Month: September 2017

At the height of the 2007-2009 financial crisis, the S&P 500 Index plummeted as much as 58 percent. It happened in March 2009. “This market at 24 times GAAP earnings, 21 times operating earnings, 100 months into a business expansion with the kind of troubles you have in Washington, central banks [are] going to the
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But researchers here also try out new ideas. Looking to build a new system for searching with images instead of words, a team in Bangalore turned to Watson to index 600,000 photos from the world’s top fashion shows and Bollywood movies. Last spring, a major Indian fashion house, Falguni Shane Peacock, tried the tool, which
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The divisions between Uber and its former chief executive, Travis Kalanick, are widening. For the past few weeks, Mr. Kalanick, who had resigned as chief executive in June, kept a low profile. Last month, Uber installed a new chief executive, Dara Khosrowshahi, and the company appeared to be trying to get past a turbulent period
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In his decades of investing, CNBC’s Jim Cramer has never liked the month of September. But this one turned out to be different. The “Mad Money” host expected waves of hedge fund selling, politically-charged stock declines and negative earnings pre-announcements from companies experiencing a summer slowdown. But none of those happened. So, with the market’s
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Many may think that artificial intelligence will eventually make human capabilities obsolete, but CNBC’s Jim Cramer wanted to refine that theory. “I get the sense that when it comes to the power of artificial intelligence, we’re thinking way too small,” the “Mad Money” host said. “We don’t understand that AI might hold the key to
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The GOP tax reform plan unveiled Wednesday would lead to broad reinvestment in manufacturing, according to a survey of American producers released Friday. “Two-thirds of manufacturers said, specifically, that if we get this tax plan through, they’ll invest in new plants and equipment, and hire new workers,” Jay Timmons, CEO of the National Association of
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Boeing is enjoying an impressive winning streak. The company’s shares just logged their sixth consecutive quarter of gains, and have risen in 11 of the last 13 months. The stock is on pace to close out this quarter as the Dow’s best performer, wrapping up its best quarter since 2009. And the aircraft manufacturer has
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Andrew Harrer | Bloomberg | Getty Images Travelers wait in line before going through Transportation Security Administration screening at Ronald Reagan National airport in Washington, D.C. The days of rock-bottom Thanksgiving airfares are over. Roundtrip domestic U.S. flights are about 13 percent more expensive this year than in 2016, fetching about $325 on average as
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Biotech stocks fell Friday, a day after the U.S. Food and Drug Administration made its database of side effects for medicines searchable. Sarepta Therapeutics, Ionis Pharmaceuticals, Biogen and Acadia Pharmaceuticals all traded lower Friday morning as investors turned up reports on their medicines on the FDA’s Adverse Events Reporting System, or FAERS. The problem? It’s
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Charles Mostoller | Bloomberg | Getty Images Patrick Harker, president of the Federal Reserve Bank of Philadelphia. Philadelphia Federal Reserve Bank President Patrick Harker said Friday he still has “penciled in” an interest rate hike in December, and three more rate hikes next year, despite weak inflation. “Labor markets feel really tight,” Harker said at
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As U.S. stocks continue to grind higher, closely followed strategist Jeff Saut told CNBC on Friday that the current bull market likely has about six to eight years left to run. “Secular bull markets have three legs. The first leg ended in May of 2015,” said Saut, chief investment strategist at Raymond James. “We started
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CNBC’s Jim Cramer said Friday that Wall Street is witnessing the best bull market in homebuilders that he can “ever recall” but Congress is “fooling around” with it. After the bell Thursday, homebuilder KB Home beat Wall Street’s quarterly earnings and revenue estimates and saw average selling prices rise by 12 percent, with profit margins
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