- S&P 5002,864.36+0.85%
- Dow 3025,877.33+0.77%
- Nasdaq7,785.72+1.08%
- Russell 20001,545.25+1.33%
- Crude Oil63.02-0.13%
- Gold1,273.50+0.02%
- Silver14.42+0.07%
- EUR/USD1.1166-0.0000%
- 10-Yr Bond2.4260+0.41%
- Vix14.95-8.34%
- GBP/USD1.2718+0.0661%
- USD/JPY110.5580+0.0262%
- BTC-USD7,966.09+0.23%
- FTSE 1007,328.92+0.25%
- Nikkei 22521,353.54+0.38%
- CNBC•2 days ago
S&P still on course for gains despite trade war wobbles, UBS predicts
The S&P 500 fell 0.6% Friday, following a 2.5% decline in China's CSI 300 index, accompanied by reports that trade negotiations had stalled. Despite concerns about the intensifying trade conflict between the U.S. and China, UBS UBSG-CH analysts insist that market fundamentals in the world's largest economy remain strong. In a note published Monday, strategists at the Swiss investment bank said that while investors should protect against any downside, it makes sense to stay invested in the S&P 500 on account of resilient earnings growth, low recession risk and cheap stock opportunities.
- American City Business Journals•1 hour ago
MGM, Wynn drop talk of Encore Boston Harbor casino sale
Wynn Resorts Ltd. and MGM Resorts International say conversations regarding the sale of Wynn's $2.6 billion Encore Boston Harbor resort are over. Wynn (NASDAQ: WYNN) and MGM (NYSE: MGM) had acknowledged their preliminary conversations regarding a potential sale in a statement late Friday afternoon. MGM won a Massachusetts gambling license in 2014 and operates a $1 billion Springfield casino, which opened in August 2018.
- Bloomberg•4 hours ago
Texas Land Bank Proxy Fight Turns Ugly as Dissident Nominee Sued
The meeting, previously scheduled for June 6, has been called off until further notice to give investors "the opportunity to cast a fully informed vote,'' Trustee David E. Barry said Tuesday in a statement. The Dallas-based company also filed a lawsuit in federal court in Dallas against Eric Oliver, the dissident nominee, accusing him of violating securities laws in connection with the proxy contest and secretly working in concert with other parties, including Santa Monica Partners and Universal Guaranty Life Insurance Co. Oliver, who runs hedge fund SoftVest LP, said the claims in the lawsuit are without merit, and Santa Monica Partners and Universal Guaranty didn't need to register as part of the dissident group.
- CNBC•8 hours ago
Dressbarn is about to close 650 stores — here's a map of these locations
Dressbarn's owner Ascena Retail Group ASNA said Monday its closing all of its roughly 650 stores, as it hopes to stabilize its business. Ascena has built up a portfolio of apparel brands over the past decade through acquisitions, including plus-size retailer Lane Bryant and women's apparel brand Ann Taylor. "We are committed to addressing performance at our under-performing brands, and continue to explore opportunities within our portfolio that can allow us to focus capital and management attention on those brands that we believe can deliver sustained growth and profitability by maintaining a differentiated position in the marketplace," said former CEO David Jaffe in March.
- MoneyWise•12 hours ago
Suze Orman Says These Are The Biggest Money No-Nos
Best-selling author, TV host and personal finance guru Suze Orman has been inspiring Americans for decades to make better money moves and avoid serious financial mistakes. She'll be the first to tell you that what you don't do with your money may be even more important than what you do with it. Here are 22 major money don'ts — straight from the expert.
Reuters•2 hours agoSoftBank executive sees major Mexican consumer firms as potential partners
An executive in Japan's SoftBank Group said on Tuesday that the technology conglomerate is open to partnering with major Mexican consumer companies, such as retailer Femsa and bread-maker Bimbo, along with startups in the country. SoftBank announced in March that it would launch the $5 billion Innovation Fund dedicated to Latin America, focusing on financial technology, e-commerce, healthcare and mobility. Shu Nyatta, a fund partner who is based in Silicon Valley and Miami, said at a conference in Mexico City that SoftBank wants to support companies that provide better access to consumers for a variety of services.
Associated Press•5 hours agoTesla reduces prices on Models S and X amid stock slump
Tesla has reduced the prices of its two most expensive models, raising concerns about fading interest in its cars and whether the company can generate enough cash to pay all the bills. On Monday, Tesla cut $3,000 from the price of the Model S sedan and $2,000 from the Model X SUV. The company said in a statement that it periodically adjusts prices and available options like other car companies.
