U.S. retail sales unexpectedly fell in June for a second straight month, which could temper expectations of strong acceleration in economic growth in the second quarter. The Commerce Department said on Friday retail sales fell 0.2 percent last month, weighed down by declines in receipts at service stations, clothing stores and supermarkets. Americans also cut […]
Read moreJPMorgan upgraded shares of Boeing, which are up 33 percent for 2017 through Thursday, saying the stock is still cheap and the aerospace leader will benefit from many industry tailwinds this year. “BA is among the stocks best positioned to benefit from positive aero fundamentals,” wrote JPMorgan’s Seth Seifman in Friday’s note. “BA is consciously […]
Read moreCheck out which companies are making headlines before the bell: JPMorgan Chase – The bank reported second quarter earnings of $1.82 per share, beating estimates of $1.58 a share. Revenue also came in above forecasts. The bank’s results were helped by lending, although trading results were lower. Wells Fargo – Wells Fargo reported quarterly profit […]
Read moreWal-Mart is “as well positioned as any mass market retailer — in an admittedly imperfect world for mass market retailers,” Goldman Sachs wrote in a Friday note to clients. The investment bank upgraded Wal-Mart to buy from neutral, also adding the stock to Goldman’s so-called Conviction List, with an $84 price target. Wal-Mart shares closed […]
Read moreVisa is hoping to extend its “war on cash” agenda to businesses in the U.K. after announcing new incentives for U.S. businesses to go cashless. The payment technology company revealed on Wednesday that it was launching a “cashless challenge” which would see 50 U.S. businesses receive $10,000 each to help them convert to a cashless […]
Read moreCurrency, United States Finance
Fears over a government collapse leave investors weighing chances of another UK election
Despite weathering a particular nasty political storm in recent months, U.K. leader Theresa May and her weakened government still has many market participants on edge with the potential for another election still a distinct possibility. According to Joan Hoey, the Economist Intelligence Unit’s regional director for Europe, there is “considerable risk of the (U.K.’s) government […]
Read moreFormer Microsoft CEO Steve Ballmer said Friday he can see why investors could be worried the stock market is in a bubble. “Are we in a market bubble or not? I don’t know. I’m silent on it. Where multiples are, etc., you could be a little worried,” Ballmer said on CNBC’s “Squawk Box.” “I killed […]
Read morePop singer Beyonce posted the first photo of her twins on Instagram early Friday, getting 1.7 million “likes” in just one hour. “Sir Carter and Rumi 1 month today,” Beyonce said in the description on the social media website. By 7:30 a.m. ET Friday, the post had gained over 5 million “likes,” 5½ hours after […]
Read moreShares of social media firm Snap were downgraded for a second time this week Friday, adding to an already dismal trading week for the stock. Analysts at Cowen lowered their rating to market perform from outperform and cut their price target to $17 a share from $21. John Blackledge, an analyst at Cowen, said the […]
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Trader Todd Gordon sees more record highs ahead for stocks, and he’s got the charts to back him up on it. The TradingAnalysis.com founder says the S&P 500 will move higher and finally break through the relative quiet of the past few months. “I think the consolidation is about over, as we’re heading into earnings […]
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