White House chief economic advisor Gary Cohn predicted Wednesday the stock market’s big run since the November 2016 election will march even higher. “I don’t think a lot of the tax reform is in the stock market,” Cohn said in an Axios interview. “If you look at what the tax plan is going to do, […]
Read moreFacebook’s growth from its new video product will boost the company’s shares, according to one Wall Street firm. Jefferies reaffirmed its buy rating for the social media giant, predicting the ‘Watch’ offering will drive significant sales and increased site use. “We think Facebook’s ‘Watch’ tab extends its reach into user’s video consumption. The ‘Watch’ tab […]
Read moreHe’s taken on President Donald Trump and the Federal Reserve. Now, libertarian former congressman Ron Paul is taking on bitcoin. According to Paul, cryptocurrencies have become an asset that rivals the bubble he sees in stocks. “I think it’s going to continue to do exactly what it’s doing. It’s going higher and it’s going lower,” […]
Read moreCurrency, United States Finance
France fines Johnson & Johnson about $30 million over painkiller patch
France’s competition authority fined U.S. health-care group Johnson & Johnson 25 million euros ($29.62 million) on Wednesday after it found the company had deliberately slowed market access to generic copies of its painkiller Durogesic. Durogesic is sold as a skin patch to control ongoing moderate to severe pain and is often prescribed in cancer cases. […]
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Despite a somewhat quiet few weeks for oil, trader Todd Gordon says there’s one trend in the charts that’s signaling a bounce for the commodity. The founder of TradingAnalysis.com is looking at a triangle pattern in particular that has formed in the chart of USO, the exchange-traded fund that tracks oil. Gordon noted that while […]
Read moreCanadian software maker BlackBerry reported third-quarter results on Wednesday that beat analysts’ forecasts, helped by an increase in business software sales and licensing revenue, sending its stock up more than 7 percent in premarket trading. The company reported adjusted earnings of 3 cents a share in the quarter ended Nov. 30, better than the average […]
Read moreSomething spooked homebuyers last week, and it wasn’t interest rates, because they fell. Even refinancers retrenched. Total mortgage application volume dropped 4.9 percent from the previous week, according to the Mortgage Bankers Association. Applications are now 8 percent lower than the same week one year ago. This is the slowest time of the year for […]
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The tax bill is almost done, so the debate is whether to sell on the news. It may be happening already. Stocks retreated on Tuesday, and even a notable move up in 10-year Treasury yields failed to move bank stocks up. There’s reason to consider that this month’s notable rally should at the very least […]
Read moreThe creator of litecoin has sold off all of his holdings in the cryptocurrency he created. Charlie Lee, who founded litecoin in 2011, said on Reddit Wednesday that he had “sold and donated” all of his litecoin tokens over the past few days — except for some physical ones he keeps as “collectibles.” Lee said […]
Read moreCurrency, United States Finance
French prime minister defends his $415,000 private flight from Tokyo to Paris
The French prime minister has defended his decision to charter a private aircraft at a cost of 350,000 euros ($415,000) when a government plane was also available. The office of Edouard Philippe hired an Airbus A340 to fly him and his delegation first class back to Paris from Tokyo, Japan, on December 6. However, it […]
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