CNBC's Bob Pisani and Art Cashin, of UBS, discuss what's driving today's trading action, including the release of better-than-expected economic data and the yield on the 10-year Treasury.
Robert: Renting Lincoln Bedroom More than 800 people stayed overnight in the Lincoln bedroom of the White House during President Bill Clinton's tenure. At least $5.4 million in campaign contributions from many of those guests went into Clinton's re-election effort. Among the paying guests were movie producer Steven Spielberg, Dreamworks SKG head David Geffen and long-time Hollywood powerhouse Lew Wasserman. Two of the Lincoln Bedroom's renters -- Linda Thomason and actress Markie Post -- are pictured here trashing the bed by treating it like a trampoline. The mattress was eventually replaced through online provider.
Ahead of the first in-person clash between Republican presidential nominee Donald Trump and his Democratic rival Hillary Clinton, stocks around the world traded lower. “Investors are acting extremely nervous with regards to the debate … and it highlights the fact that the markets are not focusing on the health of the economy, interest rates and geopolitical events,” Robert Pavlik, chief market strategist at Boston Private Wealth, told Reuters Monday. In Asia, where many nations risk seeing the Trans Pacific Partnership with the United States disappear after the election, the Shanghai Composite Index in China was down 1.8 percent (China isn’t a signatory to the pact).
Baby boomers, born between 1946 and 1964, are heading into retirement in droves (about 10,000 a day, in fact). Along with the aging of this iconic cohort come lots of data about their poor preparation for their golden years. Insufficient preparedness and lack of financial resources for decades without steady employment paint a gloomy picture for many retirees. Are we facing a Baby Boomer retirement crisis? There may not be an easy answer, but read on for data that helps shed some light into this large generation's economic situation. (For related reading, see: How Baby Boomers Will Change the Way Others Retire.) Baby Boomer Retirement Research GoBankingRates recently published research conducted
Both of Jeep's midsize offerings, the Compass and Patriot, are getting hella old. They don't look like new Jeeps, and their features lack many modern creature comforts. Instead of flooding the market with two new offerings, Jeep is rolling out just one, and it's using the Compass name. The 2017 Jeep Compass will be an all-new affair, and it will be built in the company's newly established manufacturing facility in Goiana, Pernambuco, Brazil. It's a global SUV, so it'll be sold in more than just the United States. From the looks of it, its new visage absolutely falls in line with other new products, like Renegade or Cherokee. It's far curvier than before, ditching many of the hard angles present
Technically Incorrect offers a slightly twisted take on the tech that's taken over our lives. Dear famous person, If we want to be seen with you, we'll turn our backs on you. Please don't be offended. It's just that your fame isn't enough for us anymore. We need to attach ourselves to your fame, so that we can post the resulting picture to Twitter, Facebook and Snapchat. That way, we achieve our own sort of mini-fame. Which could be the maximal fame we ever attain. Please forgive me for this missive to the stars. There's a reason: This astounding picture was posted Sunday on Twitter by Hillary For America design lead Victor Ng. He credited the shot to Clinton campaign photographer Barbara Kinney.
Sept. 27 -- Hans Sicat, president and chief executive officer at Philippine Stock Exchange, discusses foreign outflows from the country, Philippine stocks and his outlook for the economy. He speaks to Bloomberg's Angie Lau and David Ingles on "Asia Edge."
Cortec Group is poised to make a killing on its investment in a cooler maker if it successfully goes public. The small private-equity firm could make about $3.3 billion on the initial public offering of Yeti Holdings Inc., which could happen as soon as October, according to a story by The Wall Street Journal's Matt Jarzemsky. Cortec invested about $67 million in Yeti back in 2012, which means it could make 50 times its money in four years, The Journal reported.
