The Securities and Exchange Commission warned Thursday that investors should “exercise caution” with cryptocurrencies like bitcoin, noting state and federal regulators may not be able to recoup any lost investments from illegal actors. Many promoters of initial coin offerings (ICOs) and other cryptocurrency investments are not following federal and state securities laws, SEC Chairman Jay […]
Read moreDavid Tepper of Appaloosa Management, one of the most respected investors in the hedge fund business, told CNBC on Thursday the bull market still has room to grow. “Explain to me where this market is rich? It’s not rich with the tax thing that just changed earnings projections. With earnings forecasts going up and interest […]
Read moreShares of marijuana-related companies tumbled Thursday on a report that Attorney General Jeff Sessions is planning on ending a policy that allowed pot legalization to thrive. NBC News’ Pete Williams confirmed Sessions made the decision to rescind an Obama administration 2013 memo, which stated it would not stand in the way of states that legalize […]
Read moreIndia on Thursday began investigating a report that access to its database of the identity details of more than 1 billion citizens was being sold for just $8 on social media, in what could be one of the giant program’s biggest security breaches. The Tribune newspaper said it had been able to buy login credentials […]
Read moreYou’ll soon be able to use Amazon Alexa to start heating food in your microwave. Amazon introduced new tools on Thursday that allow kitchen appliance makers to build Alexa, the voice assistant that powers Echo devices, into microwaves and eventually conventional ovens. You might, for example, tell Alexa to set the microwave for 3 minutes […]
Read moreThe Dow’s break above 25,000 on Thursday shows that investors are not losing confidence in the markets, closely followed trader Art Cashin told CNBC. The Dow milestone “is a psychological thing,” said Cashin, UBS’ director of floor operations at the New York Stock Exchange. “But the important thing is the markets had a kind of […]
Read moreSome corporations have reacted to the passage of sweeping tax reform legislation by announcing stock buybacks, raising wages or planning to give bonuses. Sen. Rob Portman, R-Ohio, says the best news is yet to come. “I’ve talked to a number of CEOs over the past several months about the tax reform as it relates to […]
Read moreThe S&P 500 could surge 18 percent this year, according to UBS, which raised its 2018 target to 3,150, the highest on Wall Street, only three trading days into the year. The Dow Jones industrial average already crossed 25,000 on Thursday morning after a strong jobs report. The broader S&P is trading around 2,726 on […]
Read moreThe Dow has passed 25,000, quite an impressive move considering it hit 20,000 on January 17th last year, almost exactly one year ago. Many are still amazed that the market keeps advancing, but it’s not incomprehensible. It’s a global rally. Reuters reported that China would stick with GDP growth around 6.5 percent as a goal […]
Read moreTesla’s slower-than-expected Model 3 production rate has fanned worries about Tesla’s cash flow and capital expenditures — major ongoing concerns for investors. Analysts have again expressed concern over whether Tesla can secure the gross margins on the cars it is aiming for, whether customers will still want the car, and how slower production rates affect […]
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