The stock market may never go down again. Maybe not such a far-fetched notion, when you consider the Dow industrials yesterday nailed its 50th record close of the year and paid a visit to the 23,000 milestone, which it looks set to revisit and maybe stick to today. To mark the occasion, Pension Partner’s Charlie Bilello, the originator of that opening comment, went on a bit of a tweetstorm. He noted how reaching that 23K milestone in other times would be a classic contrary indicator, but will probably juice this bull market another 1,000 points — which itself is less and less of a big deal: To be sure, being in the trenches of this market since the election has been a bit crazy-making, even if
It took 107 pages for a Kentucky court to explain a ruling that bans any farm-machinery maker except Deere & Co. from using green in combination with yellow for their equipment. The court on Tuesday found in favor of Deere DE, +0.40% in a suit aimed at protecting the company’s trademark coloring and brand. The decision bans Fimco Inc., a South Dakota company that makes agricultural sprayers under the Ag Spray Equipment brand name, from painting them green and yellow. The ruling comes after a one-week trial that took place in June. Deere argued that Fimco’s use of the same hues confused the public about where its products came from and diluted the value of the Deere brand. “The court ruled that
President Donald Trump's ranking in the Forbes list of wealthiest Americans has dropped, as the magazine said the value of some of his Manhattan real estate holdings has declined recently. Forbes ranked the first billionaire president as the 248th-wealthiest person in America and put his wealth at $3.1 billion . The year before, he was ranked 156th and Forbes said he was worth $3.7 billion.
A former Tesla employee told Reuters "about 400 people" in a range of positions were shown the door. As Business Insider's Bryan Logan reported, Tesla declined to confirm how many people were fired. Business Insider spoke to experts who said the firings at Tesla are hardly indicative of a trend in the workplace.
Jonathan Golub, Credit Suisse chief US equity strategist, discusses what to buy at record highs as well as his S&P 500 price target.
Volvo Cars and its Chinese parent have unveiled their first Polestar high performance electric car and pledged to invest 5 billion yuan ($760 million) in the brand, gearing up for intense competition to sell greener cars in the world's biggest auto market. The Swedish car maker took the wraps off the "Polestar 1", a luxury four-seater hybrid coupe in a ceremony in Shanghai - its first salvo as it positions the brand as a competitor to Tesla Inc and Mercedes's AMG division. China has said it wants electric and plug-in hybrid cars to make up at least a fifth of Chinese auto sales by 2025, spurring a raft of investment plans from global automakers in electric vehicles, particularly new joint ventures with Chinese firms.
Earnings season can be a euphoric time for stocks. A big part of that has to do with how investors approach earnings season. When investors anticipate strong results, stocks tend to rally heading into the season only to fade as results are actually reported, the firm says.
MONTREAL/PARIS (Reuters) - Airbus SE said on Monday it would acquire a majority stake in Bombardier Inc's CSeries programme in a deal that the Canadian plane-and-train-maker said would boost sales and position the company strategically against a potentially costly U.S. trade dispute with Boeing Co . The deal, which would come at no cost for Airbus, would give the European planemaker a 50.01 percent interest in CSeries Aircraft Limited Partnership (CSALP), which manufactures and sells the jets, the companies said. Airbus Chief Executive Tom Enders said the company has offered to assemble some of the narrowbody jets at its U.S. plant in Alabama for orders by American carriers.
Treasury Secretary Steven Mnuchin said the stock market will tank if the GOP tax bill is not passed during an interview on a podcast. Mnuchin also "absolutely guaranteed" the tax bill would be on President Trump's desk by early December. Treasury Secretary Steven Mnuchin said that the key to maintaining the strength of the stock market is the passage of President Donald Trump and GOP leaders' tax reform package.
Everyone has been talking about Reckitt Benckiser Plc having a problem. Now the consumer group's CEO Rakesh Kapoor is saying the same thing. The group is saddled with a terrible dilemma. The challenge is growth. Third-quarter sales fell 1 percent to 3.2 billion pounds ($4.2 billion) on a like-for-like basis, with the growth guidance for 2017 cut from 2 percent to zero. A host of one-off issues were to blame, not least June's Petya cyberattack. But even on an underlying basis, previously fast-growing Reckitt admits its sales are expanding no more quickly than its markets, at about 2 percent. That, Kapoor says, is unacceptable. The central issue seems to be that Reckitt has just got too big to
More than 20% of Meredith Corporation's shares are owned by ETFs, with much of that being held in dividend-focused funds. This is among the highest percentages in the US market, and serves as a microcosm for the debate around the effect rapidly-growing ETF investment is having on the stock market. You may not have heard of Meredith Corporation, but its shareholder list highlights a tug-of-war in the stock market.
Jim Cramer says the market's bearishness on consumer staples stocks like Kraft Heinz suggests that Wall Street is confident about the future.
The 19th National Congress of the Communist Party of China begins Wednesday. The conclave, which happens every five years, will mark an important political transition, and discussions are expected to continue, and new officials named, through the first quarter of 2018. Several members of the top policy-making body are expected to retire, though President Xi Jinping is likely to be renominated to his position. The change in the leadership will strengthen his hold on power and elevate his supporters to national office. Yet, rather than just view the congress as a political development, investors need to examine the impending changes for their implications for global markets. These may result from
The indices are looking to keep the rally alive as the Dow inches toward 23,000. Meanwhile, traders go through a number of earnings, as Goldman Sachs blows by analysts’ estimates. Yahoo Finance’s Alexis Christoforous, Andy Serwer, Justine Underhill, Sheryl
Industrial goods manufacturer General Electric Company GE is scheduled to report third-quarter 2017 results before the opening bell on Oct 20. The company is likely to report higher industrial segment profit in the quarter on the back of a change in top management. Whether this could drive the bottom line of the company remains to be seen.
