose origins continue to perplex scientists. One theory is that <a href="https://www.businessinsider.in/supermassive-black-hole-is-eating-meals-worth-four-moons-thrice-a-day/articleshow/71090624.cms">supermassive black holes</a>, which have a mass of billions of Suns, grew from a set of smaller black holes. But these black hole ‘seeds’ — nourished by dust and gas — have never been seen. <div type="image" title="blackhole1_edited" msid="71287001" hostid="261" caption="&amp;lt;p&amp;gt; Artist’s representation of intermediate black holes that can form to make supermassive black holes&amp;lt;/p&amp;gt;"></div>

 In order to find these elusive entities, scientists at the National Aeronautics and Space Administration (<a href="https://www.nasa.gov/feature/black-hole-seeds-missing-in-cosmic-garden">NASA</a>) and other space agencies around the world have their telescopes hunting for ‘intermediate’ black holes. <keyword id="8143188" type="UNKNOWN" weightage="20" keywordseo="intermediate-black-holes">Intermediate black holes</keyword> NASA has found hundreds of <a href="https://www.businessinsider.in/black-hole-or-a-neutron-star-nasa-puzzled-over-strange-bright-lights-in-the-fireworks-galaxy/articleshow/71004593.cms">black holes</a> but none of them fit the bill to be seeds for supermassive black holes. Smaller black holes that are a result of exploding supernova, are only between 1 to 100 times the mass of the Sun. On the other hand, supermassive black holes serve as anchors for large galaxies. The <a href="https://www.businessinsider.in/milky-ways-supermassive-black-hole-just-lit-up/articleshow/70671308.cms">Milky Way</a>’s black hole — <a href="https://www.businessinsider.in/milky-ways-quiet-wimpy-black-hole-is-getting-hungrier-and-brighter/articleshow/71098006.cms">Sagittarius A*</a> — is equivalent to around 4.1 million Suns. The intermediate black holes that are meant to be the ‘seeds’ for supermassive black holes would fall somewhere in between. Scientists are currently looking for blackholes that have a mass of 100 to 100,000 Suns. Invisible or just really hard to find Scientists believe that during the formative days of the universe, exploding stars were not as ‘polluted’ with heavy elements. So, a supernova explosion could result in an intermediate black hole since the only materials available were pure hydrogen and helium. <div type="image" title="blackhole earlyuniverse_edited" msid="71287008" hostid="261" caption="&amp;lt;p&amp;gt;Artist&amp;#39;s conception illustrates one of the most primitive supermassive black holes known (central black dot) at the core of a young, star-rich galaxy &amp;lt;/p&amp;gt;"></div>

 It’s possible that all of the intermediate black holes that had to merge have already completed the process, according to NASA. But, it’s also possible that space technology just needs a <a href="https://www.businessinsider.in/new-black-hole-disk-found-by-hubble-in-starved-galaxy/articleshow/70185872.cms">few more tweaks</a> in order to locate them. Either way, finding a black hole in itself is a task since they <a href="https://www.businessinsider.in/first-image-of-black-hole-to-be-sharper-with-event-horizon-imager/articleshow/69245167.cms">don’t emit any light</a>. The only way black holes show up on specialised telescopes is when they’re feeding and the resulting energy emits light. Currently, the most promising candidate that NASA has is HLX-1. Discovered in 2009, the black hole has a mass of around 20,000 Suns with a cluster of young stars in its orbit. See also: <a href="https://www.businessinsider.in/black-holes-could-be-making-the-universe-expand-using-cores-of-pure-dark-energy/articleshow/71107403.cms">Black holes could be making the universe expand using cores of pure dark energy</a> <a href="https://www.businessinsider.in/new-black-hole-disk-found-by-hubble-in-starved-galaxy/articleshow/70185872.cms">Hubble has found a black hole disk that should be non-existent</a> <a href="https://www.businessinsider.in/millions-of-black-holes-in-milky-way-are-speeding-after-supernova-natal-kick/articleshow/70903931.cms">Millions of black holes are speeding around the Milky Way after being kicked at birth</a>

Supermassive black holes grew from mysterious ‘seeds’ that are yet to be found

NEW DELHI: An Indian-origin graduate student has discovered and measured one of the most elusive and mysterious objects in the <keyword id="6471260" type="PERSON" weightage="20" keywordseo="Universe">Universe</keyword> — a middling-sized black hole. 
 <keyword id="111767" type="ORGANIZATION" weightage="20" keywordseo="University-of-Maryland">University of Maryland</keyword> astronomy graduate student <keyword id="2476806" type="UNKNOWN" weightage="20" keywordseo="Dheeraj-Pasham">Dheeraj Pasham</keyword> and two colleagues made the measurements of the rare black hole which they found hiding in the well-known galaxy M82, some 12 million light years away from Earth. Their findings were published online on August 17 in the journal Nature. 
 
The reason why this discovery and the measurement are considered so significant is that these intermediate-mass black holes are hard to measure even their existence is sometimes disputed. Little is known about how they form, a Maryland varsity statement said. Some astronomers question whether they behave like other black holes. 
 
The universe has countless black holes and just our galaxy, the Milky Way, may have up to 100 million of them, it is thought. Nearly all black holes fall into one of two classes: big, and colossal. The ‘big’ ones have from about 10 times to 100 times the mass of our sun. They are the remnants of dying stars. The ‘colossal’ or supermassive black holes have more than a million times the mass of the sun. These giants inhabit the centres of most galaxies. 
 
But scattered across the universe are a few apparent black holes of the more mysterious type. 
 
 
Image courtesy http://www.astro.umd.edu/ 
Ranging from a hundred times to a few hundred thousand times the sun's mass, these intermediate-mass black holes are mysterious because they are difficult to pinpoint. 
 "Objects in this range are the least expected of all black holes," says <keyword id="2477180" type="UNKNOWN" weightage="20" keywordseo="Richard-Mushotzky">Richard Mushotzky</keyword> <keyword id="2477181" type="UNKNOWN" weightage="20" keywordseo="UMD-astronomy-professor-and-a-co-author">UMD astronomy professor and a co-author</keyword>. "Astronomers have been asking — do these objects exist or do they not exist? What are their properties? Until now we have not had the data to answer these questions." While the intermediate-mass black hole that the team studied is not the first one measured, it is the first one so precisely measured, Mushotzky says, "establishing it as a compelling example of this class of black holes." 
 
 
The regions around supermassive black holes shine brightly in X-rays. Some of this radiation comes from a surrounding disk, and most comes from the corona, pictured here in this <keyword id="1150" type="POSITION" weightage="20" keywordseo="Artist">artist</keyword>'s concept as the white light at the base of a jet. This is one of a few possible shapes predicted for coronas. Image Credit: Nasa/JPL-Caltech 
 
A black hole is a region in space containing a mass so dense that not even light can escape its gravity. Black holes are invisible, but astronomers can find them by tracking their gravitational pull on other objects. Matter being pulled into a black hole gathers around it like storm debris circling a tornado's centre. As this cosmic stuff rubs together it produces friction and light, making black holes among the universe's brightest objects. 
 Pasham, who will begin a post-doctoral research position at <keyword id="6360409" type="ORGANIZATION" weightage="20" keywordseo="NASA">Nasa</keyword> Goddard in late August, has identified six potential intermediate-mass black holes that Nasa’s to-be launched X-ray telescope NICER might explore.

