Now that President Donald Trump has threatened to dramatically ramp up the tariff pressure on China, traders are being forced to confront an unpleasant reality: The main reason for the stock market rally — the stupendous rise in corporate earnings due to the global economic expansion and tax cuts — is now under threat. “Earnings
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The Trump administration’s history with trade has been volatile for stocks, usually sending them lower at first, but investors who have bought equities on those dips have been rewarded. The Dow Jones industrial average, S&P 500 and Nasdaq composite this year dropped on average at least 0.4 percent immediately after an announcement on trade policy
Tron (TRX) is reporting double-digit gains on Tuesday and is the biggest gainer among top 100 cryptocurrencies. The cryptocurrency seemingly picked up a bid after reports started doing the rounds that Tron Foundation founder Justin Sun acquired BitTorrent – the owner of popular file-sharing client uTorrent – for $140 million. Rumors of the acquisition have
Wall Street. Photographer: Michael Nagle/Bloomberg. SoftBank continues to make waves by underwriting the valuations of a growing number of turbocharged “unicorns” carrying private values north of $10 billion. It recently bought 15% of Uber at a $48 billion valuation. In partnership with GM, it paid $2.25 billion for a 19.6% stake in Cruise Automation. Masayoshi Son’s conglomerate
As the Dow comes under pressure again, one technician is taking the opportunity to break open the index for the names to buy on weakness. Ari Wald, head of technical analysis at Oppenheimer, subscribes to one guiding philosophy to identify those picks. “Our general rule to investing is only buy stocks above a rising 200-day
Investors should sell Snap shares because a survey shows time spent per user on its app is declining, according to one Wall Street firm. Cowen reiterated its underperform rating on Snap shares, predicting the social media company will report sales below expectations. “We trimmed our 2Q18, FY18-FY23 estimates, lowering our revenue / EBITDA forecast on
Despite tumbling sales, mounting debts and looming maturities, Sears Holdings is still testing new initiatives to see if something sparks a turnaround. The latest one brings its Sears and Kmart brands together under one roof. A pint-sized Kmart convenience shop was opened inside a larger Sears store in New York’s Brooklyn borough this weekend. The
Shutterstock To become a “Dividend Aristocrat,” a dividend paying company must accomplish an incredible feat: consistently increase shareholder dividends every year for at least 20 consecutive years. Companies with this kind of track record tend to attract a lot of investor attention — and furthermore, “tracking” funds that follow the Dividend Aristocrats Index must own
Shares of Sarepta Therapeutics soared more than 50 percent Tuesday after the company presented preliminary data for its experimental treatment for patients with Duchenne muscular dystrophy. The rare genetic disease causes muscle wasting and can be fatal before patients turn 30. Symptoms usually start in early childhood, usually between 3- and 5-years old. It primarily
Verizon was the only member of the Dow Jones Industrial Average trading significantly into the green on Tuesday. The gains came after Deutsche Bank upgraded the wireless provider, saying the shares were relatively cheap. The stock gained 1.9 percent Tuesday, also boosted by investors betting that its domestic revenues will be shielded from fears of
When Dutch payments processing firm Adyen went public on June 13, the stock jumped 100 percent above the initial share price, giving the company a valuation of 14.8 billion euros ($17 billion). Adyen’s spectacular entry into the elite ranks of unicorns — companies valued at more than $1 billion — was all the more noticeable
Soybean futures plunged Tuesday to their lowest in more than nine years following renewed concerns about a U.S.-China trade war. A war of words between the two countries picked up overnight, following announcements of tit-for-tat tariffs on $34 billion worth of imports late last week. In retaliation against planned U.S. duties, Beijing intends to impose
CNBC’s Jim Cramer said Tuesday that he’s not worried yet about the escalating trade conflict between the United States and China. “Right now, this is not serious,” Cramer told “Squawk on the Street.” “I’m waiting for something serious to hit my way.” The “Mad Money” host said the fight would get real if Apple, Yum
Global stock markets fell sharply on Tuesday after President Donald Trump threatened to impose an additional trade tariff on $200 billion worth of Chinese goods. Following that bombshell, Chinese stock markets closed sharply lower. The volatile Shenzhen fell almost 6 percent, while the Shanghai Composite neared a two-year low. European stocks followed suit and by
The Lighthouse New life for a Connecticut mansion: a recovery center for Wall Street executives. In the woods of New Canaan, Connecticut, a one-hour drive from the skyscraper canyons of Manhattan, an elegant mansion has found new life as a “halfway house” for Wall Street executives recovering from alcoholism and drug addiction. Although, when it’s
