Ripple, currently the third-largest digital currency in the world after bitcoin and ethereum, had an extraordinary end to 2017. In the last few days of the year, the price of XRP climbed dramatically. In the process, and with tokens trading for more than $3 each, ripple catapulted past ethereum to become the second-largest cryptocurrency by market cap. (See also: Ripple Briefly Was 2nd Most Valuable Cryptocurrency.) Although it has since fallen by a significant margin, in the first days of 2018, ripple had generated a great deal of excitement. (See also: Bitcoin Price Slides Further; Ripple Builds Lead Over Ethereum.) Perhaps that is why many investors found it odd when Coinbase announced in
FedEx (NYSE:FDX) CEO Fred Smith said on Tuesday tax reform will boost the balance sheets of American businesses and stimulate investment in the United States. Many companies, including Wal-Mart (NYSE:WMT), AT&T (NYSE:T) and Boeing (NYSE:BA), are giving back by raising pay and doling out employee bonuses, as a result of the tax bill. It passed in between our board meetings and I’m sure we are going to be doing a lot of things as a result of this tax bill because it was very, very good policy,” he said.
Perhaps it is because trading stocks can often mirror the thrill of winning big at the blackjack tables, or maybe it is because Las Vegas conjures images of the world’s most flashy brands and businessmen. Luckily for investors, now is also a great time to be buying gambling stocks, as continued domestic strength, a great recovery in Macau, and overall international interest in gaming have led to rising share prices. Led by the legendary Steve Wynn, this iconic gaming brand is looking strong after another solid earnings report.
Bitcoin (Exchange: BTC=) could hit $100,000 in 2018, an analyst who correctly predicted the cryptocurrency's rally at the start of last year told CNBC on Tuesday. Kay Van-Petersen, an analyst at Saxo Bank, added that other rival digital coins could also outperform. Van-Petersen forecast in December 2016 that bitcoin would reach $2,000 in 2017 .
The Dow, which was up 283 points at its high to break above 26,000 for the first time, finished the day down fractionally, losing 10 points, or 0.04%. The benchmark S&P 500 lost 9 points or 0.3%, while the tech-heavy Nasdaq led losses with a 37 point decline, good for a percentage loss of 0.5%. On Wednesday, the economics calendar will bring investors the December reading on industrial production from the Fed and the January reading on homebuilder sentiment from the National Association of Homebuilders in the morning.
General Electric Co indicated it is looking closely at breaking itself up on Tuesday as the conglomerate announced more than $11 billion in charges from its long-term care insurance portfolio and new U.S. tax laws. Chief Executive John Flannery has previously raised the idea of selling pieces of the largest U.S. industrial company, but went slightly further on Tuesday, saying GE is "looking aggressively" at a spin-off or other ways to maximize the value of GE's power, aviation and healthcare units.
Nearly every major cryptocurrency—including bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash—has experienced substantial losses on Tuesday, highlighting concerns over potentially catastrophic regulatory changes in key Asian markets. Similarly, Litecoin has shed about 16.4%, Ripple has crashed more than 24.7%, and Bitcoin Cash has dropped roughly 20.7%. The total market capitalization of the 1,450 cryptocurrencies tracked by CoinMarketCap slumped from a 24-hour high of $713.64 billion to a low of $536.65 billion earlier this morning.
Per reports, biotech bigwig Celgene Corporation CELG is looking to acquire smaller biotech Juno Therapeutics JUNO. Celgene is on the look-out of new deals and acquisitions given a lacklustre 2017. Celgene suffered a series of setbacks over the last few months. Earlier in Jan 2018, Celgene announced it will acquire Impact Biomedicines for an upfront amount of $1.1 billion.
The leader of the free world is healthy as a horse. Rear Adm. Dr. Ronny Jackson gave President Donald Trump a clean bill of health during a news conference Tuesday. Amid scrutiny of Trump's mental health by political adversaries, the doctor said that the president's mental health is fine. Here are some of the highlights from Jackson's news conference. Trump Takes Ambien The doctor said that Trump takes some the sedative Ambien when he goes on long flights internationally. Normally, the president sleeps between four and five hours per night. Trump Wants to Trim Weight While this may not pass the eye test, Jackson insists that the president is 6'3 and weighs 239 pounds. The doctor also said
Brent crude oil shed some of its recent gains on Tuesday, falling nearly $1 a barrel but healthy demand underpinned prices near $70, a level not seen since 2014's market slump. Prices have been driven up by oil production curbs in OPEC nations and Russia, as well as strong demand thanks to healthy economic growth. Brent futures fell 90 cents to $69.36 a barrel by 1345 GMT.
Google has opened a new office in Shenzen, China. This is the third office space Google will operate in China, but it will operate in a shared office rather than a custom-for-Google space. Google has opened a new office in Shenzen, its third in China.
