It's been 54 trading days since the S&P's last highStocks last hit an all-time high on Jan. 26, which is nearly three months ago. Since then, the S&P 500 Index (SPX) ultimately closed a bit more than 10% off that high before bouncing up into no-man's land between the all-time high and the recent lows. The uptrend from the SPX has been so steady over the last several years, I figured this was one o...Read More
UnitedHealth led the Dow leader-board after earningsA round of upbeat corporate earnings sent the Dow more than 200 points higher by the close, while a well-received report for Netflix (NFLX) helped the S&P and Nasdaq to their highest closes in nearly a month. Encouraging data on March industrial production and housing starts also contributed to the "risk on" attitude. On the other hand, the VIX -...Read More
(Reuters) - An activist hedge fund that wants Facebook to set up a risk oversight committee asked fellow shareholders on Tuesday to back the proposal, highlighting investor concerns over the company’s handling of controversies such as the recent data privacy row.Trillium Asset Management, which owns about 73,000 shares of Facebook Inc (FB.O), said existing risk oversight structures at Facebo...Read More
NEW YORK (Reuters) - Oil prices rose on Tuesday, as support from the possibility of supply disruptions and a strong equities market offset the effects of profit-taking following last week’s rally above three-year highs.Brent crude oil futures LCOc1 gained 16 cents to settle at $71.58 a barrel, while U.S. crude futures CLc1 rose 30 cents to settle at $66.52.“It seems as though the volat...Read More
Looking at the 50-day moving average, gold is currently in an uptrend and has been trading between $1,365 and $1,302 per ounce since January. Mike Matousek, head trader at U.S. Global Investors, explains gold's current trajectory and how investors might play the positive trend.For Mike's full explanation, watch the video below!For the latest updates on the gold market, subscribe to the weekly Inve...Read More
KINSHASA (Reuters) - Democratic Republic of Congo plans to set up a special fund to manage all aid donations under a new draft law, its cabinet said on Tuesday, a week after it failed to show up at an international donors conference.The United Nations is seeking $2.2 billion to support about 13 million people in Congo this year caught up in a litany of humanitarian crises caused by ethnic and mili...Read More
NEW YORK (Reuters) - U.S. and European shares climbed on Tuesday on corporate results and a renewed appetite for risk, while the dollar climbed off a two-week low and 2-year Treasury yields touched a decade high after economic data supported expectations of further rate hikes by the Federal Reserve.Robust earnings from Netflix, Goldman Sachs and healthcare companies drove gains on Wall Street and...Read More
CHICAGO, April 17 (Reuters) - Chicago Federal Reserve Bank President Charles Evans said on Tuesday that it could take a year before U.S. inflation gets to 2 percent sustainably, and that if overshoots slightly, he would not be too worried.“Is it going to go to 2.3 (percent)? I don’t see that, that would be an awful a lot of momentum” and would call for a reassessment of his asses...Read More
RIYADH (Reuters) - Saudi Arabia would be prepared to send troops into Syria as part of the U.S.-led coalition if a decision was taken to widen it, Foreign Minister Adel al-Jubeir said on Tuesday.“We are in discussion with the U.S. and have been since the beginning of the Syrian crisis about sending forces into Syria,” Jubeir told a news conference in Riyadh with U.N. Secretary-General...Read More
However, CNET shares may have hit technical resistanceThe U.S. stock market is pacing toward a big win, as Wall Street reacts to the latest batch of corporate earnings reports. Among individual names making big moves are blue-chip software stock Intel Corporation (NASDAQ:INTC), Chinese internet ad specialist ChinaNet Online Holdings, Inc. (NASDAQ:CNET), and U.K.-based biotech GW Pharmaceuticals Pl...Read More
SAN FRANCISCO (Reuters) - Shares of Twitter Inc (TWTR.N) surged nearly 11 percent on Tuesday and were on track for their best session in two months after Morgan Stanley upgraded its recommendation on the social network to “equal-weight” from “underweight”.Investors are likely to continue to pay a premium for Twitter’s stock due to expectations of faster revenue growth...Read More
Bernstein: 'We remain skeptical' on Model 3 marginsTesla Inc (NASDAQ:TSLA) stock is bucking the broad-market trend higher today, down 0.8% to trade at $289. While sector peers such as General Motors (GM) enjoy an automaker bump related to encouraging events in China, last night the electric car company temporarily halted its Model 3 production in Fremont, California. Bernstein chimed in on the be...Read More
Michael Martina, Robin EmmottBEIJING/BRUSSELS (Reuters) - China’s international trade representative held a series of meetings with the ambassadors from major European nations last week to ask them to stand together with Beijing against U.S. protectionism, according to four sources familiar with the discussions.Some of the western diplomats involved in the meetings with Fu Ziying, who is als...Read More
(Reuters) - New York Attorney General Eric Schneiderman on Tuesday sought information from 13 cryptocurrency trading platforms, including Coinbase Inc and Gemini Trust, about their operations such as fee structures and safety measures to protect customer accounts.“With cryptocurrency on the rise, consumers in New York and across the country have a right to transparency and accountability whe...Read More
WASHINGTON (Reuters) - Federal Reserve Governor Lael Brainard on Tuesday said she supports updating banking regulations to help credit flow to low-income areas.The comments by Brainard - the only members of the Fed’s Board of Governors nominated by former U.S. President Barack Obama - come after the Trump administration proposed on April 3 that regulators relax penalties for banks that fail...Read More
Tom PolansekCHICAGO (Reuters) - The Federal Reserve can stick to a series of gradual U.S. interest-rate increases over the next couple of years without much risk of an unhealthy surge in inflation, Chicago Fed President Charles Evans said on Tuesday.“I don’t foresee an outsized risk of a breakout in inflation,” Evans said in remarks prepared for delivery to the Chicago Rotary Clu...Read More
(Reuters) - U.S. President Donald Trump’s latest complaint about China devaluing its currency is off base. But the yuan could potentially become a major sticking point in efforts to resolve the trade dispute between the world’s two biggest economies.Currency valuations have long played a role in global trade spats because the goods of countries with weak currencies have a price advanta...Read More
Reade Levinson(Reuters) - Small businesses in the United States struggled with uninsured damages and lost revenue following a record-breaking year of hurricanes and wildfires, according to a Federal Reserve survey published on Tuesday.The report by the Dallas, New York, Richmond, and San Francisco Fed banks examined 1,800 businesses with fewer than 500 employees in zip codes with disasters designa...Read More
WASHINGTON (Reuters) - Three out of 12 regional Federal Reserve banks opposed increasing the rate commercial banks pay for emergency loans ahead of the central bank’s latest policy meeting, minutes of Fed discount rate discussions showed on Tuesday.The U.S. central bank raised the discount rate by a quarter percentage point to 2-1/4 percent and also increased its benchmark lending rate at it...Read More
Both stocks have surged in 2018, despite rising short interestRetailer stocks Dick's Sporting Goods Inc (NYSE:DKS) and Five Below Inc (NASDAQ:FIVE) recently popped up on our short list of stocks soaring in spite of rising short interest. In fact, both stocks are defying skeptics all across Wall Street -- and DKS and FIVE sport relatively inexpensive short-term options, to boot.DKS Stock Defying Op...Read More