The number of Americans filing for unemployment benefits fell to near a six-month low last week, pointing to a further tightening in the labor market that could encourage the Federal Reserve to lay out a plan to start unwinding its massive bond portfolio. Initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted […]
Read moreThe “Fast Money” traders shared their first moves for the market open. Tim Seymour and Dan Nathan were a buyers of Disney. Brian Kelly was a buyer of silver. Guy Adami as a buyer of Cisco. Trader disclosure: On August 16, 2017, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s […]
Read moreThe markets would crash if top White House economic adviser Gary Cohn resigns, Yale School of Management’s Jeffrey Sonnenfeld told CNBC on Thursday. “I don’t want to be an alarmist, but there is a lot of faith that he is going to help carry through the tax reform that people are looking for,” Sonnenfeld said […]
Read moreThere is new evidence that raising the minimum wage pushes business owners to replace low-skilled workers with automation. And it shows that old, young, female and black low-skilled workers face the highest levels of unemployment after a minimum wage increase. Economists Grace Lordan of the London School of Economics and David Neumark of UC Irvine […]
Read moreAfter a rough year so far, Target shareholders may have some hope, according to one Wall Street firm. MKM Partners raised its rating on the retailer to buy from neutral, citing the company’s successful online and new store format initiatives. Target is “looking like a better competitor to Amazon,” analyst Patrick McKeever wrote in a […]
Read moreThe four largest cell phone carriers in the U.S. are all deploying several portable cell towers to step up coverage for the massive crowds expected to gather during the solar eclipse. Verizon, AT&T, Sprint and T-Mobile will all be sending mobile cell phone units to towns, many of them in rural areas, where they expect […]
Read moreThe smart money got this one right. Alibaba shares are surging Thursday as the Asian e-commerce giant reported better than expected earnings results. Some of the biggest names in hedge funds bought Alibaba shares in the June quarter, according to required 13F filings with the Securities and Exchange Commission for the June quarter. The company […]
Read moreTensions in Washington may not derail an important piece of legislation that could drive stocks further into record territory, according to the manager of $400 billion in assets. Eaton Vance’s Eddie Perkin is betting that the Trump tax cuts will become a reality, and he’s positioning his portfolio to cash in on it. “There is […]
Read moreCheck out which companies are making headlines before the bell: Wal-Mart – The retail giant reported adjusted quarterly profit of $1.08 per share, a penny a share above estimates. Revenue was also ahead of Street forecasts. Comparable-store sales in the U.S. were up 1.8 percent, in line with estimates, and Wal-Mart raised the lower end […]
Read moreAlibaba, China’s top e-commerce firm, beat analyst’s estimates with a 56 percent rise in first-quarter revenue, driven by growth in online sales which make up most of its business. Thursday’s results show that Alibaba, one of Asia’s most valuable companies, is benefiting from more and more Chinese buying an increasing proportion of everything from food […]
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