Emerging-market currencies had their best weekly gain since July 2017 lat week and stocks strengthened for a fourth consecutive week as major central banks adopted a more dovish stance, improving investors appetite for risk assets. Bonds also gained, with yields on local government notes nearing an all-time low as the drumbeat for an interest rate cut in the U.S. got louder. Read here, our emerging-market week ahead story.
Reuters first reported that the Eldorado proposal would value Caesars at $13 a share, some 30% higher than its Friday closing price and nearly double where the iconic casino operator's stock was trading at the start of the year. The combined equity value of the two casino operators would be in the region of $12.7 billion, according to figures from the Reuters report, giving the deal an enterprise value of $18 billion once debt from both companies is included. The possible merger, which could be announced as early as today, comes amid pressure from activist investors Carl Icahn, who boosted his stake in the group to 17.75% earlier this year, to push for either a sale or the merger of the group.
Some New York City landlords are being forced to re-evaluate their businesses, as a new law could leave many properties worth less than their mortgages and put building owners at risk of default.
All personal finance books harp on why it's critical to save for retirement. Brokerage firms publish studies about how much people are saving for retirement. OK, I get it: You're putting money aside for the future and letting it accumulate as a reserve, which is the very definition of saving.
Gold ETFs, widely regarded as safe havens when equities are expected to fall, are soaring in tandem with the precious metal itself even as stocks reach record highs. The SPDR Gold Shares ETF (GLD), VanEck Vectors Gold Miners ETF (GDX), SPDR Gold Minishares Trust (GLDM), iShares Gold Trust ETF (IAU) and the GraniteShares Gold ETF (BAR) have all taken off over the past month as gold reaches highs not seen since 2013, according to Barron's. All eyes will be on U.S. President Donald Trump and Chinese President Xi Jinping as the two leaders are expected to meet at some point during the G-20 summit, which is set to kick off Friday in Japan.
A bunch of big companies have agreed to pony up $10 million each to take part, and it is easy to see why: On some reasonable-sounding assumptions about its takeup, it could be insanely profitable in real money, too.
Dhiraj Relli, chief executive officer at HDFC Securities, discusses Indian stocks and where he's putting his money. He speaks on “Bloomberg Markets: Asia. Corrects guest's title in headline.
JP Morgan has just held its fourth annual Energy Conference in New York with ~140 energy companies participating. Luckily for investors, following the conference, the firm revealed its top energy stock picks to buy now. Note that two of these stocks also boast a 'Strong Buy' consensus from the Street.
Opposition candidate Ekrem Imamoglu won the redo of the Istanbul mayor's race by a landslide, which suggests President Recep Tayyip Erdogan's AK Party won't challenge the result again. The original vote in March had been overturned after the ruling AK Party narrowly lost, fueling concerns that Turkey's democratic foundations were fraying and spurring a drop in the lira. While the market is rightly welcoming the fact the results of this election won't be contested, investors will be looking for answers for what comes next, said Inan Demir, an economist at Nomura Plc in London.
Dow Jones futures rose slightly Monday morning, along with S&P 500 futures and Nasdaq futures. The stock market rally had a strong week on hopes for Fed rate cuts and China trade talks. President Donald Trump and Chinese President Xi Jinping meet later this week.
Koch Industries was founded by Fred Koch in 1940 and is majority owned by his sons, better known as the Koch Brothers—David and Charles, with each owning 42% of the company. David, 79 years old, stepped down from his role with the company in 2018 due to health issues, while Charles, 83, remains Chairman and CEO. Koch Industries is the second-largest privately held company in the U.S., per Forbes annual rankings, generating $110 billion in annual revenues.
Manufacturing the stone-like building material is responsible for 7% of global carbon dioxide emissions, more than what comes from all the trucks in the world. After wresting deep cuts from the energy industry, policymakers looking to extend the fight against global warming are increasingly focusing on construction materials and practices as a place to make further reductions. “There is so far too little demand for sustainable materials,” said Jens Diebold, head of sustainability at LafargeHolcim.
Gene, as he's known in English, is estimated to be worth about $830 million through his stake in Fila Korea Ltd., which acquired the global Fila brand in 2007 in what South Korean media called a shrimp swallowing a whale. Yoon went on to oversee a revival in Fila's fortunes, sending shares of his company surging. Central to Fila's comeback was its move to bring back iconic products from the '90s, targeting shoppers craving classic looks.
