- S&P 5003,006.79+0.00%
- Dow 3027,094.79-0.19%
- Nasdaq8,182.88+0.07%
- Russell 20001,561.47-0.44%
- Crude Oil58.86+1.26%
- Gold1,507.00+0.05%
- Silver17.87-0.08%
- EUR/USD1.1050+0.0442%
- 10-Yr Bond1.7740-0.67%
- Vix14.05+0.72%
- GBP/USD1.2526-0.0263%
- USD/JPY107.9980-0.0287%
- BTC-USD10,311.12+0.29%
- FTSE 1007,356.42+0.58%
- Nikkei 22522,044.450.00%
- MarketWatch
Billionaire investor on Elizabeth Warren as president: Market might not even open
The Democratic Party seems to be leaning towards the left on policies, which is very harmful for the economy. I don't like the shift to the left,” he explained to CNBC, adding that the market, of course, will open, but it won't be pretty. It would be a bear market and they go on for a year and go down 25%,” he said.
- Bloomberg
UBS Bets on China’s Nasdaq-Style Exchange to Offset a Ban in Hong Kong
UBS Group AG, which runs the biggest foreign-controlled investment bank in China, is counting on the nation's new Nasdaq-style exchange to mitigate the impact of an underwriting ban in Hong Kong, according to people familiar with the matter. Beijing-based UBS Securities Co. aims to boost fees from arranging share sales on the technology board, known as STAR Market, to 20% of its stock underwriting income from the mainland by December, said the people, asking not to be identified since the projections are confidential. The contribution may reach 50% as soon as next year, with the bank working on two first-time offerings that may raise up to 3 billion yuan ($423 million), they said.
- Oilprice.com
Is Libya Facing A New Oil Crisis?
Libya's National Oil Corporation (NOC) condemned on Thursday the setting up of a parallel board of directors at one of its key subsidiaries, fuel distributor Brega Petroleum Marketing Company (BPMC), saying that attempts at politicizing the oil sector puts Libya at risk of partition. BPMC, which is based in eastern Libya, has seen some board members break away and accuse parent company NOC of deliberately cutting jet fuel and kerosene supply to the eastern part of the country, controlled by eastern strongman General Khalifa Haftar.
- Reuters
U.S. stock exchange competition to heat up in 2020 with new entrants
At least three new U.S. stock exchanges are expected in 2020, executives from the companies said on Thursday, potentially lowering trading costs as the upstarts try to take business from the incumbents, while also adding complexity to the marketplace. There are currently 13 U.S. stock exchanges, 12 of which are run by Intercontinental Exchange Inc's NYSE, Nasdaq Inc , and Cboe Global Markets . "I could see us getting to 20-plus," Bryan Harkins, co-head of markets at Cboe, said of the potential for new exchanges, at a Securities Industry and Financial Markets Association conference.
- Yahoo Finance
The Property Brothers say these are two of the best cities for real estate investment
In a new interview, Jonathan and Drew Scott — co-hosts of the HGTV series “Property Brothers” — explain where buyers should invest in real estate, and why Las Vegas and Nashville are at the top of their list. “Don't go and invest across the country somewhere that you don't know,” Drew Scott says. Political or economic conditions can determine whether it's worthwhile to build somewhere, said Jonathan Scott, Drew's twin.
- InvestorPlace
AT&T Stock Is Doomed to Become the Next GE
For years, AT&T (NYSE:T) stock has been a “yield trap.” This is a stock who's dividend is too good to be true. DirecTv cost AT&T $49 billion in 2015 but has lost 2.5 million subscribers in the last year. AT&T CEO Randall Stephenson's planned glorious retirement next year is beginning to look more like former General Electric (NYSE:GE) CEO Jeff Immelt's more ignominious exit.
- Barrons.com
Oracle Founder Larry Ellison Calls Uber and WeWork ‘Almost Worthless’
Uber (ticker: UBER) sports a market valuation of more than $57 billion, while WeWork has raised more than $12 billion in venture capital. At an event Wednesday at his house in San Francisco's Pacific Heights neighborhood, Ellison met with a small group of entrepreneurs, and spent more than an hour answering their questions on a variety of topics. Ellison asserted that while he is close friends with Softbank's Masayoshi Son, he doesn't see the investment case for either WeWork or Uber, both large holdings in Softbank's Vision Fund.
