Global markets have been jittery over the last 24 hours, after the U.S. 10-year Treasury yield topped 3 percent on Tuesday — the first time it has done in more than four years. Investors around the world have been fixated on the 10-year note, with concerns looming that hitting the 3 percent barrier could trigger
Bitcoin rose to its highest level in more than a month as the broader U.S. financial markets sold off Tuesday. The digital currency was trading near $9,436 as of 4:21 p.m. ET, and has jumped nearly 20 percent in the past week, according to data from Coindesk. Bitcoin is coming off of its worst quarter
Kentucky Derby hopeful Gronkowski will miss next week’s Run for the Roses. Phoenix Thoroughbreds said Gronkowski spiked a fever over the weekend and was immediately treated with antibiotics. While the sudden illness seems minor and the colt has been eating heartily and otherwise responding well to treatment, the condition will prevent his shipment to Louisville,
To create its look at the rich state-poor state retirement divide, the website compared income from sources such as pensions and 401(k) plans as well as Social Security for Americans age 65 or older. The study found that retirees in the three richest states collect nearly $20,000 a year in Social Security benefits, while those
Something strange happened in the stock market Tuesday as big stocks reversed sharply lower after opening higher. Thirty stocks in the S&P 500 dropped more than 5 percent from their opening prices with many of the names concentrated in the industrial and technology sectors. The industrial stocks’ decline is likely due to a Caterpillar management
Just because some people don’t want Facebook using their data to make a profit doesn’t mean they wouldn’t be willing to do so themselves. The typical American even has an asking price for their social media data: Around $2,160. But residents in some states value their information more than others. For example, people in Vermont
“We view the openness to negotiations as a positive first step that could move the two sides to potential solutions on some issues,” Ed Mills, Washington policy analyst at Raymond James, said in a Tuesday note. “But there are many issues to resolve and plenty of potential pitfalls along the way.” Last week, the U.S.
Sotheby’s on Tuesday unveiled a painting by Amedeo Modigliani that’s expected to fetch more than $150 million at next month’s auction, making it one of the most expensive ever to go under the hammer. The painting, called “Nu couche (sur le cote gauche),” or “Reclining nude,” adds to the bonanza of high-priced art expected to
Restaurant Brands International’s first-quarter profit topped analysts’ estimates on Tuesday, vindicating the company’s strategy of cheaper meals and more breakfast options at the Burger King chain. The company, which is striving to better compete with McDonald’s and Yum Brands’ KFC, said same-store sales at Burger King rose 3.8 percent in the three months ended March
3. Freeze your child’s credit Depending on the state where you reside, you may be able to proactively freeze your child’s credit file so that no one (not even your child) can open new lines of credit in his or her name, Velasquez said. Check with your state attorney general and the three major credit
Britain’s TSB bank, owned by Spain’s Banco Sabadell, took down its mobile app and online services on Tuesday in an attempt to fix technical problems which have locked customers out of their accounts. The bank said about 402 customers on Sunday were able to see data that they would not usually see online, often of
So has the Fed, according to Bazdarich. In his first testimony before Congress in February, Fed Chairman Jerome Powell said he was more confident that “inflation was moving up to target” — the target being 2 percent. The Fed has indicated it will continue to raise short-term interest rates to make sure inflation doesn’t increase
The goal, he said, is “inspiring and motivating students to figure out what their hobbies are and how to take that to the next level.” The counselors at Command Education are all very recent graduates of the nation’s most competitive schools. The oldest senior counselor is 26. “We’re non-parental,” Rim said. “Because of that, students
The stereotypical child star generally is not known for being good with money. Yet Cary Guffey, who played Barry, the young boy abducted by aliens in director Steven Spielberg’s 1977 classic Close Encounters of the Third Kind, now oversees $170 million in assets as a financial advisor with PNC Investments. More from Investor Toolkit:How to
Hedge fund billionaire Steve Cohen’s venture capital investing arm is going all in on fintech. On Tuesday, Point72 Ventures will announce it led a $3 million investment in a startup called Extend, which has built mobile technology business owners can use to share their corporate credit cards with employees and freelancers without handing over the
IPhone’s falling sales will hurt a key Apple supplier, according to a Wall Street firm. Mizuho Securities lowered its rating to neutral from buy for Skyworks Solutions shares, predicting the chipmaker will face pricing pressure later this year. The supplier manufactures radio frequency semiconductors, which enable the ability of smartphones to communicate with wireless networks.