- CNBC Videos•5 hours ago
It's a stock picker's paradise–and here's what you should be buying
The Dow jumps 200 points. So what happens next? A look at what the traders bought today, with CNBC's Melissa Lee and the Fast Money traders, Pete Najarian, Brian Kelly, Mark Tepper and Tim Seymour.
Yahoo Finance•11 hours agoCharlie Munger explains the best career strategy 'for the great mass of humanity'
During the 2019 Berkshire Hathaway Annual Shareholders Meeting, Vice Chairman Charlie Munger shared advice on how most people should approach obtaining success in their careers. “I think the right strategy for the great mass of humanity is to specialize,” Munger said. While some companies tend to focus on investing in stocks that fall under the same sector, Berkshire Hathaway has shied away from that.
- USA TODAY•yesterday
Which states have the highest and lowest property taxes?
How much you pay in property taxes often comes down to which side of a county, city or district line you're on. And if you're a homebuyer this spring, it's another important factor to consider while you house hunt. Property taxes largely fund public schools but also other local services like roads and police.
- CNBC•12 hours ago
Cramer calls Morgan Stanley's $10 worst-case scenario on Tesla stock 'really insane'
CNBC's Jim Cramer says Morgan Stanley cutting its worst-case forecast on Tesla so drastically from $97 per share appears to be a gimmick. CNBC's Jim Cramer on Tuesday said that Morgan Stanley MS cutting its worst-case forecast on Tesla TSLA from $97 per share to just $10 appears to be a gimmick. Morgan Stanley, in a research note Tuesday co-authored by Adam Jonas, said the bear call was based on demand concerns and exposure in China.
- Reuters•yesterday
SolGold in talks to finance long-life Ecuador copper project
SolGold is in talks with financiers keen to invest in its Ecuadorian copper-gold prospects and mining major BHP could increase its stake in the company, SolGold's chief executive said on Monday. In a preliminary economic assessment of the Alpala copper-silver-gold deposit in northern Ecuador released earlier, London-listed SolGold said annual copper output should be 207,000 tonnes for the first 25 years of a mine life of roughly half a century. Ecuador has attracted a flurry of interest from big miners eager to increase their exposure to copper.
- CNBC Videos•18 hours ago
Huawei ban will bring a 'sea change' to global supply chains: Researcher
Cliff Tan of MUFG Bank says the U.S. is targeting one or two specific firms such as Huawei — and if that leads to retaliation from China, it could be a "very huge" issue.
- InvestorPlace•8 hours ago
7 Safe Stocks to Buy for Anxious Investors
For the piece of your portfolio that's something in between speculative and pure buy-and-hold holdings though, now may be a good time to start thinking a little more defensively and a little less aggressively. Here's a rundown of seven names that may prove safer, counter-cyclical bets than the hot stocks that made the runup this year such a fun ride. Baby Boomer Stocks to Buy In no certain order: Microsoft (MSFT) For many investors, the knee-jerk assumption is that software giant Microsoft (NASDAQ:MSFT) is so inextricably linked to the all-important technology market that an economic swoon could easily up-end this well-known name.
- InvestorPlace•9 hours ago
Why the Outlook of AT&T Stock Just Became Brighter
AT&T (NYSE:T) stock has struggled over the past several years as the telecommunications giant has been weighed down by a plethora of headwinds, including cord-cutting, wireless price competition, stagnating streaming growth, and a rising debt load. Source: Shutterstock T stock peaked near $45 in mid-2016. Ever since, AT&T stock has been down and out. The proposed merger between wireless peers T-Mobile (NASDAQ:TMUS) and Sprint (NYSE:S) looks like it will receive regulatory approval after FCC Chairman Ajit Pai told Bloomberg that, in light of their recent concessions, he is going to recommend that his colleagues approve the merger.
- Fox Business•15 hours ago
Huawei founder: US government 'underestimated our power'
The growing animosity between Huawei Technologies and the U.S. government was inevitable and a sales ban imposed by the Trump administration will have no effect on the firm's plans, according to the founder of the Chinese telecommunications giant. Speaking to Chinese state media on Tuesday, Ren Zhengfei said there would be “conflict with the United States sooner or later” as Huawei seeks to grow its dominance in the global telecom industry. “We sacrificed [the interests of] individuals and families for the sake of an ideal, to stand at the top of the world,” he said according to a report in the South China Morning Post.
