As Dow components 3M and Caterpillar brought the average to a record high on Tuesday, CNBC’s Jim Cramer explained why investors had no choice but to trust the rotation into the industrial names. “When a company like Caterpillar or 3M reports a magnificent earnings quarter, this market takes what they say as gospel and assumes […]
Read moreHedge fund manager David Einhorn, who’s become a billionaire by effectively identifying undervalued and overvalued stocks, is struggling right now and questioning whether the classic investing principles that made him will ever work again. “The market remains very challenging for value investing strategies, as growth stocks have continued to outperform value stocks. The persistence of […]
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As if things couldn’t get worse for General Electric. Shares of the worst-performing Dow stock fell again on Tuesday and are now in danger of entering a technically perilous pattern that could spell more declines to come. “In a world of new highs, we have General Electric hitting fresh new lows,” Rich Ross of Evercore […]
Read moreWall Street’s rally goes on despite what’s happening in Washington, CNBC’s Jim Cramer said Tuesday. After speaking with CEOs from U.S. companies, Cramer said many are “embarrassed” by what is going on and instead shift their focus to business-friendly developments abroad. “There isn’t anyone who doesn’t feel that the sideshow is hurting us,” Cramer said […]
Read moreCanyon Partners Co-CEO Joshua Friedman said he’s finding value in mergers and acquisitions and is “very cautious” on entering the retail space. “We’ve deployed a fair amount of capital recently in oil services,” Friendman told CNBC’s Andrew Ross Sorkin on Tuesday. “There are a lot of companies that are very competent services companies that couldn’t […]
Read moreExpected tax cuts along with increased spending for hurricane victims and a higher debt ceiling could push the U.S. budget deficit even higher than expected. In fact, the deficit could be back over $1 trillion by 2020, a good deal ahead of current government projections, according to a Goldman Sachs analysis. “We have increased our […]
Read moreWall Street could see a pullback of about 3 percent before year-end, strategist Katie Stockton told CNBC on Tuesday. If the drop happens sooner rather than later, stocks could squeeze in another rally before January, BTIG’s chief technical strategist told “Squawk Box.” “The initial support for the S&P 500 is about 2,485,” Stockton said. “That’s […]
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The global economy is set to enjoy steady growth with one notable exception according to a note from Goldman Sachs out this morning. The firm’s portfolio strategy research team calls for 3.9 percent annual global growth through 2020, but believes GDP in the U.S. will decelerate to just 1.5 percent. The U.S. Commerce Department’s official […]
Read moreCheck out which companies are making headlines before the bell: Caterpillar – Caterpillar earned an adjusted $1.95 per share for the third quarter, swamping estimates of $1.27 a share. Revenue also beat forecasts, with Caterpillar seeing a significant increase in demand for its construction equipment. 3M – The maker of a wide variety of products […]
Read moreAs as investor, if you’re feeling calm about this long bull market, don’t let the lack of volatility lull you to sleep. The risks of a pullback are still there. Do you actually know how your portfolio would react in another downturn? When was the last time you took a look at your retirement investments […]
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