The cryptocurrency experts, who clearly didn’t see this coming, are blaming all sorts of temporary culprits — from jittery markets to “hard forks” (blockchain jargon for radical technical changes in a digital currency). Bitcoin was meant to make all of its investors rich, something that held particular appeal to a millennial generation hungry for a financial boost in a world of crushing student debt, income inequality and low-quality jobs.
Investors looking for solace amid the wave of market sell-offs may argue that the S&P 500 has fallen only 9% from its all-time highs in September, hardly a devastating decline. “Not only does the price action this year suggest we are in the midst of a bear market—more than 40 percent of the stocks in the S&P 500 are down at least 20 percent—but it also trades like a bear market,” wrote the bank’s analysts.
Shares of Johnson & Johnson (jnj) fell 3.3% in afternoon trade, enough to pace declines among its health care peers and among the Dow Jones Industrial Average's (djia) components, after reports that an appeals court ruled that J&J can't block sales of generic Zytiga while the company appeals the overturning of a Zytiga patent. In J&J's third-quarter ended Sept. 30, Zytiga sales rose 43.2% from a year ago to $958 million, making it the company's third-highest selling drug. Jennifer Taubert, worldwide chairman of pharmaceuticals at J&J, said in the company's post-earnings conference call with analysts while the company was "pleased" with Zytiga, "we're absolutely not dependent on it," according to a transcript provided by FactSet.
On a brutal day in the stock markets the last thing investors want to see is another attack on the Federal Reserve by President Donald Trump. Trump reportedly told a group of reporters on Tuesday that he would like to see lower interest rates from the Federal Reserve. The president added that the biggest problem right now isn’t the trade war with China (among other geopolitical issues), but rather the Jerome Powell led Federal Reserve.
J. C. Penney Company, Inc. ( JCP) shareholders initially shook off Sears Holdings' Oct. 15 bankruptcy filing, but the imperiled stock has continued to lose ground into Black Friday week, dropping to the lowest low since at least the 1960s. The retailer's better-positioned rivals have also missed quarterly numbers in the past few weeks, raising concerns about an industry slowdown at the same time that China tariffs could ramp up to 25%. This reliquification suggests that stores will remain open in coming years, despite the dark cloud generated by Sears' descent into oblivion.
With tech stocks looking like an increasingly risky bet, analysts have been getting more bullish on some key defensive names. Here we use TipRanks' Trending Stocks tool to pinpoint the best-rated defensive stocks right now. All five stocks covered below have received only buy ratings from top analysts in the last three months.
INCOMEINVESTING BLOG Holiday rebound. Credit markets gained a bit on Wednesday, following eight consecutive days of corporate credit declines. The exchange-traded fund (HYG) rose 0.7% in morning trading but is still down 0.3% over
Soros Fund Management, which Soros founded and chairs, exited social-network giant (FB) (FB) completely in the third quarter, while also slashing positions in (NFLX) stock (NFLX) and (GS) stock (GS). High-flying streaming-content giant Netflix has tumbled almost 29% since the end of September. Soros saved a chunk of cash by selling: Barron’s estimates that, had he maintained positions in those stocks, he would have unrealized losses of about $17.7 million so far in the fourth quarter.
Lewis Piantedosi, Eaton Vance portfolio manager, and Whitney Tilson, Kase Learning founder, discuss their take on Facebook's stock as CEO Mark Zuckerberg sits down for an interview with CNN.
For weeks now, reports have trickled out that Apple is having trouble with iPhone XR demand. Analysts and other Apple watchers frequently parse through the tea leaves left by Apple suppliers and assemblers throughout the supply chain, and the Wall Street Journal wrote on Monday that that Apple slashed production plans by a third from the 70 million or so units it had been expecting to produce between September and February with its suppliers. At the same time, however, the iPhone 8 — and 8 Plus — have been experiencing strong demand, according to a report from the Nikkei Asian Review.
Since March, President Donald Trump’s tough stance on fair trade practices has evaporated more than $1 trillion in market value. Such a drastic impact exponentially raises interest in safe dividend stocks to buy. Love him or hate him, we can all agree that Trump doesn’t have a conciliatory personality.
CNBC's Jim Cramer pinpoints the 10 drivers of the stock market's sell-off. Ten things need to change for the stock market to come back from its Monday declines , CNBC's Jim Cramer said as high-profile technology stocks Facebook FB and Apple AAPL led the major averages lower. Here are the various reasons that stocks are falling and what it would take for them to turn, according to Cramer: 1.
As the market grows increasingly turbulent and economic outlooks become more cautious, investors are increasingly buying quality stocks, which by definition are stocks whose companies are not overly reliant on a robust economy for their performance. In the current environment, Walmart Inc. ( WMT), McDonald’s Corp. ( MCD), Pfizer Inc. ( PFE), Procter & Gamble Co. ( PG) and Amgen Inc. ( AMGN) have all received the quality stamp of approval by Citigroup, according to CNBC.
