When it comes to the stock market, the four walls of the spreadsheet matter far more than the walls of the White House, Jim Cramer proclaimed to his Mad Money viewers Wednesday. The chaos in Washington might have lasting effects for our country, but when it comes to the financial markets, the sales and profits of individual companies will always rule the day. That's why stocks were able to end the day higher, even as President Donald Trump's advisory panels collapsed, devolving into a war of words on Twitter (TWTR) between Trump and various CEOs. In the end, Cramer said what matters to stocks are sales and earnings, as well as low interest rates, slow inflation and a weakening U.S. dollar. The
Stocks opened on the advance Wednesday, despite some weak early housing data, as the Nasdaq and S&P 500 looked to revive their rebounds stalled on Tuesday. XAutoplay: On | Off The Nasdaq Composite and the S&P 500perked up 0.3% at the starting bell. The Dow Jones industrial average added 0.2% above fair value. Housing starts and building permits fell off sharply in July, the Commerce Department reported, with starts slipping to an annualized rate of 1.155 million in the normally busy summer season, down from a rate of 1.215 million in June and disappointing forecasts for an increase to 1.225 million. Building permit activity slowed to an annualized rate of 1.223 million, vs. June's 1.254 million
U.S. telecom behemoth AT&T Inc.’s T DirecTV deceptive advertising lawsuit filed by the Federal Trade Commission (FTC) in Mar 2015, is currently on trial in the federal court. The trial became functional from this Monday with opening arguments in U.S. District Court in Oakland, CA, and is scheduled to last 20 days. FTC lawyer Jacob A. Snow clearly pointed out that 33 consumers were deceived by the company during the span of 2007-2015. As a result of sign-ups and deceptive practices, DirecTV is estimated to have made $3.95 billion.