U.S. stocks are sending an important message this January: This rally could have a whole lot higher to run. According to a survey from the University of Michigan, 66% of American households believe that stock prices are likely to rise further in the next year. That's a record. And they're probably right. Structurally, this rally continues to look strong. Performance-wise, all the big indices are charging hard right now. The big S&P 500, for instance, is up 15% in the last six months alone. And from a market breadth standpoint, the vast majority of the stocks on the market are still participating in the upside. About 81% of S&P components are up in the trailing six months, showing that this rally
The Dow is climbing, and with it, investors' hopes and dreams. The Dow Jones industrial average shot past the 25,000 mark for the first time in January -- and just a week later, topped a new milestone of 26,000. Because while you may think you know everything you need to know about the stock market (and maybe you do!), this is not your parents' or grandparents' Dow.
Don Taylor at the Franklin Rising Dividends Fund disregards companies’ current dividend yields when selecting stocks. Instead he focuses on the strength of their underlying businesses. If a company increases its sales, earnings and cash flow enough to support significant and consistent increases in dividends, its stock should perform well in the long run, he reasons. Taylor has used that strategy since he helped establish the $19.4 billion Franklin Rising Dividends Fund FRDPX, +0.56% in 1996. The fund’s strategy is to select companies that are expected to post double-digit increases in dividend payouts over the long term. “The core is underlying business growth,” Taylor said in an interview Jan.
BMW and Mercedes are planning to test car subscription services this year. Auto companies hope subscription-based and other mobility services will make revenue more consistent. The auto industry has posted strong sales numbers in recent years, which has made car manufacturers and dealerships scared about the future.
Shares of Arista Networks Inc. ANET, -1.02% fell 0.9% in Tuesday morning trading after analysts at Deutsche Bank cut their rating to hold from buy. Arista shares have more than tripled over the past 12 months, and the team at Deutsche Bank is concerned about valuation. "There is little room for error at current elevated levels," wrote Vijay Bhagavath. He thinks order pauses are possible during the second half of this fiscal year and into next year, and he also sees new competitive risks emerging. A "resurgent Cisco CSCO, +0.58% is starting to make 'strategic inroads' into major cloud and content providers," he wrote, which potentially include Microsoft Inc.'s MSFT, +0.41% Azure. "This suggests
Major Regional space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective. This is arguably taking place in the Banks - Major Regional space as it currently has a Zacks Industry Rank of 40 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there. Meanwhile, Citigroup is actually looking pretty good on its own too.
Rite Aid Corporation RAD is on track with the process of transferring stores and related assets to Walgreens Boots Alliance Inc. WBA under its amended and restated asset purchase agreement. Per the agreement, Walgreens will buy 1,932 Rite Aid stores, three distribution centers and related inventory in an all-cash deal of around $4.375 billion. The company is carrying out the transfer of assets in a phased manner.
Bristol-Myers Squibb Company BMY announced new data from a cohort of the phase II CheckMate -142 study on Opdivo.CheckMate-142 study is an ongoing study evaluating Opdivo (nivolumab) and Yervoy (ipilimumab) for previously treated patients with DNA mismatch
Biotech stocks have been moving north of late, largely driven by a spate of deal news. Corporate taxes, in the meantime, will be trimmed and price gouging fears have ebbed, which bode well for biotech companies. Banking on such positives, investing in sound biotech stocks seems judicious.
Blackstone Vice Chairman Byron Wien gives his 2018 projection for the Fed, markets and overall U.S. economy.
Enbridge Inc. ENB and Spectra Energy Partners, LP SEP announced execution of a definitive agreement. The transaction led to the conversion of Enbridge’s incentive distribution rights (IDRs) and general partner (GP) economic interests in Spectra Energy
Ray Dalio, Bridgewater Associates founder, chairman and chief investment officer, breaks down his market outlook.
Goldman Sachs’ private wealth management advisors are telling its wealthiest clients that stocks are not in a bubble and that the bull market likely continues. “We recommend that clients stay invested in equities notwithstanding currently high valuations and the constant cascade of warnings that we are in an equity bubble.
