Energy stocks are riding crude oil’s rally. Now, a major energy ETF just needs to break its stubborn resistance level, according to one chart watcher. “The key level to watch is the $78 level on the XLE,” Matt Maley, equity strategist at MillerTabak, told CNBC’s “Trading Nation” on Thursday. “That’s the level that’s stopped rallies […]
Read moreDespite a generally positive economic outlook, one asset manager warns that signs of a potential market crash are now appearing. Regardless of whether it happens sooner rather than later, any time the market drops, Oracle of Omaha Warren Buffett recommends keeping a level head and picking up a copy of “The Intelligent Investor.” “Any time […]
Read moreThe U.S. Supreme Court on Friday imposed limits on the ability of police to obtain cellphone data pinpointing the past location of criminal suspects in a victory for digital privacy advocates and a setback for law enforcement authorities. In the 5-4 ruling, the court said police generally need a court-approved warrant to get access to […]
Read morePresident Donald Trump said on Friday he wants OPEC to raise its oil production. “Hope OPEC will increase output substantially. Need to keep prices down!” Trump said on Twitter. Tweet Link OPEC announced from its meeting in Vienna, Austria that it would raise output but it was unclear still by how much. The official press […]
Read moreInvestors are starting to realize that massive strength in tech and retail stocks have been concealing weakness in the broader market, CNBC’s Jim Cramer said Friday. “This is a horrendous decline that we just haven’t talked about because it’s been masked by FAANG and by the retailers and by a couple [small cap] domestic stocks,” […]
Read moreElectronic Arts shares will rise due to the success of its subscription gaming services, according to one Wall Street firm. Needham reiterated its buy rating for EA shares, saying its subscription business is already worth $3 billion to the company. “We believe that EA is building a Netflix for video games,” analyst Laura Martin said […]
Read moreCurrency, United States Finance
Turkey’s presidential and parliamentary elections on Sunday are crucial, and the most high-stakes in years. They will mark a serious concentration of power into the hands of the elected president, and could even see the powerful President Recep Erdogan and his Justice and Development party (AKP) defeated. Country analysts are calling this the closest contest […]
Read moreThe sustainability practice of a large European asset management firm is banning investments in Facebook shares. Nordea’s head of group sustainable finance Sasja Beslik explained the decision on social media Thursday. “Nordea has decided to exclude Facebook from the Nordea Stars Funds’ investments,” he said in a tweet. The company’s Stars Funds invest in firms […]
Read moreGeneral Electric should suspend its quarterly dividend for the next 18 months, Goldman Sachs wrote in a Thursday night note to clients. “To avoid another dividend cut and potential rating downgrade we think the most prudent action would be for GE to consider suspending its common dividend for the next 18 months,” Goldman Sachs said […]
Read moreOPEC ministers and their allied partners meeting in Vienna have agreed on oil production levels starting from July. A source confirmed to CNBC that a deal has been struck and a statement critical of the U.S. that Iran wanted to include would not be in the final communique. A report from Reuters put the agreed […]
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