Are you a student and think investing is something that only people with full-time jobs can do? Well, think again. “If you have enough cash to leave a 10-buck tip after you’ve had food out, you have enough money to start investing,” said Emmet Savage, CEO of Rubicoin. “There’s this misconception that you need thousands
Shutterstock The stock market has just started recovering from its early-February lows—and there are 3 ridiculously cheap funds set to jump even higher while paying massive dividends. Before I show them to you, let’s talk a bit about why the market is set to go higher. Right now, the SPDR S&P 500 ETF is up
By revenue, chipmakers face the greatest risks in escalating trade tensions with Beijing. Among U.S. industries, semiconductor and semiconductor equipment companies have the highest revenue exposure to China at 52 percent, Morgan Stanley equity strategists said in a June 12 report. Chipmaker Qualcomm has 65 percent revenue exposure to China, and optical components manufacturer Lumentum
U.S. homebuilding surged to near an 11-year high in May amid an acceleration in both single-family and multi-family home construction, but a second straight monthly drop in permits suggested housing market activity will remain moderate. Housing starts jumped 5.0 percent to a seasonally adjusted annual rate of 1.350 million units last month, the Commerce Department
Check out the companies making headlines before the bell: Verizon – The telecom giant’s stock was upgraded to “buy” from “hold” at Deutsche Bank, which said fundamentals are improving but the stock price hasn’t yet caught up. Deutsche Bank points to potential from 5G technology and an improving wireless business, among other factors. Tesla –
Shutterstock Amid all the hoopla about AT&T’s getting a court’s go-ahead to swallow Time Warner, let’s not forget that the telecom giant faces a threat that isn’t going away: cord cutting. Maybe the addition of Time Warner’s celebrated content will help the onetime Ma Bell stem that tide, but people will continue to find ways
Despite the bearish chart setup, bitcoin (BTC) rose to a six-day high on Monday, putting a corrective rally to $7,000 back on the map. The leading cryptocurrency unexpectedly picked up a bid around $6,450 at 16:00 UTC yesterday and rose to $6,850 – the highest level since June 12, according to Bitfinex data. The $400
As cryptocurrency grew in popularity, so did the exchanges. With over 500 to choose from (and that number is growing weekly!) its a far cry from the earlier days of digital currency when your choices in exchanges were limited to around 8! With that knowledge, we have compiled a list of some of the most
Crypto World Cup day 5: Where Satoshi Nakamoto takes on Tom Lee, and Justin Sun faces off with Jed McCaleb. Today’s matches kicked off with Willy Woo taking on Anthony Pompliano but everyone’s eyes were on the Justin Sun vs. Jed McCaleb and Satoshi Nakamoto vs. Tom Lee Games. If you don’t know them all
Check out the companies making headlines after the bell: Tellurian dropped more than 5 percent in extended hours training. The natural gas company announced on Monday a public offering of 12 million common stock. The company said in its prospectus that it “intends to use the net proceeds from this offering for general corporate purposes,
OPEC is expected to agree to open its spigots at what could be a contentious meeting, and the very process of adding more supply to the global oil market could create fresh volatility around oil prices. The Organization of Petroleum Exporting Countries meets this week in Vienna and holds a formal meeting Friday. OPEC members
Cardano (ADA) – eToro, the world’s leading social trading broker that now offers cryptocurrency trading, is now offering Cardano (ADA) on its platform. New #Cryptocurrency alert on eToro! Cardano $ADA is now available for trading on our platform.#cryptos — eToro (@eToro) June 17, 2018 eToro is not yet available in the United States. The social
Much has been made about how autonomous vehicles will impact parking. To allow for alternative uses once autonomous vehicles become more pervasive, new commercial parking facilities are now frequently being designed and constructed with flexibility in mind. Developers are even going so far as to explore ways to repurpose existing parking garages. Far less has
By Simone Baribeau Puerto Rico’s federal oversight board may be overseeing the commonwealth’s finances, but it is doing everything it can to ensure that financial information about the commonwealth remains out of everyone else’s sight. Examples of the attempts of the Financial Oversight and Management Board (FOMB), as the federally appointed board is known, to
The Malta Stock Exchange announced today that Binance, one of the world’s leading cryptocurrency exchanges, is backing its newly launched program to support fintech startups and entrepreneurs. Known as a tiny archipelago between Sicily and the North African coast, Malta, along with several other microstates including Bermuda, Liechtenstein, Gibraltar and San Marino, have joined the race