- S&P 5002,900.51-0.79%
- Dow 3025,962.44-0.66%
- Nasdaq7,948.56-0.68%
- Russell 20001,498.01-0.72%
- Crude Oil56.18-0.28%
- Gold1,510.00-0.38%
- Silver17.02-0.75%
- EUR/USD1.1094-0.1220%
- 10-Yr Bond1.5610-2.32%
- Vix17.50+3.67%
- GBP/USD1.2139-0.2173%
- USD/JPY106.5770+0.3106%
- BTC-USD10,189.08-5.40%
- FTSE 1007,148.56+0.33%
- Nikkei 22520,618.57-0.28%
- USA TODAY
401(k), IRA millionaires at Fidelity surpass record highs in the second quarter
The ranks of 401(k) and IRA millionaires again hit a record high in the second quarter at Fidelity Investments after stocks fully recovered from their losses suffered at the end of 2018. The number of investors with at least $1 million in their 401(k) accounts rose to 196,000 at the end of the second quarter, up from 180,000 the previous quarter and surpassing the previous record of 187,400 reached in the third quarter of 2018, according to Fidelity. The tally of IRA millionaires increased to 179,700 from 168,100 in the first quarter.
- Bloomberg
Livestock Markets Jolted by Tyson Beef Plant Fire
The Tyson Foods Inc. plant in Holcomb, Kansas, had the capacity to slaughter 6,000 head a day of cattle -- or about 5% of U.S. beef production capacity -- before it was destroyed on Aug. 9. With the Labor Day holiday -- one of the most-popular days in the U.S. for grilling beef -- coming up on Sept. 2, retailers are engaging in bidding wars to secure packaged meat for store promotions they've already committed to.
- MarketWatch
Scansource to sell off certain businesses outside of the U.S., Canada and Brazil
Scansource Inc. (scsc) said Tuesday it has started plans to sell certain businesses outside of the U.S., Canada and Brazil, as part of its efforts to align investments with higher growth and margin businesses. The company, provides point-of-sale, data capture and electronic physical security technologies, said the planned divestitures includes its non-digital distribution businesses in Europe, the U.K., Mexico, Columbia, Chile, Peru and the Miami-based export operations, with a combined net sales of $623 million for fiscal 2019. Scansource said it currently has 490 employees in the regions in which divestitures were planned.
- 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.
- MarketWatch
Kyle Bass on where the global economy is headed: ‘This is insane’
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.
- Reuters
Juul raises $325 million in equity and debt financing for global expansion
The company did not break out the ratio of equity and debt offered, but a source familiar with the matter told Reuters that Juul sold convertible debt in a bridge financing to bolster its balance sheet. Juul, 35% owned by Marlboro maker Altria Group Inc, has over the past year focused its efforts on growing outside the United States, as American regulators increase oversight of e-cigarette products that are wildly popular among teenagers. The company launched its products in South Korea, Philippines and Indonesia at around the same time the city of San Francisco, where Juul is headquartered, approved an ordinance to ban the sale and distribution of e-cigarettes until manufacturers get approval from the U.S. Food and Drug Administration.
- TheStreet.com
[video]Nvidia's Earnings Were Solid, but There Are Still Reasons to Be Cautious
Nvidia posted strong results last week for its July quarter, sending its shares significantly higher. Nvidia posted revenue of $2.58 billion, ahead of estimates of $2.55 billion, while adjusted earnings per share were $1.24 versus estimates of $1.15. The better-than-expected results were partly driven by stronger-than-expected gaming revenue, while data center revenue -- currently an area of heavy scrutiny across the semiconductor space -- missed the mark.
- Investopedia
High-Dividend Stocks on Historic Discount as Yields Plunge, says Goldman
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.
- Bloomberg
China Taking a Much Longer-Term Strategic View of Trade, Says Hao Capital’s Liu
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. ” SEO Headline: Hao Capital Founder Charles Liu on U.S.-China Trade War, Huawei, Negotiations
- Investor's Business Daily
Dow Jones Aims For 4th Straight Gain As These 4 Growth Stocks Show A Bullish Turn
The Dow Jones Industrial Average is preserving a 796-point gain from last week's low of 25,339 and making a bullish reversal after falling mildly in current stock market action Tuesday. Meanwhile, top growth stocks continue to generally show a wider range of industry participation as more Chinese companies trading on the U.S. markets perk up. China cram school leader New Oriental Education, IBD Big Cap 20 leader Twitter, Paysign and IBD 50 member MasTec are demonstrating current leadership in the wake of the latest market signal that a new confirmed uptrend in stocks is possibly underway.
- MarketWatch
Lumber Liquidators gets new CFO from Pier 1
Lumber Liquidators Holdings Inc. ll) said Monday that Nancy A. Walsh has been named its chief financial officer, effective Sept. Walsh replaces interim CFO Timothy Mulvaney, who will return to his role as chief accounting officer.
