Get ready for a 'tale of two markets,' says oil expect Tom Kloza 5:57 PM ET Thu, 19 Oct 2017 | 01:31 The United States has started doing something unprecedented when it comes to oil, and the impact is expected to grow into next year. Tom Kloza of the Oil Price Information Service is alluding to the U.S. ramping up exports. It follows the 40-year ban that was lifted two years ago. "The highlight you need to watch for the next few months is going to be more record breaking exports of crude oil. Our view is that it's going to soften the price for Brent," the firm's global head of energy analysis said recently on CNBC's "Futures Now." According to Kloza, it's possible the U.S. will export 15 million
Big money managers, already on guard to protect one of their richest sources of assets, are on alert as more details emerge on how prized 401(k) contributions could fall victim to President Donald Trump’s tax overhaul plan. The New York Times reported Friday that the administration may seek to limit pretax contributions to 401(k) plans to as little as $2,400 annually, down from the current maximum of $18,000 for most workers and $24,000 for those 50 years or older. The measure, rumored for months as a way to help offset the individual and corporate tax cuts that the Trump administration hopes to enact by year end, would essentially pull future tax revenues forward by requiring Americans to pay taxes on retirement savings now instead of when they tap their nest eggs.
Private equity firms are killing it. Money typically follows performance, and so investors have been pouring funds into the private equity asset class in recent years. Nowhere is this more clear than at Blackstone, the largest publicly-traded private equity firm, which said Thursday that assets under management had hit a record high of $387 billion.
Oct.22 -- Embattled commodity trader Noble Group announced the sale of its U.S. oil-liquids business to Vitol Group, with proceeds to be used to pay down dome of the company's debt. Bloomberg's James Poole reports on "Bloomberg Markets: Asia."
Given where we are in the bull market, investors should own certain types of stocks according to billionaire Ken Fisher, founder and executive chairman of Fisher Investments. "When we're in the latter third of a bull market, you want to own big, well-known names and overwhelmingly in tech, healthcare, consumer staples, but not consumer discretionary -- telecom and also financials." For financials, Fisher prefers foreign financials over U.S. financials. "The U.S. banks are impacted by a flattening yield curve to the extent that the Fed raises short-term rates - which doesn't apply to foreign banks," he said. "Foreign banks' loan structure is markedly different than American banks' loan structure."
Warren Buffett generally likes to take a hands-off approach when it come to investing in companies, but he has some advice for CEOs on how to run a business better. Warren Buffett, generally speaking, likes to take the hands-off approach with companies he and Berkshire Hathaway invest in.
My question is about financial advisers. My wife and I have adequate retirement savings, our mortgage is paid off, we have virtually no debt, and we are invested almost exclusively in index funds with low fees. If the value of your nest egg is, say, $1.5 million, then $15,000 goes to your adviser.
Feeling stressed about money isn't uncommon, but for many people with student loans, the burden takes a toll physically and psychologically. According to a Student Loan Hero survey of more than 1,000 student loan borrowers, respondents reported experiencing anxiety, insomnia, headaches, social isolation, and more as a result of their student loan debt. Starting your career with tens of thousands of dollars in student loan debt can make the goal of financial security seem unattainable.
Merck & Co. said it is laying off nearly 7% of its U.S. workforce in a reorganization the company says will cut costs and shift focus to products with growth potential.
After reporting lower than expected quarterly profits and slashing its earnings outlook for 2017, General Electric's (GE) light bulb might be starting to burn out. After over 100 years of lighting darkened doorsteps, GE's consumer lighting division will likely be among the first of the $20 billion in assets that are sold or spun off as CEO John Flannery works to consolidate the aging company. GE formally put its consumer lighting division up for sale in June. In a recent earnings call with investors, Flannery said "everything is on the table, and there have been no sacred cows." "Each GE business is being measured against a set of rigorous strategic and financial objectives," Flannery said.
Hedge fund manager Bill Ackman’s proxy fight against the largest payroll processor in the world, Automatic Data Processing (ADP), has challenged the company to answer criticisms about its operational performance and particularly inflated costs. ADP CEO Carlos Rodriguez told Yahoo Finance that the battle has focused a lot of talk on cost cutting when it should be about growing the top line. ADP’s margins stand significantly below its closest peer, Paychex (PAYX), but Rodriguez emphasized it’s not an apples-to-apples comparison.
Pharmacy-benefit managers, the secretive, opaque middleman in the pharmaceutical supply chain, have never been more powerful. Express Scripts Holding Co. (ESRX) , the largest stand-alone PBM, is chief among those players. Health insurer Anthem Inc. (ANTM) is Express Scripts’ biggest client, and the two have had a 10-year PBM contract since 2009.