In a job interview, every little thing matters — from your ability to make eye contact to the color of your suit. So you'll want to pay extra close attention to what you do with your hands while you're sitting across from your interviewer. Below, we'
Jan Brown pores over his royalty statement and wonders where all the money went. A few months ago, the nation's second-largest natural gas producer siphoned $2,201 worth of gas from his 240-acre property — but paid him only $359 after taking deductions for transportation and processing. Brown, 59, who relies on the royalties as his sole source of income, says the deductions are outrageous and claims his lease forbids them.
A Delta flight from Detroit to Amsterdam had to be diverted to Manchester, England, for two hours Saturday into Sunday after smoke and an unknown smell developed in the passenger cabin. A Delta official and a senior U.S. official told ABC News that the emergency on Flight 138 was caused by a Samsung tablet. The Delta official explained that the tablet fell inside a seat and became jammed after the seat either reclined or was returned to its upright position. Underneath the seat cover, the tablet and foam then started smoking, and passengers could smell a strange odor. The flight was diverted to Manchester, where the seat was replaced. After two hours on the ground, the flight was airborne, en
The pharmaceutical company Mylan, which makes the EpiPen, is now saying it understated the profits it derives from the life-saving allergy drug by 60% in a congressional hearing last week, according to The Wall Street Journal. Mylan paid a 7.4% tax rate last year after moving its business to The Netherlands for tax purposes. The company's CEO, Heather Bresch, was called to the House of Representatives to answer for why her company had raised the EpiPen's price by 500% since it purchased the drug in 2007.
It's often best for investors to largely ignore the stream of upgrades and downgrades coming from analysts. The worst mistake an investor can make is acting on the opinion of others without doing research of his or her own. It can still be useful to see what analysts are saying, but things like price targets should be taken with a grain of salt. Recently, shares of networking-hardware giant Cisco Systems (NASDAQ:CSCO) received a price-target bump from Deutsche Bank. Citing new growth areas like cloud security, Deutsche raised its price target on Cisco stock to $37, up from a previous target of $35. This new price target implies that shares of Cisco could rise 20%. Is Cisco really worth $37 per
Philippine President Rodrigo Duterte said Monday he would seek closer economic ties with China and Russia, as the local currency and stock market extended declines following Western criticism of his deadly war on crime. The peso hit a seven-year low to the dollar on Monday and foreign investors pulled out from local shares for a 23rd straight day, which analysts said was due to growing uncertainty over Duterte's handling of what has been one of Asia's best-performing economies in recent years. "I will open trade alliances with Russia and China so all you other investors, just go.
Syria and its Russian allies pressed an assault on Aleppo in what the United Nations called the most intense bombing in years of warfare there, and residents said hundreds of civilians had been killed since a cease-fire fell apart last week. Photo: Getty Images.
Shares of Bank of America (NYSE:BAC) are off to a forgettable start this week, down more than 3% as the closing bell on Monday approaches. An SEC investigation found that Merrill Lynch caused market disruptions on at least 15 occasions from late 2012 to mid-2014 and violated the Market Access Rule because its internal controls in place to prevent erroneous trading orders were set at levels so high that it rendered them ineffective. For example, Merrill Lynch applied a limit of 5 million shares per order for one stock that only traded around 79,000 shares per day. Other trading strategies had limits set as high as 25 million shares, which Merrill Lynch reduced to 50,000 shares after the SEC's investigation began.
