The Tax Cuts and Jobs Act, the new tax framework that President Donald Trump signed into law 1½ weeks ago, will take effect in the 2018 tax year. Even though you won’t see the impact of the new law on your finances until you file in 2019, Tisdale recommends that you get familiar with the
Month: December 2017
Revelers may be ringing in another record year for Wall Street. Veteran market watcher Art Hogan, chief investment strategist at B. Riley FBR, believes stocks are in the middle of a “spectacular two year run.” He sees financials, energy and industrials leading the gains in 2018 as technology begins to take a back seat. “I
“People end up being trapped in the credit card cycle, where they are constantly catching up,” said Capalad. Breaking out requires a concerted effort. First step: Curtail new credit card debt. Shift recurring purchases to a debit card or checking account, she said. Do the same with discretionary purchases that can add up fast, such
Starting New Year’s Day, the sale of marijuana for recreational use will be permitted in California, the country’s most populous state. What does that mean for air travelers who try to bring small amounts of marijuana with them? That is a conundrum for the state’s airports, which are locally owned and operated but are subject
North Korea said Saturday that it will never give up its nuclear weapons as long as the United States and its allies continue their “blackmail and war drills” at its doorstep. The North’s official Korean Central News Agency took the oft-repeated stance as it reviewed the country’s major nuclear weapons and missile tests this year.
In a New Year telegram to U.S. President Donald Trump, Russia’s President Vladimir Putin says a constructive dialogue between the two nations is essential for global stability. The Kremlin said Saturday that Putin emphasized in his Seasons Greetings to Trump that Russia and the U.S. could develop a “pragmatic cooperation aimed at long-term perspective” on
As investors increasingly turn to passive investment vehicles such as ETFs, this year the funds saw record-breaking inflows of $476 billion and assets under management climb to $3.4 trillion. Even traditional money managers have rushed to launch their own exchange-traded funds. But the hot money has flowed into niche funds offering exposure to bitcoin, electric
As of Monday, parents will be able to ramp up on tax savings to help cover the cost of private school. The Tax Cuts and Jobs Act has expanded the use of 529 plans – accounts that allow savers to accumulate money and pay for college on a tax-free basis – to include elementary and
“If someone is going to use medical services and has a $1,000 deductible, that will be $1,000 out of their pocket,” Foster said. “Generally, it’s best to make sure your FSA contributions at least align with the deductible on your insurance plan.” FSA dollars can be used to cover a broad range of costs. In
The shares were about 0.4 percent lower midday Friday. The stock has drastically underperformed its peers this year, up just 6.8 percent versus J.P. Morgan Chase‘s nearly 25 percent gain and even scandal-ridden Wells Fargo‘s roughly 11 percent rise this year. “I very definitely think that Goldman Sachs will grow faster than the group” next
U.S. stocks closed lower Friday, the last trading day of the year, with no S&P 500 sectors ending higher. The S&P 500 closed about half a percent lower but still held gains of 19.4 percent for the year, its best since 2013. Information technology soared 36.9 percent and materials gained 21.4 percent as the top
Ripple surged more than 30 percent Friday to an all-time high, briefly surpassing ethereum as the second-largest cryptocurrency by market capitalization. Officially called XRP, ripple climbed nearly 33 percent to a record high of $1.90 and traded near $1.81 Friday morning, according to CoinMarketCap. The digital currency briefly had a market cap of more than
But many investors, on Main Street and Wall Street, disagree. Ark Investment Management founder and CEO Catherine Wood, an early believer, told CNBC on Thursday that bitcoin is “so much bigger an idea than even Apple, which is a pretty big idea.” Roger McNamee, co-founder of venture capital powerhouse Elevation Partners, also said Thursday on
The U.S. dollar saw a stunning spiral downward this year, now tracking for its worst since 2003. One strategist closely looking at the dollar’s technical setup says the greenback’s current levels are at a key juncture. Matt Maley, equity strategist with Miller Tabak, breaks down possible scenarios for the dollar as it trades near these
The “Fast Money” traders shared their first moves for the market open. Pete Najarian is a buyer of JPMorgan. Tim Seymour is a buyer of Sea Limited. Carter Worth is a buyer of PotashCorp. Dan Nathan is a buyer of AutoNation. Trader disclosure: On December 28, 2017, the following stocks and commodities mentioned or intended
