- S&P 5002,924.43+0.82%
- Dow 3026,202.73+0.93%
- Nasdaq8,020.21+0.90%
- Russell 20001,509.85+0.79%
- Crude Oil56.00+0.57%
- Gold1,512.70-0.20%
- Silver17.12-0.18%
- EUR/USD1.1094-0.0000%
- 10-Yr Bond1.5770+1.02%
- Vix15.80-9.71%
- GBP/USD1.2130-0.0000%
- USD/JPY106.5700-0.0159%
- BTC-USD10,075.07-6.46%
- FTSE 1007,203.97+1.11%
- Nikkei 22520,618.57-0.28%
- Bloomberg
Rosneft Profit Suffers From Pipeline Incident, Weaker Oil
Rosneft PJSC's second-quarter net income fell as the Russian giant suffered the effects of weaker oil prices and production cuts, but the decline was less severe than analysts expected. While the results show the impact on Rosneft of the Druzhba crisis, in which millions of barrels of exports to central Europe via the Soviet-era pipeline were contaminated with chemicals, shares rose as investors eyed the company's pledged payout. “Rosneft shares are growing on the dividend recommendation for the first half of the year, which turned out higher than expected,” Angelina Glazova, an oil and gas analyst at Atonline Ltd., said by phone.
- Reuters
Mali's new mining code ends tax exemptions, other protections
Mining companies operating in Mali will no longer be exempt from VAT during production and will have a shorter period of protection from fiscal changes, according to a new mining code announced by the Mines Ministry on Wednesday. The new code seeks to redress the "shortcomings" of a 2012 law by bringing a "substantial increase" in the contribution of the mining sector to the economy, the Mines Ministry said in a statement. But it contains some clauses that international mining companies have strongly opposed elsewhere in Africa, most notably in the Democratic Republic of Congo where companies have been at loggerheads with government.
- MarketWatch
Dow books 240-point gain as bond-market recession signal flashes after Fed minutes
The Dow Jones Industrial Average (DJIA) rose 240.29 points, or 0.9%, to 26,202.73, the S&P 500 index (SPX) climbed 23.92 points, or 0.8%, to 2,924.43, while the Nasdaq Composite Index (COMP) climbed 71.65 points, or 0.9%, to 8,020.21. The minutes of the Fed's July meeting showed policy makers believed that “it was important to maintain optionality in setting policy.” The rate-setting Federal Open Market Committee voted 8 to 2 to lower its target for short-term interest rates by 25 basis points to 2%-2.25%, marking its first such rate reduction in more than a decade. Most Fed members who supported the rate cut agreed with Fed Chairman Jerome Powell's assessment that it was a “mid-cycle adjustment” and thus not the start of an aggressive monetary easing campaign.
- Bloomberg
How I Learned to Stop Worrying and Love the Deficit
In its report, the CBO estimates that increased spending will add roughly $1.9 trillion to the national debt over the next 10 years, while lower tax revenue will add nearly $300 billion. So the cumulative deficit over the next decade will grow from $12.3 to $14.5 trillion. However — and here is where things get weird — that increase is partially offset by a $1.3 trillion reduction in projected interest costs, bringing the estimate of the overall debt to $13.2 trillion.
- Refinery29
I Make $200,000 As A Physician & I Took Out $400,000 In Student Loans
Did you have to take out student loans? All of my loans came from medical school, which is a little over $400,000. "Right after college, I went to medical school, and following medical school I was in residency for three years.
- MarketWatch
What retirement crisis? Number of 401(k) and IRA millionaires hits record high
Indeed, the number of 401(k) and IRA millionaires hit a record high at the end of the second quarter, Fidelity found. The number of people with $1 million or more in their 401(k) increased to a record 196,000, up from 180,000 at the end of Q1, while the number of IRA millionaires increased to 179,700, also a record high and an increase from 168,100 last quarter,” the report revealed. What's more, employee savings rates hit a record high, with 32% of savers increasing their contributions in the second quarter of this year.
- InvestorPlace
Dow Stock a Downer Until Tariff Talk Subsides
Chemicals maker Dow (NYSE:DOW) is the smallest member of the Dow Jones Industrial Average (DJIA) by market value. While Michigan-based Dow operates in a stodgy industry (chemicals) and probably should be seen as a value name rather than a growth stock, it's a cyclical stock, meaning it's likely not an appropriate holding for conservative investors in the current market environment. Year-to-date, Dow stock is one of just seven members of the DJIA that are in the red and one of just four with 2019 losses of 10% or more.
- Investor's Business Daily Video
How Much Mortgage Can You Afford In The 25 Priciest U.S. Markets?
Are you wondering: How much mortgage can I afford? In some markets, you better be able to pay for a big one, or you'll be shut out. Fortunately, there are tricks you can use to increase the size of your answer when you ask yourself how much mortgage you can afford.
- InvestorPlace
Kroger Express: Kroger and Walgreens Partnership to Expand This Fall
Kroger (NYSE:KR) and Walgreens (NASDAQ:WBA) are going to expand the pilot of Kroger Express to include locations in Knoxville, Tenn. This expansion will have 35 Walgreens stores in the area begin carrying Kroger's Our Brands products. According to a news release detailing the expanding Kroger and Walgreens partnership, many of these stores will offer roughly 2,700 products from Kroger.
- American City Business Journals
New survey shows customers are less happy with their cars – here's how Honda fared
The auto industry isn't just dealing with sales declines — car owners are less pleased as well. The annual Automobile Report from the American Customer Satisfaction Index Tuesday reported a 3.7% decline in customer satisfaction in 2019 for an industry-wide score of 79 on its 0 to 100 scale. For mass-market vehicles, consumers gave brands lower marks across all areas except vehicle comfort, which was the only aspect to hold stable.
