The Fed meeting comes amid increased volatility in the U.S. money markets that raises the odds for the central bank to expand its balance sheet. Gold surged to a six-year high earlier this month as a persistent trade war between the U.S. and China slowed global growth, prompting central banks to ease policy. The Fed delivered its firstcut in borrowing costs in more than a decade in July, casting that move as a “mid-cycle adjustment.” Investors are now waiting to see if policy makers pivot toward a more sustained run of reductions, potentially aiding non-interest bearing bullion.
Bank of America Corporation (BAC) stock has been range bound through most of 2019, oscillating between support in the mid-$20s and resistance at $30. It has just lifted back to range resistance for the third time this year, once again raising hopes for a breakout that rewards patient shareholders. It's hard to rule out anything in a market environment that has been full of surprises, but a renewed downturn seems more likely, due to multiple headwinds. First and foremost, the Federal Reserve is reducing interest rates at a rapid pace, narrowing the overnight spread that commercial banks need to increase profits.
Cascend Securities reiterated its buy rating on Apple stock and raised its price target to 270 from 260. In morning trading on the stock market today, Apple stock climbed 0.4%, near 221.90. Apple stock broke out of a flat base at a buy point of 221.47 on Sept.
The Democratic Party seems to be leaning towards the left on policies, which is very harmful for the economy. I don't like the shift to the left,” he explained to CNBC, adding that the market, of course, will open, but it won't be pretty. It would be a bear market and they go on for a year and go down 25%,” he said.
Maria Bartiromo has been covering business news for 30 years, and she's got her eye on the next big wave: artificial intelligence. The Fox Business News anchor, who recently re-signed with the network for a multiyear deal, is releasing an hour-long investigative documentary about artificial intelligence. The segment, which has been in the works for a year now, includes interviews with chief executive officers of major companies including IBM (IBM) and Ford.
Clayton-based footwear company Caleres Inc. NYSE: CAL) has hired Angela Bass as chief human resources officer and a member of the company's leadership team, effective Monday. Bass will replace Doug Koch, who has been senior vice president and chief human resources officer since January 2016 and in executive HR posts since 2002.
Ginni Rometty, International Business Machines Corp. chair, president and chief executive officer, discusses investing in people and developing their skills amid the rise of new technologies that may replace many jobs. She speaks with Bloomberg's Caroline Hyde on "Bloomberg Markets: The Close."
Shares of Roku Inc. sank again Friday, putting them on track for their worst weekly performance this year, as investors continued to express concern over increasing competition and an extreme valuation. The streaming-media player's stock (ROKU) dropped 9.8% in morning trading, and has now shed 18.2% this week. This week's selloff was highlighted by Wednesday's 13.7% plunge, after Comcast Corp. (CMCSA) said it will start giving away its Xfinity Flex streaming-media player for free to those who subscribe to the cable operator's internet-only plans.
Silver has posted gains in Friday trade, adding to the slight gains seen on Thursday. After posting back-to-back weekly losses, silver has rebounded nicely and is currently up 2.7% on the week. Silver also provided a snapshot of investor mood after the keenly-anticipated Federal Reserve decision on Wednesday.
Replacing Chinese telecoms equipment would cost European telecom operators about $3.5 billion, a report by industry research firm Strand Consult predicted on Friday, far lower than the figure a lobby group came up with. Industry lobby group GSMA, backed by blacklisted Chinese firm Huawei, predicted a cost of $62 billion. The world's largest telecom equipment maker Huawei has been put on a U.S. blacklist after Washington said its equipment could be used for spying, which the company denies.
Shares of McDonald's were rising slightly Friday after the fast food giant increased its quarterly dividend by 8% to $1.25 a share. "Our broad based business strength across the globe is a testament to the Velocity Growth Plan. This is the 43rd consecutive year that McDonald's has raised its dividend since it began paying dividends in 1976.
10:46 a.m. The Dow Jones Industrial Average was inching toward its all-time high after U.S. President Donald Trump exempted some products from tariffs on Chinese-made goods, while China cut interest rates. The Dow has gained 66.20 points, or 0.3%, to 27,160.99, while the S&P 500 has risen 0.2% to 3011.44, and the Nasdaq Composite is little changed at 8186.15. The Dow's all-time high of 27,359.16, hit July 15, is just 0.9% away, while the S&P 500's record of 3025.86, reached on July 26, is just 0.5% away.
German Chancellor Angela Merkel's ruling coalition came to an agreement on a comprehensive package aimed at cutting greenhouse gases. Bloomberg's Matt Miller reports on "Bloomberg Surveillance."
(COST) Wholesale stock (COST) is ticking up Friday, helped by an upgrade from Gordon Haskett, which sees several catalysts for the discount retailer, including pending earnings that could surprise on the upside. Costco stock is up more than 41% year-to-date, while the S&P 500 has climbed around 20%. On Friday, Gordon Haskett analyst Chuck Grom boosted his rating on Costco to Accumulate from Hold, raising his price target to $330 from $255.