Indian-origin Student Discovers And Measures Mysterious Black Hole

Washington, In an unexpected finding, <keyword id="49623" type="PERSON" weightage="20" keywordseo="Astronomers">astronomers</keyword> have discovered a concentration of <keyword id="10750018" type="UNKNOWN" weightage="20" keywordseo="smaller-black-holes">smaller black holes</keyword>, instead of one <keyword id="10641925" type="UNKNOWN" weightage="20" keywordseo="massive-black-hole">massive black hole</keyword>, lurking at the heart of the globular cluster NGC 6397. Globular clusters are extremely dense stellar systems, which host stars that are closely packed together. These systems are also typically very old -- the globular cluster at the focus of this study, NGC 6397, is almost as old as the universe itself. This cluster resides 7,800 light-years away, making it one of the closest globular clusters to Earth. Due to its very dense nucleus, it is known as a core-collapsed cluster. At first, astronomers thought the globular cluster hosted an intermediate-mass black hole. These are the long-sought "missing link" between supermassive black holes -- many millions of times our Sun's mass -- that lie at the cores of galaxies, and stellar-mass black holes -- a few times our Sun's mass -- that form following the collapse of a single massive star. Their mere existence is hotly debated. Only a few candidates have been identified to date. "We found very strong evidence for an invisible mass in the dense core of the globular cluster, but we were surprised to find that this <keyword id="10750017" type="UNKNOWN" weightage="20" keywordseo="extra-mass">extra mass</keyword> is not 'point-like' (that would be expected for a solitary massive black hole) but extended to a few percent of the size of the cluster," said Eduardo Vitral of the Paris Institute of Astrophysics (IAP) in Paris, France. To detect the elusive hidden mass, Vitral and Gary Mamon, also of IAP, used the velocities of stars in the cluster to determine the distribution of its total mass, that is the mass in the visible stars, as well as in faint stars and black holes. The more mass at some location, the faster the stars travel around it. The researchers used previous estimates of the stars' tiny proper motions (their apparent motions on the sky), which allow for determining their true velocities within the cluster. These precise measurements for stars in the cluster's core could only be made with Hubble Space Telescope's over several years of observation. The Hubble data were added to well-calibrated proper motion measurements provided by the <keyword id="59844" type="COMPANY" weightage="20" keywordseo="European-Space-Agency">European Space Agency</keyword>'s Gaia space observatory. "We used the theory of stellar evolution to conclude that most of the extra mass we found was in the form of black holes," said Mamon. "Ours is the first study to provide both the mass and the extent of what appears to be a collection of mostly black holes in the centre of a core-collapsed globular cluster," added Vitral. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/comparison-between-realme-x7-pro-5g-and-xiaomi-mi-10i-mobile-phones-with-price-and-specifications/articleshow/80873224.cms">Realme X7 Pro 5G vs Xiaomi Mi 10i – best mid-range device under ₹30,000 in India</a> <a href="https://www.businessinsider.in/defense/news/experts-say-india-and-china-both-need-to-show-their-voters-that-they-won-in-ladakh-for-the-disengagement-to-be-successful/articleshow/80876036.cms">Experts say India and China both need to show their voters that they won in Ladakh⁠ for the disengagement to be successful</a> <a href="https://www.businessinsider.in/business/ecommerce/news/why-grofers-may-allow-an-american-blank-cheque-firm-to-buy-it-out-instead-of-fighting-ambani-and-bigbasket-for-ipo/articleshow/80874979.cms">Here’s why Grofers may allow an American “blank cheque” firm to buy it out instead of fighting Ambani and BigBasket for IPO</a>

Astronomers thought it was one massive black hole — but it's actually cluster of smaller black holes with a whole lot of energy

<ul class="summary-list"><li><a href="https://www.businessinsider.com/category/black-holes">Black holes</a> are the densest objects in the universe, which gives them a powerful gravitational pull on the space around them.</li><li>They can be millions of times larger than suns and planets, or as small as a city. </li><li>Using just gravity, black holes can rip entire planets and stars apart - but how powerful they are depends on how much mass is inside. </li><li>Watch the video above to learn just how big black holes can get, like the supermassive black hole at the <a href="https://www.businessinsider.com/event-horizon-telescope-black-hole-snaps-first-image-messier-87-2019-4">center of M87.</a></li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a> </li></ul>Following is a transcript of the video.The cosmos can be a dangerous place. Take black holes for example. They're some of the most violent objects in our universe, powerful enough to rip entire stars to pieces.Their secret weapon is gravity. You see, the more mass you can shrink into a small space, the stronger your gravitational force will become. To make Earth into a black hole, for instance, you'd have to shrink it to less than an inch across.But real black holes are much larger than that and pack way more mass than Earth. Here's just how big black holes can really get.There are three common types of black holes. The smallest are stellar black holes, which form after a giant star explodes and collapses in on itself, like this one, which measures about 40 miles across, roughly three times the length of Manhattan. But in that small space is enough mass to equal 11 of our suns.In another galaxy called M33, there's a black hole that is 58 miles across and packs as much mass as 15.7 suns inside.Up next are the intermediate-mass black holes, like this one. At 1,460 miles across, it's nearly large enough to stretch from Florida to Maine, and according to some calculations, contains the mass of 400 suns.At this point, black holes start to get pretty big compared to Earth, but it's still nothing when you consider the sheer mass they carry. Take this black hole for example. It's nearly twice the size of Jupiter, spanning a region about 172,000 miles wide, but inside is as much mass as 47,000 suns.But these black holes are nothing compared to supermassive black holes, like Sagittarius A*, which lives at the center of our Milky Way galaxy. It covers a region about 14.6 million miles in diameter. That's roughly 168 Jupiters across, and inside is the same amount of mass as 4 million suns combined. Now, that may sound big, but Sagittarius A* is small compared to other supermassive black holes.Take the one at the center of our neighbor, the Andromeda galaxy, which has a diameter of 516 million miles, larger than Jupiter's orbit, and contains enough mass to equal that of 140 million suns. We're finally getting to some of the largest black holes in the universe, and yet, we haven't reached one that surpasses the size of our solar system.So let's look at the supermassive black hole at the center of the Sombrero galaxy. It measures 2 billion miles across, so it would stretch further than Uranus' orbit, and it has about the same mass as 660 million suns.And the supermassive black hole at the center of Messier 87 is so huge that astronomers could see it from 55 million light-years away. It's 24 billion miles across and contains the same mass as 6 1/2 billion suns. But this supermassive black hole, as large as it is, could still fit within our solar system with plenty of room to spare.So we have to look at one of the most massive of all supermassive black holes. It has a diameter of about 78 billion miles. For perspective, that's about 40% the size of our solar system, according to some estimates. And it's estimated to be about 21 billion times the mass of our sun.So there you have it, black holes can be millions of times larger than suns and planets or as small as a city. It all depends on how much mass is inside. Turns out, when it comes to the cosmos, size isn't the only thing that matters.

