Fundstrat’s Sam Doctor told investors to expect a market pullback later this year, saying the current period of low volatility is “unstable.” The quantitative strategist cited how the spread between correlations of stocks to their industry versus the rest of the market is at 99 percentile historical highs, which is often a precursor to market […]
Read moreThe dollar could continue to flounder and the economy could fall into recession unless Congress moves on tax-cutting legislation, says David Woo, Bank of America Merrill Lynch’s head of global rates and foreign exchange strategy. “The single biggest driver of the dollar is the outlook for U.S. tax reform. If tax reform happens, it will […]
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With the dollar tumbling against the euro this year, many on Wall Street are predicting the U.S. currency may weaken even further from here. Investors can trade the trend, using history as a guide. The euro surged 1.8 percent this week against the dollar through Friday because European Central Bank President Mario Draghi said the […]
Read moreJPMorgan analysts believe Whirlpool’s decline in light of Sears’ announcement that it will be selling its full line of Kenmore appliances on Amazon is “overdone.” Shares of Whirlpool posted a sharp decline of 4 percent on Thursday after Sears declared plans on Thursday to sell Kenmore-branded appliances on Amazon.com. After the opening bell, Whirlpool traded […]
Read moreGeneral Electric stock skid Friday to lowest its level in 19 months after the company saw a 12 percent drop in revenue from a year earlier. It was GE’s final quarterly earnings report before John Flannery replaces Jeff Immelt as CEO next month. Share prices were down as much as 5 percent after GE’s earnings […]
Read moreThe “Fast Money” traders shared their first moves for the market open. Steve Grasso was a buyer of Netflix. Karen Finerman was a buyer of Golar. Dan Nathan said he would not be chasing Microsoft right now. Guy Adami was a buyer of Xilinx. Trader disclosure: On July 20, 2017, the following stocks and commodities […]
Read moreA difficult year for Wells Fargo shareholders will likely get much worse, according to Berenberg. The firm lowered its rating for the bank’s shares to sell from hold, saying the bank will report earnings below consensus expectations next year. In a note to investors on Thursday, the firm said Wells Fargo has lost the magic […]
Read moreHomebuilder stocks could see further upside, according to one strategist who sees a strong environment for the homebuilders despite a rough trading day on Thursday. Matt Maley, equity strategist at Miller Tabak, is watching homebuilder stocks closely following Wednesday’s U.S. housing starts data, showing that housing starts rose 8.3 percent to a seasonally adjusted annual […]
Read moreAfter KeyCorp’s second-quarter earnings beat Wall Street’s estimates, the stock declined over 3 percent on management’s somewhat tepid full-year guidance, so Chairman and CEO Beth Mooney wanted to clarify the company’s prospects and goals. “We see strength in our company, strong balance sheet, and I do believe, if there is some more clarity and some […]
Read moreFacebook is on a tear this year — surging 42 percent, and helping to push the tech sector to highs not seen since the dot-com bubble. After 17 years, the S&P 500 Technology sector finally closed at a record high on Wednesday, powered by mega-cap tech stocks like Facebook, Apple, Microsoft and Nvidia. And with […]
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