Everyday Americans are being left behind because of President Donald Trump‘s tax cuts — and one solution could be to tax the rich, civil rights leader and two-time presidential candidate Jesse Jackson Sr. told CNBC on Wednesday. “There must be some kind of wealth tax,” the president and founder of the Rainbow PUSH Coalition said
Month: February 2019
Check out the companies making headlines after the bell: Avis Budget shares soared nearly 11 percent after hours Wednesday following the release of the rental car company’s fourth-quarter earnings beat. Earnings per share were 53 cents, beating estimates of 37 cents. Revenue was posted as $2.05 billion, compared to the $2.04 forecast by analysts surveyed
Semiconductor stocks are on a tear. The SMH semiconductor ETF and SOXX iShares semiconductor ETF have both rallied 18 percent so far this year, tracking for their best quarters since September 2016. The XSD S&P semiconductor ETF has done even better, racing more than 20 percent higher for 2019. Todd Rosenbluth, director of ETF and
Disney, Nestle and “Fortnite” maker Epic Games have paused advertising on YouTube after reports of a pedophile network rampant in the comments of monetized videos, according to Bloomberg and spokespeople for the companies. The controversy stems from reports that pedophiles have latched onto videos of young children, often girls, marking time stamps that show child
This tax season has been an eye-opener for filers. It marks the first time people are submitting their returns under the Tax Cuts and Jobs Act, an overhaul of the tax code that went into effect in 2018. Major changes from the new law include a higher standard deduction ($12,000 for singles and $24,000 for
Last year, many states, including Arkansas and Wisconsin, introduced legislation to include K-12 tuition as a qualifying education expense for their 529 plans. As a result, residents in those states can deduct their contributions for those costs from their state income tax bill, up to a certain amount. Other states, such as North Dakota and
If you can’t see it, will you believe in it? The “it” takes different forms, depending on the context. If the focus is black wealth, the “it” represents the stock market. And in this context, investing time, energy and even money into something unseen can translate into a very risky proposition. If wealth is a
Tesla is experiencing the same kind of skepticism that e-commerce giant Amazon faced in its early days, and the electric automaker is also going to prove the naysayers wrong, Tesla shareholder Cathie Wood told CNBC on Wednesday. Wood, ARK Invest’s chief whose bull case famously sees Tesla at $4,000 per share in five years, defended
Most money conversations I have with my clients are really about values, hopes, dreams and, overall, making the most of their lives. When I ask a client how her granddaughter is, she won’t say “Great, her UTMA account was up 2 percent last month in a down market!” But that leads me to wonder about
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of U.S. Steel. Brian Kelly was a buyer of Freeport-McMoRan. Karen Finerman was a buyer of Target. Guy Adami was a buyer of Newmont Mining. Trader disclosure: Tim Seymour is long AMZN, AAPL, ACBFF, AMZA, ACB, APC, APH,
Garmin on Wednesday forecast full-year revenue and profit above expectations after reporting strong fourth-quarter results on the back of higher demand for its smartwatches and navigation systems. Shares of the company, which has been bouncing back strongly in the past year after a smartphone-driven slide in demand for the car satnavs that made it famous,
However, the forecast CVS gave on Wednesday for the year implies there may be more challenges — and costs — in making the combination work. It also highlights the pressures weighing on CVS’ core businesses. Shares of CVS fell 8 percent Wednesday, their worst day since Nov. 8, 2016, when shares fell nearly 12 percent.