Incredible animation shows just how big supermassive black holes can get

<ul class="summary-list"><li>Physicists discovered a new type of <a href="https://www.businessinsider.com/astronomers-black-hole-dimmed-runaway-star-2020-7">black hole</a> in the "forbidden zone" of black-hole sizes, answering a question about whether such an object is physically possible.</li><li>Seven billion years ago, that black hole crashed into another one — the most distant, massive black-hole collision ever detected — sending out <a href="https://www.businessinsider.com/waves-from-black-hole-swallowing-neutron-star-2019-8">ripples in space-time</a> called <keyword id="1860685" type="PERSON" weightage="60" keywordseo="gravitational-waves">gravitational waves</keyword>.</li><li>The <a href="https://www.businessinsider.com/ligo-gravitational-wave-detector-more-powerful-squeezing-light-2019-12">Laser Interferometer Gravitational-Wave Observatory</a> picked up those waves.</li><li>That observatory has proved <keyword id="6417558" type="PERSON" weightage="60" keywordseo="albert-einstein">Albert Einstein</keyword> right about the existence of gravitational waves — and wrong about whether we'd ever detect them.</li></ul>Seven billion years ago, two <keyword id="4740034" type="PERSON" weightage="60" keywordseo="black-holes">black holes</keyword> crashed into each other and merged into one enormous black hole with the mass of 142 suns.The collision reverberated through space and time, and these ripples — a phenomenon called gravitational waves first predicted by Albert Einstein — traveled 16.5 billion light-years through the universe, reaching Earth in May 2019.For one-tenth of a second, the waves stretched the mile-long arms of two enormous <keyword id="55984" type="CITY" weightage="60" keywordseo="physics">physics</keyword> observatories: the <a href="https://www.businessinsider.com/ligo-gravitational-wave-detector-more-powerful-squeezing-light-2019-12">Laser Interferometer Gravitational-Wave Observatory</a> in the US and its Italian companion, <keyword id="645223" type="ENTERTAINMENT" weightage="60" keywordseo="Virgo">Virgo</keyword>.The scientists behind these observatories immediately knew they'd detected something unique."This doesn't look much like a chirp, which is what we typically detect," Nelson Christensen, a Virgo scientist and a researcher at the French National Center for Scientific Research, <a href="https://www.eurekalert.org/emb_releases/2020-09/nu-sdf083120.php">said in a press release</a>. "This is more like something that goes 'bang,' and it's the most massive signal <keyword id="6562538" type="ORGANIZATION" weightage="60" keywordseo="ligo">LIGO</keyword> and Virgo have seen."<div type="image" title="gravitational waves" height="413" width="551" msid="77895519" hostid="261"></div>The black-hole merger the observatories detected is the most massive and distant they've ever picked up. But more strikingly, it defies the known laws of physics.The scientists' calculations showed that the heavier black hole of the two that crashed was 85 times the mass of the sun — falling within a range that many physicists thought impossible."This is exactly what I predicted wasn't there," Stan Woosley, an astrophysicist who models the deaths of massive stars (the process that creates black holes), told Business Insider. "A big black hole smack-dab in the middle of the forbidden zone."LIGO and Virgo scientists described the new findings in two papers published Wednesday."This event opens more questions than it provides answers," Alan Weinstein, a LIGO scientist and a professor of physics at the California Institute of Technology, said in the release. "From the perspective of discovery and physics, it's a very exciting thing."<h2>'Some of us will owe bottles of wine to others'</h2>Black holes form when heavy stars die and collapse; their gravitational pulls are so strong that not even light can escape.There are two main types of black hole: stellar-mass (which are tens of solar masses) and supermassive (which have the mass of millions or even billions of suns).<div type="image" title="black hole" height="1682" width="2243" msid="77895524" hostid="261"></div>The 142-solar-mass black hole that formed as a result of this 7-billion-year-old collision is the first detected that's between 100 and 1,000 solar masses. This "intermediate mass" object could reveal a missing link between the two types of black holes. It may also help scientists understand where supermassive black holes come from.But the 85-solar-mass black hole involved in the collision wasn't supposed to exist at all.Though black-hole sizes can range "from microscopic to the size of the universe," Woosley said, his models suggest that when it comes to pairs of stars orbiting a shared center of gravity, "it would be very hard to form a black hole with a mass between about 50 and 130 solar masses."Instead, physics models suggest that stars in that mass range should die in a unique type of <a href="https://www.businessinsider.com/longest-observed-supernova-explosion-annihilated-massive-star-2019-8">supernova explosion that annihilates the star</a>, leaving behind no material to collapse into a dense black hole.<div type="image" title="supernova explosion" height="960" width="1280" msid="77895528" hostid="261"></div>"But nature finds a way," Woosley said. "In our defense, they had to scrounge around in a substantial fraction of the visible universe to find one. It's very far away."He added that physicists like him who predicted this mass gap would need to rethink their models. "We and a lot of other people will go back and look hard at our assumptions," Woosley said.That may also mean paying up on a lost bet against the gravitational-wave researchers."The observers will look for more — just one of anything is not nearly so nice as two. And some of us will owe bottles of wine to others," Woosley said. "I'm not 100% convinced that they saw an 85 [solar-mass black hole] but am convinced enough to pay out."<h2>The black hole could have grown from a previous collision</h2><div type="image" title="ZTF BH Merger" height="1406" width="1875" msid="77895531" hostid="261"></div>It's unlikely that this impossible black hole was created directly from a collapsing star, so some researchers think it could have come from a previous merger."There are many ideas about how to get around this — merging two stars together, embedding the black hole in a thick disc of material it can swallow, or primordial black holes created in the aftermath of the Big Bang," Christopher Berry, a gravitational-wave astronomer and LIGO researcher, said in the release. "The idea I really like is a hierarchical merger where we have a black hole formed from the previous merger of two smaller black holes."Woosley, too, said the black hole probably got so big because of something that happened after it formed."We really just predict the masses of black holes when they are born," he said.Another possibility is that the event LIGO and Virgo detected may not have been a black-hole merger at all. A collision, however, is the best fit for the data.<h2>Einstein's predictions led scientists to violent space collisions and a new realm of physics</h2><div type="image" title="neutron star collision" height="998" width="1330" msid="77895533" hostid="261"></div>Einstein predicted that collisions of massive objects, like black holes and neutron stars, would produce gravitational waves. But he didn't think anyone would ever detect these ripples in space-time — they seemed too weak to pick up on Earth amid all the noise and vibrations here.For 100 years, it seemed Einstein was right.But in the late 1990s, LIGO's machines in Washington and Louisiana were built in an attempt to pick up the signals. For the first 13 years, they waited in silence.Finally, in September 2015, LIGO detected its <a href="https://www.businessinsider.com/gravitational-waves-detected-first-time-ligo-2016-2">first gravitational waves</a>: signals from the merger of two black holes some 1.3 billion light-years away. The discovery opened a new field of astronomy, and three researchers who helped conceive of the experiment earned a <a href="https://www.businessinsider.com/2017-nobel-prize-in-physics-gravitational-waves-kip-thorne-rainer-weiss-barry-barish-2017-10">Nobel Prize in physics</a>.<div type="image" title="ligo nsf laser interferometer gravitational wave observatory" height="1691" width="2255" msid="77895536" hostid="261"></div>Since then, LIGO and Virgo have identified two other types of collisions. The observatories registered gravitational waves from <a href="https://www.businessinsider.com/neutron-stars-crash-ligo-gravitational-waves-periodic-elements-2017-10">two neutron stars merging</a> for the first time in October 2017. In August 2019, LIGO and Virgo detected what scientists believe was <a href="https://www.businessinsider.com/waves-from-black-hole-swallowing-neutron-star-2019-8">a black hole swallowing a neutron star</a>."After so many gravitational-wave observations since the first detection in 2015, it's exciting that the universe is still throwing new things at us, and this 85-solar-mass black hole is quite the curveball," Chase Kimball, an astronomy doctoral student at Northwestern University who works with the LIGO team, said in the release.Researchers expect to learn more as they delve further into this field of physics. Planned <a href="https://www.businessinsider.com/ligo-gravitational-wave-detector-more-powerful-squeezing-light-2019-12">upgrades</a> and <a href="https://www.businessinsider.com/earth-gravitational-wave-detector-ligo-virgo-upgrade-einstein-2019-10">new observatories</a> may enable scientists to detect new space collisions every day by the mid-2020s."Gravitational-wave observations are revolutionary," Berry said. "Each new detection refines our understanding of how black holes form. With these gravitational-wave breakthroughs, it won't be long until we have enough data to uncover the secrets of how black holes are born and how they grow."

