Katz, however, wouldn’t buy on news like this. “You want to buy when you have a sell-off because we do think the market’s in a trading range and you want to buy weakness rather than chase strength.” Jamie Cox, managing partner at Harris Financial Group, warned investors to be careful about these particular headlines because
Several of China’s largest companies are acknowledging that they’re concerned about risks from a trade war with the U.S. In the face of tariffs on the bulk of exports to its largest trading partner, Beijing has maintained a resolute position that it will respond with countermeasures. But some local corporations, many owned or influenced by
Andrew Harrer | Bloomberg | Getty Images Pedestrians walk past a Sprint store in Washington, D.C. Check out the companies making headlines after the bell: Sprint stock dipped as much as 1.8 percent in after-hours trading after the Federal Communications Commission released a letter pausing the transaction clock for the proposed merger of Sprint and
Earlier in the day, Dalio told CNBC that the current economic cycle is in the seventh inning and predicted it has about two years left to run. The co-chairman and co-chief investment officer of Bridgewater Associates warned that investors should be “more defensive” in the stock market and “as time progresses” he sees the risks
This week is the 10th anniversary of the inflection point of the financial crisis: the collapse of Lehman Brothers, the biggest bankruptcy in history. To some, it feels like a long time ago. Yet, its effects still echo in the way we live today — in the attitudes that pervade our economy, our culture and
When the banks began to fail in 2008, executives turned to Warren Buffett in a plea for last-minute funding. He later called the events that followed an “economic Pearl Harbor.” Watch the video above for an in-depth discussion between CNBC’s Andrew Ross Sorkin and the Oracle of Omaha as he reflects on the week that
Public companies are governed differently. And boards of directors, half of whose members must be independent, take their legally established responsibilities seriously. For example, their fiduciary responsibility requires directors to act in the best interests of the corporation. Their supervisory role involves oversight of the CEO and other officers. And their duty of care obligates
Yu Chun Christopher Wong | S3studio | Getty Images A visual representation of the digital Cryptocurrency, Bitcoin, is seen on September 04 2018 in Hong Kong, Hong Kong. The U.S. securities watchdog has halted trading in two cryptocurrency-related products because of confusion over the nature of the financial products. The securities, Bitcoin Tracker One and Ether
Blackstone is predicting a market surge that could take out its S&P 500 year-end target earlier than expected. According to the firm’s investment strategist Joseph Zidle on CNBC’s “Futures Now,” there’s a high probability the index will break through 3000 within the next couple of months. “What we have left for the rest of the
Tesla‘s now former chief accounting officer, Dave Morton, quit the company after concluding CEO Elon Musk wasn’t interested in accounting details around a potential take-private transaction, according to people familiar with the matter. Morton resigned Sept. 4, according to a company filing released on Friday. Morton said in the filing “the level of public attention
Our national debt keeps growing each day, currently near the $21 trillion mark with no end in sight. The more we wait, the more difficult reducing the debt will be. From George Washington to Bill Clinton, the national debt rose to $5.6 trillion. Under eight years of George W. Bush, the debt increased to $10.6
Tesla shares are extremely overvalued and will drop precipitously, Robert Chapman said Friday. Chapman downplayed concerns over CEO Elon Musk‘s erratic behavior, instead focusing on the carmaker’s financials for his bearish view. “I actually don’t think you should short it on [Musk’s] judgment. I think he is a fascinating businessman, probably the most incredible entrepreneur
FilmMagic | HBO | Getty Images Elon Musk speaks on stage during the Westworld Featured Session during SXSW at Austin Convention Center on March 10, 2018 in Austin, Texas. Short sellers betting against Tesla made more than half a billion off the stock’s slide on Friday. After a bizarre video showing CEO Elon Musk smoking
White House economic advisor Larry Kudlow is extremely optimistic about the U.S. economy. “The economic boom continues,” he said on CNBC’s “Squawk on the Street” Friday, citing the August jobs report and the month’s wage gain data. “It’s the big story of 2018. Jobs, growth, wages. It doesn’t get much better than that.” The August
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Constellation Brands David Seaburg was a buyer of Pfizer Dan Nathan was a seller of Taiwan Semiconductor Guy Adami was a buyer of CBS Corp Trader disclosure: On September 6, 2018 the following stocks and commodities mentioned
Kai Pfaffenbach | Reuters A booth of Micron Technology at an industrial fair in Frankfurt, Germany. The dip in Micron’s stock is a great buying opportunity, according to Bank of America Merrill Lynch. The firm reiterated its buy rating for Micron shares, predicting strong financial results for the memory chipmaker. Micron shares declined 9.9 percent
Krisztian Bocsi | Bloomberg | Getty Images The Deutsche Bank AG logo sits on an office building in Frankfurt, Germany. HNA Group, one of China’s largest conglomerates and the owner of a $40 billion-plus empire of businesses and company stakes, will be exiting its 7.6 percent stake in Germany’s Deutsche Bank, the Wall Street Journal
The Menlo Park, California-based start-up is known for its zero-fee trading platform that rolled out about three years ago. Robinhood, which is mostly used by millennials age 18-35, also offers ETFs, options and, as of February, cryptocurrency trading. In May, it surpassed its rival E-Trade Financial and has a total of 5 million brokerage accounts.
