Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange (NYSE) on June 13, 2018 in New York City. Following news today that the Federal Reserve raised interest rates a quarter percentage point, the Dow Jones Industrial Average was down 119 points at the close. Photo
Month: June 2018
Kohl’s stock has gotten ahead of itself, and it’s time to “step aside,” according to Citigroup, which downgraded the company to neutral from buy on lingering fears of weak traffic. “Outside of a major announcement of their partnerships expanding (which could help traffic), Kohl’s still has a challenge to drive traffic on its own,” analyst
Oracle is losing favor among technology buyers to leading cloud computing vendors, according to J.P. Morgan. The firm lowered its rating to neutral from overweight for Oracle shares, citing negative results in a spending survey of chief information officers. Oracle’s “specific metrics in our large-scale CIO survey have arced over into negative territory, which makes
Check out the companies making headlines before the bell: Comcast – Comcast is offering $65 billion for 21st Century Fox assets that Fox had already agreed to sell to Walt Disney. The bid by the NBCUniversal and CNBC parent is worth $35 per share and represents a 20 percent premium over Disney’s all-stock offer. Disney
J.P. Morgan Private Bank’s Stephen Parker is highlighting three groups that could outperform as interest rates climb. His first top pick: energy. “If you go back and look historically near the end of a cycle, energy has almost always outperformed and often times by a pretty meaningful amount,” the bank’s head of thematic equity solutions
WASHINGTON — Stephen K. Bannon, 10 months removed from the job of chief strategist to President Trump and five months after his ouster from the arch-conservative news site Breitbart News, is betting that Bitcoin and other cryptocurrencies can disrupt banking the way Mr. Trump disrupted American politics. Mr. Bannon won’t reveal very much about his
With one of this week’s major central bank decisions in the books, investors are turning their eye to the European Central Bank’s decision on monetary policy, due out Thursday before U.S. equity markets open. Boris Schlossberg, managing director of foreign exchange strategy at BK Asset Management, told CNBC’s “Trading Nation” on Wednesday what investors should
The Securities and Exchange Commission may be getting set to clear up confusion around whether and under what conditions initial coin offerings, and possibly alt-coins like ether and ripple, constitute securities. William Hinman, a key SEC official for formulating policy on bitcoin and blockchain, is speaking Thursday at Yahoo’s All Markets Summit: Crypto in San
Bitcoin (BTC) has made a 6 percent recovery from the 90-day low hit on Wednesday, neutralizing the immediate bearish outlook. The leading cryptocurrency fell to $6,108 at around 16:30 UTC yesterday on Bitfinex – its lowest level since February 6 – bolstering the already oversold conditions shown by the daily relative strength index (RSI) yesterday.
Formerly a developer and director of software engineering, Andrew Rodwin is a crypto assets and blockchain trainer in the Boston area. Add Jim Chanos to the list of venerable experts who consider cryptocurrencies to be a scam. Warren Buffett, Bill Gates, Robert Shiller and many others have made their opinion clear. According to 99bitcoins.com, bitcoin has
Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman are planning to meet Thursday ahead of next week’s important OPEC meeting, where the fate of their production deal could be decided and so could the direction of oil prices. As their national teams play each other in the World Cup, Putin and MBS,
Check out the companies making headlines after the bell on Wednesday: Shares of Tailored Brands plummeted nearly 20 percent after the bell, despite reporting first-quarter earnings and revenue that beat analysts’ expectations. The retail holding company reported earnings per share of 50 cents on revenue of $818 million, beating analysts’ estimates of 48 cents a
Contrary to popular belief, there is a difference between Ripple and XRP. To quote Michael Caine, “not a lot of people know that.” Even if people are aware, however, they still struggle to fully grasp the concept. This has caused many in the community to feel a certain sense of frustration, as Ripple, the company,
Signs are beginning to emerge that bitcoin’s sell-off today may be overextended. After hitting a 70-day low of $6,133 on CoinDesk’s Bitcoin Price Index (BPI), bitcoin’s relative strength index (RSI) hit a level (26.4) last seen in August of 2016, according to data from the Bitfinex exchange. The relative strength index, or RSI, is used
Homebuilders stocks are falling after a report from a housing market research firm. Zelman & Associates sent a note to its clients before the market open Wednesday, saying housing orders were seasonally weaker than normal, a person familiar with the report said. Shares of KB Home, D.R. Horton, Tolls Brothers and Lennar all fell by