Electric-car maker Tesla Inc. has reached an agreement to set up its own manufacturing facility in Shanghai, according to people briefed on the plan, a move that could help the company gain traction in China’s fast-growing EV market. The deal with Shanghai’s government will allow the Silicon Valley auto maker to build a wholly owned factory in the city’s free-trade zone, these people said.
"Unacceptable" is how John Flannery, the chief executive officer of General Electric Co. (GE) , described the company's most recent quarterly results. "Things will not stay the same," he said on a conference call Friday in which he also slashed GE's 2017 projections and outlined restructuring plans. One other thing that may not the stay the same is the company's $0.96 cents per share dividend, which translates into a 4.04% current yield. Flannery had previously pledged to maintain the struggling conglomerate's dividend, but even that is now on the chopping block for 2018. It's a "reset year," he said. So what say analysts about the news that GE isn't committed to maintaining its dividend? "The
Omar Al-Ubaydli, senior scholar, Mercatus Center says Saudi budget plans mean there is a need to raise funds from a stake sale in Aramco, whether via an IPO or private placement.
The financial markets have changed a lot since Oct. 19, 1987, or Black Monday when the Dow crashed more than 500 points and for a brief period the world geared up for the next Great Depression. The assets traded, the technology and speed at which they
Many retailers lure customers with store credit cards during the holidays, which offer discounts in exchange for loyalty. If you carry a balance, it's not a good financial move to sign up for one. Thankfully, shoppers no longer have to wait around for bargain holidays like Black Friday or Cyber Monday to get their fix.
The benchmark S&P 500 and tech-heavy Nasdaq also joined the blue chip index at fresh records in a week that was heavy on earnings, news on tax reform, and reports about who will be the next leader at the Federal Reserve. Notable earnings due out this week include Hasbro (HAS), General Motors (GM), Lockheed Martin (LMT), Caterpillar (CAT), McDonald’s (MCD), AT&T (T), Chipotle (CMG), AMD (AMD), Visa (V), Coca Cola (KO), Boeing (BA), Comcast (CMCSA), Ford (F), Celgene (CELG), UPS (UPS), Alphabet (GOOGL), Amazon (AMZN), Microsoft (MSFT), Expedia (EXPE), ExxonMobil (XOM), and Chevron (CVX) among others.
The global insurance industry is worth nearly $5 trillion, and insurance companies are at risk of losing a share of this valuable market to new entrants. Some are helping incumbents deliver better end products, while others are directly competing with legacy players.
Philadelphia Eagles fan Jim Cramer said Chris Long is a remarkable guy. Long, who plays for the Eagles, announced plans to donate his salary for the season to a host of different charities. Cramer also shares a few insights on his fantasy football strategy. Editors' pick: Originally published Oct. 20.
Abby Joseph Cohen, CFA, is a senior investment strategist at Goldman Sachs. The deep recession triggered by the financial crisis technically ended in the summer of 2009. Despite eight years of economic growth, the labor market improvements have been disturbingly uneven.
Boeing Co.'s (BA) share price rose by 1.5% last week, maintaining the stock's top ranking as the best performer among the 30 stocks that make up the Dow Jones Industrial Average (DJIA). The deal essentially kills the trade case Boeing raised against Bombardier. The U.S. Department of Commerce is not going to charge Delta or any other U.S. airline a tariff to "import" airplanes built in Alabama to another U.S. state.
We asked folks what it was like to live through the Black Monday Crash. 30 years later their stories shed light on a frightening moment for the markets and investors around the world. Jim Cramer spoke about hearing about warning signs and moving his clients into cash. While they were largely unscathed, Cramer recalled the what is now known as Terrible Tuesday and no one knew the value of their portfolios. Peter Schiff spoke about writing a letter to then Fed Chairman Allen Greenspan, who wrote back. TheStreet Inc.'s (TST) CEO Dave Callaway recalled being a cub reporter in Boston and understanding the enormity of the day. Jack Bogle, founder of The Vanguard Group, told TheStreet's Anders Keitz
Experts say that workplace bullying is disturbingly common. A big part of the problem is that there are very few places bullied and harassed employees can turn to for help. Bullying bosses and toxic workplaces have dominated the headlines recently. Along with allegations of sexual assault and harassment perpetrated by movie mogul Harvey Weinstein, members of the entertainment industry have described how his brother Bob Weinstein would bully and verbally abuse staff. In a written statement to The Wall Street Journal, Weinstein said: “At times I have a temper, but I would not describe it as volatile, and I’m definitely not a bully.” The Weinstein company did not immediately return a request for
In October of 1987 the stock market was booming and traders were raking in money hand over fist. The events that followed would lead to new financial regulation, technology and precautions that would look to stop such bleeding in the stock market. A combination of nascent computing technology, an overvalued market and an overzealous and over-bullish trading sentiment, according to experts, remain the main factors of the '87 crash.