General Motors raced higher on Monday as investors applauded major restructuring plans that could save the automaker billions a year. Its stock surged more than 5 percent, hitting levels not seen since the summer. Ari Wald, head of technical analysis at Oppenheimer, says it can rally further if it can break its key resistance level
Month: November 2018
Check out the companies making headlines before the bell: Deere – The heavy equipment maker earned an adjusted $2.30 per share for its fiscal fourth quarter, 15 cents a share shy of estimates. Revenue also came in short of Street forecasts. Deere said sales improved from a year ago, thanks to strength in the farm
Having left one of the world’s largest financial institutions to build an ethereum startup, Amber Baldet appreciates both the needs of enterprises and the potential of open, decentralized blockchains. But in the Clovyr co-founder’s view, it’s too soon for the former to start doing much with the latter. “We want to build those bridges out
GettyGetty Marijuana legalization brings the money – there is no doubt about it. Year after year, states that have legalized the leaf have shown that chopping the head off the beast of the black market pot trade can have billions of dollars in economic impact. Even before a single marijuana product is sold, real estate
Amazon hasn’t even moved in yet, but Long Island City’s housing is already seeing a surge of interest. Locally, the retail giant’s decision to build two new headquarter locations has been controversial, and met by growing backlash over the incentives provided by the city and state. Yet in the weeks following the announcement, the Queens
With bitcoin prices dropping further early on Sunday, the cryptocurrency now looks to be heading for its worst weekly loss in over 5 years. At press time, the leading cryptocurrency by market capitalization is trading at $3,520 on Bitstamp, representing a 36 percent drop from Monday’s opening price of $5,553. Unless the bulls can pull
Parents often open savings accounts for their children. Few think of starting a retirement account for a 10-year-old. The idea isn’t so farfetched. Any parent, grandparent, aunt, uncle or family friend can open a Roth individual retirement account to help a child invest for the future. Think money from tutoring, babysitting, mowing lawns or even
When you get married, the tax system can be either friend or foe. Many couples see their tax burden go down when they tie the knot. Yet some end up paying more than if they had remained unmarried and filed as single taxpayers. “It’s more typical for people to have a marriage bonus, but there
It’s an offer hard to refuse: a reprieve from your student loan bill. Yet when your payments resume, they’re often higher because your debt has swelled, thanks to interest. The Associated Press, citing a 2017 Department of Education audit, reported this week that Navient, one of the country’s largest student loan servicing companies, steered tens
Oil prices have “dropped like a rock” over the past seven weeks but are finally approaching a bottom, Wells Fargo strategist Scott Wren told CNBC on Friday. “It’s caught the falling knife,” the senior global equity strategist at Wells Fargo Investment Institute said in a “Squawk on the Street” interview. However, “from our perspective oil,
There is a good chance stocks stall out next year as credit conditions tighten and earnings growth slows, according to Bank of America Merrill Lynch. “We believe the peak in equities is likely before the end of 2019,” wrote Savita Subramanian, equity and quantitative strategist at Bank of America Merrill Lynch, in a note this
Check out the companies making headlines before the bell: Facebook – The head of George Soros’s philanthropic foundation called for oversight of Facebook by lawmakers, following revelations that it had hired an opposition research firm to scrutinize the billionaire investor. Patrick Gaspard made his feelings known in a tweet, in which he accused Facebook of
Whether you’d like to give away several thousand bushels of soybeans or a prehistoric fossil, there just might be a charity that’s willing to receive it. Year-end tends to be a busy time for individuals who are in a giving mood. Donors seeking a break on their 2018 taxes must make their charitable contributions before
Panorama night futuristic city. The neon lighting.3D render. Technological background. Skyscrapers in the night. CityscapeGetty A few days ago, Autodesk announced the purchase of construction tech startup PlanGrid for $875 million, the biggest exit to date in the Construction Tech space. Historically, ConTech (as it is commonly referred to) has had much less attention than
Few projects have done as much to explore crypto micropayments as the year-old Yalls blog created by Lightning Labs developer Alex Bosworth. From April through early November, Bosworth said, blog participants have processed nearly 20,000 invoices with the Lightning Network, a bitcoin scaling solution that makes micropayments feasible by keeping them off the blockchain, sidestepping
