Bitcoin made a comeback despite crashing after a recent hack on a South Korean exchange, and two cryptocurrency traders explained why it rebounded. Charlie Lee, the founder of Litecoin, a global decentralized currency that is based on blockchain technology, said it was to be expected. “Whenever there’s an exchange hack, people get scared and the
All CNBC’s Jim Cramer heard after news broke that Walgreens would replace General Electric in the Dow Jones industrial average was that “this has to be the bottom” for shares of GE. But after hearing people call “bottom” in the ailing industrial’s stock over and over again, the “Mad Money” host wasn’t so sure. Since
The acting director of the Consumer Financial Protection Bureau says until the agency breaks out of Senator Elizabeth Warren’s shadow, it cannot operate as a “gold-standard” regulator. “We are still Elizabeth Warren‘s baby,” CFPB Acting Director Mick Mulvaney said at the Future of Fintech conference in New York Wednesday. “Until we break that we will
The Disney–Comcast bidding war for Twenty-First Century Fox’s movie and television assets will continue until the bid is around $40 to $45 a share, media expert Porter Bibb told CNBC. And Disney will end up the winner, said Bibb, managing partner at Mediatech Capital Partners. “Disney is the future,” Bibb said on “Power Lunch” Wednesday.
The Free Application for Federal Student Aid, or FAFSA, the form that colleges and universities use to determine a student’s need for financial aid, has protections in place for student earnings. For the 2018-19 school year, the amount a student can earn before it is counted as income is $6,570. To make more than that,
San Francisco is home to beautiful vistas, yet retirees may want to resist settling down in the Bay Area. That’s because it’s the worst city in the country to retire if you’d like to keep more of your cash in your pocket, according to an analysis from GoBankingRates. The personal finance website looked at major
Stitch Fix shares jumped more than 14 percent Wednesday afternoon on speculation via social media that media mogul Oprah Winfrey would be taking a stake in the subscription box company. A representative for Winfrey later told Bloomberg the speculation wasn’t true. Stitch Fix declined CNBC’s request for comment. Stitch Fix’s stock later trimmed back more
Alphabet opened at $1,183 a share, implying that it would carry about three times the weight of Boeing. Amazon opened at $1,742, implying about five times the Boeing weight. (Facebook opened at $199.10 a share Wednesday, which would have put it just outside the top five in price terms on the Dow.) Put them together
Thomas M. Barwick | Getty Images Retiring baby boomers will more than double Medicare and Medicaid costs by 2020, according to industry data. Retirement savers who have contributed the maximum to their 401(k) plans don’t have to look far for the next big growth opportunity for nest eggs: It’s right in their health-care plans. Say
“There are more individuals in that age cohort who are employed,” said Michael Cohen, director of advisory services at CoStar. “We also should see some wage gains in that age range. … Both of those things help.” Cohen said the tight labor market — overall unemployment is about 3.8 percent — has led to a
The spectrum of professionals who claim to offer financial advice is a broad one — so broad, in fact, that it can be difficult to define exactly what “financial planners” are and the kinds of skills they should bring to the table in their work with clients. Amid the alphabet soup of acronyms that may
The Dow is on its longest losing streak in more than a year as the U.S. and China try to top each other’s tariff threats in an escalating trade conflict. But David Spika, president of GuideStone Capital Management, says a far larger risk looming over markets could trigger a “day of reckoning.” “Fears of a
If you want to have a financially savvy college student, start talking to your child about money while she’s still in diapers. It’s never too early to begin talking to your kids about financial literacy, said certified financial planner Marguerita M. Cheng, CEO and co-founder of Blue Ocean Global Wealth in Gaithersburg, Maryland. “The key
The stock market may be on the verge of an even deeper decline. Federated Investors’ Phil Orlando is out with a note suggesting a cruel summer for stocks has arrived. “We’re expecting an air pocket here that will take the market down to let’s say the 200-day moving average over the summer months,” the firm’s
Check out the companies making headlines before the bell: Winnebago – The recreational vehicle maker earned $1.02 per share for its latest quarter, beating estimates by 11 cents, with revenue well above estimates as well. The company said new products are performing well and that it is also successfully managing its costs. General Electric –
Kroger reports earnings on Thursday, and one derivatives expert says the options market is implying a relatively tame move on the report. That’s not always the case. “To say this stock has had a wild ride over the last year would be an understatement,” Stacey Gilbert, head of derivative strategy at Susquehanna, said Tuesday on
South Korea-based cryptocurrency exchange Bithumb said Wednesday it was temporarily suspending deposit and withdrawal services after about $30 million worth of cryptocurrency was stolen. The Seoul-based operator said on Twitter that the stolen coins would be covered from Bithumb’s own reserves and that all users’ assets are being transferred to safer “cold wallet.” Tweet 1:
As the first major economy to fully legalize cannabis, Canada’s regulatory rollout will be closely watched by other nations considering the same path – and by global investors, who have already poured billions into Canadian marijuana firms. Canadian marijuana companies like Canopy Growth, Aphria, Horizons Marijuana Life Sciences ETF and Aurora Cannabis have been at
Oracle reported better-than-expected earnings for its fiscal fourth quarter after customers spent more money on cloud services. The stock rose slightly in extended trading after falling 0.5 percent to $46.27 at the close. But after the company provided guidance, the stock tumbled. Here are the numbers: Earnings: Excluding certain items, 99 cents per share vs.
