The U.S. dollar index fell to a three-year low Wednesday and looks set for more declines after Treasury Secretary Steven Mnuchin said a weak dollar was good for U.S. trade. The dollar index is now down 10 percent in the past year and broke below the key 90 level after Mnuchin’s remarks. According to Kensho, […]
Read moreThe stock market is having its best start to year in more than three decades. Based on historical evidence, that spells even more gains for the rest of 2018. When the S&P 500 posts a return of at least 5 percent by Jan. 23, the index’s median return for the rest of the year has […]
Read moreFrench President Emmanuel Macron has said that globalization is facing a “major crisis” and that collective action is needed to confront the challenge. “Let us not be naive, globalization is going through a major crisis and this challenge needs to be collectively fought by states and civil society in order to find and implement global […]
Read moreBarely 16 trading days into the new year, the stock market literally already has exceeded many expectations for its 2018 performance. With its rise in early trading Wednesday, the S&P 500 has topped no fewer than seven full-year forecasts. That’s come as the index has registered a gain of better than 6.5 percent so far […]
Read moreInvestors who were patiently waiting for a stock pullback are finally giving up and are buying anyway, closely followed trader Art Cashin told CNBC on Wednesday. U.S. stocks were higher Wednesday after strong-than-expected quarterly earnings reports before the bell. The S&P 500 and Nasdaq have both risen in 12 of the past 15 sessions, and […]
Read moreAt least one governor of a state still in the running for Amazon‘s second headquarters is ambivalent about winning the final bid. Colorado Governor John Hickenlooper said he’s “not going to cry” if Amazon chooses another of the 20 finalist metro areas over Denver, according to The Denver Post. “There will be a sense of […]
Read moreGoldman Sachs Chairman and CEO Lloyd Blankfein did not totally shun bitcoin in Wednesday’s CNBC interview from Davos, “Mad Money” host Jim Cramer said. “I think it was important to parse what Lloyd said,” Cramer reflected. “[Blankfein] said customers who want to be involved with bitcoin … we will do business” on some level. Blankfein […]
Read moreCurrency, United States Finance
Pakistan wants to reconcile its widening rift with the US — but there's one major problem
President Donald Trump‘s much-anticipated speech at the World Economic Forum (WEF) is unlikely to do anything to improve bilateral relations with Islamabad, Pakistan’s foreign minister told CNBC on Wednesday. Speaking at WEF in Davos, Switzerland, Khawaja Muhammad Asif said: “Frankly speaking, we are a bit apprehensive from what we have been hearing from over the […]
Read moreGeneral Electric warned on Wednesday that 2018 will be another challenging period for GE Power and could shape up to be an even worse year than expected for the embattled business unit. GE’s power unit, which focuses on selling and servicing equipment to power plants, is one of three units the conglomerate is focusing on […]
Read moreCurrency, United States Finance
Lebanese Prime Minister Saad Hariri says his relationship with Saudi Arabia is 'at its best'
Lebanon’s Prime Minister Saad al-Hariri has said he has “no worries” about his relationship with Saudi Arabia. Hariri resigned in November last year, accusing Iran of an assassination plot against him. He then traveled to Saudi Arabia. His stay in Saudi Arabia drew criticism from many who felt Saudi Arabia had manipulated the situation and […]
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