If you're frantically buying or selling stocks based on what the inversion and the subsequent uninversion of the yield curve is signalling, Jim Cramer has a message for you: Calm down. That's Cramer questioning the wisdom of traders who seem to be reacting to every headline popping up in the financial news cycle these days. Specifically, the television personality and former hedge-fund manager was talking about how stocks were hit hard Wednesday after the 10-year Treasury yield (BX:TMUBMUSD10Y)briefly inverted and slipped below the 2-year yield for the first time since before the 2008 financial crisis.
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.
It is no secret that President Trump watches the stock market. It is less well understood that he has an uncanny sense of stock market timing. Having said that, even opponents of Trump with some objectivity ought to give him credit for his sense of market timing.
A former Walt Disney Co. accountant says she has filed a series of whistleblower tips with the Securities and Exchange Commission alleging the company has materially overstated revenue for years. Sandra Kuba, formerly a senior financial analyst in Disney's (DIS)revenue-operations department who worked for the company for 18 years, alleges that employees working in the parks-and-resorts business segment systematically overstated revenue by billions of dollars by exploiting weaknesses in the company's accounting software. Kuba said she has met with officials from the SEC on several occasions to discuss the allegations.
As unemployment hovers a 49-year low, there are more professions to choose from that will give people the one thing that gets them out of bed in the morning: a meaningful job with the possibility of advancement. Access to career momentum opportunities in the workplace is one of the strongest predictors of employee satisfaction based on millions of reviews left on Glassdoor, in addition to culture and values and quality senior leadership, according to a study released Wednesday by the company. The report used the following criteria: a median base salary over the past year of $80,000 a year or higher, well above the June 2019 U.S. median annual pay of $53,411, and at least 2,000 job openings as of July 5 on Glassdoor.
The one bright spot in the economy, the strength of the U.S. consumer, could throw a wrench in the Fed's messaging this week, as central bankers gear up for an annual policy conference in Jackson Hole, Wyoming. “There is a risk [Fed Chair Jerome] Powell and his colleagues end up disappointing the bond market next week – by not signaling clearly enough that additional rate cuts are coming in mid-September and beyond,” Paul Ashworth, chief U.S. Economist at Capital Economics, wrote in a note to clients. Just last Thursday, July retail sales were released, a key data point on consumer health.
Metallicus, the startup behind the peer-to-peer payments platform Metal Pay, received an undisclosed angel investment from the youngest bitcoin millionaire, Erik Finman. In partnership with Metal Pay CEO Marshall Hayner, the two look to develop the first “all-in-one” cryptocurrency banking platform, which includes a 17 digital asset exchange, a digital bank and a payments application with social features similar to Venmo. Founded in September, Metal Pay has processed approximately $11 million in total payments from nearly 130,000 registered users across 38 states.
The couple are among at least 70,000 investors who have become collateral damage from a cleanup of Ghana's banking industry. The crackdown, which reduced the number of lenders by a third and saw the closure of 23 savings and loans companies, also triggered a run on fund managers, who couldn't sell their holdings fast enough to meet demand. “My wife was very disturbed,” the 36-year-old said by phone from Kumasi in Ghana's Ashanti Region.
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."
(GE) in a statement emailed to investors Monday morning, disputed many of the allegations raised by forensic accountant Harry Markopolos. Markopolos, known for correctly identifying the Bernie Madoff Ponzi scheme, alleged last Thursday that the company is engaged in accounting fraud in its long-term care insurance business—a claim GE has denied. GE (ticker: GE) continues to stand by its accounting for the troubled long-term care insurance business.
The heads of nearly 200 U.S. companies said Monday they are committing to a move away from the idea that the main purpose of a company is to maximize shareholder value, marking a break with a long-held conviction. The Business Roundtable, a group of chief executives that was formed to promote pro-business interests, said it is shifting its statement of the purpose of a corporation to include all of its stakeholders, including employees, suppliers and broader society. The group, which is currently led by JPMorgan (JPM)Chief Executive Jamie Dimon, previously promoted the idea made famous by economist Milton Friedman that companies' primary purpose is to reward shareholders.
The executor of your estate, the person who carries out your wishes, will use your assets to pay off your credit card debts. But when your credit card debts have depleted your assets, your heirs can be left with little or no inheritance. If you are worried about loved ones being stuck with your debts after you die, make sure you understand your rights.
While looking for these kinds of investments, we turned to the TipRanks stock screener to zero in on three stocks garnering praise from the Street. Let's take a closer look at these 3 'Strong Buy' stocks that analysts believe could double in 2020. The file hosting service just got a vote of confidence from investment banking firm JMP Securities following a mixed Q2 earnings release that sent shares Specifically, while the company's revenue reached $401.5 million, up 18% year-over-year, investors throw in the towel on the stock in light of disappointing billings and deferred revenue.
