U.S. President Barack Obama took to the airwaves today to try to calm a stock market set in turmoil by after market analysis firm Standard & Poor’s downgraded the U.S.’s debt rating to AA+ from AAA.
It’s day two of complete market mayhem. Has the chaos closed the window for companies looking to file for an initial public offering?
Update: As of 7:51 am PST, the Dow is down 2.62 percent and the Nasdaq is own 3.31 percent.
Could this be the end of an era?
We recently wrote about a study from Pace University that showed that the popularity of a company in social media can predict its daily stock price. Now economists at the Technical University of Munich (TUM) have launched a website that predicts individual stock trends based on Twitter chatter.
A new study conducted by a doctoral student at Pace University, in association with Famecount (which tracks how popular brands are according to social media) concludes that social media popularity can reliably predict daily stock prices.
Hackers have penetrated the computer network of the Nasdaq Stock Market during the past year, according to a story in the Wall Street Journal. Federal investigators are trying to figure out who did it and why.
Out with the old, in with the new.
Online investing service Betterment announced today that it has raised $3 million in a first round of funding led by Bessemer Venture Partners.
Yesterday’s sudden 1,000-point drop in the Dow Jones Industrial Average was created when a trading glitch caused Procter & Gamble, like a sinking ship, to suck down lots of helpless victims along with it. PG shares dove from $62 to $36 per share faster than Jim Cramer could yell “Buy!” on CNBC.