A collision in space revealed a black hole that physicists thought could never exist. The observatory that detected it cracked a 100-year-old mystery posed by Einstein.

<ul class="summary-list"><li>US stocks fell on Friday after the monthly jobs report came in stronger than expected. </li><li>The economy added 199,000 jobs, and the unemployment rate fell to 3.7%.</li></ul>US stocks fell on Friday after a strong jobs report showed that markets may have miscalculated the chances of Fed rate cuts. The economy added 199,000 jobs in November, above forecasts for 190,000. The unemployment rate edged lower to 3.7%, while markets expected it to remain flat from October's 3.9%. Those numbers were a warning to investors that rate-cut speculation may have gone too far.Following the release, Treasury yields initially jumped more than 10 basis points before later paring gains."Just when you think the economy is finally softening, it continues to show signs of strength," Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, said, adding that "it's clear that the job market is still strong."Here's where US indexes stood as the market opened at 9:30 a.m. on Friday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">S&amp;P 500</a>: 4,579.71, down 0.13%</li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">Dow Jones Industrial Average</a>: 36,099.04, down 0.04% (14.99 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">Nasdaq Composite</a>: 14,283.58, down 0.39%</li></ul>Here's what else is going on:<ul><li>Jim Rogers said stocks, bonds, and real estate are all <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-jim-rogers-bubble-crash-recession-dollar-debt-2023-12">bubbles set to pop</a> as a recession approaches.</li><li>BlackRock said markets are in for a period of volatility as the economy <a href="https://markets.businessinsider.com/news/stocks/us-economy-2024-recession-outlook-interest-rates-fed-inflation-blackrock-2023-12">struggles out of its "deep hole."</a></li><li>The world's wealthiest families <a href="https://www.businessinsider.com/richest-wealthiest-families-hermes-abu-dhabi-waltons-billionaires-elon-musk-2023-12#:~:text=The%20world's%20ultra%2Drich%20families,fortune%20ballooning%20by%20%2456%20billion">got $1.5 trillion richer</a> in 2023.</li></ul>In commodities, bonds, and crypto: <ul><li>Oil prices rose with <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets" rel="">West Texas Intermediate</a> up 2.52% to $71.09 a barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">Brent crude</a>, the international benchmark, moved up 2.50% to $71.06 a barrel. </li><li><a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">Gold</a> slipped 0.38% to $2,038 per ounce.</li><li>The<a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel=""> 10-year Treasury yield</a> jumped 9 basis points to 4.22%.</li><li><a href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" rel="">Bitcoin</a> rose 0.77% to $43,590.39.</li></ul>

US stocks drop as hot jobs report dampens rate-cut hopes and sends bond yields higher

<ul class="summary-list"><li>US stocks climbed Tuesday, with investors adding to the year-end rally.</li><li>The Dow closed at a record high for another trading session.</li></ul>The Dow closed at a record high for another trading session Tuesday, while the S&amp;P 500 finished just below its own all-time high.The broad market index is now just 0.5% below the 4,796 record level it reached in January 2022. Equities have surged since the Fed signaled last week that three interest rate cuts are on the table for 2024.San Francisco Fed President Mary Daly further stoked those hopes, as she told the <a href="https://www.wsj.com/economy/central-banking/fed-official-says-rate-cuts-could-be-needed-next-year-to-prevent-over-tightening-29d009ce" target="_blank" rel="noopener">Wall Street Journal</a> that it's appropriate for the central bank to begin considering rate cuts in 2024. Meanwhile, data out Tuesday showed <a href="https://www.businessinsider.com/housing-market-outlook-construction-starts-homes-prices-mortgage-rates-builders-2023-12">November housing starts</a> unexpectedly rose 14.8% from the prior month to reach an annual level of 1.56 million. Here's where US indexes stood as the market closed at 4:00 p.m. on Tuesday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 4,768.37, up 0.59%</li></ul><ul><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 37,557.92, up 0.68% (251.90 points)</li></ul><ul><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq Composite</a>: 15,003.22, up 0.66%</li></ul>Here's what else is going on: <ul><li>BlackRock's proposed bitcoin ETF will <a href="https://markets.businessinsider.com/news/currencies/blackrock-bitcoin-spot-etf-sec-regulation-cash-redemptions-crypto-currency-2023-12">now allow cash redemptions</a> after pushback from the SEC.</li><li>A trader said <a href="https://markets.businessinsider.com/news/commodities/oil-market-outlook-opec-cuts-saudi-arabia-us-crude-supply-2023-12">no matter how much OPEC cuts oil production</a>, other countries will fill the hole. </li><li>The biggest risk to the stock market in 2024 may be a <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-biggest-2024-risk-fed-liquidity-shock-2023-12">liquidity shock</a> from the Fed.</li><li>An S&amp;P 500 fund just saw its <a href="https://markets.businessinsider.com/news/etf/sp500-spy-etf-inflow-stock-market-rally-fed-rate-cut-2023-12">biggest single-day inflow</a> ever for an ETF after the Fed signaled rate cuts.</li><li>A BlackRock bond guru warned not to put all your faith in the Fed for a <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-federal-reserve-rate-cuts-blackrock-rick-rieder-2023-12">March 2024 rate cut</a>.</li><li>Investors will swap dollars for stocks if <a href="https://markets.businessinsider.com/news/stocks/dollar-cash-trash-currencies-stock-market-outlook-interest-rates-newedge-2023-12">interest rates fall next year,</a> a strategist said.</li><li>Mergers and acquisitions have dropped more than 30% to fall short of $3 trillion for the first time in 10 years.</li></ul>In commodities, bonds, and crypto: <ul><li>Oil prices climbed, with<a href="https://markets.businessinsider.com/commodities/oil-price?type=wti"> West Texas Intermediate</a> up 1.53% to $73.58 a barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, moved higher 1.81% to $79.38 a barrel.</li><li><a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> edged higher 0.61% to $2,053.00 per ounce.</li><li>The<a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_medium=ingest&amp;utm_source=markets"> 10-year yield</a> moved lower 3 basis points to hover at 3.928%.</li><li><a href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> climbed 1.14% to $42,318.</li></ul>