In the last two quarters, billionaire, hedge fund manager, and mathematical genius Jim Simons has moved decisively into the cannabis sector, taking large positions in both Aurora Cannabis (ACB) and Aphria (APHA). Simons, known for his work in higher mathematics and military cryptography, founded the Renaissance Technologies hedge fund in 1982. The firm was a pioneer in quantitative trading, the application of higher mathematics to the financial markets, and has developed a reputation as one of the best returning hedge funds in the business.
Wilson believes that his fellow strategists will increasingly come to admit this, as they realize that neither the Federal Reserve nor the White House can be the savior to markets that many investors hoped. He said that the “Fed Put” and the “Trump Put” are no longer relevant. In real life, a put is an option that gives the holder the right but not the obligation to sell the underlying instrument at a set price by a certain time — a potentially valuable hedge if a bullish position goes south.
August began with President Donald Trump planning to impose a 10% tariff, beginning on Sept. covering $300 billion worth of additional imports from China. But after a large decline in equity markets including semiconductor stocks, the Office of the United States Trade Representative said last Tuesday it would delay the new tariffs on some products until Dec. 15, leading to a rally.
Jason Pang, portfolio manager for Asia fixed income at JPMorgan Asset Management, discusses China's new reference rate for bank loans and what it means for the fixed income market. He speaks on “Bloomberg Markets: China Open.
But retirees responding to this Quora post said people need to make a few more considerations, such as understanding the transition to retirement may be tougher than expected, being flexible about part-time work and knowing not to overcommit to activities and events in the adjustment period. See: 21 lessons for how to get the most out of life, from a guy who retired at 50 Still, there are a few more lessons. Ensure you're on the same page as your partner Sometimes spouses don't agree on what to do in retirement, and that can have a devastating effect on the relationship — and quality of life.
Despite the political hype, more than half of business economists believe that forgiving student loan debt would negatively affect the U.S. economy, according to a recent survey. In fact, 64 percent of economists surveyed by the National Association for Business Economics (NABE) said canceling all, or even a majority, of student loan debt, would have a negative impact on the economy. Meanwhile, one-fifth of respondents said student debt forgiveness would be helpful for the economy.
Shares of Briggs & Stratton were rocked Thursday to levels last seen in the 1970s, after the maker of gasoline engines and outdoor power equipment reported a surprise fiscal fourth-quarter loss, lowered its full-year outlook and slashed its quarterly dividend. The company also said it will close its facility in Murray, Ky., which employs about 630 people, by the fall of 2020, as it consolidates production of its walk-behind lawn mower engines into its Poplar Bluff, Mo. facility. The company said it will offer the affected employees opportunities to relocate to the company's other plants, which are located in Alabama, Georgia, Missouri and New York.
Uber's (UBER) slowing growth and mounting losses reaffirm our belief that this stock has no viable path to justifying its valuation. Instead, let's talk about the story Uber wants to highlight for investors. According to Uber, it is still in the early stages of capturing what it estimates to be a $12 trillion (yes, that's trillion with a “T”) total addressable market that includes personal mobility, food delivery, and freight shipping.
As such, high-growth stocks are ideal for the young-adult, millennial demographic. Colloquially known as the 80-20 rule, advisors recommend that young investors have 80% of their portfolio in stocks, and the remainder in safer, interest-yielding assets. When it comes to millennial stock allocation, spring chickens should really consider high-growth stocks.
U.S. stocks rallied Monday, lifted by encouraging comments from President Donald Trump and other officials on trade talks, along with a move by China over the weekend to lower borrowing costs for companies. Reports that Germany may also be considering stimulus measures underpinned gains for European stocks. The Dow Jones Industrial Average (DJIA) rose 249.78 points, or 1%, to end at 26,135.79, while the S&P 500 index (SPX) added 34.97 points, or 1.2%, to close at 2,923.65.
The founder of Millennium Management got his professional start in trading in 1977, and established his hedge fund in 1989 with an initial investment of $35 million. After a rough start in the business, Millennium has been wildly successful and now holds over $37 billion in assets under management. So, when Izzy Englander's hedge sells off a major holding, pay attention.
“Recession” is a scary word that sends everyone from Wall Street professionals to Main Street consumers into a terrifying flashback of the 2008 financial crisis. “There is so much anxiety out there right now, and I think so much of that has to do with the fact that what happened in '08 was so historically bad that people are absolutely terrified of the next recession when they don't really have to be,” J.P. Morgan Asset Management Global Market Strategist Jack Manley told Yahoo Finance's The Final Round. Manley believes that there could be “a great psychological impact” if we get another recession under our belts.