- MarketWatch
The U.S. isn’t even in the top 10 for best countries for retirement
The United States could learn quite a bit from other countries around the world when it comes to retirement security, according to a new report. The annual Global Retirement Index, started by Paris-based investment bank Natixis Investment Managers, analyzes four key indexes: finances in retirement, including taxes and the old-age dependency ratio; health, such as life expectancy and expenses; “material well being,” which is income equality and unemployment; and quality of life, including happiness and water quality. Iceland topped the list this year, followed by Switzerland and Norway.
- Bloomberg
Repo Turmoil Points to Shortage of U.S. Dollars in System, Says Manulife’s Trinh
Sue Trinh, managing director for global macro strategy at Manulife Investment Management, discusses the repo market volatility and its impact on Fed policy. She speaks on “Bloomberg Markets: China Open.
- FX Empire
Gold Price Prediction – Prices Consolidate and Remain Range bound; Geopolitical Risks Remain
Gold prices moved sideways as the fallout from the Feds FOMC meeting, was minor. The Fed gave a hawkish cut of interest rates pushing the Fed fund rate down to a range between 1.75%-2.0%. The markets are still pricing in an additional 25-basis point cut in 2019, despite 3-dissents on the FOMC decision.
- Investor's Business Daily
Crude Oil Prices Rise As Iran Warns Of 'All-Out War'; Pentagon Responds
Crude oil prices headed back up Thursday as tensions with Iran escalated, while analysts doubted Saudi Aramco's timeline to return to normal. The attacks over the weekend hit the Abqaiq production facility, the heart of Saudi Arabia's oil sector. It processes 5.7 million barrels of oil a day, or roughly half of the country's production and 5% of global supply.
- Barrons.com
What to Do With Your Cash Now That the Fed Has Cut Interest Rates
The Federal Reserve announced Wednesday that its Open Market Committee had voted to cut the federal funds rate by 25 basis points to a range of 1.75% to 2%. The federal funds rate is the benchmark interest rate that banks use when lending to one another. Interest rates on loans and deposits are typically influenced by the Federal Reserve's decisions vis-à-vis the federal funds rate.
Oilprice.comNatural Gas Could Be Replaced Within 15 Years
Technological improvements in hydraulic fracking are making 'America Great Again' when it comes to its energy sector. Unconventional oil and gas reserves, which previously were deemed as 'uneconomic to produce', are being exploited on a massive scale. Consequentially, the shale revolution has altered the international energy landscape, which has enabled cooperation between rivals Russia and Saudi Arabia within the OPEC+ framework.
- Investor's Business Daily Video
MSFT Gaps Up On Share Buyback
The Dow stock backed off highs after topping a 141.78 buy point. Sentiment was bullish early after the company announced a $40 billion share buyback and raisied its quarterly dividend.
- InvestorPlace
Which 5G Stocks will Be the Biggest Winners?
But as 5G takes the world by storm and ushers in a new technological revolution, there's about to be a WAY bigger opportunity than we could capture by simply buying Nokia stock. The infographic below shows how 5G compares to 4G… how that compared to 3G… and so on. Those Nokia flip-phones had their heyday back at 1G and 2G. Then 3G was what allowed Apple (NASDAQ:AAPL) to take the world by storm with the iPhone.
- InvestorPlace
National Cheeseburger Day Deals 2019: Where to Get Cheap or Free Cheeseburgers Today
Here are some of the best National Cheeseburger Day deals 2019 to keep a look out for. Applebee's — The Classic Bacon Cheeseburger only costs $6.99 today and comes with endless fries. Burger King — Customers can get a 59-cent cheeseburger today when ordering through the chain's app.
- Quartz
Storing energy in compressed air could finally become cheap enough for the big time
Solar and wind power provide carbon-free electricity. While lithium-ion batteries have started to meet some of the need for storage, the metals needed to make them are not plentiful enough for large-scale energy hoarding. At Quartz, we've written about companies working on reversible sulfur power-plants, injecting water underground, running “refrigerators on steroids,” and using stacked concrete blocks—all with the purpose of storing excess renewable energy.
