Morgan Stanley said on Friday it would take a $1.25 billion hit in its fourth-quarter earnings due to a cut in the corporate tax rate as part of the U.S. tax code overhaul. The net blow of the bill to the bank will include about a $1.4 billion net discrete tax provision, mainly due to […]
Read moreWith a flurry of financial earnings coming next week, one market watcher is naming two stocks investors should consider. Strategic Wealth Partners’ Mark Tepper likes J.P. Morgan and BlackRock, which report earnings next Friday morning. Wells Fargo and PNC Financial also report earnings that day. Here are Tepper’s takes on the stocks: A ‘Dimon’ in […]
Read moreWall Street’s eye-popping gains should be of great concern to global investors, an analyst told CNBC on Friday. The Dow Jones Industrial Average broke above 25,000 for the first time on Thursday, following the release of stronger-than-expected jobs data. It was the fastest 1,000-point move in the Dow’s history after the 30-stock index broke above […]
Read moreAfter the Dow Jones industrial average hit 25,000 on Thursday, the so-called godfather of technical analysis, Ralph Acampora, told CNBC he thinks the blue-chip index can soar another 3,000 points this year. His near-term target is 25,900, which he thinks will be hit “very easily,” and his secondary target for the year is 28,700. “I […]
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As the Dow Jones industrial average crosses 25,000, the popular stock market gauge gives President Donald Trump yet another opportunity to crow about growth since his election in November 2016. However, he may end up regretting his decision to latch onto such a fickle indicator. Markets go up and markets go down, and using stocks […]
Read moreSome of the biggest Dow dogs are howling this year, and one market watcher sees further upside ahead for one name in particular: Exxon Mobil. After falling 7 in 2017, Exxon shares have rallied 4 percent this week. With a dividend yield of 3.54 percent, the stock is one of the biggest Dow dogs; the […]
Read moreWith the Dow breaking 25,000 for the first time, President Donald Trump is taking credit and hoping for more gains. “I guess our new number is 30,000,” Trump told reporters Thursday. “There were those that said we wouldn’t break 25,000 by the end of the eighth year [of my administration], and we’re in the 11th […]
Read moreThe Securities and Exchange Commission warned Thursday that investors should “exercise caution” with cryptocurrencies like bitcoin, noting state and federal regulators may not be able to recoup any lost investments from illegal actors. Many promoters of initial coin offerings (ICOs) and other cryptocurrency investments are not following federal and state securities laws, SEC Chairman Jay […]
Read moreDavid Tepper of Appaloosa Management, one of the most respected investors in the hedge fund business, told CNBC on Thursday the bull market still has room to grow. “Explain to me where this market is rich? It’s not rich with the tax thing that just changed earnings projections. With earnings forecasts going up and interest […]
Read moreShares of marijuana-related companies tumbled Thursday on a report that Attorney General Jeff Sessions is planning on ending a policy that allowed pot legalization to thrive. NBC News’ Pete Williams confirmed Sessions made the decision to rescind an Obama administration 2013 memo, which stated it would not stand in the way of states that legalize […]
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