- Bloomberg
Denmark’s Jyske Bank Sets Negative-Rate Mortgage Milestone
Jyske Bank A/S, Denmark's third-largest lender, announced in August a mortgage rate of -0.5%, before fees. Mikkel Hoegh, Jyske Realkredit housing economist, explains the dynamics behind the offering on "Bloomberg Markets: European Close."
- The Basis Point
Household Debt—How Much Money Does Everybody Owe? Q2 2019 Edition
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.
- Bloomberg
China Rate Reform Throws Focus on What’s Next to Aid Economy
While that step itself should already nudge borrowing costs a few basis points lower, analysts say that outright cuts to monetary policy tools are still needed. Even though China's economy is slowing to its weakest pace in almost thirty years, the government remains focused on stability rather than speed amid the broadening confrontation with the U.S. That means PBOC officials are sounding reluctant to roll out the big stimulus guns: monetary-policy department head Sun Guofeng said Tuesday that there's “not too much” room to further cut banks' reserve ratios.
- MarketWatch
The investing opportunity of a lifetime awaits us when the recession arrives
All these are just one downgrade away from being high-yield “junk bonds.” The best data I can find shows that there are roughly $3 trillion worth of BBB bonds and another roughly $1 trillion worth of lower-rated bonds that would still be called “high-yield.” If it happens like last time, the ratings agencies will wait until their fate is already sealed before they cut ratings on these zombies. This is a structural problem with mutual funds and ETFs. When the recession hits, we will see junk bonds — and the riskier end of corporate debt generally — go into surplus.
- InvestorPlace
Trump Blocks Tech Merger to Stimulate 5G Leadership
Now we're shifting to the fifth generation of wireless networks – 5G. And it represents the largest leap in wireless technology to date. A Leap Forward The current 4G networks are a disappointment. They're much slower than what the original developers thought the networks would deliver.
- Yahoo Finance
CEO: ‘The true disruption of retail banking is coming’
The co-founder and CEO of Europe's biggest fintech startup believes that the world is standing on the precipice of a “true disruption” in retail banking. “I believe that in the next couple of years, the true disruption of retail banking is coming,” Klarna CEO Sebastian Siemiatkowski said in interview with Yahoo Finance's On The Move. The Swedish firm offers buy now, pay later options that allow people with little-to-no credit history to purchase items by borrowing money from the startup at no interest and then slicing up their repayments into four installments.
- Fox Business
Warren Buffett's Berkshire Hathaway seeks 'elephant-sized acquisition': Here are some options
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.
- MarketWatch
How one millennial managed to save almost $1 million in 10 years without ever earning a salary of more than $75,000
FIRE refers to the “financial independence, retire early” movement bubbling up in the younger generation these days as a pathway out of the grind — slash expenses, save a bundle and enjoy the freedom that approach ultimately allows. Using the name FluffayPenguin, one anonymous thirtysomething took to Reddit to illustrate his FIRE blueprint, which allowed him to graduate college in 2008 and build a small chunk of change all the way up to $930,000 in savings. Well, for starters, he lived at home half of that time, a choice many millennials are making as housing costs skyrocket.
- TipRanks
3 “Strong Buy” Stocks Poised to Soar in the Next 12 Months
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.
- Investing.com
U.S. Dollar Flat; Euro Also Little Changed as Italy’s PM quits
The U.S. dollar was near flat on Wednesday in Asia, while the Euro was also largely unchanged as Italy's Prime Minister quit. A gathering of central bankers at Jackson Hole, Wyoming and a speech by Federal Reserve Chairman Jerome Powell are expected to be major directional drivers for the U.S. currency. The euro was also near flat after Italy's Prime Minister Giuseppe Conte said he is resigning ahead of no-confidence vote.
- FX Empire
GBP/USD Price Forecast – British pound continues to soften
The British pound broke down a bit during the session on Tuesday, breaking down below the Monday session and driving towards the 1.2050 level. At this point, there seems to be a lot of resistance at the 1.22 handle and I think the market is going to continue to struggle. That being said, the 1.2250 level is an area that also makes quite a bit of resistance.
- 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.
- InvestorPlace
3 Tech Stocks to Avoid (or Sell) for Now
Cyclical Stocks to Buy (or Sell) Now Investors may consider waiting on the sidelines if they do not currently have any positions open in these tech stocks. If they already own shares, they may either consider taking some money off the table during this market bounce or hedging their positions. As for hedging strategies, covered calls or put spreads with Sep 20 expiry could be appropriate as straight put purchases are likely to be expensive due to heightened volatility.
- InvestorPlace
The 10 Best Cheap Stocks to Buy Right Now
With CBS stock priced at only 5.4 times this year's expected earnings though, the company would also make for a dirt-cheap entry or expansion into the entertainment industry. Air Lease (AL) Air Lease (NYSE:AL) relies on at least a decent economy to drive demand for passenger jets, and recently, investors have seen what they think are too many red flags. Take a closer look at all the data, though, and matters aren't as dire as they may seem.