Ether was the star cryptocurrency last year, way outperforming its predecessor bitcoin. But 2018 has been a different story. The world’s second largest digital asset is down 76 percent this year and can’t seem to catch a break. Investor patience is wearing thin — mainstream adoption isn’t here yet, folks can now short the market,
Yu Chun Christopher Wong | S3studio | Getty Images A visual representation of the digital Cryptocurrency, Bitcoin, is seen on September 04 2018 in Hong Kong, Hong Kong. Bitcoin prices continued to get slammed early Thursday, following a report that Goldman Sachs was dropping its plans for opening a trading desk for cryptocurrencies. The world’s largest
Check out the companies making headlines after the bell: DocuSign shares dipped more than 3 percent in the extended session despite a better-than-expected quarterly earnings report. The stock later pared much of those losses. The San Francisco-based company reported earnings of 3 cents per share, higher than the 1 cent per share expected by analysts.
Pressure from a key technical indicator could be why Netflix shares are falling, according to a chart analyst. Netflix shares are down 4.9 percent Wednesday. Bespoke Investment Group told its clients Netflix’s inability to stay over an important moving average may have contributed to its sharp decline. “The FAANG trade is getting hit hard today,
Check out the companies making headlines after the bell: RH shares dropped more than 4 percent after initially rising 6.5 percent during after-hours trading following the release of its second-quarter results. RH missed revenues estimates by $20 million, reporting sales of $641 million versus the $661 million expected by Wall Street. However, it beat earnings
A hot topic in policy debates worldwide, gentrification is defined as the process of rebuilding homes and businesses accompanied by an influx of middle-class or affluent people at the expense of earlier, often poorer residents. One big issue is the lack of consistent data to determine the effects of the trend — positive or negative.
Seagate and Western Digital shares will suffer from declining profit margins, according to Evercore ISI. The firm lowered its rating to underperform from in line for Seagate shares and reduced its rating to in line from outperform for Western Digital’s stock. Both companies sell hard drives and flash memory storage devices. “With topline likely flattish
Chip Somodevilla | Getty Images Mark Zuckerberg testifies before the House Energy and Commerce Committee in the Rayburn House Office Building on Capitol Hill April 11, 2018. Facebook shares will disappoint as governments increasingly scrutinize the company’s practices, according to MoffettNathanson. The firm lowered its rating to neutral from buy for Facebook shares, predicting the
Technology is going to fundamentally transform the banking industry over the coming years, a former Barclays CEO told CNBC on Monday. Antony Jenkins, who led the British bank through a tumultuous period between 2012 and 2015, said regulatory measures imposed in the aftermath of the 2008 financial crisis had made the global financial system safer.
On Aug. 17, Beijing’s Chaoyang District, which includes the central business area, issued a ban on shopping areas, hotels and office buildings hosting promotional events for cryptocurrencies. Chinese news site National Business Daily reported last week that a special economic development zone in the southern city of Guangzhou announced a similar ban. The Chinese government
That amounted to the squaring of the circle for a man who forged a veto-proof parliamentary majority on a platform “Take Back Japan” (“Nippon o Torimodosu”), featuring the economic revival through aggressive monetary easing and an export-boosting cheaper yen, a tough line on territorial disputes with China and South Korea and an unacceptably idiosyncratic reading
Source: J.P. Morgan Asset Management One in three, or 33 percent, forecast gains of 5 to 15 percent. Slightly more, or 38 percent, expect global stock markets to rise by the same amount over the next 12 months, and a total of 67 percent predicted overall gains. The survey covered representatives from onshore fund distributors,