Mark Lennihan | AP Billy McFarland, the promoter of the failed Fyre Festival in the Bahamas, leaves federal court after pleading guilty to wire fraud charges, Tuesday, March 6, 2018, in New York. Billy McFarland, who got in trouble last year for duping people into buying tickets to a fake concert in the Bahamas, is
In response, the Chinese Commerce Ministry said the latest threat of more tariffs violates previous negotiations, and Washington “has initiated a trade war that violates market laws and is not in accordance with current global development trends.” Blankfein, who is preparing an exit from his job after a 12-year tenure as CEO, said this is
The Trump administration’s history with trade has been volatile for stocks, usually sending them lower at first, but investors who have bought equities on those dips have been rewarded. The Dow Jones industrial average, S&P 500 and Nasdaq composite this year dropped on average at least 0.4 percent immediately after an announcement on trade policy
Investors should sell Snap shares because a survey shows time spent per user on its app is declining, according to one Wall Street firm. Cowen reiterated its underperform rating on Snap shares, predicting the social media company will report sales below expectations. “We trimmed our 2Q18, FY18-FY23 estimates, lowering our revenue / EBITDA forecast on
The combined wealth of the world’s millionaires rose for a sixth straight year and topped $70 trillion for the first time ever in 2017 thanks to an improving global economy and strong stock market performance, according to a new report released Tuesday. The world’s millionaires saw their wealth grow 10.6 percent to a record $70.2
Credit scores greatly impact a consumer’s financial moves — and how much they’ll pay along the way — yet many don’t even know how the rating works. Around 40 percent believe, incorrectly, that age and marital status play a role in their three-digit score, according to the Consumer Federation of America’s credit card survey, which
Jill Brady | Portland Press Herald | Getty Images If a student invested $1,300 in Netflix stock in 2014, after three years they would have $4,527. Are you a student and think investing is something that only people with full-time jobs can do? Well, think again. “If you have enough cash to leave a 10-buck
Martin Dimitrov | Getty Images A whopping 87 percent of millennials say they have been broke in the past or are currently broke, according to a survey by CreditLoan. Most people feel like an adult at age 18, but these days they might not become financially independent until almost a decade later. In fact, more
David Paul Morris | Bloomberg | Getty Images Brian Krzanich, chief executive officer of Intel Corp., holds up a 49-qubit superconducting quantum test chip named ‘Tangle Lake’ while speaking during a keynote address at the 2018 Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S., on Monday, Jan. 8, 2018. By revenue, chipmakers face the
Because of this, financial advisors generally recommend that you hold off on claiming as long as you can. Admittedly, that can be a gamble. “You’re always betting you’ll live longer and get more money,” said Geri Eisenman Pell, CEO of Pell Wealth Partners at Ameriprise Financial. “The government is asking us to make a calculated
The most common way financial assets are forgotten, and then “escheated” by the state, is by not organizing your financial affairs and leaving investment accounts at multiple financial institutions. Escheat occurs when unclaimed financial assets, such as those in a bank or investment account, have been dormant for a long period of time. These assets
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