Let’s check out the Yahoo Finance charts of the day. Netflix (NFLX): Shares are soaring to a new all-time high, up about 10% in early trading. In it’s latest earnings report, the video streaming service said it added 8.3 million new subscribers last quarter
Nearly half (47%) of millennials have $15,000 or more in savings and 16% have $100,000 or more in savings, according to Bank of America’s “Better Money Habits” report, which surveyed 2,000 millennials aged 23 to 37. That’s an encouraging improvement for this struggling generation, which is saddled with record student loan debt and has a hard time affording a first house. In 2015, just one-third of millennials said they had $15,000 or more saved and only 8% had $100,000 or more stashed away for a rainy day. Millennials are also just as likely to budget than both Generation X-ers and baby boomers, the study found. Here are some other findings: • The majority of millennials are saving (63%), and
Apple Inc. AAPL is reportedly bringing HomePod, a smart speaker integrated with Siri and aimed at the home automation market, in February. Taiwan-based Inventec, one of the two component suppliers of the smart speaker, made the announcement. Foxconn Technology Group is the other supplier. Apple’s launch of HomePad will help it take on other smart speakers like Amazon’s AMZN Echo and Alphabet’s GOOGL Google Home launched more than three years and one year ago, respectively.
Procter & Gamble Co. (PG) released its most recent quarterly results before the markets opened on Tuesday. The company posted $1.19 in earnings per share (EPS) and $17.4 billion in revenue, compared with consensus estimates from Thomson Reuters that
Puerto Rico's governor said on Monday he intends to sell off its troubled power utility to the private sector, saying the process could take roughly 18 months to complete. The Puerto Rico Electric Power Authority (PREPA) has yet to recover fully from the devastation wrought by Hurricane Maria, which in late September knocked out power to the entire island and left all 3.4 million residents of the U.S. territory in the dark and killed dozens of people. "The Puerto Rico Electric Power Authority (PREPA) has become a heavy burden on our people, who are now hostage to its poor service and high cost," Governor Ricardo Rossello said in a statement.
Oil rose more than 1 percent on Tuesday, with benchmark Brent crude hitting $70 a barrel for the first time in a week, boosted by healthy world economic growth prospects and expectations for continued production curbs by OPEC, Russia and their allies. U.S. West Texas Intermediate (WTI) crude futures closed up 90 cents to $64.47 a barrel, for a gain of 1.4 percent. Brent crude futures settled up 93 cents, or 1.4 percent, to $69.96, not far off the three-year high of $70.37 reached on Jan. 15.
AT&T Inc. T recently requested for Special Temporary Authority (STA) from the Federal Communications Commission (FCC) to conduct 5G tests using the 28 and 39 GHz frequency bands at Hyatt hotel in Dallas.Commencing on Feb 1, 2018, the trial will continue
JPMorgan announced Tuesday that it will boost wages, open new branches and hire thousands of new workers, citing improved economic performance and sweeping changes to the U.S. tax code. While JPMorgan Chase is the nation's largest bank by deposits and assets, its branch network is only found in 23 states and it does not serve large markets such as Washington, D.C. or Boston. A major branch expansion will likely include going into these markets.
Atlanta and Raleigh top the list of potential second headquarters for Amazon.com (Nasdaq: AMZN). That is according to GBH Insights, a technology marketing and research firm. GBH lists the two Southern cities followed by Washington D.C., Boston and Austin as its top picks for Amazon HQ2, according to CNBC. Amazon announced its 20 finalists for the $5 billion headquarters Thursday. Los Angeles and Denver made the list but bids from Phoenix, Tucson, San Diego, Sacramento and Salt Lake City didn’t make the cut. • An East Coast location to complement its Seattle home base • Growth regions with engineering and college graduate talent pipelines • Strong technology and pharmaceutical sectors • A
The Philippine economy grew more than 6 percent for a 10th consecutive quarter, on rising consumption and government spending. Gross domestic product increased 6.6 percent in the fourth quarter from a year earlier, the Philippine Statistics Authority said in Manila Tuesday, after expanding 7 percent in the previous three months. The median estimate of 18 economists surveyed by Bloomberg was for growth of 6.7 percent.
The U.S. Circuit Court of Appeals for the Federal Circuit affirmed a ruling by a U.S. administrative court that a J&J patent covering the active ingredient in Remicade was invalid because its concepts were covered in a prior J&J patent. Remicade generated U.S. sales of $4.8 billion for J&J in 2016 but it faces increased competition from cheaper "biosimilar" copycats, including Pfizer's version, which is sold in the United States under the name Inflectra.
Though investors are sharply divided about the viability of cryptocurrencies over the long term, there is no denying that some savvy individuals were able to make an astronomical amount of money speculating on virtual currencies over the past several years. At the same time, though, it's easy to feel as if you are too late to cash in on the cryptocurrency craze, particularly if you didn't first buy bitcoin when it first came out several years ago. That being said, there are new digital currencies all the time, and while the top cryptocurrencies like bitcoin have grown to prohibitively high prices for some investors to make major inroads, there are new alternative coins which may be promising.