The market has hit a key point that points to a bounce, says chart-minded trader Todd Gordon. “We’ve been tracking this consolidation in the S&P for all of 2018, and I think we’ve just reached a very critical level,” the TradingAnalysis.com founder said Tuesday on CNBC’s “Trading Nation.” Gordon had previously pointed out that the […]
Read moreArgentina’s peso rebounded from a record low against the U.S. dollar on Tuesday following a report the Latin American nation could get a credit line from the International Monetary Fund. Bloomberg News reported that Latin America’s third-largest economy could get a $30 billion loan from the IMF. The report — citing a person with direct […]
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Goldman Sachs advised clients to buy commodities and cash in the next few months as equities look to shake off a “fat and flat” trend of little growth so far this year. “We keep our overweight [rating on] commodities, which has been the strongest asset class year to date and still has the strongest return […]
Read moreBig U.S. banks have lower risk and greater structural advantages than at any time in decades, ValueAct Capital Partners wrote Monday in an investor letter explaining why it took on a $1.2 billion stake in Citigroup this year. ValueAct, led by co-founder Jeffrey Ubben, said the financial industry is poised for a rebound like other […]
Read moreFormer Goldman Sachs president Gary Cohn said Tuesday he thinks the world will have a global cryptocurrency that is not bitcoin. “I’m not a big believer in bitcoin. I am a believer in blockchain technology,” Cohn told CNBC’s Bob Pisani in a “Squawk on the Street” interview. “I do think we will have a global […]
Read moreThe energy space was sharply lower Tuesday as investors await President Donald Trump’s announcement about the Iran nuclear deal at 2 p.m. ET; the decline of 3 percent was sparked after conflicting reports on the pending decision. Oil crossed above $70 for the first time since late 2014 on Monday, pushing energy stocks higher along […]
Read moreThese are the two statements you most often hear about liquidity and ETFs: ETFs are only as liquid as what they own. ETFs are only as liquid as what you see on the screen. Both of these are fundamentally flawed, and interact in interesting ways. And nowhere are there more histrionics about these issues than […]
Read moreHain Celestial’s stock hit a more than five-year low on Tuesday after it lowered earnings expectations for the year. The Terra-chip maker adjusted its earnings forecast to exclude the protein business it is currently selling. The revised fiscal 2018 forecast calls for earnings of between $1.11 and $1.18 per share, down from $1.64 to $1.75 […]
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Caterpillar may have tainted the entire earnings season for industrial companies with one line, according to CNBC’s Jim Cramer, and now the company is trying to walk it back. Caterpillar’s management on Tuesday sought to clarify last month’s now-infamous “high water mark” comment — made by CFO Bradley Halverson on the heavy equipment maker’s first-quarter […]
Read moreAfter nearly a decade of underperformance, hedge funds are actually faring better than the stock market in 2018. Thanks to higher volatility, the rally in energy prices and some well-placed bets in fixed income, managers in the $3.2 trillion hedge fund industry posted a 0.38 percent gain in April that brings the total return for […]
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