Another top official at the European Central Bank has made a thinly-veiled swipe at the U.S. administration, following comments made by Treasury Secretary Steven Mnuchin which caused the dollar to slump against the euro. The greenback tanked to a three-year low Wednesday when Mnuchin said that a weaker dollar is beneficial for the country. This […]
Read moreThe titans of global finance at the World Economic Forum are too optimistic about the stock market and the economy, American billionaire real estate investor Jeff Greene told CNBC on Friday. “There are 2,000 people [here], and I don’t think I’ve met one person who’s been negative,” Greene said on “Worldwide Exchange” in an interview […]
Read moreBill Ackman’s Pershing Square has taken a passive stake in Nike, a source tells CNBC. The activist hedge fund will not pressure the shoe apparel company for changes. CNBC was not able to clarify the size of the hedge fund’s Nike position. Ackman’s position in Nike was earlier reported by Reuters, which said the position […]
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The dollar sell-off sparked by Treasury Secretary Steven Mnuchin‘s surpise comments about a weak greenback creates an opportunity for equities investors, one market watcher says. The weaker U.S. dollar has benefited large multinational companies that derive a large chunk of revenue abroad, said Michael Binger, senior portfolio manager at Gradient Investments. “It’s a tailwind for […]
Read moreJ.P. Morgan Asset Management CEO Mary Erdoes on Friday gave a bullish case for stocks, saying optimism about the booming market isn’t impractical. “Just because people are optimistic doesn’t mean they’re unrealistic,” Erdoes told “Squawk Box” from the World Economic Forum in Davos, Switzerland. Erdoes spoke as U.S. stock futures were higher, with the Dow, […]
Read moreInterest rates and classic measures of inflation have been pinned down to historically muted levels in recent years. As both show signs of creeping higher, some market watchers see the combination as a potential headwind for stocks. Inflation and the 10-year Treasury yield rising together are of particular importance to Mike Binger, senior portfolio manager […]
Read moreCurrency, United States Finance
Bitcoin can be called an asset, just don’t call it money, Swedish central banker says
Bitcoin and other cryptocurrencies are “not a very good version of money” due to their volatile nature, the deputy governor of Sweden’s central bank said Thursday. Cecilia Skingsley said that digital currencies were not an efficient store of value or means of exchange, but conceded that they could be called assets instead. “In my view, […]
Read moreU.S. computer maker Dell Technologies is exploring a range of options that could see the world’s largest privately held technology company grow further through acquisitions or go public, people familiar with the matter said on Thursday. Dell’s board of directors will meet later this month to consider the biggest shakeup in the company’s history since […]
Read moreCurrency, United States Finance
Bitcoin is getting bashed at Davos but the crypto world is fighting back
Bitcoin was hammered by top business leaders at the World Economic Forum in Davos, but those in the cryptocurrency world had a message of their own. Cryptocurrencies were one of the biggest topics at the Forum. There was an official session on it, CNBC ran a few panels about the subject in The Sanctuary, and […]
Read moreChina on Friday outlined its ambitions to extend President Xi Jinping‘s signature Belt and Road Initiative to the Arctic by developing shipping lanes opened up by global warming. Releasing its first official Arctic policy white paper, China said it would encourage enterprises to build infrastructure and conduct commercial trial voyages, paving the way for Arctic […]
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