The folks who drive pickup trucks are an ardent, consistent lot. This week at the North American International Auto Show in Detroit, each of Detroit’s so-called Big 3—Fiat Chrysler Automobiles NV, Ford Motor Co. and General Motors Co.—is showing off a new pickup truck in the hopes of tempting customers currently wedded to a rival, or at the very least keeping its own drivers from straying. With that kind of black ink at stake, auto executives have been questioning just how loyal the typical pickup truck owner truly is. When it comes to full-size rigs, roughly half of pickup truck owners re-upped last year, trading in a full-size truck and buying another rig from the same brand, according to Edmunds.com.
Discussing the current state of the markets with Chris Bertelsen, Aviance Capital Management; Kenny Polcari, O’Neil Securities; and CNBC’s Rick Santelli.
Question: My ex-husband passed away recently. I was married to him for more than 10 years, from 1959 to 1971. What would I be entitled to if I made a claim for part of his benefits? I currently receive $1,069 per month from Social Security. I am now 78 years old. He was 82 when he recently passed. I appreciate any advice you can give me. Answer: According to Social Security Administration (SSA), if you're getting benefits based on your own work, you should call (1-800-772-1213) or visit an SSA office. The SSA will check to see if you can get more money as a widow (or widower). If so, you'll get a combination of benefits that equals the higher amount. You must, however, complete an application
Citigroup (C), UnitedHealth (UNH), and CSX (CSX) are among the big names announcing Q4 financial results. Spotify’s IPO is about to disrupt Wall Street: Spotify AB upended the world of music with its popular streaming service. Banks working on Spotify’s unusual public share listing stand to collect a fraction of the fees underwriters typically charge in big IPOs, in a blow to the already beleaguered stock-selling business.
The U.K. financial regulator went to a London court to end a final dispute in a years-long battle with about a dozen bankers caught up in trading scandals who complained they had been improperly identified in reports. After the U.K. Supreme Court ruled in the Financial Conduct Authority’s favor on the issue last year, most bankers dropped their cases. For years the FCA used monikers such as “Trader A” in settlement notices with firms to get around a requirement that a person must be given the chance to respond to allegations if they were identified. The regulator returned to court Tuesday to challenge a previous decision won by former JPMorgan trader Julien Grout, who said he was identifiable in the bank’s London Whale penalty notice, which accompanied a 138 million-pound ($189 million) settlement with the bank in 2013.
Bank of America Corp. just joined a roster of big U.S. lenders suffering multimillion-dollar burns on their dealings linked to Steinhoff International Holdings NV. Shares of the embattled South African retailer lost about 90 percent of their value last month after it announced Dec. 5 that it had uncovered accounting irregularities. Banks and other creditors had almost 18 billion euros ($22 billion) of exposure to Steinhoff at the end of March.
High interest rates on your debt can lead to devastating costs. Think of this way: Paying off a debt with a 15 percent interest rate is like earning 15 percent, risk-free and tax-free. If you’ve used your tax refund to pay down debt but are still saddled with high interest obligations on credit cards or payday loans, use this moment to escape the cycle.
Comcast Corp. committed to a "strategic relationship" with one of its competitors' companies Tuesday with the cable division's selection of an Amazon company as its preferred public cloud infrastructure partner. Amazon Web Services Inc. said Tuesday Comcast Cable, which is currently running workloads on the Seattle-based e-commerce giant's cloud platform, will bring additional material workloads over to AWS and also build new applications on it. In a statement, Jan Hofmeyr of Comcast Cable said this announcement marks a deeper "strategic relationship" with AWS. “Over the years, we have leveraged the breadth and depth of AWS’s services, including compute, storage, and analytics. In that process,
(Reuters - Thomson Reuters Corp on Wednesday published its debut "Top 100 Global Technology Leaders" list with Microsoft Corp in the no. 1 spot, followed by chipmaker Intel Corp and network gear maker Cisco Systems Inc
The Dow Jones Industrial Average plowed past 26,000 as optimism over corporate earnings turbocharged the equity bull market.Gains in companies from Boeing Co. to Caterpillar Inc. lifted the index for American blue chips past the round-number milestone
Saudi Aramco has not invited UBS and Bank of America Merrill Lynch to pitch for senior advisory roles in its stock market listing because they have not lent money to the state oil giant in recent years, according to five finance sources. The two investment banks, among the world's biggest, have not been asked to attend meetings in Saudi Arabia in the coming weeks where its rivals will pitch for global coordinator mandates for the IPO, said the people familiar with the matter.
Shares of IBM gained about 1% Tuesday morning after the computer and software giant announced a blockchain partnership with Denmark’s Maersk, the world’s largest shipping company. The two companies will create an industry-wide trading platform that could speed up the movement of goods while saving billions of dollars by eliminating the "enormous trail of paperwork and bureaucracy" that comes with international shipping, Reuters reports. “The big thing that is missing from this industry to digitize and unleash the potential of the technology is really to create a form of utility that brings standards across the entire ecosystem,” Maersk’s Chief Commercial Officer Vincent Clerc told Reuters.
BEIJING (AP) — Asian stock markets were mostly higher Tuesday following a holiday for U.S. markets as investorsed look ahead to American corporate earnings.KEEPING SCORE: The Shanghai Composite Index rose 0.4 percent to 3,425.03 and Tokyo's Nikkei 225