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
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.
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 .
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.
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.
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
Dow erases gains, drops 100 points as possible government shutdown looms 41 Mins Ago | 03:10 The stock market has incredible price momentum and broad participation but the challenges are "truly increasing," widely followed strategist Jim Paulsen told CNBC on Tuesday. In fact, he called the optimism of late "really overwhelming." "It's so striking because we haven't had it in the entire recovery. The wall of worry was probably the cornerstone of this bull market. … That is gone," the chief investment officer at the Lethold Group said in an interview with "Power Lunch." "That opens you up to the bear's bite," he added. The Dow Jones industrial average broke above 26,000 for the first time on
Discussing the current state of the markets with Chris Bertelsen, Aviance Capital Management; Kenny Polcari, O’Neil Securities; and CNBC’s Rick Santelli.
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.
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.
CNBC’s Phil LeBeau reports on comments from General Motors CEO Mary Barra on what the GOP tax reform bill means for the car-maker.
Celgene is in talks to buy biotechnology company Juno Therapeutics, The Wall Street Journal reported. Shares of Juno soared nearly 50 percent in premarket trading Wednesday on the report. The news comes less than a week after the biotech giant announced it would buy Impact Biomedicines for $7 billion. Both Impact and Juno offer drugs that could boost Celgene in the market for blood-cancer treatment. Celgene has been fighting to diversify its portfolio before its best-selling blood-cancer drug, Revlimid, loses patent protection, the Journal reported. Jefferies analysts called the potential acquisition "smart," because "the buyout would enable Celgene to integrate Juno's entire cell therapy platform
(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
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.
Swedish mobile network gear maker Ericsson booked an impairment of 14.2 billion crowns ($1.8 billion) in the fourth quarter, related primarily to goodwill in its digital and media operations, hitting operating income but not cashflow. "The majority of goodwill originates from investments made 10 years ago or more, and has limited relevance for Ericsson's business going forward," Ericsson said in a statement. Once the world's biggest manufacturer of mobile network gear, Ericsson has been hit by competition from Huawei [HWT.UL] and Nokia , while telecom operator spending has slumped ahead of the roll-out of next-generation 5G technology.
U.S. lawmakers are urging AT&T Inc, the No. 2 wireless carrier, to cut commercial ties to Chinese phone maker Huawei Technologies Co Ltd and oppose plans by telecom operator China Mobile Ltd to enter the U.S. market because of national security concerns, two congressional aides said. The warning comes after the administration of U.S. President Donald Trump took a harder line on policies initiated by his predecessor Barack Obama on issues ranging from Beijing's role in restraining North Korea to Chinese efforts to acquire U.S. strategic industries.
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
The Consumer Financial Protection Bureau has decided to reconsider a key set of rules enacted last year that would have protected consumers against harmful payday lenders. The bureau, which came under control of the Trump administration late last year, said in a statement Tuesday that it plans to take a second look at the payday lending rules. While the bureau did not submit a proposal to repeal the rules outright, the statement opens the door for the bureau to start the process of revising or even repealing the regulations.
U.S. stocks closed lower on Tuesday, pulling back from record highs set earlier in the session, as investors weighed the possibility of a government shutdown. The Dow Jones industrial average (Dow Jones Global Indexes: .DJI) ended 10.33 points lower at 25,792.86. The Dow also posted its biggest one-day reversal since Feb. 10, 2016.
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
Bitcoin had a rough run on Tuesday, Jan. 16, as regulation in Asia became a looming threat. Blockchain was a hot topic Tuesday as even the unlikeliest of players tossed their hats into the ring. Here are the crypto stories you can't miss from today. Bitcoin Regulation Pounds Prices Bitcoin plummeted as much as 20% Tuesday to a six-week low as investors became weary of regulation's imminent arrival in China and South Korea. Ethereum, Ripple and Bitcoin Cash joined the plunge, all falling noticeable in afternoon trading. The sharp decline in crypto prices followed a Bloomberg report that Chinese officials plan to further increase measures to limit cryptocurrency trading in the country. South Korean
As the market rallies, “volatility isn’t that low anymore,” Pravit Chintawongvanich of Macro Risk Advisors said in a report Tuesday, adding that the Cboe Volatility Index (VIX) curve is flattening. The VIX rose as much as 22 percent on Tuesday to as high as 12.41, the highest level in six weeks.