1: Tax party: Get ready for the new tax law to create a $450 billion boom — of stock buybacks. Corporate America is sitting on a mountain of money overseas, built during years of hoarding foreign profits to avoid paying U.S. taxes on them. The new law gives companies a tax break — paying between […]
Asian markets were mixed on Monday as investors awaited upcoming earnings releases U.S. indexes closed higher on Friday even though December nonfarm payrolls came in below expectations The dollar remained on the back foot against a basket of currencies Oil prices retraced some losses after slipping on the back of higher U.S. production Asian shares […]
President Donald Trump again Thursday bragged about stock market performance as the Dow broke above 25,000. The index is up about 26 percent over the past year and nearly 40 percent since Trump’s November 2016 election. Some economists think the president should be focusing more on broader economic progress than the fickle stock market. As […]
Investment legend John “Jack” Bogle is worried about President Trump’s policies and the massive surge in the stock market. “I don’t feel super confident in the stock market. By any historical standards, it’s pretty fully valued,” the 87-year-old founder of Vanguard told CNNMoney in a phone call. Bogle isn’t calling it a bubble yet, […]
Ethereum is currently the third-largest cryptocurrency by market value, after being dethroned by another altcoin, Ripple’s XRP, last week. The Ethereum Foundation is launching two new subsidy programs to boost research into the scalability and development of the distributed ledger. Alternative cryptocurrency ethereum broke a fresh record high Thursday. The digital currency broke the $1,000 […]
Snap closed down 5 percent after Cowen downgraded shares, saying 96 percent of ad buyers would prefer to advertise on Facebook’s Instagram. Cowen analyst John Blackledge’s $11 price target represents 28 percent downside over the next 12 months. Adding to concerns, Instagram is expected to be the biggest share gainer among any social network per […]
“By utilizing decentralized computing and opensource software, we see a multi-trillion dollar market emerging,” RBC Capital Markets analyst Mitch Steves says in a Wednesday report. He tells CNBC in a phone interview that his $10 trillion estimate comes from taking a third of the roughly $30 trillion in assets held in offshore funds and gold. […]
Snap Inc. (SNAP) took Wall Street on a roller coaster ride in 2017. It’s easy to forget that the social media company started off the year as the darling of Silicon Valley and in March held the biggest IPO since Alibaba Group Holding Ltd. (BABA – Get Report) , raising an impressive $3.4 billion. Snap’s […]
It’s been a record-breaking year for the markets as the major indexes track for their best annual performances since 2013. With the Dow sitting just a hair below yet another major milestone — 25,000 — Rich Ross of Evercore ISI says there are three names that could propel the index to new heights. Oldies but […]
Retail Food Group (RFG.AU) has denied media reports it is running its franchisees into the ground with a brutal business model. A Fairfax Media investigation alleges that RFG, Australia’s biggest food franchise operator, is charging crippling franchise fees and other costs in its search for fatter profits, driving some operators into bankruptcy and has led to systemic staff underpayment. […]
Sometimes a stock will break out, but then not make much progress. Within a few hours, days or weeks, it dips just below the buy point, which remains valid. Netflix (NFLX), Citigroup (C), Verizon Communications (VZ), Delta Air Lines (DAL) and MGM Resorts International (MGM) are all just below buy points after pulling back from breakouts. Netflix cleared a 195.05 cup-with-handle buy point on Oct. 5. Shares […]
It launched on the CBOE Futures Exchange in Chicago at 23:00 GMT Sunday, allowing investors to bet on whether Bitcoin prices will rise or fall. In the lead-up to its futures debut, the value of the digital currency has surged. Bitcoin’s introduction to the CBOE has been seen by some as a step towards legitimising […]
