Asian shares ticked higher on Monday as investors cheered an announced trade agreement between Beijing and Washington over the weekend although jubilation was capped by prevailing scepticism about the deal. U.S. Trade Representative Robert Lighthizer on Sunday said a deal was "totally done", notwithstanding some needed revisions, and would nearly double U.S. exports to China over the next two years. The small drop in Japanese shares also reflected continued investor trepidation over the specifics of the trade deal.
International Flavors and Fragrances is merging with DuPont’s Nutrition and Biosciences unit in a $26.2 billion deal that would form a new company.
FEATURES - MAIN U.S. stocks are ending the year on a high note. The S&P 500 index boasts a total return of 29% year to date—a great showing in the 11th year of an extraordinary bull market. With stocks near record highs, where can investors turn for 2020? Barron’s has identified 10 top stocks for the coming year, as it has every December for the past decade.
Futures: The China trade deal is good news for the stock market rally. But which groups will join Apple, and chip stocks like AMD as market leaders?
The question of how much can we earn without paying federal income taxes is relatively easy to answer for most people. The standard deduction for a married couple is $24,400 in 2019 (if both are under 65 years old), and the top of the 0% capital-gains tax bracket is $78,750. With our daughter, we also qualify for the child tax credit ($2,000), so we could actually generate another $13,333 per year in dividends or capital gains, taxed at 15%.
“All over the world, markets are falling love. Buy it. Buy it all,” Chris Rupkey, chief financial economist at MUFG tells clients.
Buy equities, add U.S. agriculture and hedge against the 2020 U.S. presidential election — three of JP Morgan’s top trade picks for the year ahead.
DEEP DIVE U.S. stocks with attractive dividend yields have performed very well this year, for obvious reasons: Interest rates have declined at home and investors in Europe and Japan — where government and central-bank policies have pushed bond yields well into the negative — are desperate to find investments that will give them income.
Under terms of the agreement, DuPont shareholders will own 55.4% of the shares of the new company and existing IFF shareholders will own 44.6%, IFF said in a statement. Industrial materials maker DuPont will also receive a one-time cash payment of $7.3 billion upon closing of the deal, IFF added. Ireland's Kerry Group was also negotiating with DuPont for its nutrition unit, Bloomberg had previously reported.
Workers who diligently put away money from their paycheck into a 401(k) retirement plan expect that acting responsibly will provide greater financial security in old age. Read about this troubling reality for American workers, and don’t miss a report about how women can get the investment advice they want. Then, check out tips for managing a 529 college-savings plan, and learn about a contrarian stock investing strategy where one year’s losers are the next year’s winners.
Battered by company-specific issues, both are trading near multiyear lows. But two Occidental directors and one Chesapeake director recently bought up shares.
The best tech stocks to buy and watch are strong price performers with healthy fundamentals, thanks to a new product or service that's driving growth.
DEEP DIVE (This is the first in a three-part series listing highly rated stocks that sell-side analysts expect to rise the most over the next 12 months. This article covers large-cap stocks. Part 2 covers mid-cap stocks and part 3 covers small-caps.
Using recent actions and grades from TheStreet's Quant Ratings and layering on technical analysis of the charts of those stocks, Trifecta Stocks identifies five names each Friday that look bearish. While we will not be weighing in with fundamental analysis we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Textron Inc. recently was downgraded to Hold with a C+ rating by TheStreet's Quant Ratings.
These places promise that you'll keep more of your paycheck.
(Bloomberg) -- U.S. lawmakers led by Senate Finance Committee Chairman Charles Grassley are negotiating a potential revival of expired tax breaks in last-minute negotiations over a government spending bill.The talks, which were held on Saturday, are focused on reinstating the so-called tax extenders, a move that could be a boon to the biofuel, alcoholic beverage and short-line railroad industries that were hoping to see renewal of valuable credits and deductions, according to a person familiar with the discussions.“Chairman Grassley has been leading bicameral negotiations on tax extenders and is working to make sure they are included in the year-end appropriations package,” Michael Zona, a spokesman for Grassley, said Saturday in a email. “Dropping tax extenders like biodiesel would be a major setback and may push more plants that employ thousands of Americans toward bankruptcy.”The negotiations are taking place as the House and Senate seek to strike a deal that would fund the government before the current stopgap package expires on Friday. The tax breaks lapsed at the end of 2017. Since then, businesses have been expecting Congress to retroactively extend the benefits as lawmakers have repeatedly done in years past. So far, no relief has materialized.The talks present a particularly acute boost to the biodiesel sector -- including Archer-Daniels-Midland Co. and Renewable Energy Group Inc. -- which is advocating for a retroactive extension of a $1 per gallon tax credit for biodiesel. Several plants have begun slashing production and laying off workers as a result of the two-year lapse of the tax credit.It also could also buoy tax breaks for those thinking of buying electric cars from General Motors Co. and Tesla Inc., which had been lobbying for an extension of a lucrative consumer tax credit for electric vehicle purchases. The $7,500 credit is still in effect, but Congress has capped the number of credits at 200,000 for each manufacturer. Both GM and Tesla have already reached the threshold.Beer, wine and spirits producers could also see their two-year tax break revived. The 2017 tax overhaul temporarily lowered the excise tax for brewers, wine makers and distillers. The provision, which has strong bipartisan support, is credited with helping the craft beverage industry expand.Others hoping to use the year-end spending bill as a vehicle for their tax credit includes the solar industry, which is preparing to see it’s 30% investment tax credit start decreasing next year.\--With assistance from Kaustuv Basu.To contact the reporters on this story: Laura Davison in Washington at email@example.com;Erik Wasson in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Joe Sobczyk at email@example.com, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A shifting landscape in the logistic industry and mounting competition to make so-called last-mile deliveries are changing minds on Wall Street.