XRP News – Following the news of the Coinrail hack, the crypto market suffered a major dip. This dip has continued well into the week, with numerous coins plummeting Wednesday. Take, Ripple (XRP), for instance. The cryptocurrency is down nearly 10% in the past twenty-four hours. In this article, we’re going to be looking at
Homes in vacation markets saw an exaggerated boom and bust over the past decade and have been slower to recover than homes in other markets. As the appeal of vacation homes has steadily eroded over the past decade, markets with the highest densities of vacation homes have underperformed the market in all but one year
Federal Reserve Chairman Jerome Powell said some companies are anecdotally telling the central bank that they are holding off on investments and hiring because of Trump administration trade policies, but there are no signs of any economic impact so far. Powell, speaking at a press briefing, said he would not comment on trade specifics, but
Douglas Elliman Real Estate Playboy Thomas Kramer’s former estate on Star Island. Lennar Corp. Executive Chairman Stuart Miller paid $33 million this week for the property once owned by German playboy Thomas Kramer on Star Island, the Miami Beach enclave featured as a backdrop to “Miami Vice” in the 1980s. It’s the highest price paid
Coinbase has formally launched a new index fund product aimed at large investors. Announced Wednesday in a blog post by product lead Rueben Bramanathan, the Coinbase Index Fund is now “open for investments” with a minimum required investment of $250,000. The fund will give investors access to all of the assets currently listed on Coinbase,
One of the best arguments for an S&P 500 index fund is that it beats most fund managers most of the time and the fees are usually close to zero. However, the S&P 500 basically is the market so it cannot grow faster than the economy in the long-run. If you can live with a long-run
Tether (USDT) & Bitcoin (BTC) – A new study has surfaced this morning putting Tether in the negative spotlight once again. Last December, Tether was subpoenaed by the U.S Commodity Futures Trading Commission to provide proof that the digital currency was in fact back by a reserve of U.S. dollars. Bitfinex was also subpoenaed due
Litecoin may have hit fresh 2018 lows Wednesday, but could be in for corrective rally courtesy of oversold conditions. The world’s sixth-largest cryptocurrency fell to $93 at 15:10 UTC, the lowest level since Dec. 8, and is currently trading at at $95.80 on Bitfinex, down 9 percent in the last 24 hours. The 48 percent
Photographer: Daniel Acker/Bloomberg News The Institute of International Finance (IIF) has released a worrisome report about the state of global debt, which includes this note about U.S. corporate debt: U.S. non-financial corporate debt hit a post-crisis high of 72% of GDP: At around $14.5 trillion in 2017, non-financial corporate sector debt was $810 billion higher
Federal Reserve Chairman Jerome Powell is about to raise interest rates again. Will the Fed throw a monkey wrench in the U.S. growth machine? Photo by Alex Wong/Getty Images. The Federal Reserve will raise interest rates by 25 basis points on Wednesday. No one is surprised. But as the Fed continues apace on its long
Opendoor, a start-up that buys and sells homes online, has just pulled in $325 million to expand its team, add more cities and move deeper into residential real estate. The new funding pushed the San Francisco-based company’s valuation past $2 billion and includes capital from homebuilder Lennar, whose COO, Jon Jaffe, will be joining the
Shares of drugstore CVS Health jumped on Wednesday, a day after a U.S. District Court decided to permit AT&T’s bid for Time Warner in what many on Wall Street are considering a tacit go-ahead for other so-called vertical mergers. The ruling may clear potential roadblocks ahead of the $69 billion tie-up between CVS and health
Bond market volatility is on the verge of a comeback, according to Sit Investment Associates’ Bryce Doty. On CNBC’s “Futures Now,” Doty predicted the 10-year Treasury yield won’t stay under 3 percent much longer. “It’s going to be kind of turbulent,” the senior portfolio manager said Tuesday. “I’m still expecting some more white-knuckle moments.” Doty
Twitter got the blue checkmark when it joined the S&P 500 last week, but its big gains have raised some technical flags for one chart watcher. “I like Twitter long term but it’s really extended here right now,” Frank Cappelleri, senior equity trader at Instinet, told CNBC’s “Trading Nation” on Tuesday. “Right now Twitter is
Bitcoin is still looking south, having hit four-month lows today, but the bearish momentum may wane due to short-term oversold conditions, the technical charts indicate. More bears joined the party in the U.S. session Tuesday after the cryptocurrency failed to cross twin resistance at $6,859 (50-hour moving average (MA) and 23.6 percent Fibonacci retracement). As