Dow notches another record high amid continued rate-cut hopes

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://www.apimages.com/metadata/Index/APTOPIX-France-Protests/3df47f9cfb8a445baa529d81c78f7132/84/0">AP/Michel Euler</a>A protestor throws a scooter onto a pile of burning motorbikes during a yellow vest demonstration in Paris.</div></div></div>Here is what you need to know. <ol><li><a href="https://www.bloomberg.com/news/articles/2019-04-22/u-s-said-to-eliminate-iran-oil-waivers-after-may-2-expiration">Oil spikes on report the US will end Iran oil waivers</a>. West Texas Intermediate crude oil climbed 2.4% to $65.50 a barrel Monday morning after Bloomberg reported the US will end waivers that allow some countries, including China and India, to buy Iranian oil without facing sanctions. </li><li><a href="https://www.businessinsider.com/italy-perma-recession-systemic-crisis-threatens-eurozone-2019-4">Italy is trapped in a 'perma recession.'</a> Italy has a 2 trillion euro debt load that threatens the eurozone itself, analysts told Business Insider. </li><li><a href="https://www.reuters.com/article/us-nissan-ghosn-bail/ex-nissan-chairman-ghosn-applies-for-bail-over-latest-indictment-idUSKCN1RY0CA">Carlos Ghosn faces new charges</a>. The former Nissan Motors chairman on Monday applied for bail after being indicted with aggravated breach of trust, Reuters says. </li><li><a href="https://www.businessinsider.com/tesla-board-of-directors-changes-buss-rice-jurvetson-gracias-are-leaving-2019-4">Tesla shakes up its board</a>. Four board members (Brad Buss, Linda Rice, Steve Jurvetson, and Antonio Gracias) will leave their posts once their terms have ended, the electric-car maker announced on Friday. </li><li><a href="https://www.businessinsider.com/goldman-sachs-top-us-etf-trader-has-left-for-rival-jpmorgan-2019-4">Goldman Sachs' top US ETF trader jumps ship for JPMorgan</a>. Edward Rossetti, the head of ETF Trading in the US at Goldman Sachs is heading to JPMorgan, people familiar with the matter told Business Insider.</li><li><a href="https://markets.businessinsider.com/currencies/news/warren-buffett-12-predictions-bitcoin-table-tennis-death-2019-4-1028123943#1-cryptocurrencies1">Warren Buffett isn't always right</a>. Markets Insider looked at 12 predictions that Warren Buffett made over the years about things like cryptocurrency, table tennis, and even his own death, and assessed the accuracy of each.</li><li><a href="https://www.businessinsider.com/money-management-advice-top-ranked-advisor-rebecca-rothstein-details-big-strategy-shift-2019-4">A top-ranked wealth manager explains a huge strategic shift she made after 20 years of success</a>. Rebecca Rothstein, who manages $3.8 billion for the ultra-wealthy, explains why she decided to invest in stocks almost exclusively through exchange-traded funds. </li><li><a href="https://markets.businessinsider.com/indices">Most of Europe is closed for Easter Monday</a>. China's Shanghai Composite (-1.7%) led the losses in Asia while the S&amp;P 500 was set to open little changed near 2,907.</li><li><a href="https://markets.businessinsider.com/earnings-calendar#date=04/22/2019&amp;name=&amp;countries=&amp;eventtypes=99&amp;tab=ALL">Earnings reporting picks up</a>. Halliburton and Kimberly-Clark will report ahead of the opening bell while Whirlpool releases its quarterly results after markets close. </li><li><a href="https://markets.businessinsider.com/economic-calendar#date=04/22/2019&amp;name=&amp;countries=us&amp;eventtypes=&amp;tab=1,2,3">US economic data is light</a>. Existing home sales will cross the wires at 8:30 a.m. ET. The US 10-year yield was up 1 basis point at 2.57%. </li></ol> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/fall-into-black-hole-2016-11">Astronomers just captured the first image of a black hole. Here are the horrifying things that would happen if you fell into one.</a></h3> <div> </div> </div>

10 things you need to know before the opening bell

<ul class="summary-list"><li>US stocks fell at the open on Monday in a continuation of losses from Friday's session. </li><li>Investor sentiment remains sour after Fed chair Jerome Powell's latest comments on tightening. </li></ul>Us stocks opened lower Monday as investor sentiment remained sour following steep losses from Friday's session. Federal Reserve chair Jerome Powell remained steadfast in his Friday remarks in Wyoming that the central bank's priority is taming inflation. Wall Street had shown signs of optimism in previous sessions that the Fed would pull back in its tightening schedule on the heels of a better than expected inflation report last month. "Fed Chair Powell broke no new ground in Friday's Jackson Hole speech, but he offered very little to anyone hoping for a shift away from his recent hawkishness, still less anything that could be characterized as dovish," Ian Sheperdson, chief economist and Pantheon Macroeconomics wrote in report Monday. Sheperdson added that "the one glimmer of hope" was Powell's acknowledgement that price pressures were mostly due to the battle between supply and demand constraints. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Monday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 4,036.80, down 0.51%</li></ul><ul><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 32,088.03, down 0.61% (195.37 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq Composite</a>: 12,104.15, down 0.3%</li></ul>The world's largest asset manager is recommending that the central bank take a vacation once the current rate hike schedule concludes and should adopt a wait and see attitude toward inflation. A recent report from <a href="https://markets.businessinsider.com/news/stocks/jackson-hole-fed-powell-rate-hikes-economy-inflation-nasdaq-2022-8">BlackRock</a> said steep, continued benchmark rate hikes could reverse economic progress seen this year.UBS head of asset allocation Jason Draho thinks that markets are set for a bullish turn akin to the "<a href="https://www.businessinsider.com/where-to-invest-long-term-opportunities-stocks-roaring-20s-ubs-2022-8?nr_email_referer=1&amp;utm_source=Sailthru&amp;utm_medium=email&amp;utm_content=Opening_bell&amp;utm_campaign=Post%20Blast%20%20:%20Russia%27s%20economy%20hasn%27t%20cratered%20since%20Putin%20ordered%20the%20invasion%20of%20Ukraine%20%E2%80%94%20even%20though%20Wall%20Street%20thought%20it%20was%20inevitable.%20Here%27s%20what%20to%20know.&amp;utm_term=10%20THINGS%20BEFORE%20THE%20OPENING%20BELL%20SEND%20LIST">roaring 20s</a>," due to factors such as big investments in infrastructure and inward company investments.Elsewhere, <a href="https://markets.businessinsider.com/news/commodities/european-energy-crisis-russian-gas-storage-full-supply-winter-2022-8?nr_email_referer=1&amp;utm_source=Sailthru&amp;utm_medium=email&amp;utm_content=Opening_bell&amp;utm_campaign=Post%20Blast%20%20:%20Russia%27s%20economy%20hasn%27t%20cratered%20since%20Putin%20ordered%20the%20invasion%20of%20Ukraine%20%E2%80%94%20even%20though%20Wall%20Street%20thought%20it%20was%20inevitable.%20Here%27s%20what%20to%20know.&amp;utm_term=10%20THINGS%20BEFORE%20THE%20OPENING%20BELL%20SEND%20LIST">Russia's gas storage is over 90% full for the winter</a> while Europe is struggling to shore up supplies. Europe is grappling with an energy crisis exacerbated by the Kremlin's invasion of Ukraine. Oil was higher, with <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> climbing 1.55% to $94.52. International benchmark <a href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Brent Crude</a> jumped 1.52% to $102.58. <a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> gained 0.08% to $1,738.20. The 10-year-yield climbed 5.4 basis-points to 3.087%. <a href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> was up 0.13% at $19,985.35

