CNBC's Rick Santelli wonders if the early release of economic data is really about price or principle.
European Union nations reacted with surprise and defiance Monday to comments by President-elect Donald Trump, who said in an interview that he believed NATO was "obsolete" and that more member states would leave the 28-nation EU. "I'm personally going to wait until the American president takes office, and then we will naturally work with him on all levels," she told reporters.
If options traders are correct, stocks are in for a wild ride in February. Demand for one-month call options tied to the CBOE Volatility Index, a popular gauge of stock-market volatility, has spiked in the past week, a sign that some are bracing for a sharp downturn following the inauguration of President-elect Donald Trump. In that time, investors have purchased 250,000 VIX call options with a strike price at 21, and another 100,000 with the strike at 22, according to Brian Bier, head of sales and trading at Macro Risk Advisors, an options brokerage. The options cost roughly 49 cents per contract, Bier said. By comparison, the CBOE Volatility Index VIX, -2.69% was at 11.16 in midday trading
Eight men own the same wealth as the poorest half of the world's population, a level of inequality which "threatens to pull our societies apart", Oxfam said on Monday ahead of the World Economic Forum opening in Davos. Picked from Forbes' billionaires list, they include Microsoft founder Bill Gates, Mark Zuckerberg who co-founded Facebook, and Jeff Bezos, founder of Amazon. Oxfam pointed to a link between the vast gap between rich and poor and growing discontent with mainstream politics around the world.
The outgoing director of the Central Intelligence Agency, John Brennan, had strong words for President-elect Donald Trump on Sunday, just days after the incoming commander in chief compared the US Intelligence Community to Nazis and repeatedly suggested that the CIA and others were actively working against him. In an interview with Fox News Sunday host Chris Wallace, Brennan suggested that Trump has much to learn about the dangers facing the country, and said he hopes that the next president will focus less on defending himself from slights on social media and more on the threats that the Intelligence Community is working to combat. “What I think Mr. Trump has to understand is that this is more than being about him, and it's about the United States and our national security,” Brennan said.
Experts think that even if Marijuana gets Schedule 2 status, things won’t be too easy for companies dealing in it, as they would come under the control of the FDA, which would control the THC content (the psychoactive component of marijuana) in their batches, along with putting in other restrictions. Donald Trump’s nomination of Senator Jefferson Sessions for the post of attorney general has made the future of marijuana legalization in the country even more blurry, because the Senator has a history of loathing pot. During a floor speech in 2016, Sessions criticized Barack Obama’s frank mentions of pot in public, and said that states in which Marijuana is legal are already facing a “disturbance”.
President-elect Donald Trump has warned the United States will impose a border tax of 35 percent on cars that German carmaker BMW plans to build at a new plant in Mexico and export to the U.S. market. Trump was speaking in an interview with German newspaper Bild, which on Sunday released excerpts of his comments translated into German. A BMW spokeswoman said a BMW Group plant in San Luis Potosi would build the BMW 3 Series starting from 2019, with the output intended for the world market.
Any number of unexpected financial roadblocks can make setting aside extra money every year for retirement tough. While everyone's situation is different, it can be helpful to educate yourself about how peers are saving, especially if it leads you to
In a departure from the leniency typically given South Korean big businesses, prosecutors on Monday requested the arrest of the de facto head of Samsung Electronics, the country's most valuable company, in an influence-peddling scandal that has toppled the country's president. It will surprise many that prosecutors requested the arrest of the man who symbolizes the future of South Korea's most important chaebol, as family-controlled conglomerates are known. Samsung Electronics is South Korea's most successful company and a source of pride for many who equate its huge global success with national prestige.
The top priority for the 49ers is to have a GM and head coach that are on the same page. With Josh McDaniels and Kyle Shanahan emerging as the top candidates, who will get the job?
German carmakers pushed back Donald Trump’s threats of import duties on the autos they make in Mexico, pointing to extensive production expansion in the U.S. in recent years. BMW AG, which the president-elect singled out in an interview with German newspaper Bild on Sunday, sought to defuse potential tensions by stating that its largest factory is in South Carolina and that cars made at a planned, smaller factory in Mexico will be exported globally. Trump said BMW will face a 35 percent import duty on vehicles it exports to the U.S. from Mexico. “We take the comments seriously, but it remains to be seen if and how the announcements will be implemented by the U.S. administration,” Matthias Wissmann, president of German auto industry association VDA, said in an e-mailed statement.
In case you needed one more way — or reason — to buy things from Amazon, here it is. The retailer AMZN, +0.43% on Wednesday announced its new Amazon Prime Rewards Visa Signature credit card, which will offer 5% back to customers who are members of Amazon Prime, which itself costs $99 per year to join. It also offers 2% back at restaurants, gas stations and drugstores and 1% back on all other purchases. There is no cap on the amount of rewards cardholders can earn. It is a Visa card V, -0.25% issued through Chase JPM, +0.53% The card has no annual fee and does not charge foreign transaction fees, and charges 14.74% to 22.74% annual percentage rate on unpaid balances versus the average credit
Oil prices were under pressure on Monday due to doubts that large oil producers will reduce production as promised and on expectations that U.S. production would increase again this year. The Organization of the Petroleum Exporting Countries (OPEC) has agreed to cut production by 1.2 million barrels per day (bpd) to 32.5 million bpd from Jan. 1 in an attempt to clear global oversupply that has depressed prices for more than two years. Russia and other key exporters outside OPEC have said they will also cut output.
