Bitcoin Cash is up 17% against the dollar on Monday. The cryptocurrency has risen 80% over the last seven days. An upcoming 'fork' of the currency — a change to its underlying code — appears to be supporting the price rally. Follow the live Bitcoin Cash
It was looking like a banner year for business in China. The U.S. clothing company was expecting a 20 percent jump in online sales on Alibaba's Tmall, thanks to the e-commerce giant's massive reach. The company refused to sign an exclusive contract with Alibaba, and instead participated in a big sale promotion with its archrival, JD.com Inc. Tmall punished them by taking steps to cut traffic to their storefront, two executives told The Associated Press.
Reagan's stock market gives clues for the Dow's next move: Acampora 2:27 PM ET Fri, 20 April 2018 | 01:53 Donald Trump, like Ronald Reagan before him, is an outside-the-beltway president. That recently prompted longtime market watcher Ralph Acampora to investigate whether the two had anything else in common. What he found could be a warning to the stock market. "Ronald Reagan had a six-month honeymoon," Acampora, director of technical research at Altaira Capital Partners, told CNBC's "Futures Now" last week. "The percentage gain was roughly about 10 percent." When Reagan was sworn into office on Jan. 20, 1981, the Dow Jones Industrial Average was trading at around 950. The index, which at
Saudi Arabia is rumored to want oil prices at $100 per barrel, but if prices rise that high, it could sow the seeds of the next downturn. Saudi officials want more revenues for their budget and a higher oil price to bolster the valuation of the Aramco IPO. As Liam Denning of Bloomberg Gadfly points out, in the past decade, while oil prices have surpassed $100 per barrel for periods of time, they didn’t stay there for very long.
There is a good reason not to pay attention to General Electric earnings and analysts who cover the company. Because if you did, you would have lost your shirt. To be fair, a couple of analysts have been, belatedly, correct. Compare General Electric’s GE, +3.93% chart with that of the Dow Jones Industrial Average DJIA, -0.82% and the S&P 500 ETF SPY, -0.85% The drastic underperformance of General Electric’s stock will surely jump out at you. Let’s explore the chart. Chart Please click here for an annotated chart of General Electric. Please note the following: • General Electric is showing the first green candle on the chart in a long time. This is positive. • During the selloff, volume picked
Unlike many of the scandals that have triggered billion-dollar penalties for banks, the problems that led to a 10-figure federal government settlement for Wells Fargo & Co. don’t appear to have colorful emails or trader messages describing bad behavior. Wells Fargo’s WFC, +1.98% risk management already resulted in an unprecedented Federal Reserve sanction of having its growth limited. Wells Fargo, keep in mind, was fined by the CFPB and other regulators after opening millions of customer accounts without permission. To hear the OCC tell it, Wells Fargo did not establish “effective first and second lines of defense,” execute on a comprehensive plan to address compliance risk management deficiencies, fill mission-critical staffing positions, implement a reliable risk assessment and testing program and report compliance concerns adequately to the board.
Mark Mobius, the 81-year-old investment guru, believes the U.S. stock market is set for a 30% correction that would essentially wipe out the gains of the last two years. The renowned fund manager, who left Franklin Templeton, the American investment house, after more than 30 years in January, said “all the indicators” point to a large fall in the S&P 500 SPX, -0.85% and the Dow Jones Industrial Average DJIA, -0.82% . “I can see a 30% drop,” said Mobius, who launched one of the world’s first emerging market funds. “When consumer confidence is at an all time high, as it is in the U.S., that is not a good sign. “The market looks to me to be waiting for a trigger that will cause it to tumble. You
A strong start to earnings season helped the S&P 500 Index inch higher over the last week. Several major businesses added to the positive sentiment with announcements of higher dividends. 6 notable dividend stocks increased their payouts over the last
Grace Peters of JP Morgan Private Bank says equities should still be able to thrive in a 3% Treasury yield environment, but things get tricky if yields rise above 3.1%.