US stocks fall to extend Friday's steep declines as investors grapple with hawkish Fed policy outlook

<ul class="summary-list"><li>US stocks were higher on Tuesday as investors tried to recover from the massive sell-off sparked by Evergrande.</li><li>Investors are also looking to the two-day meeting of the Federal Open <keyword id="11995361" type="UNKNOWN" weightage="60" keywordseo="market" source="Orion">Market</keyword> Committee.</li><li>Bitcoin, gold, and oil all edged higher.</li></ul>US stocks rebounded on Tuesday as investors recovered from the massive sell-off sparked by beleaguered Chinese developer Evergrande and looked to the Federal Reserve's two-day Federal Open Market Committee meeting beginning today. The <keyword id="11907242" type="UNKNOWN" weightage="60" keywordseo="dow-jones-industrial-average" source="Orion">Dow Jones Industrial Average</keyword> climbed about 140 points following its biggest drop since May. The tech-heavy <keyword id="11930332" type="UNKNOWN" weightage="60" keywordseo="nasdaq-100" source="Orion">Nasdaq 100</keyword> and benchmark <keyword id="30287" type="UNKNOWN" weightage="60" keywordseo="sp" source="Orion">S&amp;P</keyword> 500 both gained as well. Here's where US indexes stood at the 9:30 a.m. ET open on Tuesday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingesttm_medium=ingest" target="_blank" rel="noopener">S&amp;P 500</a>: 4,373.38, up 0.36% </li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest" target="_blank" rel="noopener">Dow Jones Industrial Average</a>: 34,089.36, up 0.35% (118.89 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest" target="_blank" rel="noopener">Nasdaq Composite</a>: 14,783.12, up 0.47%</li></ul>"China's market is opaque and unpredictable and the <keyword id="11895235" type="UNKNOWN" weightage="60" keywordseo="stock-market" source="Orion">stock market</keyword> doesn't react well to those characteristics, which is one reason why Monday's selloff was so dramatic," George Ball, chairman of Sanders Morris Harris, an investment firm, said in a note. "We know so little about China's economy and its inner workings."Evergrande, China's second-largest property developer, has <a href="https://markets.businessinsider.com/news/stocks/evergrande-stock-market-selloff-what-to-know-debt-crisis-china-2021-9?utm_source=markets&amp;utm_medium=ingestgest">more than $300 billion</a> in liabilities and could miss key interest payments due Thursday. There are no signs yet that the Chinese government will step in to save the company.Fears about Evergrande collapsing and hurting the broader Chinese economy sent global stocks sliding on Monday.In addition to worries about Evergrande's potential to spark further risk to the global financial system, investors are anxious about the Federal Reserve's potential tapering of stimulus and the risk of a prolonged period of inflation, Ball said.While several analysts, including those at BlackRock Investment Institute, do not expect Fed Chair Jerome Powell to announce any policy change this month, they are still keeping a close eye on any signal of how he plans to scale back monetary support, which includes tapering asset purchases."We expect the Fed to start normalizing policy rates in 2023, a much slower pace than market pricing for lift-off in 2022 indicates," the BlackRock analysts said in a <a href="https://www.blackrock.com/corporate/insights/blackrock-investment-institute/publications/weekly-commentary">note</a>.They added that Powell assured the investors during the annual Jackson Hole symposium that he will give a strong signal that one will come before year-end if employment gains keep up. Elsewhere, WeWork is planning to <a href="https://markets.businessinsider.com/news/stocks/wework-ipo-coworking-spac-deal-stock-market-public-listing-2021-9">make its stock-market debut</a> sometime in October, more than two years after its original IPO attempt failed. The shared-workspace company <a href="https://www.businessinsider.com/wework-spac-bowx-merger-public-2021-3?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">agreed in March to go public via a merger</a> with SPAC BowX Acquisition Corp.<a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-evergrande-default-crypto-sell-off-spillover-global-stocks-2021-9#:~:text=the%20Opening%20Bell.-,Bitcoin,-fell%20below%20%2445%2C000">Bitcoin</a> edged higher above $43,000 after a broader cryptocurrency sell-off Monday. Oil prices rebounded. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">West Texas Intermediate crude</a> climbed as much as 1.01%, to $71.00 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestarkets&amp;utm_medium=ingest" target="_blank" rel="noopener">Brent crude</a>, oil's international benchmark, fell 1.79%, to $73.99 per barrel.<a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Gold</a> jumped as much as 0.47%, to $1,773.45 per ounce.

