|Bid||199.78 x 900|
|Ask||199.86 x 100|
|Day's Range||198.44 - 207.32|
|52 Week Range||198.44 - 275.31|
|Beta (3Y Monthly)||1.08|
|PE Ratio (TTM)||14.56|
|Earnings Date||Jan 16, 2019|
|Forward Dividend & Yield||3.20 (1.44%)|
|1y Target Est||273.65|
Yahoo Finance's Julie Hyman highlights today's stocks on the move in midday trading.
Stocks wavering during a volatile session as we head into the close. Plus - Goldman hops on the bandwagon and takes a swing at Apple. It's the Call of the Day. And - it's official - Amazon HQ2 awarded to two cities. BUT - there's also a consolation prize - we have the story. Plus - retail talk doesn't end there - we discuss Home Depot's blowout quarter, and a moment for world's largest retailer. Catch The Final Round at 3:00 p.m. ET with Jen Rogers, Myles Udland and Dan Roberts.
Financial stocks suffered broad declines Wednesday, weighed down by falling Treasury yields and worries about liabilities related to the California wildfires. The SPDR Financial Select Sector ETF dropped 2.4%, with all 67 equity components trading lower. The biggest decliner was Progressive Corp.'s stock , which tumbled 9.3%, although the insurer reported earlier net premiums written in October rose 18% from a year ago while net premiums earned increased 20%. Shares of fellow insurer Travelers Companies Inc. dropped 3.5% to pace the Dow Jones Industrial Average's decliners. The next biggest Dow losers were shares of Goldman Sachs Group Inc. , which shed 3.0% and J.P. Morgan Chase & Co. , which fell 2.9%. Meanwhile, the yield on the 10-year Treasury note declined 4.4 basis points to 3.101%, despite a big jump in consumer inflation. Falling long-term yields could hurt bank profits, as the spread between what the bank earnings on longer-term assets and what it pays on shorter-term liabilities narrows.
Futures in New York climbed as much as 3 percent on Wednesday following a record 12-day slump. Reuters reported OPEC and its partners are discussing a deeper-than-anticipated output cut. Meanwhile, cartel President Suhail Al Mazrouei said Wednesday that supplies will be curtailed as needed to balance the market.
With Democrats winning the House, Rep. Maxine Waters (CA) is expected to take over as chair of the House Financial Services Committee. Here is what she said today:
Goldman Sachs' Jeff Currie says Brent crude will bounce back and average $75 a barrel in the first quarter of 2019. Oil prices have tumbled more than 25 percent over the last six weeks, plunging the energy complex into a bear market. Currie says investor positioning and one particular trading strategy are largely responsible for deepening the oil price rout in recent days.
Marcus by Goldman Sachs® is now offering a No-Penalty Certificate of Deposit (CD), allowing consumers to earn a high rate with the freedom to withdraw their full balance beginning 7 days after account opening without any penalty. Marcus’ No-Penalty CD is the latest savings offering from Marcus, joining its high-yield Online Savings Account offering an annual percentage yield (APY) of 2.05% and traditional high-yield certificates of deposit. Marcus’ No-Penalty CD comes with no fees and no penalty for early withdrawal.
Buyout group Cerberus is in exclusive talks with NordLB to take on 2.5 billion euros (2.1 billion pounds) of non-performing shipping loans that the German public sector lender wants to shed ahead of a planned stake sale, sources close to the matter said. The divestment of the portfolio dubbed "Big Ben" is contingent on a deal that NordLB is aiming to strike in early December to shore up its balance sheet and cover writedowns on the value of any loans it sells. NordLB on Monday also received final bids for a second tranche of loans - worth roughly 4 billion euros and dubbed "Tower Bridge" - from Cerberus, private equity firm Lone Star and hedge fund Davidson Kempner, the sources said.
has faced many crises in its time but none more shocking than the case of Tim Leissner, its former senior partner in south-east Asia. Wall Street is supposed to bring transparency to emerging markets, not to make corruption easier. Mr Leissner, who has admitted to laundering money and bribery, was corrupted in spectacular fashion.