- Reuters
The wrong stuff? Chuck Yeager, pilot who broke sound barrier, sues Airbus
In a complaint filed on Wednesday that refers to him as "one of the most, if not the most, famous pilots of all time," the 96-year-old Yeager objected to a June 2017 piece on Airbus' website about making the Airbus Racer a fast and cost-effective way to fly. The piece quoted Guillaume Faury, now Airbus' chief executive officer and at the time Airbus Helicopters' CEO, as saying: "Seventy years ago, Chuck Yeager broke the sound barrier," and Airbus was now "trying to break the cost barrier.
- InvestorPlace
GE’s Asbestos Problem Is Terrible News for the Owners of GE Stock
Biotech Stocks That Show The Good, The Bad and the Ugly Side of This Sector However, it was recently alleged that General Electric had sold leftover asbestos scrap from its Peterborough plant to its workers for as many as 35 years. That allegation ought to make the owners of GE stock quite nervous. Just as GE is turning a corner under Culp's leadership, a story comes out that could torpedo General Electric stock.
- Investopedia
What Does an Ideal Retirement Portfolio Look Like?
Although the concept of an ideal retirement portfolio is somewhat relative, many financial planners would define this in terms of what it is able to do. An “ideal” plan in this sense is one that would meet your financial needs until death. The manner in which the actual funds are allocated in order to accomplish this can vary substantially depending on a number of factors. Most ideal portfolios for carrying someone through retirement are going to have at least some measure of the following characteristics. Retirement plans are designed to grow over long periods of time, and growth instruments such as stocks and real estate typically form the nucleus of most successful retirement portfolios, at least when they are in the growth phase.
- American City Business Journals
Kratos lands $35 million Air Force contract for drones
The Sacramento operation of Kratos Defense & Security Solutions Inc. won another military contract to build $35 million in parts for jet-powered aerial target drones. San Diego-based Kratos (Nasdaq: KTOS) said these parts were being ordered by the U.S. Air Force, to be delivered by March 30, 2024. In June, Kratos received new orders from the U.S. Navy and Air Force that combined for $57 million for its jet-powered unmanned aircraft.
- InvestorPlace
10 Excellent Stocks to Watch for 2020 and Beyond
It would be naive to believe the coming year, however, is going to look like a year that's about to wind down. As market conditions change and the economic growth cycle matures, different areas thrive, while others struggle. Geography can matter too.
- Barrons.com
Pfizer Is Spinning Off Upjohn. What’s Left Will Be No Bargain, Analyst Says
J.P. Morgan's Chris Schott took a close look at what he calls New Pfizer—the company that will be left over after the spinoff of its Upjohn division, which is set to merge with the generic drugmaker (MYL)(ticker: MYL). While the Mylan / Upjohn transaction creates a smaller, innovation-driven biopharma business and increases the company's near-term growth prospects, we feel the company's multiple is ahead of itself with Pfizer RemainCo trading near the top end of the Major Pharma valuation range,” Schott wrote. Schott says that the stock is now trading at 15.6 times the projected 2020 earnings per share of the post-split company.
- Investopedia
Canopy Growth Facing Giant Losses
Canopy Growth Corp. (CGC), the largest cannabis company in the world by market capitalization, has seen its stock plunge by more than 50% over the last 11 months, dragging down its value from about $20 billion to $9.5 billion today. Now, the Canadian grower faces even more trouble ahead as it racks up an estimated $500 million in losses for the two-year period ending March of 2021, according to Oppenheimer analyst Rupesh Parikh, according to Barron's as outlined in detail below. The woes at Canopy Growth, whose stock initially soared several-fold after it went public, illustrates both the massive operating and market challenges facing cannabis producers, and waning investor optimism for cannabis stocks such as Aurora Cannabis Inc. (ACB), Tilray Inc. (TLRY) and Cronos Group Inc. (CRON).
- MarketWatch
Overstock founder tried to squeeze short sellers, then sold out when the SEC cracked down
One of Patrick Byrne's last acts at Overstock.com Inc. appears to have forced a short squeeze that warranted the attention of the Securities and Exchange Commission, and the sell-off of his entire stake over the last three days is now raising questions about whether he tried to manipulate the market. Byrne, the controversial founding chief executive of Overstock (OSTK) who has long been at open war with short sellers and Wall Street at large, left the company last month amid some of the strangest circumstances and stories from a tech executive since John McAfee fled Belize. Before he left, though, he installed plans for a “digital dividend” for Overstock shareholders that appears designed to be a shot of pure poison for the people Byrne appears to hate only as much as “the Deep State,” short sellers.
