Oil prices rose ahead of a critical meeting of two dozen oil producers on Thursday, reversing a three-day slide as uncertainty over an extension to the group’s deal to limit production weighed on the market. OPEC and other oil exporters led by Russia have kept 1.8 million barrels a day off the market since January, […]
Read moreIn the light of the rising popularity of cryptocurrencies, like bitcoin and ethereum, central banks around the world are busy experimenting with their own versions of cryptocurrency, or digital currency. China’s central bank announced in January that it has completed a successful trial run of transacting digital currencies among banks. Then in September, Japan, Sweden […]
Read moreChipotle Mexican Grill’s search for a new chief executive adds uncertainty to the restaurant’s earnings trends, according to William Blair, which downgraded the shares Thursday. Even if Chipotle finds a new CEO quickly, the addition of a new company leader often results in a costly few transition years, wrote analyst Sharon Zackfia. “While ultimately the […]
Read moreGap shares have gone up too far over optimism for strong holiday sales, according to a top Wall Street firm. Citi Research lowered its rating for Gap shares to sell from neutral, saying the retailer will face difficulties next year. “The stock is up nearly 40% over the past 3 months … We believe this […]
Read moreOn Thursday, OPEC members and other oil producers are set to convene in Vienna to discuss curbing global oil production. Despite some expectations that Russia will agree to extend production cuts, crude oil prices settled lower on Wednesday, just above $57 per barrel, and were little changed in the evening. Bill Baruch, president of Blue […]
Read moreAs shares of newly public e-retailer Stitch Fix climbed on Wednesday, CNBC’s Jim Cramer backtracked to its quiet initial public offering to see if the fresh-faced stock was worth buying. “Here’s a company that occupies a very interesting niche: Stitch Fix provides monthly curated shipments of apparel, shoes and accessories to their customers — called […]
Read moreEven though PVH Chairman and CEO Manny Chirico told CNBC he was “disappointed” by the GOP tax bill, he couldn’t be dismayed by the momentum behind this holiday shopping season. “It’s the strongest holiday season so far that I’ve seen in the last four years, especially here in North America,” Chirico told “Mad Money” host […]
Read moreRepublican leaders will pass a tax bill, but it’ll be a “watered down” version from what was originally envisioned, closely followed strategist Jim Paulsen told CNBC on Wednesday. The full Senate could vote on a tax reform bill as early as Thursday, but some lawmakers and conservative groups remain in disagreement about certain parts of […]
Read moreNasdaq plans to launch bitcoin futures as early as the second quarter of 2018, according to exchange officials. The CBOE and the CME have also announced plans to launch futures tied to the cryptocurrency shortly. A Nasdaq spokesperson said that the exchange’s futures would differentiate from CBOE and CME because Nasdaq would base its price […]
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Crude oil prices are under pressure, but Todd Gordon of TradingAnalysis.com says the charts are pointing to a massive rally for the commodity. Gordon is standing by his call that the market is starting to see signs of inflation. He also said the Federal Reserve won’t significantly tighten monetary policy. A Fed tightening, in this […]
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