The price of bitcoin fell below $4,000 for the first time today since September 27th of last year. At around 16:20 UTC Saturday, the world’s largest cryptocurrency by market capitalization sank to an average price across exchanges of $3,970.43, a figure 7.5 percent lower than the day’s opening price of $4,298.83, according to Coindesk’s Bitcoin
The coming week could be an important turning point for two big fear factors for markets — trade wars and rising interest rates. The big event of the week, and one that could impact markets and the economy for months to come, is the meeting between President Donald Trump and China President Xi Jinping on
Talk of the crypto-town is Bitcoin’s massive fall from grace. It seemed to be holding steady at around $6,300/$6,400 for most of October, but now it’s holding on for dear life. Mid-November saw the coin drop unprecedentedly. It began crashing and continues to today. At the time of writing, Bitcoin is priced at $4,2oo per
Social Security is one of the most important factors in older people’s financial lives. Yet the available information on the system is often contradictory or incorrect. Even the Social Security Administration, the government agency that administers the benefit, can mislead people, experts say. “Half of the answers Social Security is giving people are wrong or
The blockchain subsidiary of the Gibraltar Stock Exchange now has official approval from the island’s financial regulator. The Gibraltar Blockchain Exchange (GBX) announced Thursday that the Gibraltar Financial Services Commission (GFSC) has granted it a license under the jurisdiction’s new regulatory framework for distributed ledger technology (DLT), claiming to be the first stock exchange to
Share to facebook Share to twitter Share to linkedin The 19 Best Places to Travel in 2019 BELMOND CAP JULUCA What’s on your travel wish list for 2019? Veteran travel editor Laura Begley Bloom asked some of the world’s top vacation experts to find out where they want to go next. From a colorful beach town
Back in 2017, Bitcoin (BTC) and cryptocurrency took the spotlight in the media as investors and Wall Street began to take notice of digital currencies and the blockchain. Many executives in the major global banks shot down digital currencies almost immediately, as Bitcoin was a direct threat to their existence. See, Bitcoin was created to
Bitcoin’s defense of key long-term support for the second time in four days is a positive sign for a potential recovery rally. The leading cryptocurrency by market value fell below $4,242 (low of Wednesday’s inside-day candle) in the Asian trading hours, putting the bears back into the driver’s seat. As a result, BTC fell below
Big-box retailers such as Target and Walmart are capitalizing on the demise of Toys R Us this holiday season, and it’s paying off, according to industry leaders. The well-known toy retailer, which shuttered its U.S. stores in June, accounted for 15 to 20 percent of the country’s total toy sales in 2017, based on estimates
As “Small Business Saturday” becomes a worldwide phenomenon, lenders are becoming aware of the investment opportunities on Main Street, former Small Business Administration chief Karen Mills told CNBC on Friday. Online technology companies including Amazon, PayPal and Square are now issuing near-instant loans to small businesses so they can bulk up their inventory ahead of
As volatility rocks the market, one group of stocks is sizzling — fast food. Stocks like Starbucks, Jack in the Box, Chipotle and McDonald’s are outperforming in the past month. Of that selection, Chipotle shares look best positioned, according to Craig Johnson, chief market technician at Piper Jaffray. The firm’s analyst covering Chipotle, Nicole Miller
Things look pretty good. The economy is strong, and unemployment is low. Yet in some locales, people are finding it tougher to afford the basics, according to GOBankingRates. The personal finance site surveyed 5,000 people online in August and found that the cost of living in the U.S. has shot up by 14 percent in
“It’s hard to find fault with the climate in the Algarve,” said Tricia Pimental, Portugal correspondent for International Living. “You can count on sun most of the time.” During the “rainy season” of October through April, it’s still sunny around two-thirds of the time. “December is the wettest month, during which you can expect about
Shoppers, beware: Scammers want in on your holiday spending budget. Consumers are expected to spend about 4.3 percent to 4.8 percent more this holiday season than last year, up to $720.89 billion total, according to the National Retail Federation. That’s an attractive target for thieves. “People need to be more aware this time of year,”
Juiced by tax cuts this year, the economy’s performance peaked out in the second quarter and is expected to increasingly lose steam in 2019, with growth slowing to a crawl and a recession looming. That is one big reason the stock market has spiraled lower, as buyers rushed into Treasurys and yields on corporate debt
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