Market focus is largely attuned to global trade developments, after officials from the U.S. and China launched a new round of negotiations on Tuesday. A follow-up session of higher-level talks is expected later in the week, as both sides look to resolve the long-running trade war before a March 1 deadline. Last week, President Donald
“In terms of avoiding such blows, the Trump administration is probably the most pressured,” the Global Times claimed. “Thus in general, by the end of the trade negotiations, China and the US have become more psychologically equal.” Trade tensions escalated last year when the Trump administration applied tariffs on $250 billion of Chinese goods, while
Check out the companies making headlines after the bell: Devon Energy shares surged more than 6 percent after reporting fourth-quarter earnings and plans to separate its Canadian and Barnett Shale assets. The company said these plans aim “to complete the transformation to a high-return U.S. oil growth business.” The oil producer’s adjusted earnings per share
But in not including stores under development, Amazon is removing some level of transparency into how quickly it’s building up new space for physical stores. Whole Foods announced at least 25 new location openings last year, while the number of Go stores increased to 10 across Seattle, Chicago and San Francisco. Amazon also launched three
Freeport-McMoRan has struck gold. The miner’s shares surged on Tuesday in its fifth one-day rally of more than 5 percent since the beginning of the year. Ari Wald, head of technical analysis at Oppenheimer, says he doesn’t see a strong fundamental picture but the technicals support another rally from here. “It doesn’t fit any of
About Trading Nation is a multimedia financial news program that shows investors and traders how to use the news of the day to their advantage. This is where experts from across the financial world – including macro strategists, technical analysts, stock-pickers, and traders who specialize in options, currencies, and fixed income – come together to
So long, New York! Amazon has pulled out of its commitment to build a massive campus and bring 25,000 to 40,000 high-paying jobs to Long Island City in Queens. On Valentines Day! What went wrong? Why the breakup? Some critics were mad that New York offered $3 billion in tax incentives to lure Amazon in
The company was not immediately available for comment when contacted by CNBC, but Dennis Zuo, head of Huawei’s operations in Germany, told the Handelsblatt newspaper on Tuesday that Chinese espionage through its 5G equipment was not possible. “The state does not have a stake in Huawei and it keeps out of our business,” he said.
Drew Angerer | Getty Images Traders and financial professionals work ahead of the opening bell on the floor of the New York Stock Exchange (NYSE), January 14, 2019 in New York City. Small caps’ snapback is flashing an ominous signal. The Russell 2000 has rallied 16.5 percent in 2019, the third best start to a
However, if you have a 401(k) or similar tax-advantaged retirement account through work, many experts recommend putting in at least enough to get the company match, which might be $1 for every $1 you put in (or, say, 50 cents for every $1) up to a certain amount. “If you can put in enough to
Carolyn Cole | Los Angeles Times | Getty Images An aerial view of Paradise, California off of Clark Road on Nov. 15, 2018. The Camp Fire has burned more than 7,000 structures in Paradise. Investors should buy shares of embattled utility PG&E as California lawmakers work to broker a deal with the state’s electric and
David Paul Morris | Bloomberg | Getty Images Omar Ishrak, chief executive officer of Medtronic Inc., speaks during an event at the 2016 Consumer Electronics Show (CES) in Las Vegas, Nevada, on Wednesday, Jan. 6, 2016. Medical device maker Medtronic on Tuesday beat Wall Street estimates for quarterly profit, driven by higher sales in its
You should hold onto marriage certificates, separation or divorce papers, birth certificates, current passports, medical records, insurance policies (for as long as they’re active), wills, Social Security cards, diplomas and transcripts, adoption and custody papers. The same goes for your car title, registration and repair records, mortgage deeds, real estate bills of sale, receipts for
It is at best, an estimate. But it’s an estimate that grew drastically more difficult to make under the new law. The Government Accountability Office estimated in a report last summer that about 30 million workers had too little withheld from their paychecks, which made their take home pay bigger but increased their tax liability.
Walmart on Tuesday reported earnings and revenue for the holiday quarter that topped analysts’ expectations, as its e-commerce sales surged 43 percent thanks to more shoppers using its online grocery delivery service and spending more per trip. CEO Doug McMillon said “a favorable economic environment” has been helping Walmart grow sales and take market share
The FTSE 100 and DAX are both seen little changed from the previous session at 7,218 and 11,299 respectively, while the CAC is expected to open up around 3 points at 5,171, according to IG. Market focus is largely attuned to trade developments between the world’s two largest economies, with a new round of negotiations
Two Chinese firms ranked in the top five corporate venture capital groups last year, in terms of number of companies in which they invested, according to a new report from CB Insights. That was despite the ongoing trade tensions between Washington and Beijing as well as worries over an economic slowdown in China. Corporate venture
Two years ago, Facebook CEO Mark Zuckerberg announced a renewed focus on communities and its Groups feature, boasting that it would help create a more “meaningful” social infrastructure. It worked. Last month, Zuckerberg told investors that “hundreds of millions” of users reported belonging in “meaningful groups,” up from one million in 2017, when the company
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