The selloff in financial stocks isn't unanimous Tuesday, but it's pretty close, as the yield on 10-year Treasurys resumed their decline after a two-day bounce off last Thursday's 3-year low. The SPDR Financial Select Sector ETF (xlf) shed 1.1%, with 64 of 68 equity components trading lower, and was the biggest decliner of the SPDR sector ETFs tracking the S&P 500's 11 sectors. Meanwhile, the SPDR S&P Bank ETF (kbe) slumped 1.3% with 89 of 90 components losing ground and the SPDR S&P Regional Banking ETF (kre) slid 1.4% with 119 of 122 components declining.
Of course, investors in their 30s should be holding some of their money in an index fund that will provide conservative growth. Since then, the market has come to its senses and DIS stock is back to trading above $135 per share. The first is that the company is ripe for a major comeback.
The home improvement chain, which has distanced itself from co-founder Bernie Marcus' support for Trump's re-election campaign, blamed the impact of the trade dispute as well as a continued slump in lumber prices for a cut in its full-year sales forecast. The United States' proposed tariffs on an additional $300 billion worth of goods, which would effectively tax almost everything imported from China, have sent jitters through Wall Street as companies warn that prices for U.S. shoppers would likely rise, potentially slowing economic growth. "A tariff is a tax and not knowing how the consumer is going to react to that is probably prudent given the environment we're in right now," Gordon Haskett analyst Chuck Grom said.
The world's first 30-year bond offering a zero coupon struggled to find buyers, signaling that negative yields across Europe may finally be taking their toll on investor demand. Germany failed to meet its 2-billion-euro target ($2.2 billion) for the auction of notes maturing in 2050, selling only 824 million euros. The whole of Germany's yield curve is now below zero -- the first major market exhibiting such a trait -- meaning the government is effectively being paid to borrow out to 30 years.
ScanSource (NASDAQ: SCSC) announces its next round of earnings this Tuesday, August 20. Here is Benzinga's everything-that-matters guide for the Q4 earnings announcement. Wall Street expects EPS of 82 cents and sales around $999.63 million.
Annual consumer price inflation was 2% in July, matching June's pace, Statistics Canada said Wednesday from Ottawa. Core inflation, a better gauge of underlying pressure, unexpectedly ticked up slightly to 2.03%. Stronger inflation dynamics in Canada are one reason why economists and markets are anticipating fewer cuts, and a slower pace of reductions, by the Bank of Canada than the Federal Reserve.
Charlies Liu, founder of Hao Capital, discusses the U.S.-China trade spat, the situation with Huawei and the length of the negotiations. He speaks on “Bloomberg Markets: China Open.
President Trump knows a lot of voters don't like him. The allegation is clear: Democrats are bad for the stock market, so if a Democrat beats Trump in 2020, stocks will tank and every American with a portfolio will lose money. Democrats, in reality, are good for the stock market.
Software developers, physical therapists and physician assistants crop up frequently among the highest-paid and fastest-growing jobs in every U.S. state, according to a new analysis by CareerBuilder. The site analyzed government data to project the careers most likely to be lucrative and in demand. Most of these jobs require some level of college education.
Don't miss: The investing opportunity of a lifetime awaits us when the recession arrives The New York Federal Reserve puts the probability of a recession within a year above 30%. The Cleveland Federal Reserve puts it even higher, above 40%. Morgan Stanley's chief U.S. economist, Ellen Zentner, is more hopeful, but recently said: “For now, the path to the bear case of a U.S. recession is still narrow, but not unrealistic.
Entertainment operator Madison Square Garden disappointed Wall Street with a wider-than-expected fiscal fourth-quarter loss. "Looking ahead, we remain confident in the strength of our core businesses and expect fiscal 2020 to be an important year as we work to complete the proposed sports spinoff and begin to usher in the company's next chapter, with MSG Sphere in Las Vegas starting to take shape," says CEO James Dolan in a statement. MSG shares fell to new lows after the company disclosed steep construction costs of the Vegas venue, which MSG plans to open in 2021.
How Much Money Does Everybody Owe? Q2 2019 Edition Every quarter, the Federal Reserve Bank of New York releases data on how much household debt Americans are accumulating. Here's everything you need to know about American debt in Q2 2019.
Mark Mobius, co-founder and partner at Mobius Capital Partners, discusses demand for commodities and his outlook for gold. He speaks on “Bloomberg Markets: Asia.
