The major indexes are soaring to record highs to start the year and breaching major milestones. The Dow soared past 25,000, the S&P 500 cracked 2,700 and the Nasdaq closed above 7,000 for the first time ever. As tech continues to drive the market, one technician has three mega-cap tech stocks that could pave the […]
Read moreUtilities are girding for the “bomb cyclone” that’s sweeping through the eastern United States, but analysts say Americans shouldn’t expect the same impacts that strained the power grid and drove up prices during the 2014 “polar vortex.” Power outages have already hit thousands of customers in Florida and the Southeast because of the massive storm. […]
Read moreIncome inequality in California is getting worse. In affluent areas such as Santa Barbara, the cost of living continues to rise while wages stay stagnant, leaving residents struggling to make ends meet. Even many of those with jobs can barely afford to stay in the city they’ve called home for years, and more of them […]
Read moreThe 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 more