Oppenheimer Asset Management’s John Stoltzfus is finding himself in an unusual situation. The S&P 500 has already closed above his bullish 2017 price target, and it’s not even the second half of the year. “We think there’s likely opportunity for us to raise it,” the firm’s chief investment strategist said Monday on CNBC’s “Trading Nation.” […]
Read moreThe U.S. economy needs tax reform, infrastructure spending and better regulations to make sure the benefits of expansion hit everyone, according to the International Monetary Fund. Without mentioning President Donald Trump by name, the IMF’s recommendations dovetail for the most part with the White House’s economic goals. “The U.S. economic model is not working as […]
Read moreShares of Darden Restaurants jumped Tuesday after the company posted better-than-expected fiscal fourth-quarter earnings. The company said it earned $1.18 per share ex-items on revenue of $1.94 billion. Analysts had expected earnings per share of $1.15 on revenue of $1.87 billion, according to Thomson Reuters. In premarket trading, Darden shares were up 2.3 percent. At […]
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After three years of huge losses, a large exchange-traded fund tracking Spanish stocks, the iShares MSCI Spain Capped ETF, has risen 23 percent this year. With the European economic outlook strengthening, some strategists see further gains in the exchange-traded fund. The market-weighted fund, heavily skewed toward the financial sector, covers the top 85 percent of […]
Read moreShares in Russian business conglomerate Sistema slumped by as much as 17 percent early on Tuesday, after a Russian court froze some of its assets as part of a legal dispute with oil company Rosneft. Rosneft is suing Sistema for 170.6 billion roubles ($2.9 billion) in damages following its purchase of oil producer Bashneft last […]
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Merck said Tuesday its cholesterol drug Anacetrapib met its primary goal in a study, significantly reducing coronary heart disease. Shares of the pharmaceutical company spiked more than 3 percent in premarket trade and were last trading about 1.6 percent higher. Results of the study on 30,000 individuals will be presented on Aug. 29 at a […]
Read moreCurrency, United States Finance
Some FANG stocks are still undervalued, says Salesforce CEO Marc Benioff
Salesforce Chief Executive Marc Benioff told CNBC on Tuesday that despite an unprecedented rally among high-growth technology giants, some FANG stocks still remain undervalued. The so-called FANG technology stocks refer to Facebook, Amazon, Netflix and Google (through parent company Alphabet). Some investors also recognize Apple as an additional ‘A’ to the FANG acronym. “I think […]
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The summer doldrums appear to have hit stocks, but one trader has a way to play the slow, quiet market. While the S&P 500-tracking ETF (SPY) has moved into a “June consolidation,” Todd Gordon of TradingAnalysis.com believes that SPY can still break out of its trading range to move higher. But low implied volatility in […]
Read moreU.S. Commerce Secretary Wilbur Ross has at the last minute pulled out of a trip to Germany on Tuesday, the German economy ministry said, not giving a reason for the cancellation which comes at a time of friction with Washington over trade policy. He had been due to meet German Economy Minister Brigitte Zypries and […]
Read moreDALIAN, China — China kicked off the World Economic Forum’s annual summer meeting with a much-anticipated speech by Premier Li Keqiang, which offered a rare glimpse into what authorities are thinking about the world’s second-largest economy. But what China’s second-most powerful man didn’t say was just as important as what he did. Li’s Tuesday speech […]
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