With its startup consumer bank Marcus, Goldman Sachs (GS) wants to disrupt banking the way Amazon (AMZN) disrupted retail and and Apple (APPL) upended music. Specifically, the 150-year old bank's goal is to transform "the distribution and consumption experience of financial services," according to Harit Talwar, the head of global consumer business for Goldman Sachs. The diapers she buys at Walgreens or the diapers she buys at Amazon are the same diapers,” Talwar explained Yahoo Finance last week, on the sidelines of the Fortune Brainstorm Finance event in Montauk, New York.
The volatility of the SPDR S&P 500 ETF Trust (NYSE:SPY) so far in 2019 is enough to highlight just how unpredictable the S&P 500 can be. Inflation-adjusted, trailing 20-year compounded returns for the S&P ranged from 0.6% to 4.3% from 1948 to 1951. The S&P 500 doubled during World War II, and it doubled roughly every 4.3 years from 1942 to 1962 for a trailing compounding average return of 16.7%.
The Monday Market Minute U.S. stocks look to extend gains this week, and possibly re-test all-time highs, as investors bet on both central bank support and a breakthrough in trade talks between Washington and Beijing. Global gains were tempered, however, by rising military tensions between the U.S. and Iran, as well as the threat of "significant" sanctions on Tehran following last week's downing of an unmanned U.S. military drone. European Stocks open flat, with a surprise profit warning from Daimler and a stronger euro holding down gains for regional benchmarks.
Slack, the popular workplace messaging platform, closed its first trading day at $38.62 per share, 48.5% above the reference price of $26 per share set in its direct listing. Shares closed down 3.63% to $37.22 on Friday. In a typical IPO, there's a lockup period of between 90 to 180 days when insiders -- including employees, executives, directors and in many cases investors -- may not sell their shares.
This was one of the most significant weeks for cannabis in recent history, as the U.S. House of Representatives voted in favor of an amendment that would stop the federal government and its agencies from interfering with legal cannabis programs, individuals and businesses in compliance with state, territorial or tribal cannabis laws. “Meanwhile, the cannabis industry isn't waiting for regulators to catch up,” as proven by investments exceeding $1.3 billion through the first half of the year, Eneman said.
The company reported revenues for Q1 2019 at $26.8 million, for a 39% year-over-year gain, and a 44% year-over-year gain in customer bookings. Wall Street's analysts are impressed, by both the company's prospects and its recent history. ASUR shares are up more than 50% year-to-date, and the company's revenue guidance represents an 18% increase over FY18.
Danske Bank A/S said Monday that it had dismissed Jesper Nielsen, head of banking in Denmark, after it emerged that tens of thousands of domestic customers were improperly charged. Nielsen, 50, ran the bank as interim CEO following the $230 billion dirty-money debacle and was tipped as a potential permanent leader before Danske picked Chris Vogelzang, a former ABN Amro banker, for the top job. Nielsen “did not to a sufficient degree ensure that the Flexinvest Fri product was suitable for the bank's customers,” Chairman Karsten Dybvad said in a statement.
The major U.S. stock market averages gained 2% to 3% across the board this week, as the S&P 500 index set a new record high on Thursday. Rates Likely Headed Lower The FOMC held firm with interest rates on Wednesday, but traders are saying it's just a matter of time before the Fed reverses its controversial rate hike from last December. Fed funds futures are now pricing in a 100% chance of a rate cut at the next meeting on July 31, up from just 18% a month ago.
The two leaders will be holding an “extended” meeting to discuss trade. Consensus among analysts remains that no significant deal will be reached at the meeting, and thus, it is still very likely that the next round of U.S. tariffs on Chinese imports will be imposed. Even if both leaders decide to resume the talks, there are too many bridges to be crossed to get a deal quickly,” ING wrote in a note Friday.
Making investment decisions based on seasonal proverbs could squash your 401(k) retirement savings. U.S. stocks dropped more than 6% last month – their worst May since 2010 and second-worst since 1962. That sour four-week stretch seemed to prove the old adage, “Sell in May and go away.
In that light, the incredible bullishness that's driven Roku stock price higher by more than 600% since its 2017 IPO isn't all that shocking. Monthly Dividend Stocks to Buy Today If you missed the boat thus far though, now's not the time to jump into Roku stock. While it feels like the 300% advance of Roku stock price just since the end of last year is never going to stop, the fact of the matter is, big swings are the norm for this name.
Roth vs. Traditional IRA A traditional IRA allows an individual to defer the income tax owed on the portion of income that is saved for retirement. If the person is saving through an employer plan, the money is deducted from pre-tax salary. The self-employed can open an IRA account and contribute pre-tax income to it.