Oil has rallied sharply in recent days to see West Texas Intermediate (WTI) trading at just under $70 per barrel and Brent breaking through the $70 per barrel mark, with crude trading at its highest price since 2014. The surge in oil can be directly attributed to a wide variety of geopolitical risks which are sparking considerable fears that global oil supplies could be sharply constrained in coming months. This has triggered considerable speculation that $100 per barrel is on its way. According to some pundits, the bearish factors which have weighed on oil prices for some time have been priced in by the market.
Workplace discrimination in China often begins with help-wanted ads. Job recruitment websites routinely feature advertisements from prominent technology employers such as Alibaba Group Holding Ltd., Baidu Inc. and Tencent Holdings Ltd. for positions that are open only to men, according to a report released by Human Rights Watch on Monday. With the three big internet companies boasting they have “beautiful girls” or “goddesses,” those ads contribute to widespread gender discrimination in the workplace, Human Rights Watch said.
Scandals, bad debts, ATM cash shortages--India’s banking system has experienced them all in recent months and the bad run is starting to have repercussions for both the broader economy and Prime Minister Narendra Modi. India’s nearly $1.7 trillion formal banking sector is coping with $210 billion of soured or problem loans, and some regional banks have been ensnared in fraud scandals. With a national election slated for April or May, Goldman Sachs Group economists have trimmed their growth projections for the year ending March to 7.6 percent from 8 percent amid concerns that the banking system’s woes are more widespread than previously thought. On top of that, ATMs in some parts of the country have been reported to be running dry in recent days.
Oil eased on Monday on rising U.S. borrowing costs and the prospect of further output rises after another increase in the weekly rig count, although the overall picture for crude remained bullish. Brent crude futures were down 49 cents at $73.57 a barrel by 0911 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 51 cents to $67.89 a barrel. "Underlying sentiment is bullish ... we've got an important decision from (U.S. President Donald) Trump coming up in May and we have OPEC potentially trying to 'overtighten' the market," Saxo Bank senior manager Ole Hansen said.
Prestige Economics President Jason Schenker discusses U.S. and China trade relations, and talks about the price and production of oil. THERE ARE OTHER RISKS THAT WE ARE SEEING ON THE TABLE IN FEBRUARY, THAT WE SAW A CORRELATED DECLINE IN ASSET VALUE, EQUITIES ON PRICES BOND RISES, OIL PRICES BY CONCERN OF HIGHER INTEREST RATES AND THEN OF COURSE WITH THE ENTRANCE OF MARCH CAME THESE TRADE CONCERNS THAT HAVE ADDED FURTHER DOWNWARD PRESSURES. OPTIMISM THAT WE COULD MOVE TO SOME SORT OF THE TAUNT WOULD BE QUITE POSITIVE DETENTA E WHERE ANY FURTHER SPIN OUT OF CONTROL WITH TRADE WOULD BRING DOWNSIDE RISK TO GROWTH AND EQUITIES, DOWNSIDE TO COMMODITY PRICES.
Goldman Sachs upgraded shares of Merck MRK to buy from neutral and named it to its Americas Conviction List of favorite stocks on Monday because of potential booming sales from the drugmaker's blockbuster lung cancer treatment Keytruda. Merck shares added 2 percent in premarket trading on the Goldman call. "We believe the narrative for this company is quickly changing with the success of Keytruda (a potential $16bn asset by 2025E) driving a significant shift in product mix from a large primary care evolving into a specialty biopharma," wrote Jami Rubin in a note to clients.
Add Hanjin Group’s Korean Air Lines Co. to the country’s family-run conglomerates that are seeing the founding clan’s representation diluted. This time, Hanjin Chairman Cho Yang-ho pushed out his youngest daughter after allegations she threw water in the face of an advertising agency worker during a business meeting. For good measure, he also fired his eldest daughter who four years ago spent five months in jail after the so-called nut rage incident. The executive had forced a plane to return to the gate at John F. Kennedy Airport in New York because of the way she’d been served her macadamia nuts. Cho Yang-ho, also chairman of Korean Air, said in an email Sunday he will promote professional
As earnings season is starting to pick up pace, here’s a look at some the top stock trades in the stock market. With shares of Apple Inc. (NASDAQ:AAPL) down more than 4% Friday, it’s no wonder tech is having a tough day. Many investors are trying to figure out what to make of Apple’s 7% slide over the past three trading sessions.
