Matt Phillips
The New York Times
New York, NY, United States
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Past articles by Matt:
Dealers pay record prices for used cars, reversing a trend that pointed to an easing of inflation.
Used car prices, normally a tiny contributor to overall inflation, have become a key influence on the direction of measures like the Consumer Price Index. → Read More
Ex-Employer of GameStop Trader ‘Roaring Kitty’ Fined for Lack of Oversight
The employee, Keith Gill, was also carrying out trades on behalf of three other people not affiliated with MassMutual, according to the settlement. → Read More
Stocks Shake Off Bad News to Rally for Seventh Straight Month
With expectations that interest rates will stay down and government spending will stay up, the stock market has learned to live with the pandemic, even as cases increase. → Read More
Banks Are Bingeing on Bonds, but Not Because They Want To
Banks are awash in deposits, and their customers are taking out fewer loans. So they have little choice but to buy up government debt, even if it means skimpy profits. → Read More
One Number to Gauge Where the Economy Is Headed
The yield on the 10-year Treasury note is often a reliable indicator of how Wall Street views the prospects of economic growth — especially when other data points send confusing signals. → Read More
Robinhood’s shares jump as much as 65 percent, like the meme stocks it enabled.
Robinhood became a publicly traded company only last week. Its stock stumbled in its first day of trading on Thursday, finishing down more than 8 percent. → Read More
Archegos Losses Mount With Morgan Stanley Taking a $900 Million Hit: Live Updates
James P. Gorman, the chief executive of Morgan Stanley, said the bank’s performance in the first three months of the year was strong despite losing $911 million when Archegos Capital Management collapsed.Credit...Aaron P. Bernstein/Reuters Morgan Stanley is the latest Wall Street bank to acknowledge significant losses tied to last month’s giant implosion of Archegos Capital Management, the… → Read More
Biden Sanctions on Russian Debt Called a ‘First Salvo’ That Send a Message
The curbs on U.S. banks’ purchases of some bonds apply to a small portion of the market but could signal a sharper aim at Russia’s access to global capital. → Read More
With Earnings Soaring, Wall Street Banks See Economic Boom Ahead
The banks said they released large chunks of money that had been set aside to cushion themselves from losses caused by the pandemic. → Read More
Wall Street Hits Another Record, Lifted by Tech Rally and Economic Optimism
Gains were largely driven by technology shares, and the record close was the latest in a series of new highs for the S&P 500. → Read More
Investment Firm’s Collapse Put Unseen Risks on Full Display
Archegos Capital Management’s use of swaps helped conceal its exposure to huge blocks of shares but showed once again how lightly regulated derivatives can shake the financial system. → Read More
Banks Face Billions in Losses as a Bet on ViacomCBS and Other Stocks Goes Awry
Archegos Capital Management, led by Bill Hwang, couldn’t meet financial demands, creating turmoil on Wall Street and raising questions about the fund’s ties to lenders. → Read More
GameStop says it is considering selling additional shares.
The company’s stock was down roughly 12 percent in after-hours trading. → Read More
Stock Rally Poses Question: When Does a Bull Become a Bubble?
The bull market, born out of the pandemic, has turned a year old. The remarkable turnaround has some analysts wondering if the breakneck pace is sustainable. → Read More
Recast as ‘Stimmies,’ Federal Relief Checks Drive a Stock Buying Spree
The government set out to prop up the economy. It may also be propping up the market. → Read More
Recast as ‘Stimmies,’ Federal Relief Checks Drive a Stock Buying Spree
The government set out to prop up the economy. It may also be propping up the market. → Read More
Penny Stocks Are Booming, Which Is Good News for Swindlers
Retail investors see the tiny companies as the next big opportunity after meme stocks and cryptocurrency. But shares are an easy target for fraud. → Read More
Congress hears testimony again on GameStop, focusing on the financial plumbing behind the frenzy.
Witnesses testified on the impact of so-called payment-for-order-flow on retail trading. → Read More
Stocks Rally as Jobs Report Signals Recovery: Live Updates
Wall Street snapped its losing streak on Friday after a surprisingly good reading on the American job market refocused investor attention to the brightening outlook for economic growth. The S&P 500 gained 2 percent, more than reversing Thursday’s 1.3 percent tumble and leading the benchmark to a slight weekly gain after two consecutive weeks in the red. The rise came after new data showed… → Read More
A Shadowy but Powerful Wall St. Firm Has Its Moment in Washington
Citadel and its sister business, Citadel Securities, were all over the GameStop debacle. Its founder will face sharp questions on Thursday. → Read More