As the stock market resumed its march higher on Monday, CNBC’s Jim Cramer pinpointed the main drivers fueling the monstrous rally. “First, let’s understand: this market is largely driven not by stock-pickers, but by index funds,” the “Mad Money” host said. “That index fund money comes in automatically, every day, over the transom. Billions of
President Donald Trump will likely get a polite reception from farmers and agribusiness leaders when he addresses the American Farm Bureau Federation’s convention Monday in Nashville, but there’s still challenges and uncertainties facing the industry whether on trade, labor or the farm bill. Farmers want assurances that trade disputes such as NAFTA won’t close markets
The U.S. government continues to crack down on wacky trading activity in shares of companies involved in cryptocurrency. The Securities and Exchange Commission has halted trading in shares of UBI Blockchain Internet, a Hong Kong-based company, citing potentially inaccurate information in its disclosures to the regulator and unusual and unexplained market activity in the stock
“One of the goals is to prevent terrorists from boarding commercial aircraft,” Yonkers said. All states are currently in the process of implementing Real ID programs. Twenty-eight states and territories are already fully compliant and 26 have been granted extensions through Oct. 10, 2018. Just two territories, American Samoa and Northern Mariana Islands, are still
Visa is just the latest in a host of companies, including Boeing, AT&T, Fifth Third Bancorp and Wells Fargo, to share proceeds from the GOP corporate tax cut with employees. In all, there was $5.3 trillion in 401(k) plans as of Sept. 30, 2017, according to the Investment Company Institute. The median balance in a
Frederic J. Brown | AFP | Getty Images Gaming fans play ‘Star Wars Battlefront II’ from EA Sports at the Los Angeles Convention Center on day one of E3 2017, the three day Electronic Entertainment Expo, one of the biggest events in the gaming industry calendar, on June 13, 2017 in Los Angeles, California. Electronic
David Paul Morris | Bloomberg | Getty Images Nick Woodman, founder and chief executive officer of GoPro Inc., speaks during an event in San Francisco, California, U.S., on Thursday, Sept. 28, 2017. GoPro lowered guidance Monday and confirmed that it will lay off of at least 250 employees. The company also said it was leaving
Lululemon Athletica said on Monday it had a strong holiday shopping season and raised its profit and revenue forecasts for the fourth quarter. The holiday quarter is critical for retailers and can account for up to 40 percent of their annual revenue. “We are thrilled with our performance this holiday season that reflects an accelerating
Sam Edwards/Caiaimage | Getty Images A dose of healthy fear is good for investors, even during bull markets. The year 2017 was a good year to be an investor. The Dow Jones Industrial Average just passed through the 24,000 level for the first time ever. The S&P 500, a broader measure of the market, finished
Kohl’s on Monday reported same-store sales during the November and December months climbed nearly 7 percent when compared with the same period in 2016. Recent initiatives including partnering with Amazon and bringing in more items from popular athletic apparel brands Under Armour, Nike and Adidas are paying off for Kohl’s, which said more people have
U.S. bank executives and investors expect a long-term boost from the new federal tax code, but the biggest lenders will first need to book multi-billion-dollar charges that will muddle fourth-quarter results. Banks will adjust deferred tax assets and liabilities to account for a lower corporate rate, and also take charges related to other tax changes.
Big banks might not be jumping on the bitcoin bandwagon just yet, but other institutional investors are likely to warm up to cryptocurrencies this year. “I think there is caution, but it depends on which sort of institutions you’re talking about,” Michael Casey, senior advisor at the Digital Currency Initiative at MIT Media Lab, told
Beijing’s push to transition its economy has led to the country moving on from simply being known as the world’s factory, according to a top executive at Swiss bank UBS. “A lot of things are being created now in China, rather than [it just] being a manufacturing hub,” Kathryn Shih, president of UBS Asia Pacific,
The military is requiring mandatory financial education training on bases and online. More than 80 percent of those who must make a decision have taken the class, according to Pentagon officials. Yet some financial advisors worry one course may not be enough. A recent USAA survey of enlisted members found 41 percent admit to living
The one winning Powerball ticket that was sold in New Hampshire is good for a $570 million jackpot, capping a weekend lottery jackpot haul of more than $1 billion. The winning numbers for Saturday’s drawing were 12, 29, 30, 33 and 61, plus Powerball 26. The $570 million Powerball ranks as the fifth largest in
With retailers reporting strong holiday sales, and some consumers saying they turned to plastic to fund those purchases, it looks like 2018 will be the year that credit card debt crosses $1 trillion. “The scary number — $1 trillion — we’ll definitely hit in 2018,” said Jill Gonzalez, an analyst with WalletHub. “It seems to
The Federal Reserve should raise interest rates three times this year given the already strong economy will get a boost from tax cuts, and can tighten more or less aggressively if needed, a key U.S. rate-setter said on Saturday. In an interview, San Francisco Fed President John Williams painted a benign picture of the world’s
It’s been a billion-dollar lottery weekend after a lone Powerball ticket sold in New Hampshire matched all six numbers and will claim a $570 million jackpot, one day after another single ticket sold in Florida nabbed a $450 million Mega Millions grand prize. The winning Powerball numbers drawn Saturday night were 12-29-30-33-61 and Powerball 26.