Difficult times for Chipotle shareholders will not turn around anytime soon, according to one Wall Street firm. Cowen reiterated its underperform rating on Chipotle shares, predicting the company’s fourth-quarter sales will come in below expectations. “If Facebook check-in’s are indicative of traffic, data suggests the most recent weekly trend weakened to the softest levels of
China’s Huawei on Friday flagged overall and smartphone revenue figures for 2017 that represented its slowest growth in four years, and vowed to extend its global reach with more premium products next year. The telecom equipment and smartphone maker expects 2017 revenue to rise 15 percent to 600 billion yuan ($92.08 billion), Chief Executive Ken
After a record 71 closes for the Dow so far this year, one of this year’s biggest bulls is taking a more subdued view of the stock market. PNC Asset Management’s Bill Stone is telling investors not to expect such a big year in 2018. “I’ve gotten a little less optimistic. It’s not bad. I
Wall Street economists are warming to the idea that the Fed may raise interest rates four or more times next year, moving faster than its current forecast. The Fed has been forecasting three interest rate hikes for 2018, but the market has spent the past year doubting it will move even twice because of the
High-flying Amazon‘s record run will continue into next year. That’s according to Todd Gordon, founder of TradingAnalysis.com, who says the charts are pointing to record highs for Amazon in early 2018. The online retailer has already surged 58 percent this year, and Gordon says the stock is poised to exceed the $1,200 mark. “[There has
U.S. equity: 38 percentInternational equity: 34 percentU.S. fixed income: 23 percentOthers: 5 percentSource: ETF.com Not surprisingly, high yield bond ETFs (HYG) saw outflows, but they were modest. Mexico ETFs were also a loser (a reverse Trump trade). Gold miners also saw outflows, and despite talk of an infrastructure plan, utilities and transports both had negative
Goldman Sachs said on Friday it expects fourth-quarter earnings to decrease by about $5 billion due to the new U.S. tax law signed by President Donald Trump last week. Around two-thirds of the $5 billion decrease is due to repatriation tax, Goldman said in a statement with the U.S. Securities and Exchange Commission. However, the
The Vietnam Stock Index increased 46.9 percent year-to-date as investors bought into the country’s rapidly-growing economy. The country is technically still classified as a frontier market by MSCI, but has been working on improving accessibility to foreign investors as it tries to get an upgrade to emerging market status. Besides encouraging local companies to publish
“Though we have seen some progress in the Brexit negotiations, GBP still probably remains a currency that some investors have stayed underweight and could surprise as an outperformer,” Tuchman, from Citi, told CNBC. At the same time, the Bank of England, which raised rates for the first time in more than a decade in November,
For the newly-minted Asia guru at Pimco, there couldn’t be a better time to be in Asia as the region’s strong growth story extends beyond China. India, for instance, is a country with high growth, high rates and a stable currency that is attractive to fixed income investors, said the portfolio manager. Over in Southeast
Bitcoin might be all hype, but it could withstand a crash and become legitimate, particularly if it sees enough gains in 2018, according to tech investor Roger McNamee. Bitcoin is “still a very small market in the context of the larger financial world, but it has had a huge year. We’ve done it around a
For a market dependent on synchronized global growth, investors may be betting too much that China will not rock the boat next year. Part of the S&P 500’s rally to record highs this year comes on the back of better economic growth around the world. A major contributor to that growth was stability in China
Check out the companies making headlines after the bell Thursday: Apple stock dipped slightly after the bell. The tech giant on Thursdays issued an apology to customers, after reports emerged that Apple introduced software that intentionally slows-down iPhones with older batteries. Shares of Mosaic rose more than 1.6 percent in relatively light volume after hours.
Investors haven’t been big believers in Tesla the last few days. The stock is down 5 percent in the past week, and falling back into bear market territory after renewed fears over the company’s Model 3 production had investors hitting the sell button. As far as the stock’s future performance is concerned, it all comes
For instance, in New Rochelle, New York, where a portion of taxes due in 2018 (and already assessed) are being accepted early, residents already have prepaid about $15 million. The average annual property tax bill there tops $18,000. “What we’re telling residents is that we’ll accept these prepayments but they should check with a financial
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