Interest rates and classic measures of inflation have been pinned down to historically muted levels in recent years. As both show signs of creeping higher, some market watchers see the combination as a potential headwind for stocks. Inflation and the 10-year Treasury yield rising together are of particular importance to Mike Binger, senior portfolio manager […]
Read moreUnion Pacific shares dropped more than 5 percent Thursday after it announced its operating ratio rose in the fourth quarter, a disappointment as the rail giant aims to boost efficiency. Union Pacific is targeting a 60 percent operating ratio by 2019 but saw the measure rise 0.6 points to 62.6 percent in the fourth quarter. […]
Read moreA multibillion-dollar hedge fund is not high on marijuana stocks. Lakewood Capital Management, led by Anthony Bozza, revealed short positions in Canopy Growth and Aurora Cannabis, according to the firm’s fourth-quarter investor letter sent Wednesday and obtained by CNBC. The firm has about $5 billion in assets under management. “It has been hard to come […]
Read moreBiogen shares briefly rose 3 percent Thursday after the U.S. drugmaker reported better-than-expected quarterly revenue and an upbeat 2018 forecast. The Massachusetts-based biotech company also said it agreed to buy an experimental brain disorder drug for up to $217 million, a notable purchase as some on Wall Street speculate whether the company could be near […]
Read moreEvidence doesn’t support Philip Morris International’s claims that its heat-not-burn tobacco product cuts the risk of tobacco-related diseases and is likely to switch adult cigarette smokers, regulatory advisors said. PMI is seeking approval from the U.S. Food and Drug Administration to market its heat-not-burn tobacco product as less risky than cigarettes. PMI says it has […]
Read moreThe greenback slid further Thursday after the Trump administration was seen as stepping back from the strong dollar policy that has been in place since the 1990s. The dollar index was slightly lower, after falling sharply Wednesday on the initial comments from Treasury Secretary Steven Mnuchin that a weak dollar was good for U.S. trade. […]
Read moreSeth Klarman, the value investing giant who draws comparisons to Warren Buffett, says he is not a believer in cryptocurrencies. “While we have long had our own concerns over the tendency of central bankers to debase paper currency by printing more and more of it, the proliferation of hundreds of virtual currencies seems far more […]
Read moreApple has lost some of its bite, one strategist says. Fiercer competition and an inflated belief in its own products are among some of the challenges facing the world’s largest company, according to BK Asset Management’s Boris Schlossberg. “I do think they’re in trouble. I think they’re making a huge mistake,” Schlossberg, managing director of […]
Read moreSome words have enormous influence on the stock market. And then there are social media posts by President Donald Trump. During his first year in office, Trump didn’t disappoint his followers on Twitter, rattling off a nearly daily diary of personal thoughts and reactions to news events, real or imagined slights, and popular culture. Some […]
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The U.S. dollar index fell to a three-year low Wednesday and looks set for more declines after Treasury Secretary Steven Mnuchin said a weak dollar was good for U.S. trade. The dollar index is now down 10 percent in the past year and broke below the key 90 level after Mnuchin’s remarks. According to Kensho, […]
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