One of the barriers to the introduction of a bitcoin exchange-traded fund may soon be removed. The world’s largest futures exchange, CME, said Tuesday it’s planning to launch bitcoin futures by the end of the year. While not the first to announce plans for bitcoin futures, CME may have a better chance with regulators, some […]
Read morePershing Square Capital’s Bill Ackman revealed a new strategy on Wednesday in his years-long bearish position on Herbalife. The billionaire hedge fund activist has been betting against Herbalife for more than four years, accusing the nutritional supplement company of running a pyramid scheme. Herbalife has always denied those allegations. “We’ve been entirely right on our […]
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The recent sell-off in shares of American Airlines is “overdone,” according to one Wall Street analyst. JPMorgan upgraded American to overweight, arguing that plans to boost revenue will continue to buoy the company. American narrowly beat profit expectations during last week’s earnings report after multiple hurricanes in August and September forced it to cancel some […]
Read moreCheck out which companies are making headlines before the bell: Wal-Mart – The retailer announced it was tripling its selection of online items for the holiday shopping season, as well as providing free two-day shipping on more than two million products if the order is greater than $35. Estee Lauder – The cosmetics maker reported […]
Read moreOil traders just provided another sign that the market is rebalancing. The WTI calendar spread for the next six months moved from “contango” into “backwardation” Tuesday. To explain, a calendar spread measures the difference in price between any pair of oil contracts with different delivery dates and can explain the current supply-demand balance in the […]
Read moreThe ocean of money keeps flowing into exchange-traded funds. October notched another record month, adding $56 billion to this year’s total of $388 billion in new money, far and away the biggest year ever, even after just 10 months. U.S.-based ETFs now have $3.2 trillion in assets under management, an increase of 11 percent this […]
Read morePresident Donald Trump’s expected decision on the next Federal Reserve chair is likely to impact the bond market, as some leading contenders are considered more hawkish or dovish than others when it comes to monetary policy. Trump is expected to name his pick for Fed chair Thursday, and the PredictIt market on Tuesday evening showed […]
Read moreWith the Dow Jones industrial average and the S&P 500 index on track for their seventh monthly gains in a row, CNBC’s Jim Cramer understands why investors might be skeptical of the rally. “This kind of rally seems unbelievable. The world’s been starved of growth for ages; we simply haven’t seen anything like it for […]
Read moreTax reform is on the agenda this week and strategists at Morgan Stanley laid out how they think the stock market will react to the unfolding drama through the end of the year and maybe into 2018. Lawmakers are expected to release the first draft of a tax reform bill this week. President Donald Trump […]
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As the stock market keeps moving higher, valuations have reached an ominous level that comes appropriately enough on Halloween. The Shiller CAPE ratio, which compares stock prices to their earnings over a 10-year period, is at 31.43, about where it was when then-Fed Chairman Alan Greenspan gave his widely cited “irrational exuberance” speech in December […]
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