The second-quarter results are in, and Wall Street loves what it’s seeing. After an impressive double-digit gain in the first quarter, the S&P 500’s earnings per share increased another 10.8 percent through July after companies reported their numbers. That marks the first time the index has posted two quarters in a row of double-digit gains […]
Read moreIf more than one member of President Donald Trump‘s team resigns, the Dow could fall 500 points or more, closely followed trader Art Cashin told CNBC on Friday. “If you had more than one resignation … I think it would have a very formidable effect — 500 or 1,000 points on the Dow possibly,” UBS’ […]
Read moreBitcoin has had a stellar year and one of Wall Street’s top strategists thinks it can rise 40 percent more by next year. Tom Lee, founder of Fundstrat Global Advisors, established a mid-2018 target of $6,000 on the cryptocurrency. Bitcoin traded at $4,284.14 on Friday, according to Coindesk. For the year, bitcoin has surged nearly […]
Read moreBlackstone’s Byron Wien, who’s been working on Wall Street for more than a half century, thinks the recent stock market weakness on diminishing prospects for President Trump’s business-friendly agenda is nothing for investors to panic about. “I’m worried he won’t get a lot of his program through, but offsetting that is the economy doing better […]
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Stocks have been surprisingly resilient in the face of bigger picture risks around the world, though some would argue that it isn’t all that surprising. There hasn’t been a significant pullback in the U.S. markets since the end of 2015 into early 2016, when the S&P 500 fell by around 14 percent between early November […]
Read moreCloudflare CEO Matthew Prince told CNBC on Friday his web service company ended its relationship with a neo-Nazi propaganda site once it became “a massive distraction.” On Wednesday, Cloudflare abruptly canceled the account of the neo-Nazi site The Daily Stormer after the site claimed that Cloudflare held “secret support” for its beliefs. The Daily Stormer […]
Read moreAs the political turmoil and high stock valuations in the U.S. create an uncertain market for investors, emerging markets appear to be facing a goldilocks global environment. Fairly synchronized growth recovery, low inflation and amply accommodative monetary policy in advanced economies have created a sweet spot for the developing nations. Indeed, growth is picking up […]
Read moreFor the past week, Uber’s board members have been embroiled in conversations over a thorny question: what to do about Benchmark, the venture capital firm that is one of the ride-hailing company’s largest shareholders. While Benchmark had long supported Uber’s management, the investor had recently turned against the company’s top echelons. In June, Benchmark helped […]
Read moreSeveral people were stabbed in the Finnish city of Turku, police said on Friday, adding they had shot at and arrested one person. People should stay away from the city center, police said on their Twitter account. The Turun Sanomat newspaper reported that at least one person was killed in the attack. Finnish police said […]
Read moreWhy did Goldman Sachs do so poorly trading in its second quarter earning report, while its competitors such as Morgan Stanley did better? That was the big question asked by many investors and we’re beginning to find out the reason. Wall Street Journal is reporting Goldman’s weak trading results were partly due to a bad […]
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