- Oilprice.com•8 hours ago
Is Oil About To Collapse?
There are, as I have noted in the past, reasons to believe that the long-term path of oil is still upward, but more immediately there is one dominant factor that keeps adding downward pressure, large and still growing supply from North American shale producers. The second chart, directly above, indicates why American producers are pumping at a growing rate. There are reasons for that recovery, most notably the production cuts agreed by OPEC countries and others including Russia and improving global growth, but those bullish factors are now fully priced in and the effect of that is to encourage U.S. E&P companies to, to borrow a phrase, drill, baby, drill!
- Puget Sound Business Journal•yesterday
Boeing delivers widebodies to Middle Eastern airlines and wins a 747 order
Boeing delivered two widebody jets to Middle Eastern airlines and won a 747 order this week, generating some cash for the fourth quarter. Chicago-based Boeing (NYSE: BA) delivered a 787-9 Dreamliner to Oman Air and a 777 freighter to Turkish Airlines. Boeing capped off the week by snaring a new order for the $387 million double-decker 747 from an unidentified buyer, according to its orders and deliveries website. The new jumbo jet order means more work for the Everett 747 manufacturing line, which Boeing said last year it might shut down. Airlines pay most of a new jet's price when they receive the aircraft, but also pay deposits when ordering. "The delivery of our first 777 freighter is a milestone
Associated Press•22 minutes agoThe Latest: Bitcoin futures soar in first hours of trading
Bitcoin futures have advanced further in overnight trading. At 1:30 a.m. central time (0730 GMT) the futures contract that expires in January was trading at $18,590. It opened at 5 p.m. CST at $15,000, according to CBOE Global Markets.
- Bloomberg Video•6 hours ago
Bitcoin Futures Start Trading on CBOE
Dec.10 -- Bitcoin reaches another milestone. Futures start trading on the CBOE. Bloomberg's Adam Haigh reports on "Bloomberg Daybreak: Asia."
- MarketWatch•6 hours ago
Why a Roth IRA conversion might be even smarter next year if the tax bill passes
For years, I’ve lectured chapter and verse about the wonderfulness of Roth IRAs, and they may soon be more wonderful than ever. The quickest way to get a relatively large sum into a Roth IRA so you can start taking advantage of the wonderfulness is to convert a traditional IRA with a hefty account balance into a Roth account. Here’s the updated scoop on the conversion strategy, taking into account the possibility of tax reform. Roth conversion basics A Roth conversion is treated as a taxable distribution from your traditional IRA, because you’re deemed to receive a payout from the traditional account with the money then going into the new Roth account. So doing a conversion this year will trigger
- MarketWatch•6 hours ago
18 small-cap stocks that analysts expect to rise at least 50% in 2018
(This is the third in a three-part series on analysts’ favorite stocks for 2018. The series began with large-cap stocks and continued with mid-cap stocks.) A year ago we listed analysts’ favorite small-cap stocks for 2017. The results are mixed. But for next year, Wall Street is even more enthusiastic about smaller companies than they were during the initial euphoria following President Trump’s election. When we pulled the list of analysts’ favorite small-cap stocks for 2017, we started with the S&P 600 Small-Cap Index SML, -0.05% and identified 24 companies with majority “buy” ratings among at least three analysts. They also had consensus price targets that showed the stocks were expected to
- MarketWatch•14 hours ago
Republican tax bill makes big winners of Amgen, Gilead and other drugmakers
The prospect of tax reform has had drugmakers and Wall Street salivating for months. Repatriation of cash held outside the U.S. could be the most important part of the Republican tax bill for the sector, according to a recent Credit Suisse report, which found that American biopharma companies make up one-third of the top 30 U.S. companies with the most offshore cash. The final version of the tax bill, which could be passed by the end of the year, is expected to reduce the tax rate for repatriated offshore cash from 35% to 10% or 14% — a major tax break that could make a slew of dealmaking and share buybacks possible. The biggest potential winners are drugmakers Amgen Inc. AMGN, +0.83% ($39 billion
- Bloomberg•11 hours ago
Bitcoin Options Are What We Need to Tame This Beast
The seminal financial event of this year, the current decade, and possibly our generation is here: Futures trading in bitcoin has begun. But the derivative that would really damp the current crypto frenzy and make digital tokens a speculator-friendly -- if not investment-worthy -- commodity, currency, tulip, or whatever, isn't futures. It's options. Options could supplement futures contracts in damping irrational exuberance for bitcoin It's hard to see how even existing futures trading rules can deal with something as volatile as bitcoin. Cboe Global Markets Inc. began offering them on Sunday, and soon they'll be available on CME Group Inc. Brokers including E*Trade Financial Corp., TD Ameritrade
- TheStreet.com•2 days ago
A Bullish General Electric Holiday Trade -- That's Right, Bullish
Add in the $4 billion in dividend cuts and these start becoming real numbers. GE does need these cuts, though, if it hopes to maintain the reduced dividend, as 85% of its free-cash-flow is still paid out to shareholders. Speaking of dividends, GE is set to pay out $0.12 this month, so this one sets up well for a buy-write (covered call) trade into the New Year.
