![]() Hoffman estimates that the next two weeks of auctions could raise as much as $2 billion, double the amount of last year’s spring auction season.Ī “shot” at Marilyn. “There’s been a huge amount held back for two years, and there’s a huge amount of pent-up demand from new clients,” said Philip Hoffman, the founder of The Fine Art Group, a New York-based advisory company. The event, which kicks off the spring auction season, is being widely watched in art circles as a bellwether for the two weeks of sales ahead, and more broadly as an indication of whether top quality trophies can continue to command high prices, no matter the instability in the world, be it a war overseas, a pandemic or a terrorist attack.Ī surfeit of blue chip art will test demand for big-ticket works. That would be the highest auction price ever for a work by an American artist. This evening, in a charity auction run by Christie’s, Andy Warhol’s 1964 silk-screen of Marilyn Monroe, “Shot Sage Blue Marilyn,” is expected to sell for about $200 million. The company, though, said the terminations were the result of an unrelated internal review.Ī Marilyn by Warhol tests Manhattan’s auction season Insiders characterized the firings as a response to the union victory, the first for an Amazon location. Wade, Senate majority leader Chuck Schumer of New York said he would initiate proceedings today for a Wednesday vote on legislation that would codify abortion rights into law, despite clear evidence that the measure lacks support to be enacted.Īmazon fires senior managers at a newly unionized warehouse. Responding to the leaked draft Supreme Court opinion overturning Roe v. ![]() Enduring Meme Stocks: The frenzy that saw traders congregate on social media and push stock prices for companies like GameStop higher can no longer be explained as simply a pandemic phenomenon.What’s a family to do? There’s no one-size-fits-all answer, but you have options. College Savings : As the stock and bond markets wobble, 529 plans are taking a tumble.Weathering the Storm: The rout in the stock and bond markets has been especially rough on people paying for college, retirement or a new home.Discordant Views: Some investors just don’t see how the Federal Reserve can lower inflation without risking high unemployment.Our Coverage of the Investment World The decline of the stock and bond markets this year has been painful, and it remains difficult to predict what is in store for the future. For crypto, it could be a plunge of more than 60 percent. ![]() For tech stocks, that would be a further 25 percent drop. Some strategists are saying prices could continue to fall until they land back where they were before the pandemic. Share prices for Netflix, Meta and Peloton are all down substantially this year. Tech companies, both global powerhouses and start-ups, are also feeling the pain. Bitcoin this morning hit its lowest level since July 2021. Tech stocks and crypto prices are falling again. financial conditions has somewhat rebalanced the risks to the Fed’s mandate and potentially set the stage for a stabilization in the financial market environment,” the note said. In a research note published yesterday, Goldman Sachs said that it forecasts a recovery in major equity indexes. That has complicated the outlook for the global economy, though some Wall Street forecasters remain optimistic. economist for Nomura Securities.Īdding to the uncertainty are continued lockdowns in China, surging inflation, supply constraints and a spike in oil prices. “This is a very big change, and the markets are having trouble processing it,” said Robert Dent, senior U.S. Markets have become so accustomed to the Fed’s loose monetary policy of the past two decades that investors don’t know how to react now that the central bank is pulling back and trying to slow the economy. What’s driving the wild swings? The financial markets are coming to grips with a stunning policy change by the Federal Reserve, writes The Times columnist Jeff Sommer. Stocks rallied earlier last week, before suffering their largest-single day drop since the start of the pandemic on Thursday. The S&P 500 has now registered five consecutive weekly declines, its longest streak of losses since June 2011.
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