Posts by Lauren Lyster
- Lauren Lyster at Daily Ticker8 hrs ago
Gilead Sciences (GILD) reported earnings after the bell Tuesday and blew through estimates, driven by $2.27 billion in sales for its new $1,000 a day hepatitis C treatment Sovaldi, which is believed to be the best-selling prescription drug launch in history, according to the Wall Street Journal.
- Lauren Lyster at Daily Ticker2 days ago
French economist Thomas Piketty has been making many headlines in the U.S. with his message that income inequality is not going away and will probably get worse.
Nobel Prize winner Robert Shiller says the U.S. should take action now to protect against this future scenario by indexing income taxes to inequality. He outlined his proposal this month in The New York Times.
"Some measure of inequality is necessary in any functioning capitalist economy," he says in the video above. "The risk is that it will get much worse in the future."
- Lauren Lyster at Daily Ticker5 days ago
> The markets head into the week after taking a breather from the selloff. After hitting a two-month low, last week the Dow (^DJI) rose 2.4% posting the biggest weekly gain since December. Meanwhile, the S&P 500 rose 2.7% (^GSPC) posting the best weekly gain since July. And embattled sectorsof the market including biotech and Internet stocks climbed more than 3%.
- Lauren Lyster at Daily Ticker6 days ago
Fed Chair Janet Yellen in a speech Wednesday before the Economic Club of New York reiterated some of the dovish points we've heard before. She stressed the need for accommodative policy amid slack in the labor market and persistently low inflation. She also said the economic recovery could be nearly complete within two years.
Cardiff Garcia, U.S. Editor of FT Alphaville, tells us in the accompanying video that Yellen's speech was also interesting for what it did not address.
- Lauren Lyster at Daily Ticker13 days ago
U.S. Treasury Secretary Jack Lew's interview this week about lobbying Chinese leaders to reverse course on devaluing Chinese currency serves as a reminder that currency squabbles between countries continue.
Lew, for his part, wants China to keep moving further towards the direction of a market-based exchange rate. "If they want the renminbi to be a world currency some day, if they want it to be a reserve currency some day, they need to demonstrate that," Lewtold CNBC Wednesday.
"From our perspective, it is something that is very important in preserving a level playing field for trade in the world."
The China-U.S. currency dynamic is just one issue James Rickards, author of the bestselling book Currency Wars, revisits and pushes forward in his new book, "Death of Money: The Coming Collapse of the International Monetary System".
- Lauren Lyster at Daily Ticker15 days ago
Russia is warning Ukraine that using force against pro-Kremlin separatists who have taken control over government buildings in three Ukraine cities could push the country into civil war, reports The Wall Street Journal. The warning came Tuesday from Russia's foreign ministry after Ukrainian officials accused Russia of instigating the protests and vowing to subdue them.
Supporters of former Ukraine President Victor Yanukovich launched new protests on Sunday. Crowds of several hundred people seized government buildings in east Ukraine.
- Lauren Lyster at Daily Ticker15 days ago
High profile U.S. tech stocks have led a selloff that has seen global markets plagued by a loss of momentum over the last three days. Monday, the Nasdaq composite fell close to 1.2% marking its biggest three-day drop since November 2011 -- it's down 5.9% for the last 30 days. And the Dow and S&P 500 posted their worst three-day losing streaks since Jan. 27, 2014.
So are we seeing what could be a 5% to 10% correction for the market, or could this be the beginning of a bear market?
- Lauren Lyster at Daily Ticker21 days ago
Five trillion dollars in cuts?! Not anytime soon.
Those cuts (over ten years) are proposed in the 2015 House GOP budget that Rep. Paul Ryan (House Budget Committee Chairman) released Tuesday. But it shouldn't be looked at as more than a "campaign document, something that the Republicans are going to take into the Fall elections and the Democrats are going to try to use against them," says CQ Roll Call reporter Steven Dennis in the video above. It has virtually no chance of becoming law as long as President Obama is in office.
That said, there are three proposals in the budget worth keeping your eye on, according to Dennis, as you are likely to continue hearing about them.
1. Medicare changes
- Lauren Lyster at Daily Ticker22 days ago
Japan raised its consumption tax from 5% to 8% Tuesday in a move that could spell trouble for the world’s third largest economy, which has been trying to revive itself after 20 years battling deflation, stagnation and serial recession.
- Lauren Lyster at Daily Ticker23 days ago
To answer the question of where the most successful Americans come from, New York Times columnist and Harvard economics Ph.D. recipient Seth Stephens-Davidowitz turned to Wikipedia.
What he found are "huge differences throughout the United States in the probability of making it to Wikipedia," he tells us in the accompanying video. "If you're born in one of the most successful places such as Boston or Ann Arbor, MI, you're 20 times more likely to make it to Wikipedia than if you're born in one of the least successful places, such as Allegan, MI or Harding, KY."