- MarketWatch•14 hours ago
UnitedHealth is stepping past CVS Health with its latest deal
UnitedHealth Group Inc.’s nearly $5 billion acquisition of physician group operator DaVita Medical Group, announced Wednesday, pales in comparison with CVS Health Corp.’s roughly $69 billion acquisition of health insurer Aetna Inc. earlier this week. But while CVS Health CVS, +2.81% is aiming to emulate UnitedHealth UNH, +1.71% by folding in health insurance with its pharmacy-benefit manager business, UnitedHealth’s acquisition shows it is one step ahead, according to Mizuho analyst Sheryl Skolnick. “So while others may look to build what UNH/Optum had, Optum moves the bar yet again, establishing itself as the leading physician platform for the transformed health care sector of the future,”
Reuters•1 hour agoHotly anticipated bitcoin futures surge 21 percent on debut
By Saqib Iqbal Ahmed and Swati Pandey NEW YORK/SYDNEY (Reuters) - Bitcoin futures jumped more than 20 percent in their eagerly anticipated U.S. debut, which backers hope will encourage wider use and legitimacy for the world's largest cryptocurrency even as critics warn of the risk of a bubble and price collapse. The launch on Sunday night may have caused an early outage of the Chicago-based CBOE Global Markets' website. The exchange said that due to heavy traffic on the CBOE Global Markets website, the site "may be temporarily unavailable." The one-month bitcoin contract opened trade at 6 pm (6.00 p.m. ET) at $15,460, dipped briefly and then rose to a high of $18,700.
- MarketWatch•14 hours ago
Broadcom shares finish flat after strong quarter, analyst price hikes soothe Apple concerns
Broadcom Ltd. shares finished Thursday exactly where they closed on Wednesday, after an initial jump — prompted by a majority of analysts hiking price targets — fizzled out a day after the chipmaker’s strong earnings and outlook softened concerns that iPhone production snags would hamper sales growth of wireless components. Late Wednesday, Broadcom AVGO, -1.51% topped Wall Street estimates for the quarter and issued a revenue outlook well above the consensus. The company also said it was raising its “interim” quarterly dividend by 72% to $1.75 a share. Broadcom shares, which traded up as much as 4.5% earlier in the trading session, closed at $263.89 on Thursday, their same closing price on Wednesday
- CNBC•18 hours ago
Deutsche Bank warns a 'bitcoin crash’ is among the market's most significant 2018 risks
The bitcoin (Exchange: BTC=) craze could pose a real risk to the broader market next year, Deutsche Bank warned last week, ahead of the cryptocurrency's launch on futures exchanges, scheduled to take place Sunday. Bitcoin has emerged as a financial phenomenon this year as the digital currency sees $1,000-plus swings within hours. At this juncture, as the cryptocurrency has advanced quadruple digits this year, Slok said the markets have not correctly priced in the broader impact bitcoin could potentially have.
