Oil markets could receive another blow on Wednesday when the U.S. government reports oil stocks data that are expected to show a build in crude oil stocks, largely as a result of Hurricane Harvey damaging U.S. oil refineries in late August. In a preview of the U.S. Energy Information Administration’s (EIA) weekly oil stocks data, […]
Read moreCheck out which companies are making headlines before the bell: Equifax — The maligned credit reporting company’s stock slipped 1.3 percent before the bell after it acknowledged that it faced another security issue earlier this year. On Sept. 7, Equifax reported a data breach that could affect 143 million U.S. consumers. Tesla — Analysts at […]
Read moreApple’s products are so good, they are apparently immune to the normal laws of economics. Morgan Stanley on Tuesday raised its 12- to 18-month price target on Apple to $194 from $182, as the firm sees the higher prices as positive, not a negative like some other research firms on Wall Street. “Innovation-led price increases […]
Read moreWhile market prices suggest less certainty, 76 percent of respondents to the CNBC Fed Survey believe the central bank will hike interest rates in December. Various market-based gauges put the probability at 43 to 55 percent. On average, respondents to the survey see two to three hikes next year, and the Fed is forecast to […]
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A fresh bout of volatility could be here for stocks, if history is any indication. CNBC analysis using Kensho found that the S&P 500 has traded lower 70 percent of the time during the last two weeks of September since 1980. In that time, the index’s average return has been negative 1.3 percent, the analysis […]
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McDonald’s just had its worst week of the year, and a top technician says the charts point to more pain ahead. The fast-food giant is one of the best-performing Dow stocks this year — soaring nearly 30 percent. Despite the strong performance this year, McDonald’s has now fallen more than 2 percent from its recent […]
Read moreThe mining equipment market will grow next year boosting Caterpillar’s business, according to one Wall Street firm. UBS raised its rating for Caterpillar shares to buy from neutral, citing positive results from the firm’s survey of the industry’s spending plans. The stock rose 2 percent to a record high after the UBS report. We upgrade […]
Read moreIn late February, early March, a debate developed concerning what factors actually drive bank stock prices. The vast majority in that debate argued that an increase in interest rates, positive stress tests, high levels of stock buybacks, easing banking regulations, and a strong bull market would continue to drive bank stock prices higher. On the […]
Read moreAs the Fed starts unwinding the stimulus it provided to snap the economy back to life, two types of companies should benefit: Banks and those with lower debt than their peers, according to a Goldman Sachs analysis. Following its two-day meeting this week, the central bank is expected to announce that it will begin rolling […]
Read moreCheck out which companies are making headlines before the bell: Nvidia —Analysts at Bank of America/Merrill Lynch raised the chipmaker’s price target to $210 from $185 a share. Merrill noted it expects Nvidia’s cloud capital expenses to grow by 31 percent in the second half on a year-over-year basis and “growing influence in the multi […]
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