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There has been much discussion over the last several years about the existence of “two Americas.” The politics of recent days notwithstanding, there are more likely three. Main Street, Wall Street and Washington are becoming ever more separated, operating, in many ways, entirely independently of one another. It’s most evident on Wall Street. Despite political
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The stock market’s seemingly unstoppable rally is drawing notice from Federal Reserve officials. At their meeting in July, central bank officials discussed whether the rise in equity prices was posing broader financial dangers – and whether the Fed’s accommodative policies were adding to the risk-taking environment. However, they ultimately concluded that the market rise was
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Billionaire hedge fund manager Bill Ackman revealed he bought protection against a stock market drop due to rising geopolitical risk. Ackman said the firm took a “small position” in out of the money call options on a volatility index during Pershing Square Capital Management’s second-quarter conference call Wednesday. This hedge “will protect against stock market
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Raising a baby doesn’t come cheap — and once you add in expenses like doctor appointments and day care, the costs of child-rearing may be more manageable in certain states than others. New data from WalletHub found that some states have better financial conditions for bringing up baby. The personal finance site ranked U.S. states
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Conversely, some states have low costs but their quality is lacking. For example, Alabama has the least-expensive care but ranks 44th for quality. Additionally, the Northeast showed generally higher costs and lower quality scores in the report. The study used various statistics including nursing home costs, in-home care prices and elderly well-being assessments to arrive
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It’s not just missing income. IRS records show that self-employed workers and others who file quarterly estimated-tax payments are prone to get those wrong, according to a report last week from The Wall Street Journal. The number of filers penalized for underpaying estimated taxes jumped from 7.2 million in 2010 to 10 million in 2015,
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Target reported earnings, revenue and same-stores sales on Wednesday that topped analysts’ expectations for the second quarter, fueled by a jump in online transactions. With more shoppers returning to its brick-and-mortar stores and ringing up purchases on Target.com, the discount retailer raised its outlook for 2017, as signs appeared that its turnaround efforts are making
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Shares of Urban Outfitters soared Wednesday after the retailer reported earnings and revenue that topped expectations. In premarket trading, the retailer’s shares surged more than 20 percent. Here’s what Wall Street was expecting: Earnings per share: 44 cents per share, vs. 37 cents expected, according to a survey of analysts by Thomson Reuters. Revenue: $873
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And it’s not just customers or employees they’re sending a message. Steph Curry, star guard for the NBA champion Golden State Warriors and the highest-profile athlete on Under Armour’s roster, tweeted a series of applause emojis after Plank’s announcement. In February, Curry issued a sharp rebuke when Plank talked up the president’s business bona fides
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Finally, Cramer went over Home Depot’s post-earnings conference call, during which executives fielded analyst questions that painted the retailer as one of Amazon’s more vulnerable rivals. After delivering itsbest quarterly report ever, Home Depot’s stock was eviscerated from that conference call, which Cramer said left him outraged and disheartened. “The incredible thing is that even
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Spencer Platt | Getty Images News | Getty Images Traders work on the floor of the New York Stock Exchange (NYSE) on January 6, 2016 in New York City. Check out which companies are making headlines after the bell: Shares of Agilent Technologies shot up more than 4 percent in extended trading after reporting its
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Member of Manufacturing Jobs Initiative. Status: Resigned June 1. Musk resigned from the council following Trump’s announcement he would be withdrawing the United States from the Paris climate accord. Musk wrote in a tweet, “Am departing presidential councils. Climate change is real. Leaving Paris is not good for America or the world. Bill Brown and
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Warren Buffett’s Berkshire Hathaway invested more money in financial stocks. Berkshire Hathaway reported a 17.5 million share stake in Synchrony Financial in its June quarter 13F filing revealed Monday. The position is worth nearly $520 million using Monday’s closing stock price. Synchrony shares rose over 4 percent midday Tuesday after the news. Synchrony is the
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TJX Cos., the owner of off-price retail chains T.J. Maxx and Marshalls, reported better-than-expected quarterly profit and sales on Tuesday as its discounts attracted shoppers turning away from department stores and mall-based retailers. TJX sells home furnishings, apparel and accessories of brands such as Tommy Hilfiger and Marc Jacobs at prices 20 percent to 60
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As they approach retirement age, older Americans are becoming steadily more pessimistic about their economic prospects. Where they choose to spend their golden years could make all the difference. A little more than half of working-age households are at risk of being unable to maintain their current standard of living in retirement, according to the
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EPS: 50 cents versus 49 cents expected, according to Thomson Reuters. Revenue: $1.13 billion versus $1.51 billion expected, according to Thomson Reuters. North American comparable store sales: up 4 percent versus 3.6 percent expected, according to StreetAccount. Net income rose to $152 million, or 53 cents per share, from $82 million, or 29 cents per
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Home Depot on Tuesday reported its highest quarterly revenue in the company’s history, with same-store sales also blowing past Wall Street expectations. While many retailers are struggling to grow sales, Home Depot is riding the home improvement trend as shoppers continue to invest in their homes. Lumber, flooring and electric grills were some of its
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