"We think there are a lot of great buys here we would be buying if you have a 6- to 12-month" timeline, says David Katz, CIO of Matrix Asset Advisors. Katz says eBay, Schlumberger and Alphabet are buying opportunities. The market sell-off has created a buying opportunity for investors who can afford to be a little patient, noted value investor David Katz told CNBC on Tuesday.
The United States and China clashed on Wednesday at a World Trade Organization meeting with a U.S. envoy accusing Beijing of using the WTO to pursue "non-market" policies and a Chinese official saying it was Washington that was flouting the rulebook. U.S. President Donald Trump has outraged U.S. trading partners by erecting a tariff wall against imports of steel and aluminum - justified by U.S. national security concerns - and has hit Chinese goods with huge tariffs over accusations of stealing U.S. intellectual property.
Mike Wilson, Morgan Stanley, says this isn't a buy the dip market. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Pete Najarian, Dan Nathan and Guy Adami.
In his "No-Huddle Offense" segment of Mad Money Tuesday night, Jim Cramer reminded viewers that while dividends are a safe place to hide, only safe dividends are where you want to be. In the daily bar chart of CTL, below, we can see that earlier this month prices gapped below the cresting 200-day moving average line. The volume pattern shows that volume has increased on a number of the declines the past three months, which is bearish but the On-Balance-Volume (OBV) line has yet to turn decisively lower.
Target, which is still up substantially this year, is no General Electric (GE) sorting through underperforming businesses and realizing that it wasted so much money on stock buybacks that the ex-icon of America’s Industrial Might has a negative tangible book value. Or, put it this way: How much sense did it make when the market’s reaction to a weak report on home-builder sentiment and foot traffic at new-home communities was to sell off technology stocks? Julius was Julius Westheimer, who in my own misspent youth was a Baltimore stockbroker and denizen of the Baltimore Sun, where he was a columnist to my cub reporter, and a regular on Wall $treet Week, a public-TV stock-market show produced at Maryland Public TV.
A homebuilder survey this week indicated the housing market is slowing further amid the highest mortgage rates in eight years, a possible warning sign for the broader economy. “I’d like to see the Fed with a lower interest rate,” Trump told reporters in Washington. The Fed held borrowing costs steady at its meeting earlier this month but investors expect it to raise rates in December, which would mark the fourth hike since Trump-appointed Jerome Powell became chairman in February.
There are plenty of things that can ruin a person’s retirement plans — divorce, illness, job loss, overspending. A recent study has revealed for the first time the 10 biggest causes of financial regret among those who have retired or are near to retirement. The survey was conducted by researchers from the RAND Corporation and the Max Planck Institute in Munich, Germany.
Swing low, Boeing . The name now stirs images of extreme volatility, having just surrendered almost all of the stock's 2018 performance. To be honest, I no longer have a position in this one. I don't like trouble. When that Lion Air 737 Max crashed
The sell-off that started in October is not the end of the bull market and investors should continue to fight the urge to overreact to negative headlines, wrote Darrell Cronk, president of the bank’s Investment Institute and team, in a note to clients Tuesday. “We view now as a time to be ready to increase equity exposure in favorable areas, such as U.S. large-cap, U.S. mid-cap and emerging-market equities, and favor deploying cash now or even allocating incrementally over the coming days and weeks,” the strategists said. A slump in U.S. technology stocks, emerging signs of stress in the corporate credit market and diminishing hopes for a resolution to the ongoing Sino-American trade dispute have renewed last month’s sell-off in global equity benchmarks.
Elon Musk, the Tesla and Boring Company CEO, is following through on his vow to sell “Lego-like” bricks. Musk has launched The Brick Store LLC, an offshoot of The Boring Company that will produce interlocking bricks made from dirt displaced from the tunnel-digging company’s machines. The new company filed a permit application in Hawthorne, California, asking permission to repaint a building that will serve as the Brick Store’s first brick-and-mortar location, TechCrunch reported.
Google poured resources into its cloud unit during Diane Greene's three-year run at the helm, but the company has still struggled against Amazon and Microsoft. Greene clashed with Google CEO Sundar Pichai over a big cloud contract with the Department of Defense. Thomas Kurian, a former Oracle executive, has been named as Greene's successor.
Chipotle said Monday that the company has offered a fired St. Paul restaurant manager her job back after receiving more information about an incident where employees refused to serve five black men and asked them to prove they could pay before taking their order. "We will work to continue to ensure that we support a respectful workplace for our employees and our customers alike," Chipotle said. Employees accused the men of being repeat dine-and-dashers.