Vanguard Equity-Income Investor (VEIPX) a Zacks Rank #1 (Strong Buy) seek high level of dividend income and long-term growth of income and capital. The fund invests in a diversified group of large and mid-capitalization stocks with above average dividend
Over the past five years, stock analysts have challenged JPMorgan Chase & Co (JPM.N) executives for keeping so many branches open as customers did more and more banking online. JPMorgan has grown deposits over the last five years faster than major competitors and twice as fast as the industry, according to analysts at Bernstein Research. Deposits in the Chase consumer bank grew in 2016 by 11 percent, or some $61 billion, the bank said when reporting quarterly results last week.
The Trump rally is on its last legs, and according to one strategist, that means stocks could see a huge drop in the coming months. Meanwhile, the Dow Jones Industrial Average (Dow Jones Global Indexes: .DJITR) continues to hover just under the 20,000 level, underscoring what some analysts believe is a market that's starting to look too frothy. "The U.S. market, we feel, was already overvalued going into the election," Mark Eibel, director of client investment strategies at Russell Investments told CNBC's "Futures Now" last week.
Social Security applicants now have fewer filing options than they had in the past, but there are still some strategies that can help you maximize your benefits for yourself and your loved ones. The first thing you need to understand about Social Security is that when you file for one type of benefit, such as a spousal benefit, the Social Security Administration will deem you to have filed for every type of benefit for which you're eligible, including spousal, family, or individual benefits. If you suspend them, then you will not receive payments until a time of your choosing or your maximum retirement age. Generally, the best choice you can make when it comes to maximizing your Social Security benefits is to wait until you have reached the maximum retirement age of 70 to begin taking them.
You may or may not have heard of Medicare Advantage plans, but you would do well to learn more about them. After all, as of last year, more than 17 million Americans had enrolled in them, up from about 7 million in 1999. Enrollment in them has been steadily rising for more than a decade and now represents about 30% of the entire Medicare market. Should you enroll in a Medicare Advantage plan? You may well want to, once you review their upsides and downsides. Medicare Advantage in a nutshell When you enroll in Medicare -- which you can do at age 65 -- you can choose either the "original" Medicare package of Part A and Part B (covering, respectively, hospital and medical expenses) or a Medicare
SpaceX launched a Falcon 9 rocket for the first time since a fireball engulfed a similar rocket on a Florida launch pad more than four months ago. (Jan. 14)
ThinkstockIn 2015, the Internal Revenue Service audited only 0.84% of all individual tax returns. So the odds are generally pretty low that your return will be picked for review. That said, your chances of being audited
Have you seen the Geico ad with the talking parrot? A 19th-century ship is boarded and the captain is surrounded by pirates. The leader shouts, “Let’s feed him to the sharks,” (pirate cheers and swords held high) “and take all his gold” (more cheers). The parrot repeats these lines, and adds, “and hide it from the crew. They’re all morons anyway.” The voiceover at the end of the Geico ad explains, “If you’re a parrot, you repeat things. That’s what you do.” If you’re a voice-activated Internet of Things (IoT) device, you don’t repeat things, but you may transmit them. Voice-activated IoT devices (which, for this piece, includes smartphones and televisions) are always there, just like that pirate’s
The world's eight richest individuals have as much wealth as the 3.6bn people who make up the poorest half of the world, according to Oxfam. The charity said its figures, which critics have queried, came from improved data, and the gap between rich and poor was "far greater than feared". Oxfam's report coincides with the start of the World Economic Forum in Davos. Mark Littlewood, of the Institute of Economic Affairs, said Oxfam should focus instead on ways to boost growth. "As an 'anti-poverty' charity, Oxfam seems to be strangely preoccupied with the rich," said the director-general of the free market think tank. For those concerned with "eradicating absolute poverty completely", the focus
Editors' pick: Originally published Jan. 13. There is a lot of preparation that goes into planning for retirement. For many, the first part is the hardest - saving and planning for retirement. We already know that most people have saved very little for retirement and planned even less. The next hard part, for those entering retirement, is figuring out how to make that nest egg last. One of people's biggest fears is that they will run out of money in retirement, and for many it is a legitimate fear. And that also leads us to the third retirement challenge - and that's pulling off a successful retirement. Remember, you are figuring out how to live for the rest of your life on a fixed income. And
It's a new year and time to put the last one to bed, which means filing your taxes. The Internal Revenue Service says to expect a few changes when the nation's individual income tax filing season opens on Jan. 23. Here are some of the changes you should be aware of: NEW DATE: Taxes are usually due on April 15, but this year that falls on a Saturday. And Emancipation Day, a holiday in Washington, D.C., will be observed on Monday, April 17. So that pushes the nation's deadline to file returns and pay any amount due to April 18. You don't have to wait until then to meet with a tax professional or start the process though. DELAYED REFUNDS: A new law may delay refunds for some low to moderate income
By Se Young Lee SEOUL (Reuters) - A Samsung Electronics Co Ltd investigation into what caused some Galaxy Note 7 smartphones to catch fire has concluded that the battery was the main reason, a person familiar with the matter told Reuters on Monday. Investors and analysts say it is critical for Samsung to provide a convincing and detailed explanation about what went wrong with the Note 7 and how it will prevent such problems from recurring if it is to regain consumer trust. "They've got to make sure they come clean and they've got to reassure buyers as to why this won't happen again," said Bryan Ma, Singapore-based analyst for researcher IDC.
The eight tycoons' net worth, as calculated by Forbes magazine, was cited Monday by anti-poverty activists Oxfam in a report highlighting income inequality. Gates co-founded Microsoft in the mid-70s, growing it into the world's biggest software company and helping to make computers a household item. The richest person in Europe, Ortega opened the first Zara fashion shop in 1975.