Assoulin opened a New York City showroom in 2017 but intentionally keeps the inventory limited and the price point reasonable (she declined to discuss specific sales numbers). “It’s accessible rather than aspirational,” she said. “If you have $75, you can buy a bracelet.” There are now brightly colored earrings and necklaces as well, all in
One lucky winner in Florida is poised to take home the $450 million Mega Millions jackpot. The winning numbers for Friday’s drawing were 28, 30, 39, 59 and 70, plus Mega Ball 10. The $450 million jackpot ranks as the fourth largest in the game’s history, and the second largest awarded to a single ticket.
It’s not every day you become a multimillionaire. But for one lucky winner in Florida, Friday’s Mega Millions drawing just made that unlikely event a reality. The $450 million jackpot ranks as the fourth largest in the game’s history, and the second largest awarded to a single ticket. Of course, that’s before taxes. And choices
Pope Francis advised against making the pursuit of money, a career or success the basis for one’s whole life, urging people in his Epiphany remarks Saturday to also resist “the inclinations toward arrogance, the thirst for power and for riches.” Francis said during a homily at Mass in St. Peter’s Basilica that people “often make
One Mega Millions ticket matched all six numbers and will claim a $450 million grand prize. The winning numbers drawn Friday night to claim the nation’s 10th largest jackpot were 28-30-39-59-70-10. It was not immediately known where the winning ticket was sold. Lottery officials also increased the jackpot of Powerball, the other national lottery game,
Despite more food-safety inspections and other initiatives over the past decade, the fresh produce industry is dealing with what may be its worst E. coli outbreak linked to leafy greens since 2006. There’s also been a sense of frustration for some in the food industry that more information hasn’t been provided by the U.S. government.
Digital currency ripple has blown past its cryptocurrency rivals largely because it is working with large institutions, which give it an aura of legitimacy and practicality. However, cryptocurrency enthusiasts say that centralization is the exact opposite of what the technology of the digital currencies should be about. “The reason ripple is surging so much is
It used to be common sense that investors couldn’t simply realize that it’s cold outside, buy shares in a “cold weather play” like Canada Goose and make money, CNBC’s Jim Cramer said on Friday. But in this market, Cramer has watched common-sense investing come back into the fold as a winning strategy. “Now, I’m not
Bristol-Myers Squibb will record a $3 billion charge in the fourth quarter of 2017 as a result of the U.S. tax reform law passed last month, the drugmaker said in a regulatory filing on Friday. The expense is primarily related to taxes on unremitted offshore earnings, the company said. Bristol said the charge will affect
CES: Formerly known as the Consumer Electronics Show, CES 2018 will dominate Monday’s headlines. The stock-moving technology event will feature high-profile speakers like Nvidia CEO Jensen Huang, who will address the conference on Sunday night. “If you only read one thing about tech this year, you need to get a transcript of this speech,” Cramer
In wake of Attorney General Jeff Sessions‘ repeal of Obama era guidance on legal marijuana, Denver Mayor Michael Hancock is more worried about the marijuana business than he is about a law enforcement crackdown on weed. “When we see an industry, that is dependent upon investors, people who are putting their hard-earned money into the
Acorda Therapeutics is exploring a sale of the company, the Wall Street Journal reported, citing people familiar with the matter. Shares of the company closed up nearly 12 percent at $23.55 on Friday. The Ardsley, New York-based company, which has a market value of about $980 million, may not move forward with any formal action