The Obamacare statute requires health plans to provide cost sharing reduction subsidies to reduce the deductibles and co-pays in the Obamacare compliant individual health insurance market for those who make less than 250 percent of the federal poverty level. It is a mandate. Funding a mandate is not a bailout. In Washington, DC we call failing to fund a mandate an unfunded mandate. The low income people eligible for these subsidies won't be hurt by Trump's action. The law still requires those people to get their cost sharing benefits even though Trump is refusing to pay for them. That means insurers will have to provide the subsidies out of their own pockets. Hence the hefty premium increases
Former Tesla factory workers have filed two separate lawsuits claiming they experienced racial harassment and discrimination. Tesla said the workers didn't file official complaints of racial discrimination during their employment. Three former workers at Tesla's Fremont, California, factory have filed a lawsuit against the company over claims they experienced racial discrimination and harassment on the job.
What is the theme of this market? Finding the next Amazon (AMZN) . That's according to TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer. "There's always an attempt to find the next," Cramer said. "When there's an attempt to find the next, you're going to get some inflated prices." Amazon shares are up over 34% since the start of the year. Watch all of Jim Cramer's latest videos, right here: Jim Cramer Reveals When to Buy Shares of Goldman Sachs Video: Jim Cramer Reacts to Netflix's Earnings It's Time for a New Broom to Sweep Clean General Electric, Jim Cramer Says Watch: Jim Cramer Reveals the Best Artificial Intelligence Companies
Concern the Trump administration will carry through on its threat to torpedo Nafta is showing up in U.S. equities. At least a few of them. While the president’s talk on protectionism has done nothing to slow the stock market as a whole, air pockets have developed in a smattering of transport and consumer companies that rely on the free trade agreement for large swaths of their business. The fourth round of negotiations is nearing an end amid rising tensions over U.S. proposals, with statements from the delegations expected later Tuesday. For Greenwood Capital Associates’s Walter Todd III, the tone of those will have big implications for his portfolio. Kansas City Southern, the railroad with major
Apple Inc and General Electric Co say they are working together to make it easier to write software that can track power plants and jet engines on Apple's iPhones and iPads. The companies have come up with a tool for app developers to connect Apple's iOS operating system more easily to Predix, the cloud-based software at the heart of GE's effort to turn itself into a "digital industrial" company. The Predix software connects sensor-laden industrial machines like wind turbines, jet engines and elevators to data centers, so that streams of information from the machines can be analyzed to help predict failures and make the machines run more cost effectively.
A last-hour surge by some of China’s biggest companies kept the nation’s benchmark stock index in the green following President Xi Jinping’s landmark speech at a twice-a-decade party gathering. The gauge reached its session high in the final five minutes of trading as the two largest-weighted members -- Industrial & Commercial Bank of China Ltd. and PetroChina Co. -- extended gains to more than 2 percent. Late-afternoon buying in large-cap companies during events of national importance has been a hallmark of suspected government intervention in recent years. The ChiNext index of mostly small-cap technology firms closed 0.5 percent lower, while the onshore yuan added 0.1 percent against the U.S. dollar and 10-year bond yields held steady near the highest level since late 2014.
There was no initial sign of changes to major brokerage trading recommendations for International Business Machines Inc and most shied away from calling a complete turnaround in the company's fortunes. "We were pleased to see the quality of IBM's earnings improve, with IP income and taxes being less of a driver of upside than in prior quarters," Deutsche Bank analyst Sherri Scribner wrote in a note. While IBM has struggled more than peers such as Oracle Corp and Microsoft Corp to adjust their approach to a changing market, the quarterly performance of its software business was noteworthy given its presence in key software markets, Jefferies analyst John DiFucci wrote in a note.
Pacific Oil and Gas (NYSE:PCG) shares were moving higher during Tuesday’s session, following a 7% drop Monday. The stock has seen a recent string of losses on the possibility that the company may be responsible for starting the California wildfires. PG&E said in an SEC filing Friday it has "$800 million in liability insurance for potential losses," while also noting in the same filing, "that the fires are being investigated by the California Department of Forestry and Fire Protection (Cal Fire), including the possible role of power lines and other facilities of Pacific Gas and Electric Company, a subsidiary of PG&E Corporation. When we reached out for comment, PG&E told FOX Business: “We’ve received the Commission’s request and will comply with the request.
Big Wall Street banks have come to rely on their money-management units as pots of gold in uncertain times for trading revenues. Morgan Stanley is a perfect example; it reported earnings on Tuesday that highlighted its wealth management as a bright spot, posting its third straight quarter of record pre-tax earnings. The Blackstone Group LP, for example, is relying on wealthy individuals with up to $5 million in assets for its next phase of growth, according to a recent Wall Street Journal article. The Carlyle Group, meanwhile, is teaming up with OppenheimerFunds on a joint venture marrying Carlyle’s asset-management reach with the other firm’s distribution network, according to a press release Monday.
IBM Corp. somehow managed to maintain its rock-bottom effective tax rate in Tuesday’s earnings report, riding its continuing ability to avoid taxes to an earnings beat and after-hours stock gains. IBM IBM, +9.28% managed to beat expectations for profit and sales despite revenue declining for a 22nd consecutive quarter, to $19.15 billion from $19.22 billion a year ago. Even coming that close to break-even helped IBM stock push higher in late trading by more than 5%, combating a slide that had seen shares decline 11.7% so far this year, as the S&P 500 index SPX, +0.08% has gained 14.3% and the Dow Jones Industrial Average DJIA, +0.58% has gained 16%.. The company’s profit also topped analyst