US stocks climb after Evergrande sell-off as investors look to Fed meeting

<ul class="summary-list"><li>The <keyword id="123873" type="PERSON" weightage="60" keywordseo="SP-500">S&amp;P 500</keyword> closed at a record high on Wednesday as minutes from the last FOMC meeting signaled minimal changes to the central bank's narrative on inflation, interest rates, and asset purchases. </li><li>The minutes showed officials are continuing to make progress towards reaching the threshold to scale back asset purchases. </li><li id="recirc">The yield on the US 10-year Treasury fell as low as 1.295%, the lowest point since late February. </li></ul>The S&amp;P 500 closed at a record high on Wednesday amid falling Treasury yields as minutes from the Federal Reserve's June meeting showed policymakers are continuing to make progress towards reaching their threshold to scaling back asset purchases.The minutes showed that several participants are still uncertain about the outlook for growth and inflation, saying it's "too early to draw firm conclusions about the paths of the labor market and inflation." Fed officials also discussed tapering asset purchases but there was no consensus on the timeline.Here's where US indexes stood at the 4 p.m. ET close on Wednesday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500_500" target="_blank" rel="noopener">S&amp;P 500:</a> 4,358.13, up 0.3%</li><li><a href="https://markets.businessinsider.com/index/dow_jones" target="_blank" rel="noopener">Dow Jones industrial average</a>: 34,681.79, up 0.3% (104 points) </li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite" target="_blank" rel="noopener">Nasdaq composite</a>: 14,665.06, up 0.01%</li></ul>Read more: <a href="https://www.businessinsider.com/crypto-investing-staking-high-yield-savings-interest-process-tiktok-influencer-2021-7" target="_blank" rel="noopener">How to earn up to 100% interest on your crypto: A TikTok influencer shares 5 platforms he uses to stake bitcoin and 8 altcoins - and the interest each one offers</a>"We didn't expect much from today's FOMC Minutes, and our expectations were met. The majority of the new information delivered by the Fed was already distributed to the <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> via the Summary of Economic Projections and the 'dots'," said economists from Jefferies. Jefferies expects more details on the future of policy to emerge from the Fed's meeting at Jackson Hole later this summer.The yield on the US 10-year Treasury fell as low as 1.295%, the lowest point since late February. The S&amp;P 500 has hit a record closing high in eight of the past nine trading days.Amid massive US stimulus and record high stocks, BlackRock strategists have <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-blackrock-downgrades-us-stocks-reopening-europe-japan-2021-7">switched to a neutral stance on US stocks</a> while upgrading their views on European and Japanese equities, which they see as growing beneficiaries from the further reopenings of economies shut down by the COVID-19 crisis. The BlackRock Investment Institute outlined, among other items, its six to 12-month tactical views on selected assets in a <a href="https://www.blackrock.com/corporate/insights/blackrock-investment-institute/publications/outlook" target="_blank" rel="noopener">mid-year report </a>released Wednesday.<a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> traded just under $35,000 on Wednesday after briefly overtaking the level.Oil prices recovered after falling on Tuesday, despite <a href="https://markets.businessinsider.com/news/stocks/oil-price-opec-meeting-abandoned-3-year-high-supply-tighten-2021-7?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">rising sharply earlier in the day</a> after a meeting between the OPEC+ group of oil-producing countries was abruptly called off.<a href="https://markets.businessinsider.com/commodities/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingestgest">West Texas Intermediate crude</a> fell as much as 3.1%, to $71.07 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestarkets&amp;utm_medium=ingest">Brent crude</a>, oil's international benchmark, dropped 2.6%, to $72.60 per barrel, at intraday lows.<a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingestgest">Gold</a> climbed as much as 0.7%, to $1,810 per ounce.

S&P 500 closes at record high as FOMC minutes show little changes to rate outlook