Drug developer Biogen reported a 11.4 percent rise in quarterly revenue as sales of key drugs Tecfidera and Spinraza climbed, albeit at a weaker-than-expected pace. The company’s top-earning multiple sclerosis drug Tecfidera brought in a revenue of $987 million in the quarter, falling short of analyst estimate of $1.02 billion. Sales of spinal muscular atrophy
While definitions of these funds abound, as the name implies, they aim to beat the market (beta), either with better performance or better management of risks. They try to do that by tracking an index weighted according to factors other than market capitalization, such as dividend-paying policies, fundamental strength, value, momentum or low volatility. In
Brendan McDermid | Reuters United Technologies Chairman and CEO Greg Hayes gives an interview to CNBC on the floor of the New York Stock Exchange, September 5, 2017. United Technologies’ quarterly profit topped analysts’ estimate on Tuesday on higher demand for its spare parts and services from airlines, and the company raised its full-year earnings
Looking to today’s trading session in Europe, earnings season continues to deliver a fresh cluster of financial updates from leading businesses. Kering, SAP, Telecom Italia, AkzoNobel, Randstad, Santander, Volvo Group, Swedbank, Anglo American, Shire and the London Stock Exchange are just a handful of those slated to publish results. In markets overseas, stocks in Asia
Hasbro is the toy company most likely to survive the post-Toys R Us era, Susan Anderson, analyst at B. Riley FBR, told CNBC. “They’re well-positioned with their strategy,” Anderson said Monday on “Power Lunch.” Her firm has an outperform rating on Hasbro. “They have six Marvel films coming out this year,” she said. “They’ve done
Check out the companies making headlines after the bell on Monday: Cadence Design Systems stock surged more than 11 percent in after-hours trading. The software and engineering services company reported first quarter financial results that beat analyst expectations. Cadence reported EPS of $0.40 on revenue of $517 million versus the $0.37 on $505 million analysts
If a school offers a student money that’s considered taxable income — perhaps as part of a teaching assistantship or fellowship — then it must provide the student with a Form W-2, reporting taxes withheld. Prior to tax time, your school will also report qualified tuition expenses on Form 1098-T, along with the details on
Founder Mark Zuckerberg‘s apology before Congress came off as insincere, Gundlach added, and the company’s fortunes are changing. Supporters, he said, argue that “regulation outprices competition,” but Gundlach said “equity bubbles pop by regulation.” The pair trade of energy exploration and technology seems incongruous, but such efforts have paid off before. Looking at the diversion
SAN FRANCISCO — Gary Gensler was one of the top financial regulators in the Obama administration, the finance chief for Hillary Clinton’s 2016 presidential campaign and, before both of those jobs, a partner at Goldman Sachs. Now, like many other big names from business and government, he is plunging into the world of the blockchain,
Big banks are making it easy to zap money to your friends. Maybe too easy. Zelle, a service that allows bank customers to instantly send money to their acquaintances, is booming. Thousands of new users sign up every day. Some $75 billion zoomed through Zelle’s network last year. That’s more than twice the amount of
A Roth individual retirement account is one of the best ways for millennials to begin saving for old age, according to financial advisor Winnie Sun. “It’s the perfect framework to get you started to save for retirement, while giving you lots of liquidity and options between point A and point Z,” said Sun, founder of
In the United States, stocks opened slightly higher on Monday, with Merck and Caterpillar helping lead the gains. Wall Street also zeroed in on interest rates as they pushed higher. The 10-year Treasury note yield hit a high of 2.99 percent, threatening once again to reach 3 percent. The benchmark rate last traded at 3
Aaron P. Bernstein | Reuters Federal Reserve Chairman Jerome Powell speaks at a news conference following the Federal Open Market Committee meetings in Washington, U.S., March 21, 2018. The market is finally coming around to the idea that the Federal Reserve this year will be raising interest rates a total of four times. Though some
Needham downgraded Lululemon stock on Monday to hold from buy, saying the athletic apparel maker faces tough year-over-year sales growth comparisons. “We think [long-term] drivers remain intact (international, e-commerce, and men’s) and 1Q18 should be good on a strong start to the year and easy comparisons,” analyst Rick Patel said in a note to clients.
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