The S&P 500’s daily price chart this year looks “eerily” like that of 1987, but that’s about the only similarity between the market then and now, one of Wall Street’s longtime market strategists pointed out. “Indeed, when comparing the daily index levels for the S&P 500 in 1987 with the progression thus far in 2017, […]
Read moreGoogle‘s AI subsidiary DeepMind has unveiled the latest version of its Go-playing software, AlphaGo Zero. The new program is a significantly better player than the version that beat the game’s world champion earlier this year, but, more importantly, it’s also entirely self-taught. DeepMind says this means the company is one step closer to creating general […]
Read moreChinese President Xi Jinping wants to take advantage of what he believes is the waning influence of the United States around the world under President Donald Trump, said Nicholas Burns, whose 27-year career in diplomacy spanned both Republican and Democratic administrations. Xi is consolidating power at a “very consequential” meeting of communist officials being held […]
Read moreTech companies such as Amazon, Microsoft and Cisco are spending more on lobbyists to make their case about the North American Free Trade Agreement, as negotiations about the future of that trade deal heat up. Trade negotiators have said that they will schedule talks on revamping NAFTA into next year. The tech industry has a […]
Read more“Big Blue” is having a big week. Shares of IBM surged over 9 percent on Wednesday after the company reported better-than-expected earnings. The move lifted the Dow to record highs and would represent the most positive earnings reaction for the tech giant since 2002. It would also mark only the third time in the last […]
Read moreThe Trump administration, bent on deregulation from the start, has now completed wholesale repeal of the “Mnuchin Rule.” It happened in an interview with Treasury Secretary Steven Mnuchin that Politico published Wednesday. Faced with economic analyses showing the White House plan to cut corporate and personal income taxes provides big gains for wealthy Americans, Mnuchin […]
Read moreThe bond market is warning that trouble could be on the horizon, either from an economic slowdown or an eventual recession. The yield curve, a set of interest rates watched closely by bond market pros, has gotten to its flattest level since before the financial crisis. The spread between 2-year note yields and 10-year yields […]
Read moreThe Saint Regis Mohawk Tribe, which captured headlines last month for its unusual patent deal with drugmaker Allergan, is doubling down in the patent space, Wednesday filing lawsuits against Microsoft and Amazon claiming patent infringement. The tribe is a co-plaintiff with small tech firm SRC Labs, which claims the tech giants have been infringing its […]
Read moreBitcoin tanked Wednesday after indications of greater scrutiny from U.S. regulators. The digital currency fell nearly $500, or about 8.7 percent to a low of $5,109.70, according to CoinDesk. That marked the digital currency’s lowest level since Thursday, October 12, according to CoinDesk. Bitcoin hit a record high above $5,800 Friday. The U.S. Commodity Futures […]
Read moreThe slippage in the U.S. 10-year Treasury yield may reflect investors’ expectations of slower long-term domestic economic growth rather than looser financial conditions, Dallas Federal Reserve President Robert Kaplan said on Wednesday. “That is not a sign of easy financial conditions,” he said of the benchmark U.S. yield which has fallen nearly 10 basis points […]
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