Could this be 9 times more valuable than Google, Facebook, and Amazon combined?It's a gadget you could conceal in the palm of your hand. A gadget that could easily pass through airport security. A gadget that could be mass produced quickly.And a gadget that holds the technology set to blow the lid off a breakthrough $15 trillion tech revolution...Of course, this gadget could stand to make a lot of...Read More
Oct 11 (Reuters) - Blackstone Group is nearing a deal to buy British live events complex NEC Group, and has agreed to pay just over 800 million pounds ($1.06 billion) for the business, Sky News reported on Thursday.Blackstone could strike a deal for the Birmingham-based complex as soon as Friday, Sky News reported.Blackstone and NEC Group did not immediately respond to requests for comment.$1 = 0....Read More
President Donald Trump continued to attack the Federal Reserve on Thursday, criticizing Chairman Jerome Powell as being too stringent with monetary policy.He blamed the Fed for causing a massive drop in stocks this week.Despite the criticism, Trump says he will not fire Powell.Michael Sheetz | Thomas Franck Published 9 Hours AgoUpdated6 Hours AgoCNBC.com show chapters President Trump continues...Read More
American Express, Johnson & Johnson, and P&G will also report The Fed's September meeting minutes will be released next week, with Wall Street expected to search for clues to the pace of future rate hikes. Traders will also digest monthly retail sales and housing data. Meanwhile, earnings season kicks into gear, with several big names reporting, including Dow members American Express Company (NYSE...Read More
LONDON/BRUSSELS (Reuters) - British and EU negotiators making headway on the Irish border hope for a Brexit deal breakthrough on Monday, diplomats said, though the British prime minister’s Northern Ireland ally has stoked uncertainty by warning it could vote against her.Under pressure from all sides, Theresa May told journalists at Downing Street reception that talks on the key issue of the...Read More
NEW YORK (Reuters) - Wall Street indexes continued their decline on Thursday as investors continued to shun risky investments, and Nasdaq looked like it could confirm a correction.By late afternoon the S&P was down another 2 percent after shedding 3 percent in the previous day's session and Nasdaq fell as much as 10.3 percent from its closing record high, reached on Aug. 29. If it closes at th...Read More
One company could be positioning itself to take over the cloud market.Both cloud computing and blockchain technology has changed the way modern society operates.Today the global public cloud market is nearing a colossal $200 billion and is growing at a 22% annual rate.Did you ever think in 2006 that Amazon Web Services would be the beast that it is today? The cloud computing division of Amazon is...Read More
(Reuters) - Major U.S. banks, beginning on Friday, are expected to report earnings growth that exceeds that of the broader market, but that may not be enough to impress investors, who have been unimpressed by loan growth and are anticipating higher deposit rates and credit costs.Investors skepticism has been significant in 2018. The S&P 500 Banks Index .SPXBK has fallen 3.7 percent year to dat...Read More
WASHINGTON (Reuters) - The head of the U.S. Securities and Exchange Commission said on Thursday the agency was in no rush to change quarterly reporting requirements for large public companies, two months after President Donald Trump ordered his agency to study the matter.“I don’t think quarterly reporting is going to change for our top names anytime soon,” said Chairman Jay Clayt...Read More
Gold prices surged Thursday to the highest in more than two months, with the metal's haven status in full force and attracting investment interest amid a sharp retreat for U.S. stocks that has infected foreign indexes. Gold gained as global stock markets suffered from broad declines Thursday. Major U.S. stock indexes headed lower Thursday, as well, failing to recover from Wednesday's plunge. The d...Read More
Traders shouldn't sweat the downturn, if history is any indicatorStocks on Wednesday suffered their worst day in months -- or years, in the case of the tech-rich Nasdaq Composite. The S&P 500 Index (SPX) endured its steepest one-day percentage loss since February, giving up 3.3%. Meanwhile, the S&P 500 ETF Trust (SPY) 14-day Relative Strength Index (RSI) fell below 25 -- into oversold territory. H...Read More
OTTAWA (Reuters) - Canada does not hold out much hope that Washington will quickly lift tariffs that it imposed on steel and aluminum exports and is resisting a U.S. push to agree to strict quotas, two sources familiar with the matter said.The administration of U.S. President Donald Trump imposed the tariffs on Canada and Mexico in June, citing national security reasons. Although Canada and Mexico...Read More
The options market is pricing in a bigger-than-usual post-earnings swing for JPMThird-quarter earnings season is about to get underway, with big-cap bank JPMorgan Chase & Co. (NYSE:JPM) set to take its turn in the spotlight ahead of the open tomorrow, Oct. 12. The financial stock has been relatively quiet over the last two months, per its 60-day historical volatility of 15% -- in the low 15th perc...Read More
ATHENS (Reuters) - Greece still seeks reparations for its victims of World War Two and repayment for a loan it was forced to make to its Nazi occupiers, President Prokopis Pavlopoulos told his visiting German counterpart on Thursday.Pavlopoulos, who met Frank-Walter Steinmeier in Athens, said that such demands fell under the framework of “resistance against those who want to return to a nigh...Read More
WASHINGTON (Reuters) - A stock sell-off, rising trade tension with China, slower global growth and verbal pressure from the White House are unlikely to dent the U.S. Federal Reserve’s rate hike plans in an economy performing in line with the central bank’s forecasts.A bumpy 48 hours included an 800 point drop in the Dow Jones Industrial Average and hefty declines in other stock indexes...Read More
Activision Blizzard's pullback yesterday could have bullish implicationsYesterday, Activision Blizzard, Inc. (NASDAQ:ATVI) moved 5.2% lower with the broad market sell-off, extending a recent pullback from the past week. The good news is that this dip could have bullish implications in the next month, if history is any guide. ATVI is now within one standard deviation of its 200-day moving average...Read More
NEW YORK (Reuters) - Oil prices slumped to more than two-week lows on Thursday as global stock markets fell, with investor sentiment made more bearish by a bigger-than-expected U.S. crude inventories build.Brent crude LCOc1 futures fell $2.10, or 2.5 percent, to $80.99 a barrel, by 12:55 p.m. EDT (1655 GMT), after hitting a low of $80.69, its weakest since Sept. 24. The global benchmark has retrea...Read More
MUMBAI, Oct 11 (Reuters) - India said on Thursday it is raising import tariffs on several electronic items and communication devices, in a bid to rein in imports and contain the slide in the rupee.This is the second time in two weeks that the government has moved to raise import tariffs, as it aims to curtail the import of goods that it deems as “non-essential” items.It was not immedia...Read More
Jefferies remains bullish on BOOT stockStocks are trading sharply lower once again, despite this morning's inflation update. However, three names trading higher are retailer Boot Barn Holdings Inc (NYSE:BOOT), social media concern Snap Inc (NYSE:SNAP), and immune system specialist Evelo Biosciences Inc (NASDAQ:EVLO). Here's what's lifting shares of BOOT, SNAP, and EVLO. Jefferies Chimes in on Boot...Read More
(Kitco News) - Gold bullstoday got a quadruple dose of bullish fuel that boosted prices to nine-weekhighs and above the recent sideways trading range. Today’s surprising gains ingold set the table for sideways-to-higher price action at least into the end ofthe year. December gold futures were last up $32.70 an ounce at $1,226.20.December Comex silver was last up $0.269 at $14.60 an ounce. H...Read More