When rates eventually reach zero in the U.S. amid slowing growth in Europe and China, Bass warns, it will only fan the flames of inequality in America. “The unintended consequences of central bank printing are that it makes the rich even richer, it makes the middle class stay where they are and it makes the poor stay poor,” Bass explained to CNBC.
Warren Buffett has more cash than ever, and he's on the hunt for his next big purchase. Buffett's Berkshire Hathaway reported a record $122 billion of cash on its books last quarter, which the legendary investor has said is “far beyond” the level he prefers. In his most recent letter to shareholders, Buffett told investors he was looking for an “elephant-sized acquisition,” but that things were too expensive for his liking.
Studies have shown it is very difficult to predict recessions, interest rates or financial markets. We need to predict future political conditions that will affect tax rates, the health-insurance marketplace and Social Security. Most political “experts” couldn't accurately predict the outcome of our last presidential election the day before it occurred.
Investors are no doubt hoping for interest-rate cut reassurance from the Federal Reserve meeting minutes due later. On the speaking circuit, Minneapolis Fed's Neil Kashkari pounded the table for a rate cut in September, while San Francisco Fed President Mary Daly said recession is not on the horizon. You can't blame investors for wanting to stay upbeat and believe in this bull market.
Policy makers have lost control of the narrative, making it time for a radical change in the focus of domestic monetary policy. This is a call to the Federal Reserve to abandon interest-rate targeting and adopt inflation targeting using the balance sheet as the intermediate focus of policy decision. Similar to the late 1970s when then Chairman Paul Volcker faced a stagflationary environment which weakened confidence in the Fed's ability to deal with the growing imbalances in the economy, Mr. Powell, you are now confronted with an equally challenging, deflationary economic environment.
The S&P 500's highest yielding dividend stocks are selling at their biggest discount in nearly 40 years as bond yields across the globe are plunging. Despite mounting fears concerning global trade, weak economic data coming from economic powerhouses like China and Germany, and the brief inversion of the U.S. Treasury yield curve last week, Goldman Sachs recommends a basket of dividend stocks with high growth potential and which are trading at bargain prices. The basket is comprised of stocks from a range of sectors, offering impressive expected dividend yields (DY) for the year and attractive forward-looking price-to-earnings ratios (P/E ratios), including, AT&T Inc.
Shares have been hammered by AbbVie's agreement to buy (AGN) (AGN), a deal AbbVie shareholders have no vote on. Jeffrey Ryan Stewart, AbbVie's senior vice president of U.S. commercial operations, bought shares near the low, paying $1 million on Aug. 16 for 15,552 shares, an average per-share price of $64.44. AbbVie said Stewart wasn't available for comment on his stock purchases.
TSLA says it should deliver 360,000 to 400,000 cars by the end of 2019. Tesla made some very interesting statements in its quarterly letter about its financial viability. Second, TSLA said that it expects to reach positive free cash flow “with possible temporary exceptions.” In Q2, Tesla reported operating cash flow of $614 million, including capital expenditures.
As a result, Walkley reiterated his Buy rating on NOK stock, with a 12-month price target of $7.00, implying 34% upside from current levels. In the long-term, Walkley believes the company can emerge as an industry leader. Further, we anticipate an increasing revenue mix from higher-margin regions as the U.S., Japan, and Korea represent some of the early adopters of 5G investments.
One of the great things about Vanguard, aside from the low costs, is that when the issuer's index, mutual, and exchange traded fund (ETF) lineups are added, there are plenty of choices for wide varieties of investors, including those on the more risk-averse side of the ledger. Of course, costs, as in low costs, are one of the biggest reasons why Vanguard is a behemoth in the index fund universe and the second-largest U.S. ETF issuer.
This certainly doesn't bode well for them saving enough money to be financially independent in retirement. Now, more than ever, retirement is built on personal savings and it's up to the individual — not the government or employers — to make that dream a reality. The notion of working your entire life while simultaneously stashing away money for your future is something I frequently refer to as, “the great retirement experiment.” Let's take a look at how we got here.
U.S. President Donald Trump looks on as Jerome Powell, his nominee to become chairman of the U.S. Federal Reserve, speaks at the White House in Washington, U.S., November 2, 2017. President Donald Trump continued his months-long criticism of Federal Reserve Chair Jerome Powell on Wednesday. The only problem we have is Jay Powell and the Fed. He's like a golfer who can't putt, has no touch.