The US housing finance system continues to put taxpayers at risk in a market dominated by government-backed agencies, Federal Reserve Governor Jerome Powell said on Thursday, calling for further reform of an “unsustainable” situation. A decade after doubts about the creditworthiness of mortgage-backed securities helped trigger the worst financial crisis since the Great Depression, systemic […]
Read moreL Brands shares fell more than 10 percent Thursday morning after the specialty retailer reported a decline in same-store sales in June. The operator of stores such as Victoria’s Secret and Bath & Body Works said same store sales fell 9 percent last month, worse than the 7 percent decline expected by analysts in a […]
Read moreQatar Airways became the fourth airline in the Middle East to announce it would be exempt from measures banning laptops and other large electronic devices in the cabin on U.S. flights. The airline announced that passengers flying to the U.S. would be exempt from the laptop ban on Thursday. It follows announcements from Emirates, Turkish […]
Read moreRetail could be one of the best contrarian plays out there, as long as investors steer clear of the nation’s department stores. Eaton Vance chief equity investment officer Eddie Perkin is making that call. “You have to be careful with the department stores. They’re struggling, and they’ll continue to struggle under the threat of Amazon […]
Read moreWhat a difference a couple of weeks make. After hitting an all-time high in late June, Tesla shares have collapsed 18 percent, if Thursday’s premarket trading level holds, due to mounting concerns about its sales results, competition and the safety of its cars. The electric car maker’s stock fell 3 percent in Thursday premarket trading, […]
Read moreFive stocks in the S&P 500 have risen by more than 50 percent this year: Vertex Pharmaceuticals, Activision Blizzard, Align Technology, CSX and Wynn Resorts. Which one has the best shot at continuing its rally through the rest of the year? Chad Morganlander, portfolio manager at Washington Crossing Advisors, would put his money on shares […]
Read moreApple is gearing up to launch three new iPhones in 2018, according to Japanese financial news outlet Nikkei. Previous reports said Apple plans three new iPhones for this September. Citing two industry sources, Nikkei said next year’s phones will pack brighter and more colorful OLED displays. Apple is only expected to offer a new OLED […]
Read moreThe number of Americans filing for unemployment benefits unexpectedly rose for a third straight week last week, likely as some automakers closed assembly plants for the annual summer retooling. Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 248,000 for the week ended July 1, the Labor Department said on Thursday. Data […]
Read moreQatar Airways Chief Executive Akbar al-Baker said on Thursday the Doha-based carrier would soon start buying shares in American Airlines “depending on the share price.” The state-owned company notified American Airlines last month that it was interested in buying up to 10 percent of its shares. Al-Baker told reporters in Dublin that Qatar Airways would […]
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Like Fed officials on interest rates, strategists are divided when it comes to the bond market’s direction. The 10-year Treasury note yield hit a seven-week high of 2.357 percent on Wednesday ahead of the release of the minutes from the Federal Reserve’s June meeting. It finished the day slightly lower at 2.32 percent. The note’s […]
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