Federal Housing Administration loans and conventional loans remain the most popular financing types for today's mortgage borrowers. But which program makes the most financial sense for you? Here's how to decide. The Nuts & Bolts of FHA Loans FHA loans
Leading U.S. national wireless carrier T-Mobile US Inc. TMUS recently entered into an agreement with cable MSO (multi service operator) Charter Communications Inc. CHTR to acquire a license of 700 MHz A Block spectrum for Eastern Montana from the latter
The gaming industry has been through a lot of turmoil in the past two years, mainly in the world's largest gaming market of Macau. Gaming revenue in Macau has dropped by half and as new resorts from Melco Crown (NASDAQ:MPEL), Las Vegas Sands (NYSE:LVS), and Wynn Resorts (NASDAQ:WYNN) have been completed, they have spread the revenue that's left among a growing number of resorts. And with MGM Resorts (NYSE:MGM) completing a project next year, the supply problem isn't over yet. But declines in gaming doesn't mean casinos aren't spitting out cash quarter after quarter. In fact, there's some decent value in gaming stocks if you know where to look. Here's how the big four stack up right now. Where
As the September 26 to 28 “informal” meeting of OPEC producers in Algeria draws near, media speculation could easily cause mental anguish. On oil news websites simultaneous headlines claim OPEC will both fail and succeed in capping output. Called by OPEC August 8, the stated purpose of the gathering was, “OPEC continues to monitor developments closely, and is in constant deliberations with all member states on ways and means to help restore stability to the oil market”.
Shares of Oracle Corporation ORCL have witnessed a moderate rise over the last 12 months. The company’s stock provided a return of 8.8% compared to the S&P 500’s 12.0% over the period. While emerging opportunities in the Software as a Service (Saas) and
From 2012 to the end of 2015, the price of gold fell almost 50%. The price of gold is up 26%, more than a 300% premium to the S&P 500's 6% return. Gold's sudden reversal is being driven by the same trend that's driving the U.S. dollar.
Banking analyst Mike Mayo of CLSA said in a note to investors Monday that his firm's support of Wells Fargo Chairman and CEO John Stumpf "is now wavering," in the wake of the fallout from the $185 million secret account settlement. Stumpf's actions so far — covering his initial response through last week's hearing before the Senate Banking Committee — have been "reactionary versus leading," Mayo wrote. Executive pay "clawbacks should be put in place," the analyst added. "We believe Wells Fargo is bigger than the CEO, notwithstanding a good financial track record during his tenure, and there should be no more excuses." Stumpf would stand to walk from the bank with $123.6 million in severance and
Back in 1994, William Bergman, a now-retired California financial planner, published a report in the Journal of Financial Planning that pegged 4 percent as the "safest" withdrawal number that would hike the odds of retirees not outliving their money. By and large, Bergman's 4 percent rule was meant to cover 30 years worth of retirement savings. Thus, if a newly-minted 65-year-old retiree could manage to limit annual withdrawals to 4 percent of savings, he or she would still have retirement fund cash available to them by his or her 95th birthday.
NEW YORK (TheStreet) -- Shares of Ariad Pharmaceuticals (ARIA) were advancing in late afternoon trading on Monday as Leerink began covering the stock with an "outperform" rating and $20 price target earlier today. "Despite recent strong stock performance, Ariad shares still trade at a discount to other commercial stage oncology biotech companies while the top line is expected to grow above that of its peers with a 35% 2016 to 2018 compound annual growth rate (CAGR)," the firm said. Ariad's brigatinib drug for certain types of lung cancer is "underappreciated" by Wall Street due to its late entry into the market, Leerink said. But the firm said that brigatinib is "well-positioned" to exceed commercial
Claiming Social Security is one of the most important financial decisions you'll ever make. Many Americans prefer to turn to the Social Security Administration for help in figuring out when to take their Social Security benefits, and the SSA provides a lot of valuable information both on its website and through its personnel. Yet a recent study from the General Accounting Office took a closer look at the way that the SSA interacts with people filing for Social Security benefits, and it found that in the process of handling in-person claims, the SSA's claims specialists didn't always provide all the key information that people need in order to make an informed choice. Below, we'll look at six
When LVMH hired former Apple music executive Ian Rogers to craft a digital strategy, investors may have hoped for some quick results. Almost a year later, aside from drafting in more digitally-savvy people and taking part in a technology start-up fair, his impact on the world's biggest luxury goods group has yet to become visible. Changing mentalities and priorities at LVMH takes time, according to sources close to the 78 billion euro ($88 billion)group controlled by France's richest man, Bernard Arnault.