You’ve put money aside for retirement year after year, sometimes the max, sometimes less when you had expenses to pay. You’ve invested it well, so now you have a good enough nest egg to carry you through the next phase of your life — retirement. There are plenty of vehicles aimed specifically at investing for retirement, especially target-date funds, where fund managers reduce your stockholdings as your chosen retirement date draws near.
Amarin Corp.’s stock rises in the extended session Friday after being halted for half the trading day as the pharmaceutical company hikes its sales outlook following a Food and Drug Administration marketing approval that gives its drug Vascepa a wider use.
This past decade has delivered some of the best stock market returns in history, which unfortunately is a bad sign for the next 10 years, Mark Hulbert reports.
(Bloomberg) -- California Governor Gavin Newsom has long called for PG&E Corp. to emerge from its bankruptcy radically transformed. Now, the beleaguered utility has to race to meet his demands -- or else see its restructuring plan blow up.The state’s largest power company has until Tuesday to address conditions that Newsom laid out in a letter late last week rejecting its reorganization proposal. The governor said the current plan falls “woefully short” of meeting requirements of a key state law and insisted on changes that could reshape PG&E, including an entirely new board and the option for a takeover.Newsom’s rebuke upends PG&E’s restructuring just as the path toward a smooth exit next year seemed to be clearing. The San Francisco-based company, in bankruptcy after its equipment caused massive wildfires, earlier this month reached a $13.5 billion settlement with victims of the blazes. The deal, however, is dependent on the governor’s support and his determination that the reorganization complies with a state law that would provide financial assistance for future fire costs.“His list of demands might be hard for the company to accept, putting the whole Chapter 11 timeline in jeopardy,” said Jared Ellias, a bankruptcy law professor at the University of California, Hastings. “He could have asked for something akin to changing the drapes. Instead it’s more like he is asking them to change their floor plan.”In his letter to PG&E Chief Executive Officer Bill Johnson, Newsom said the bankruptcy resolution “must yield a radically restructured and transformed utility that is responsible and accountable.” He called for a better financial plan, clearly defined safety metrics and a “streamlined process” for a state or third-party takeover if warranted. He also said he doesn’t expect that the post-confirmation board will include any current directors.PG&E said its plan meets state law and “is the best course forward for all stakeholders.”“We’ve welcomed feedback from all stakeholders throughout these proceedings and will continue to work diligently in the coming days to resolve any issues that may arise,” the company said in a statement Friday.Under the settlement agreement, the company has to modify the plan in a manner “acceptable to the governor” by Tuesday.Political PressureNewsom, who took office just weeks before PG&E filed the largest-ever utility bankruptcy in January, faces political pressure to show dramatic changes. The company’s role in deadly wildfires has provoked widespread public outrage, which was exacerbated in October after a series of mass blackouts designed to keep its power lines from sparking wildfires during dry, windy conditions. The governor threatened a state takeover of the company after the outages if it couldn’t improve its operations.“After the company exits bankruptcy, Newsom really needs it to succeed,” Ellias said. “It could put his entire career as governor in jeopardy if this company isn’t successful.”A recent poll by the University of California at Berkeley showed that a majority of the state’s voters are in favor of changing the way PG&E operates, with one-third wanting an end to it as an investor-owned utility.Already, a California lawmaker is planning to introduce legislation that would turn PG&E into a government-owned utility. And a group of mayors and local officials have floated a proposal to make it a customer-owned cooperative.Rival BidNewsom’s demands could give activist investor Elliott Management Corp. and Pacific Investment Management Co. another shot at rallying support around a rival restructuring plan. They’re leading a group of bondholders that have offered to inject $20 billion in cash into PG&E in exchange for most of the equity in the company.In a statement Thursday, Elliott blasted PG&E’s own restructuring proposal, saying it would saddle the company with an additional $10 billion in debt, limit its safety investments and turn the utility into a “junk-bond issuer.”In his letter, Newsom raised similar concerns that PG&E’s debt-heavy plan wouldn’t allow for the company to make billions of dollars of needed safety investments.“All of this contributes to a reorganized company, that, in my judgment, will not be positioned to provide safe, reliable, affordable electric service,” he said.\--With assistance from Steven Church.To contact the reporter on this story: Mark Chediak in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Lynn Doan at email@example.com, Kara Wetzel, Virginia Van NattaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Buffett’s real estate brokerage, Berkshire Hathaway HomeServices, lost one of its biggest stars to rival Keller Williams Realty in its own backyard.
Biotech stocks were seen consolidating last week after advancing in the previous week. The iShares NASDAQ Biotechnology Index (NASDAQ: IBB ) reached a 52-week high of 121.16 Monday, although it has come ...