- Investopedia•yesterday
What Is a Silver Certificate Dollar Bill Worth Today? (SLW, SVM)
A silver certificate dollar bill is representative of a unique piece of history. It no longer carries any monetary value as an exchange for silver, yet collectors still seek out the print. Its history dates back to the 1860s, and the certificate is a unique historical artifact representing a time period when the monetary structure of the United States was changing.
- Fortune•10 hours ago
What Killed Jamie Oliver's Restaurant Chain?
Following a couple years of serious financial difficulties, the restaurant empire of British celebrity chef Jamie Oliver may have reached the end of its road—the latest victim of an ongoing, partly Brexit-related shakeout in the U.K.'s casual dining sector. The Jamie Oliver Restaurant Group said Tuesday that it had gone into administration, with KPMG's insolvency team taking over. Most of its locations are closing immediately, taking more than 1,000 jobs with them.
- Bloomberg•yesterday
Ex-Credit Suisse Banker Pleads Guilty in $2 Billion Mozambique Scam
An ex-Credit Suisse Group AG banker became the first person to plead guilty in what U.S. prosecutors called a $2 billion fraud and money-laundering scam tied to loans to Mozambique that were used to pay bribes and kickbacks. Detelina Subeva, 37, a former vice president in the bank's global financing unit, pleaded guilty on Monday to one count of conspiracy to launder funds. The U.S. agreed to drop three other conspiracy charges against Subeva, who's one of three Credit Suisse bankers accused of working with Mozambique's ex-finance minister in a secret kickback scheme.
- Fox Business•yesterday
Mega Millions $367M jackpot carries substantial tax bill
An individual with a winning ticket is faced with two options – either take the money in the form of a lump sum or an annuity payment – which would be paid out over the course of about 30 years. In the case of the annuity payment – the less common option – a winner would receive one immediate payment and 29 consecutive ones. The amount paid increases by 5 percent each year, according to K. Eli Akhavan, partner and chair of the Private Client and Wealth Preservation Group at CKR Law.
Bloomberg•4 hours agoBad Weather and Trump's Trade War Spawn Dilemma for U.S. Farmers
Clay Govier reckons he'll be kept out of his fields through the Memorial Day weekend as a torrent of rain drenches farms across the U.S. Midwest and Great Plains. While that may give Govier an unwanted break from fieldwork, the U.S. farmer will be kept busy by a dilemma: He has to consider whether it would prove more profitable to grow corn or switch to soybean once the downpour abates. Or plant nothing at all and make an insurance claim for his troubles.
- CNBC•4 hours ago
Novartis CEO calls for fixing 'distortions' in health care system ahead of slate of drug launches
"It's a pretty exciting moment because I can't remember a time at Novartis where year after year after year we have these significant medicines getting launched," Novartis CEO Vasant Narasimhan says. When you look at these launches, they happen across therapeutic areas as well as across technologies," he tells Jim Cramer. "What I believe is we should fix some of the distortions in the [health care] system.
- American City Business Journals•8 hours ago
Analyst: Apple tried to buy Tesla in 2013 for $240 per share
Apple Inc. quietly explored buying Tesla Inc. in 2013 for $240 per share, but the deal fell apart after the Cupertino-based company insisted that Tesla CEO Elon Musk step away from day-to-day operations, Roth Capital Partners analyst Craig Irwin told CNBC. Apple bid for Tesla.
- Investopedia•2 hours ago
Wall Street Wonders if Trump Is Bluffing
Just as quickly as the Trump administration imposed trade restrictions against Huawei last week, it has removed them – at least temporarily – this week. Traders learned last night that the Trump administration has granted Huawei a reprieve from its trade restrictions until Aug. 19. AutoZone, Inc. (AZO), DISH Network Corporation (DISH) and Xilinx, Inc. (XLNX) were the top performers in the S&P 500 – with gains of 5.57%, 5.29% and 4.63%, respectively – but they weren't the only stocks enjoying buying pressure today.
- Investopedia•11 hours ago
How Is Your 401(k) Taxed When You Retire?
As with other income, distributions from traditional 401(k) and traditional IRA accounts are taxed on an incremental basis, with steadily higher rates for progressively higher tiers of income. As of the 2018 tax year, rates were reduced by the Tax Cuts and Jobs Act of 2017; however, the basic structure, comprising seven tax brackets, remains intact. For example, a married couple that files jointly and together earns $80,000 would pay 10% tax on the first $13,600 of income, 12% on the next $38,200, and 22% on the remaining $28,200.
