Concerns over Italy‘s political tug of war could spill into the U.S. stock market by way of a strengthening dollar, B. Riley FBR’s Mark Grant told CNBC on Wednesday. “We’re just at the beginning of the commotion” in Rome, said the veteran strategist, referring to whether Italy might ultimately seek to leave the euro, causing […]
Read moreMajor bank stocks tumbled on Tuesday due to political turmoil in Italy, sparking worries about the prospect of another eurozone crisis. Shares of J.P. Morgan Chase, Bank of America, Morgan Stanley and Citigroup all fell 4 percent or more on Tuesday. But Jefferies believes the decline in financial sector shares is a good buying opportunity […]
Read moreChinese President Xi Jinping said in a speech this week that blockchain — the technology underlying bitcoin — has “breakthrough” applications. “A new generation of technology represented by artificial intelligence, quantum information, mobile communications, internet of things and blockchain is accelerating breakthrough applications,” he said Monday, according to a translation of his remarks. Xi also […]
Read moreDick’s Sporting Goods shares jumped 23 percent at the market’s open Wednesday after it beat first-quarter expectations and hiked its full-year earnings forecast, easing concerns that restrictions it placed on gun purchases would hurt its sales. The retailer reported $60.09 billion in net income, or 59 cents per share, topping analysts polled by Thomson Reuters’ […]
Read moreInvestors who spread funds among two or more financial advisors to gain diversification or protect against another Bernie Madoff may actually increase their risk of poor returns. That’s according to financial advisors who declare that being faithful to one of their number is part of investing best practices. Convincing clients not to stray is a […]
Read moreMore than two-thirds of people around the world work away from the office at least once every week, according to researchers. A study released Tuesday by Luxembourg-based serviced office provider IWG found that 70 percent of professionals work remotely — a phenomenon known as telecommuting — at least one day a week, while 53 percent […]
Read moreWalmart has been churning out a lot of ideas behind the scenes. The big box retailer recently published a slew of patent filings that could reshape the shopping experience as we know it. While there’s no guarantee any of these ideas will actually be brought to life, they offer a glimpse into Walmart’s vision for […]
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After a big sell-off on Wall Street, charts expert Ralph Acampora sees the latest unsuccessful rally as the possible beginning of a bear market. “Failed rallies are anathema to the stock market,” Acampora, director of technical research at Altaira Capital Partners, told CNBC’s “Futures Now” on Tuesday. To Acampora, the S&P 500 closing below 2,700 […]
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Profitability at parts of AK Steel remains limited, according to Goldman Sachs, despite support from President Donald Trump’s aggressive tariffs on foreign steel. The bank downgraded shares to sell from neutral on Wednesday citing increased competition within its core automotive U.S. business . “AK Steel shares are now trading below their level from early November […]
Read moreInterest rates are rising. Sell your REITs! That’s the usual knee-jerk reaction of investors when the economic cycle is getting old and the Federal Reserve Bank is raising interest rates. True to form, real estate investment trusts were clobbered in February after the Fed hiked short-term rates again and the 10-year Treasury bond yield spiked […]
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