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="http://pictures.reuters.com/Package/2C0BF1OW4OW89#/SearchResult&amp;ALID=2C0BF1OW4OW89&amp;VBID=2C0BX4NWMSXD&amp;POPUPPN=15&amp;POPUPIID=2C0BF1OWF4JU0">Reuters/Gonzalo Fuentes</a></div></div></div>Stocks keep rallying. On Monday US stocks were higher across the board, continuing last week's rally that was the year's best. Crude oil prices also rallied on Monday with West Texas Intermediate crude rising 5%. First, the scoreboard:<ul><li>Dow: 16,620.7, +228.7, (+1.4%)</li><li>S&amp;P 500: 1,945.5, +27.7, (+1.5%)</li><li>Nasdaq: 4,570.6, +66.2, (+1.5%)</li><li>WTI crude oil: $33.35, +5%</li></ul><h2>Markets Can Be Scary</h2>Last week things seemed to be turning around. Monday's rally affirmed the bulls.But because sentiment lags price both on the way down and way up, <a href="http://www.businessinsider.com/englander-global-economy-is-black-hole-2016-2">Steven Englander at Citi found</a> that almost every client he talked to last week when he hopped a flight to Asia thought the world economy was a "black hole."Englander writes:The prevailing view is that the global economy is like a shopping mall on the rocks. One anchor store gave unlimited credit to suppliers who overproduced on a massive scale. The second anchor gave free credit to customers who don't want to buy anymore. The interior tenants are stressed by ineffective management, a product mix that no longer appeals, pilfering and dismay that the consultants they hired introduced failed strategies.I don't agree with this view, at least with respect to the US and the divergence trade, but I was clearly in a small minority in not seeing the global economy as a black hole.And this is scary because both decrepit malls and black holes are not reassuring images for investors hoping to find some solace during what has been a very stressful year. For his part, Englander thinks these concerns are somewhat overblown and is more sanguine about the future growth trajectory of the global economy than the investors he met with. But this is what's out there, still. Meanwhile here at Business Insider, <a href="http://www.businessinsider.com/risk-of-a-stock-market-crash-2016-2">Henry Blodget was out over the weekend</a> with his latest warning that stocks could crash. With an assist from John Hussman, Blodget argued:Hussman's key observation about that chart - and the charts of many other market crashes in history, the most recent two of which he has correctly called in advance (2000 and 2007) - is that market crashes generally follow the same pattern.First, in a market in which stocks are highly overvalued (as they are today) and in which investors are increasingly risk-averse (as they are today - see the spreads on interest rates between safe and risky bonds), crashes are much more likely than they are in any other market environment.Second, crashes do not just happen suddenly - for years everything's great and then one day the market just falls out of the sky. Rather, crashes develop over many months. And the "crash" itself - the period of massive, near-vertical market losses - generally starts after the market is already down about 15%.That's the insight to note in the chart above.And here's that chart, below this time:<div class="KonaFilter image-container display-table"><div><div class="image"><a href="http://www.hussmanfunds.com/wmc/wmc160215.htm">John Hussman, Hussman Funds</a></div></div></div>Andy Kiersz <a href="http://www.businessinsider.com/long-term-stock-price-returns-2016-2">notes that for long-term investors</a>, there really is only one thing to keep in mind: stocks go up. This chart from Kiersz - with an assist from Robert Shiller - shows the returns if you bought and held stocks for any month over the last 140 or so years.Some months served as better buying opportunities than others, but the best thing to do was buy and hold. Definitely hold, at least.Of course, this trend might turn out to be a fluke and stocks might be a lousy investment going forward. But as is the case in all investment research, though past performance may not reflect future results, all we've got is the past performance. <div class="KonaFilter image-container display-table"><div><div class="image"><a href="http://www.econ.yale.edu/~shiller/data.htm">Business Insider/Andy Kiersz, data from Robert Shiller</a></div></div></div><h2>Recession Watch, 2016</h2>Ward McCarthy at Jefferies <a href="http://www.businessinsider.com/yield-curve-not-indicating-recession-2016-2">doesn't think the flattening of the yield curve</a> means we're heading for recession. "Is the flattening trend in the yield curve signaling that the US economy is headed for a recession? The answer is no," McCarthy wrote in a note to clients Monday."The slope of the coupon curve, as measured by the spread between the 2-year and 30-year, has averaged 144 bps," McCarthy wrote. "By historical standards, consequently, the current slope of the yield curve is steep, not flat."Steep! You never hear that! 2016 has been about one thing and one thing only: flattening yield curves and recession probabilities. Flattening - let alone inverted - <a href="http://www.businessinsider.com/yield-curve-great-at-predicting-recessions-2015-12">yield curves are bad</a>. But in a post-QE, NIRP-filled world it's worth thinking about how much we can glean from this curve, and if the traditional dynamics we've learned impact the bond market and the world economy are still in play. Related: are online lenders telling us something bad about the economy?<a href="http://www.businessinsider.com/ft-alphaville-the-online-lending-market-and-the-us-economy-2016-2">Maybe</a>. Rates at online lenders like Prosper and Lending Club have gone up, but so has the Fed's benchmark rate. Additionally, <a href="http://www.businessinsider.com/welcome-to-the-great-monetary-tightening-2016-2">overall financial conditions have tightened</a>.But there was also an uptick in delinquencies from some of these lenders' borrowers in the second half of 2015. So, what to make of it? Well, consumers not paying back their loans is not a good sign. But even if you're a creditworthy borrower on paper, needing to take out a loan from an online servicer that charges 14% or 15% (instead of, say, a bank) must indicate some kind of financial stress that a small hiccup in one's standing would upset, right? Maybe!Certainly a car loan or a mortgage is going to be cheaper than an online lender loan. Credit card debt is still more expensive. The thing is: there are lots of signs that the economy, particularly the financialized economy, has had a tough six months. This doesn't mean, however, that the whole thing is rolling over.For now.<h2>The 'Big Short'</h2>Auto sales have been on fire and the idea that subprime auto lending would create<a href="http://www.businessinsider.com/next-big-short-doesnt-make-sense-2016-2"> the next "Big Short"</a> opportunity has been around for a while.But there's a problem: you're betting against cars, not houses.A <a href="http://www.bloomberg.com/news/articles/2016-02-11/some-hedge-funds-want-to-make-subprime-auto-loans-next-big-short">story earlier this month from Bloomberg News</a> said that some investors were looking to bundle auto loans and short them a la the famous trade executed by the heroes of Michael Lewis' famous book about the financial crisis.(Also: a movie.)But so while <a href="https://twitter.com/TheStalwart/status/701797393096900608">a problem with this trade</a> is certainly that people are calling it the next "Big Short," that these loans are of shorter duration and smaller magnitude, not to mention backed by a readily re-possessed asset, makes them not nearly as potent a shorting opportunity as a house. <h2>Oil</h2>So, the International Energy Agency doesn't want to make a call about what oil prices definitely will or won't do.But. "It is very tempting, but also very dangerous, to declare that we are in a new era of lower oil prices. But at the risk of tempting fate, we must say that today's oil market conditions do not suggest that prices can recover sharply in the immediate future - unless, of course, there is a major geopolitical event," <a href="http://www.businessinsider.com/iea-says-seems-like-new-era-of-lower-oil-2016-2">the IEA wrote in a report out Monday</a>.Nice hedge.The IEA added: "The world of peak oil supply has been turned on its head, due to structural changes in the economies of key developing countries and major efforts to improve energy efficiency everywhere."The basic thesis is that everything we knew about oil was wrong. Peak oil? Wrong. Shale won't last? Wrong. Saudi Arabia and their gulf peers have a total lock on the market and control of prices? Wrong.And so here we are, oil is rallying and we're still looking at WTI trading near $33 a barrel. It wasn't that long that $100 was normal(ish).<h2>Insurance</h2>Warren Buffett is expected to publish his latest letter to shareholders on Saturday.As we get closer to that date expect us to roll out some reflections from his recent letter(s) as we look forward to Buffett's notes on a 51st letter to Berkshire Hathaway shareholders.(Disclosure: I am a shareholder.)<a href="http://www.businessinsider.com/warren-buffett-on-float-2016-2">And so for today, here's Warren Buffett on float</a>:So how does our float affect intrinsic value? When Berkshire's book value is calculated, the full amount of our float is deducted as a liability, just as if we had to pay it out tomorrow and could not replenish it. But to think of float as strictly a liability is incorrect; it should instead be viewed as a revolving fund. Daily, we pay old claims and related expenses - a huge $22.7 billion to more than six million claimants in 2014 - and that reduces float. Just as surely, we each day write new business and thereby generate new claims that add to float.If our revolving float is both costless and long-enduring, which I believe it will be, the true value of this liability is dramatically less than the accounting liability. Owing $1 that in effect will never leave the premises - because new business is almost certain to deliver a substitute - is worlds different from owing $1 that will go out the door tomorrow and not be replaced. The two types of liabilities are treated as equals, however, under GAAP.A partial offset to this overstated liability is a $15.5 billion "goodwill" asset that we incurred in buying our insurance companies and that increases book value. In very large part, this goodwill represents the price we paid for the float-generating capabilities of our insurance operations. The cost of the goodwill, however, has no bearing on its true value. For example, if an insurance company sustains large and prolonged underwriting losses, any goodwill asset carried on the books should be deemed valueless, whatever its original cost.Fortunately, that does not describe Berkshire. Charlie and I believe the true economic value of our insurance goodwill - what we would happily pay for float of similar quality were we to purchase an insurance operation possessing it - to be far in excess of its historic carrying value. Under present accounting rules (with which we agree) this excess value will never be entered on our books. But I can assure you that it's real. That's one reason - a huge reason - why we believe Berkshire's intrinsic business value substantially exceeds its book value.<h2>Additionally</h2><a href="http://www.businessinsider.com/sovereign-wealth-funds-selling-2016-2">Sovereign Wealth Funds look set to pull money out of the market</a>. <a href="http://www.businessinsider.com/stefanie-williams-response-to-yelp-employee-talia-jane-2016-2">A 29-year-old millennial ripped a 25-year-old millennial that got fired from Yelp after complaining about her pay in an epic Medium post published this weekend</a>. <a href="http://www.businessinsider.com/oscars-2016-predictions-2016-2">Oscar predictions</a>. <a href="http://www.businessinsider.com/ted-cruz-rick-tyler-resign-2016-2">Ted Cruz asked his top spokesman to resign for spreading a 'false' Marco Rubio story</a>.<a href="http://www.businessinsider.com/over-half-of-americans-think-apple-should-unlock-san-bernardino-iphone-2016-2">Over half of Americans think Apple should unlock the San Bernardino shooter's iPhone</a>. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/cam-newton-carolina-panthers-press-conference-nfl-denver-broncos-super-bowl-2016-2"> Here's the question that prompted Cam Newton to storm out of his postgame press conference</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="VoZG5yMDE6VHP_GWa6so3qlVcSAMa9_y" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You Searched For "intermediate black holes" and got 12 results

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