The Trump administration’s assertion that a decadeslong surge in auto imports could impact national security is not a solid argument, according to CNBC’s Jim Cramer. “I thought it was a stretch to use defense,” Cramer said Thursday on “Squawk on the Street,” referring to Commerce Secretary Wilbur Ross’ comments on CNBC on Thursday. Ross said […]
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President Donald Trump’s decision to cancel the Singapore summit with North Korea leader Kim Jong Un is moving financial markets, spurring a big move in the gold market. Source: FactSet Gold futures were trading up more than 1 percent Thursday after the news, above $1,305 an ounce. Investors often seek refuge in the precious metal […]
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J.P. Morgan’s chart expert is telling clients to ignore recent market worries, predicting the S&P 500 will rise to new highs. “Technicals continue to suggest consolidation within a late-cycle rally. Look for new highs in the months ahead,” Jason Hunter, head of global fixed income and US equity technical strategy said in a note to […]
Read moreGeneral Electric does not have plans to cut its dividend in 2019, people familiar with the situation told CNBC’s David Faber on Thursday. CEO John Flannery told analysts at a industry conference in Florida on Wednesday that GE will “have to see how” the company’s turnaround plan “play outs” before deciding whether to cut the […]
Read moreBest Buy stock fell 6 percent in premarket trading Thursday after the company did not provide an update to its full year forecast, despite reporting better than expected first quarter results. “At this time we are not updating our full year fiscal 2019 guidance provided at the start of the year,” Best Buy CFO Corie […]
Read moreThe Federal Reserve needs to raise interest rates about four more times before it reaches an equilibrium level, Dallas Fed President Robert Kaplan said Thursday. Speaking a day after the central bank released minutes from its May meeting, Kaplan said the Fed still has work to do before it can say that it has its […]
Read moreOne of Wall Street’s top Asia experts isn’t ruling out a U.S.-China trade war. According to Yale University senior fellow Stephen Roach, the threat is still real, and it could take a big bite out of stocks. “The bottom line is China has been one of President Trump’s core economic issues, and I’d be surprised […]
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U.S. tractor maker Deere & Co. is set for upside as rising grain prices spur a cycle of equipment replacement across the globe, according to UBS. Analyst Steven Fisher, who upgraded the stock to buy from neutral, also told clients that a potential dividend increase and a strong earnings performance this summer could prove lucrative […]
Read moreCheck out the companies making headlines before the bell: Best Buy – The electronics retailer earned an adjusted 82 cents per share for the first quarter, 8 cents a share above estimates, with revenue also exceeding forecasts. Best Buy reported a comparable store sales increase of 7.1 percent, well above the consensus Thomson Reuters forecast […]
Read moreDomestic auto stocks rose Thursday after the U.S. Department of Commerce started an investigation into automobile imports. The government is looking into whether the imports “threaten to impair the national security” of the United States. It will be carried out under Section 232 of the Trade Expansion Act of 1962, the agency said in a […]
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