An underlying trend may be insulating the market from a sustainable decline. Based on charts of the S&P 500, Nasdaq and Russell 2000, the Bespoke Investment Group’s Paul Hickey used a technical indicator called the advance/decline line to show market breadth is positive — a sign that supports expectations of higher stock prices. “What you […]
Read moreCheck out the companies making headlines before the bell: Kroger – The supermarket operator beat forecasts by 10 cents a share, with adjusted quarterly profit of 73 cents per share. Revenue beat forecasts, as well. Same-supermarket sales excluding fuel rose 1.4 percent from the prior year. AT&T – AT&T unveiled a $15 per month video […]
Read morePivotal Research Group became on Thursday the second Wall Street research firm to slap a $500 price target on Netflix this week as analysts’ love for the stock hits a fever pitch. Analyst Jeffrey Wlodarczak raised his 12-month price target on the video-streaming giant to $500 from $420 per share. Wlodarczak’s new price target implies […]
Read moreCurrency, United States Finance
The Swiss National Bank (SNB) has said it is prepared to intervene in currency markets if it deems that the Swiss franc has gained too much strength. The central bank kept its main borrowing rate in negative territory Thursday as it acknowledged the risks of global trade friction and political change in Italy. Since April, […]
Read moreCurrency, United States Finance
De-facto OPEC leader Saudi Arabia is pushing for the 14-member oil cartel to increase crude production by 1 million barrels per day (bpd) this week. Saudi Arabia’s Energy Minister Khalid al-Falih said Thursday that as the world is likely to face a large oil supply deficit in the second half of 2018, a substantial production […]
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GE got dealt a major blow this week after getting the boot from the Dow. This looks like a buy to investors with the stomach to endure a bumpy recovery, says one market watcher. “I would be a buyer, but with a caveat,” Boris Schlossberg, managing director of FX strategy at BK Asset Management, told […]
Read moreAt first glance Sami Inkinen, an elite triathlete and co-founder of the real estate company Trulia, and Rita Perkins, a grandmother of eight in central Pennsylvania, have little in common. But they do share one thing: Both have grappled with diabetes. “I thought, This is absolutely nuts,” Inkinen recalled of his diagnosis with prediabetes. “It […]
Read moreAT&T will launch two new unlimited wireless plans next week that will be bundled with a new video streaming service called WatchTV, in the company’s first move to pair entertainment with phone service after closing its $85 billion acquisition of media company Time Warner. The No. 2 U.S. wireless carrier is putting to use Time […]
Read moreChina’s commerce ministry on Thursday accused the United States of being “capricious” over bilateral trade issues, and warned that the interests of U.S. workers and farmers ultimately will be hurt by Washington’s penchant for brandishing “big sticks.” Previous trade negotiations with the United States were constructive, but because the U.S. government is being unpredictable and […]
Read moreChinese smartphone maker Xiaomi has lined up $548 million from seven cornerstone investors including U.S. chipmaker Qualcomm, for its Hong Kong initial public offering of up to $6.1 billion, according to a term sheet seen by Reuters. Xiaomi, which also makes internet-connected devices, has set a price range of HK$17 to HK$22 ($2.17 to $2.80) […]
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