The U.S. Commerce Department has granted ZTE Corp's request to submit more evidence after the agency banned American companies from selling to the Chinese technology firm, a senior Commerce official said on Saturday. The U.S. Commerce Department's Bureau of Industry and Security, or BIS, this week banned American companies from selling to ZTE for seven years, saying the Chinese company had broken a settlement agreement with repeated false statements. The action was sparked by ZTE's violation of an agreement that was reached after it was caught illegally shipping U.S. goods to Iran.
Natural gas futures finished nearly flat last week, highlighted by a sharp break on Thursday and an even greater rally on Friday. Fundamental traders are having a difficult time trying to forecast near-term demand because of the erratic weather pattern in the United States. June Natural Gas futures settled the week at $2.767, up $0.003 or +-.11%.
For years I’ve lectured about the wonderfulness of Roth IRAs. While the new Tax Cuts and Jobs Act (TCJA) includes one negative change for Roth IRAs, they are still pretty wonderful. Here’s what you need to know about Roth IRAs and especially Roth IRA conversions in the post-TCJA world. Roth IRAs have two big tax advantages The two most-important Roth IRA tax advantages are: Tax-Free withdrawals Unlike traditional IRA withdrawals, qualified Roth IRA withdrawals are federal-income-tax-free and usually state-income-tax-free too. What is a qualified withdrawal? It’s one that is taken after you, as the Roth account owner, have met both of the following requirements: 1. You’ve had at least one Roth
One job ad for Chinese high-speed train conductors called for candidates who were "fashionable and beautiful." Another ad targeting men for a job in a Chinese internet company included photos of a female employee pole-dancing. Gender discrimination is widespread in the Chinese workforce, a human rights group said Monday, with many hiring advertisements openly calling only for male applicants and using the attractiveness of female co-workers as a draw. Human Rights Watch released its report, "Only Men Need Apply: Gender Discrimination in Job Advertisements in China" after looking at more than 36,000 job advertisements posted between 2013 and 2018 from recruiters, companies and the government.
The 2/10 spread however has broadened to more than 51 basis points, which if held will spark some continued life into the banks. With interest rates nearing a point where they might not be all that helpful to equity markets going forward. With the ongoing trade conflict with China likely to re-emerge in significance within two or three weeks.
The apparent focus of investor anxiety is the sales performance of the iPhone X, a super-premium handset rolled out last fall. Both and Merrill Lynch have said overall iPhone sales are stalling. A separate report affirmed Apple's dominance of the smartphone market, and according to CNBC, most analysts still consider the stock a good investment.
ZTE Corp., one of China's biggest tech companies, said Sunday that it is taking steps to comply with a U.S. technology ban and that it is seeking a solution to the issue it says threatens its survival. The ban on state-owned ZTE was imposed last Monday in a case involving exports of telecoms equipment to Iran and North Korea. U.S. companies are barred from selling technology to ZTE for seven years.
UAE energy minister: Production cuts have helped market to recover 1 Hour Ago | 03:26 The Organization of the Petroleum Exporting Countries is not artificially inflating oil prices but has instead come together with the "noble goal" to rescuing the market, OPEC's current chairman said Monday. "I don't think we ever said that we're targeting a price. We all remember what's happened two years ago — the market was over-flooded, and it wasn't OPEC who over-flooded the market. And no one intervened to do anything about it," Suhail Al Mazrouei, the United Arab Emirates' minister of energy and industry and OPEC president, told CNBC's Hadley Gamble. The oil market experienced a sharp downturn after