- MarketWatch
Job hunting in America: The No. 1 highest paid, most in-demand job in every state
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.
- InvestorPlace
10 Marijuana Stocks That Could See 100% Gains, If Not More
But, with the marijuana industry having only scratched the surface of what it can be, and likely will be, there's little doubt that at least some of these names could double their current values. The 10 Best Marijuana Stocks to Buy Now Here's a rundown of the top ten cannabis stocks most likely to dish out a triple-digit gain, sooner or later. Canopy Growth (CGC) It's arguably the name that started cannabis-mania, as Canopy Growth (NYSE:CGC) was the first name to attract a major partner's money.
- Bloomberg
Mobius: Should Be Buying Gold on Any Level
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.
- Yahoo Finance
Obama was better for your 401(k) than Trump has been
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.
- InvestorPlace
10 Stocks That Every 30-Year-Old Should Buy and Hold Forever
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.
- U.S.News & World Report
9 Safe Dividend Stocks to Buy for 2019
Companies with relatively low payout ratios -- the percentage of earnings committed to dividend payments -- were viewed as the safest dividend stocks to buy for 2019. To date, none has portfolio-destroying or home run quality returns, fulfilling their duty as sources of relative stability. Here's a look at nine safe dividend stocks CFRA said were smart long-term investments headed into 2019, and how they're holding up year-to-date.
- MarketWatch
Bank of America’s CEO has one simple reason why he doesn’t see a recession looming
Bank of America Corp.'s CEO Brian Moynihan says he doesn't see a recession in the offing because the U.S. consumer remains healthy. The dispute, centered on import duties, has raised the chances that a recession could grip the domestic economy soon, elevating anxieties in financial markets. The U.S. 2-year Treasury note yield (BX:TMUBMUSD02Y) briefly traded above the 10-year Treasury note yield (BX:TMUBMUSD10Y) for the first time in over a decade (and it occurred briefly on Wednesday), a condition that has preceded the last seven recessions.
- USA TODAY
What happens when an older employee can no longer perform effectively? Ask HR
In this case, an employee takes on a less-demanding job or works part time to transition to retirement. Be aware that when a worker is unable to meet the fundamental duties of a job, a company is not required to make an accommodation. An employer can request that an employee complete a fitness-for-duty evaluation, which determines a person's abilities to safely perform the essential functions of a job without posing a threat to him or herself or others.
- MarketWatch
Splunk stock rallies on earnings beat, acquisition
Splunk Inc. (splk) shares rallied in the extended session Wednesday after the cybersecurity company topped Wall Street estimates for the quarter and announced a big acquisition. Splunk said it expects third-quarter revenue of about $600 million, and full-year revenue of about $2.3 billion, up from a previous forecast of about $2.25 billion. Splunk expects the acquisition to close in the second half of fiscal 2020, which ends in January.
- MarketWatch
U.S. created 500,000 fewer jobs since 2018 than previously reported, new figures show
Turns out hiring wasn't nearly as strong in 2018 and early 2019 as the government initially reported — by about a half-million jobs. The economy had about 501,000 fewer jobs as of March 2019 than the Bureau of Labor Statistics initially calculated in its survey of business establishments. The newly revised figures indicate the economy didn't get a huge boost last year from President Trump's tax cuts and higher federal spending.
- MarketWatch
Nearly 2 years into early retirement, here’s all that I’ve gotten wrong
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.
- TipRanks
Buy Dividend Stocks, says Goldman Sachs
Instead, we'll focus on a recent comment from Goldman Sachs analyst David Kostin, who in a succinct observation pointed out a more immediate problem and a possible solution for return-minded investors: “With the 10-year Treasury yield at just 1.5% and the Fed likely to cut two more times this year, investors should look for opportunities in dividend stocks.” A move toward high-paying dividend stocks would give investors an alternative to lower bond yields, as well as a cushion against lower share price gains. Goldman has a basket of such stocks. AT&T has been persistently cheap since the Great Recession of 2008.
- Investor's Business Daily
After 33% Rise, Can Large-Cap IBD 50 Member Copart Stock Motor Higher?
Copart, a leader in salvaged vehicle auctions, managed to recover from the bear market in Q4, and motor ahead to a solid 33% gain. Copart holds the No. 1 rank among the No. 67-ranking auto parts industry group with a 97 Composite Rating. As one of the top growth stocks to watch, you'll also find Copart stock on the IBD 50 and IBD Big Cap 20 screens. Copart is also currently on the Leaders Watch List on Leaderboard, IBD's premier chart analysis service offering timely buy and sell alerts.
- MarketWatch
10 mistakes nearly everyone makes when saving for retirement
Here's why this is a critical time: If you're 10 years out, or even five, you have time to do some course corrections that will make a difference — but you don't have time to waste. Based on my observations from talking with thousands of investors over many decades, let's look at 10 errors, each of them far too common. People approach retirement without a coherent, organized plan.
- MarketWatch
Victoria's Secret parent L Brand stock falls after mixed Q2, lower guidance
L Brands Inc. (lb) shares fell more than 3% in the extended session Wednesday after the parent company of Victoria's Secret missed expectations for its second-quarter earnings and called for worse-than-expected third-quarter results. L Brands said it earned $38 million, or 14 cents a share, in the second quarter, compared with $99 million, or 36 cents a share, in the year-ago period. L Brands kept its full-year 2019 EPS guidance of $2.30 to $2.60.
