After slipping a bit to settle at $49.98 on Wednesday, crude oil rose on Thursday to finish the session at $50.79. And while oil’s recent moves may seem moderate, the commodity’s flirtations with the $50 per barrel mark give the daily machinations of oil prices great moment, according to RJO Futures senior market strategist Phillip […]
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Wall Street’s fear gauge posted its lowest close ever Thursday as U.S. stock markets continued to mark record highs in a seemingly unstoppable march higher. The CBOE Volatility Index, or VIX, ended the day at 9.19, down nearly 5 percent since Wednesday. This widely followed index reflects the bets of options traders on the direction […]
Read moreFinancial stocks are set for additional gains, even after a 10 percent rally over the past month, according to chart analysts at Strategas Research Partners. “The relative performance of the financials sector has also reaccelerated over recent weeks and is on the cusp of making new highs,” wrote the Strategas team led by Chris Verrone. […]
Read moreBlackRock’s Jeff Shen says the firm’s new investments in machine learning and big data are driving returns even higher. “The group I’m affiliated with, the scientific active equity group, 90 percent of the AUMs are above benchmark on one, three, five year,” said Shen, Blackrock’s co-CIO of its scientific active equity group, during an interview […]
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It’s a valuation call that catapults stocks by 32 percent. Based on the latest calculations by PNC Asset Management’s Bill Stone, the S&P 500 could hit 3,368 in 2018. And he has a chart that proves it could happen. “Part of it came to me watching Warren Buffett on CNBC [Tuesday] really talking about the […]
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Shares of auto stocks such as General Motors and Ford are on a tear, but some say the stocks are set to take a pause. General Motors shares hit an all-time high on Tuesday after the company posted September sales that beat estimates and received a bullish analyst upgrade. Ford shares on Wednesday hit their […]
Read moreA prominent bond broker says his clients who are holding Puerto Rican debt are just about “suicidal” after President Trump threatened to wipe them out. After visiting the devastated island, Trump said the U.S. territory’s $72 billion debt should be wiped away. Most of Puerto Rico’s credits are now moving through the Title 3 bankruptcy […]
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As the debate continues over who will benefit most from the Trump administration’s tax reform plan, one clear winner will be corporate America’s bottom line. How much that translated into in raw numbers of course will depend on the final rates that Congress plugs in as it debates the proposal. However, estimates being tossed around […]
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It’s unlikely the self-proclaimed “King of Debt” can wave away Puerto Rico’s debts, but President Donald Trump’s interest in the island’s recovery may mean bondholders get an even smaller piece of the pie. “The president can’t just wipe out the debt,” said Jeff Lipton, managing director, head of municipal research and strategy at Oppenheimer. After […]
Read moreThe S&P 500 just had its least volatile September ever, but one top Wall Street firm believes the recent sedate markets will not last. JPMorgan reiterated its overweight rating for Goldman Sachs shares, saying the investment bank’s trading results will improve as the markets get more volatile. Goldman Sachs “has shown excellent progress when it […]
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