The stock market has been on a tear this year and more gains may be ahead, according to what some say is the oldest market indicator on Wall Street. The Dow Jones industrial and transportation averages hit all-time highs on Monday, confirming each other’s upside trends and triggering a “buy” signal in the market, according […]
Read more
Central bank easing may no longer be politically acceptable. That’s what Bank of America Merrill Lynch’s widely followed chief investment strategist, Michael Hartnett, says in a note. “Central banks have exacerbated inequality via Wall St. inflation & Main St. deflation; [it’s] no longer politically acceptable to stoke [the] Wall St. bubble,” the strategist wrote last […]
Read moreMarc “Dr. Doom” Faber has a warning for investors — brace yourselves for another financial crisis. Just last week, Federal Reserve Chair Janet Yellen said another crisis like the one in 2008 was not likely to happen “in our lifetime.” Faber told CNBC’s “Squawk on the Street” on Monday that “I’m 71 and for sure […]
Read moreOPEC has lost its grip on the oil market, but oil prices will likely set a bottom in the low $40s per barrel, according to the latest CNBC Oil Survey. Sixty percent of participants agree that OPEC has lost control of the oil market, and the same percent also expect the cartel to continue its […]
Read more
Goldman Sachs is out with a call on bitcoin, and chart analyst Sheba Jafari expects the digital currency could rise as high as $3,915. That would be 52 percent above Monday’s price of about $2,567. “The market is in wave [four] of a sequence that started in the late-’10/early-’11 lows,” Jafari wrote in a Sunday […]
Read more
Starbucks shares have fallen nearly 10 percent in the past month, but one top technician says the coffee chain is poised for a breakout. The stock “has been weak and may have some bounce potential,” Carter Worth of Cornerstone Macro said Friday on CNBC’s “Options Action.” While analyzing Starbucks charts, Worth pointed out a specific […]
Read moreThe unemployment rate is at a 16-year low and major stock indexes are scraping the heavens — but former Labor Secretary Seth Harris says he has reason to doubt the strength of the job market. “To me the big number is always wages, real wages,” said Harris, who served during the Obama administration. Real wages […]
Read more
The recent shift from skepticism to optimism may be the first sign of market euphoria that is typical toward the end of bull markets but has been notably absent thus far in the cycle. The Sell Side Indicator – which measures Wall Street’s bullishness on stocks – has rebounded since an all-time low of 43.9 […]
Read moreCheck out which companies are making headlines before the bell: Tesla — CEO Elon Musk on Twitter tweeted that the company would deliver the first of its new Model 3 sedans on July 28, after the vehicle passed all of its regulatory requirements for production. GlaxoSmithKline – The drugmaker signed a new $43 million deal […]
Read moreChina laid the groundwork to finally get its stocks included in the key emerging markets benchmark, and now the country is taking rapid steps to get its bonds a similar global stamp of approval. On Monday, China launched a “bond connect” that gives foreign investors access to mainland China’s more than $9 trillion debt market […]
Read more