In a new interview, Jonathan and Drew Scott — co-hosts of the HGTV series “Property Brothers” — explain where buyers should invest in real estate, and why Las Vegas and Nashville are at the top of their list. “Don't go and invest across the country somewhere that you don't know,” Drew Scott says. Political or economic conditions can determine whether it's worthwhile to build somewhere, said Jonathan Scott, Drew's twin.
The United States could learn quite a bit from other countries around the world when it comes to retirement security, according to a new report. The annual Global Retirement Index, started by Paris-based investment bank Natixis Investment Managers, analyzes four key indexes: finances in retirement, including taxes and the old-age dependency ratio; health, such as life expectancy and expenses; “material well being,” which is income equality and unemployment; and quality of life, including happiness and water quality. Iceland topped the list this year, followed by Switzerland and Norway.
Saudi Arabia took journalists on Friday to the site of a missile-and-drone strike on the kingdom's oil industry that shook global energy markets over the weekend, while Kuwait raised the security levels at its ports following the attack that the U.S. alleges Iran carried out. The journalists arrived at Saudi Arabia's Abqaiq oil processing facility, described by the state-run oil giant Saudi Aramco as "the largest crude oil stabilization plant in the world." Video shot of the Sept. 14 attack showed flames leaping into the air just before dawn, with thick black smoke rising from the site visible from space.
FedEx says one of its pilots was detained in China after an item was found in his luggage before he boarded a commercial flight. The company said Thursday the pilot was later released, and it is working with Chinese authorities to understand what happened at the airport in Guangzhou, in southern China. The Wall Street Journal reported that former U.S. Air Force pilot Todd A. Hohn was detained on Sept. 12 after pellets used in replica air guns were found in his checked bag.
For years, AT&T (NYSE:T) stock has been a “yield trap.” This is a stock who's dividend is too good to be true. DirecTv cost AT&T $49 billion in 2015 but has lost 2.5 million subscribers in the last year. AT&T CEO Randall Stephenson's planned glorious retirement next year is beginning to look more like former General Electric (NYSE:GE) CEO Jeff Immelt's more ignominious exit.
The Dow Jones Industrial Average (DJIA) rose 46 points, or 0.2%, at 27,140, the S&P 500 index (SPX) rose 7.6 points, or 0.3%, to 3,014, while the Nasdaq Composite Index (COMP) advanced 9 points to reach 8,194, a climb of 0.1%. On Thursday, the Dow fell 52.29 points, or 0.2%, to end at 27,094.79, while the S&P 500 index clung to a gain of 0.09 point, or less than 0.1%, to close at 3,006.82. The Nasdaq Composite Index added 5.49 points, or 0.1%, finishing at 8,182.88.
Xilinx declined in premarket trading Friday after announcing Chief Financial Officer Lorenzo Flores would be leaving the chipmaker. Toshiba Memory Holdings announced Friday that Flores would be joining the company as vice chairman. Toshiba Memory is expected to rebrand as Kioxia Holdings on Oct. 1.
Uber (ticker: UBER) sports a market valuation of more than $57 billion, while WeWork has raised more than $12 billion in venture capital. At an event Wednesday at his house in San Francisco's Pacific Heights neighborhood, Ellison met with a small group of entrepreneurs, and spent more than an hour answering their questions on a variety of topics. Ellison asserted that while he is close friends with Softbank's Masayoshi Son, he doesn't see the investment case for either WeWork or Uber, both large holdings in Softbank's Vision Fund.
Expressions of interest value the unit at more than $2.5 billion, and Evercore Inc. is advising on the potential divestment, the Houston-based company said Friday in a statement. McDermott said it's also continuing efforts to sell the remaining part of its pipe fabrication business and its industrial storage tank business. It's been a roller-coaster week for the company, with its shares plunging as much as 76% on Wednesday after the hiring of debt restructuring specialist AlixPartners was reported.
Solar and wind power provide carbon-free electricity. While lithium-ion batteries have started to meet some of the need for storage, the metals needed to make them are not plentiful enough for large-scale energy hoarding. At Quartz, we've written about companies working on reversible sulfur power-plants, injecting water underground, running “refrigerators on steroids,” and using stacked concrete blocks—all with the purpose of storing excess renewable energy.
Although the concept of an ideal retirement portfolio is somewhat relative, many financial planners would define this in terms of what it is able to do. An “ideal” plan in this sense is one that would meet your financial needs until death. The manner in which the actual funds are allocated in order to accomplish this can vary substantially depending on a number of factors. Most ideal portfolios for carrying someone through retirement are going to have at least some measure of the following characteristics. Retirement plans are designed to grow over long periods of time, and growth instruments such as stocks and real estate typically form the nucleus of most successful retirement portfolios, at least when they are in the growth phase.