U.S. home sales dropped more than expected in April as a shortage of properties for sale continued to weigh on the market. The National Association of Realtors said on Thursday that existing home sales fell 2.5 percent to a seasonally adjusted annual rate of 5.46 million units last month. March’s sales pace was unrevised. The […]
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President Donald Trump’s decision to cancel the Singapore summit with North Korea leader Kim Jong Un is moving financial markets, spurring a big move in the gold market. Source: FactSet Gold futures were trading up more than 1 percent Thursday after the news, above $1,305 an ounce. Investors often seek refuge in the precious metal […]
Read moreFederal investigators say the autonomous Uber SUV that struck and killed an Arizona pedestrian in March spotted the woman about six seconds before hitting her, but didn’t stop because emergency braking was disabled. In a preliminary report on the crash, the National Transportation Safety Board said Thursday that emergency braking maneuvers are not enabled while […]
Read morePresident Donald Trump has canceled his historic summit in Singapore with North Korean leader Kim Jong Un next month. The meeting, which would have marked the first face-to-face encounter between a sitting U.S. president and a North Korean leader, was set for June 12. “Sadly, based on the tremendous anger and open hostility displayed in […]
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J.P. Morgan’s chart expert is telling clients to ignore recent market worries, predicting the S&P 500 will rise to new highs. “Technicals continue to suggest consolidation within a late-cycle rally. Look for new highs in the months ahead,” Jason Hunter, head of global fixed income and US equity technical strategy said in a note to […]
Read moreGeneral Electric does not have plans to cut its dividend in 2019, people familiar with the situation told CNBC’s David Faber on Thursday. CEO John Flannery told analysts at a industry conference in Florida on Wednesday that GE will “have to see how” the company’s turnaround plan “play outs” before deciding whether to cut the […]
Read moreBest Buy stock fell 6 percent in premarket trading Thursday after the company did not provide an update to its full year forecast, despite reporting better than expected first quarter results. “At this time we are not updating our full year fiscal 2019 guidance provided at the start of the year,” Best Buy CFO Corie […]
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Facebook must comply with European privacy laws in 'real life,' EU's digital policy chief say
The European Union‘s digital policy chief has urged Facebook to stick to its promise and abide by the region’s more stringent data protection rules. In an effort to give consumers greater control over how their personal details are used, Europe is set to impose sweeping changes to data laws on Friday. The introduction of General […]
Read moreThe Federal Reserve needs to raise interest rates about four more times before it reaches an equilibrium level, Dallas Fed President Robert Kaplan said Thursday. Speaking a day after the central bank released minutes from its May meeting, Kaplan said the Fed still has work to do before it can say that it has its […]
Read moreThe vast majority of Apple’s future revenue growth will be generated by its services, according to Morgan Stanley. The firm reiterated its overweight rating for Apple shares, saying investors are underestimating the strength of its App store business. “We counter the [Apple] bears, arguing that App Store growth is sustainable and take rates are defensible. […]
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