While Wall Street has been focused on trade talks and diplomatic tensions over the summer, the U.S. dollar has quietly crept to its highest levels of the year. The DXY U.S. dollar index, which measures the greenback against a basket of currencies, has surged since April lows to hold year-to-date highs through July. Speaking with […]
Read moreFinancials haven’t had a good month. The sector has fallen by more than 1 percent in three of the past five weeks and sunk to the bottom of the S&P 500 for the past 30 trading days. One strategist is betting on a big bank comeback into year-end. “It’s going take just a little bit […]
Read moreCheck out which companies are making headlines before the bell: BlackRock – The asset management firm reported adjusted quarterly profit of $6.66 per share, 11 cents above estimates. Revenue also came in above forecasts. BlackRock’s overall profits were up more than 25 percent from a year ago, helped by increased fee revenue, larger profit margins, […]
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Huge sums of investor cash have poured into exchange-traded funds during this past year (and during the whole bull market) with billions of dollars sitting passively in funds betting on the very largest U.S. stocks. But new research suggests this money is betting on funds with a methodology that might not offer the best returns […]
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The U.S. economy is more vibrant than it has been in years, yet the bond market insists a recession could be on the horizon. Some market pros say that warning from the Treasury yield curve, which has long been viewed as reliable, is not as relevant as it once was because of the long years […]
Read moreWorld Wrestling Entertainment shares triple-digit return so far this year has much more to go, according to Morgan Stanley. The firm raised its price target for the media company to $100 from $58, representing 34 percent upside to Thursday’s close. It is the highest target out of the 12 analysts who cover WWE, according to […]
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Shares of PNC Financial Services rose nearly 2 percent in premarket trading Friday after beating estimates in its second-quarter earnings report. The regional bank reported earnings of $2.72 per share, beating estimates from analysts surveyed by Thomson Reuters by 14 cents. PNC also posted better-than-expected revenue, bringing $4.32 billion, compared to $4.25 billion expected. PNC […]
Read moreCheck out which companies are making headlines before the bell: JPMorgan Chase – The bank earned $2.29 per share for the second quarter, beating forecasts by 7 cents a share. Revenue was also above forecasts, helped by what CEO Jamie Dimon called “open and active capital markets” that helped drive fee and markets revenue. Walt […]
Read moreWells Fargo reported lower revenue and profit for the second-quarter, falling short of expectations as it tries to move on from its regulatory issues. The bank said Friday that earnings per share were 98 cents on a GAAP basis, including a 10 cent per share tax expense. It was unclear whether that compares directly to […]
Read moreThis is a somewhat unusual earnings season with a lot of moving parts. Expect to hear about tax cuts, buybacks, big revenue gains, trade wars and very high future earnings expectations. It’s all a rather volatile stew, and the stock market is clearly expecting a positive outcome. The stakes are high, with 20 percent profit […]
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