Business Insider•2 hours agoTHE INSURTECH REPORT: How financial technology firms are helping — and disrupting — the nearly $5 trillion insurance industry
The global insurance industry is worth nearly $5 trillion, and insurance companies are at risk of losing a share of this valuable market to new entrants. Some are helping incumbents deliver better end products, while others are directly competing with legacy players.
Reuters•1 hour agoGlobal Markets: Bitcoin futures rocket past $18,000; Asian shares buoyant
The craze for cryptocurrencies entered a new chapter on Monday as bitcoin futures rocketed by one-fifth of their value at a hotly anticipated launch, while Asian shares climbed amid optimism about global growth. The most-traded contract on the Chicago-based CBOE Global Markets exchange opened at $15,460 in New York on Sunday evening, before leaping to a high of $18,700 - a gain of 21 percent. The futures are cash-settled contracts based on the auction price of bitcoin in U.S. dollars on the Gemini Exchange, which is owned and operated by virtual currency entrepreneurs Cameron and Tyler Winklevoss.
- CNBC Videos•8 hours ago
The premium segment in China is key for this instant nood...
Kiyotaka Ando CEO at Nissin Foods says the firm plans to focus on the premium products in China.
- CNBC.com•5 hours ago
Tell us what you think: How will the launch of bitcoin futures affect the cryptocurrency?
Bitcoin prices rose after futures of the cryptocurrency began trade on the Cboe Futures Exchange for the first time on Sunday evening U.S. time. The futures, which trade under the 'XBT' ticker, briefly turned negative, but quickly reversed those losses to trade at $16,860 at 9:05 p.m. New York time. That was some 9.06 percent above the opening price of $15,460 for the January contract. Among the benefits bitcoin futures will bring about to traders are improved transparency, price discovery and liquidity, according to the Cboe. Following the Cboe's launch, CME Group is set to start trading bitcoin futures one week later on Dec. 18, while Reuters has reported that the Nasdaq plans on launching
- Business Insider•20 hours ago
Bitcoin futures are about to go live, and they could change the game for cryptocurrencies
Cboe Global Markets, the Chicago-based exchange group, will be the first exchange to launch bitcoin futures on Sunday. CME Group, Cboe's cross-town rival, will launch its market later in December. The new product by Cboe will allow investors to bet on the future price of bitcoin, which skyrocketed to an all-time high above $17,000 on Thursday, according to data from Markets Insider.
- Yahoo Finance•15 hours ago
Bitcoin futures: Everything you need to know
Despite the (well-founded) protests of JPMorgan, Citigroup and other Wall Street brokers, bitcoin futures are set to go live Sunday evening at 6:00 p.m. EST on the Cboe Futures Exchange (CFE). Next Sunday, December 17, the CME Group (CME) is expected to launch its own bitcoin futures. Currently, bitcoins are mainly traded on one of the many “cash” exchanges that exist around the world — even the largest of which has been subject to outages. Though bitcoin derivatives already exist (LedgerX just launched in October), bitcoin futures are expected to eventually bring the liquidity and stability demanded by large institutional traders and small retail traders alike. What happens to the price of bitcoin once bitcoin futures begin trading?
- Bloomberg•8 hours ago
Bitcoin Futures Trading Opening Brings Crypto to Wall Street
Bitcoin has landed on Wall Street, and it was welcomed by traders. Cboe Global Markets Inc. started letting people buy and sell bitcoin futures Sunday evening. Though the exchange operator warned volume might be low -- new futures typically take time to build a following -- almost 600 contracts traded in the first hour. Though transactions were smooth, the start wasn’t without some drama: Cboe’s website stalled during the launch. The company said its trading systems were fine, though. As of 8:11 p.m. New York time, contracts expiring in January were priced at $16,300, or about 4.5 percent higher than bitcoin itself, according to data compiled by Bloomberg. The cryptocurrency spiked by more than
- TheStreet.com•17 hours ago
Deciphering Wall Street's Differing Views of Amgen
Wall Street research is a confusing animal. The same stock often carries very different opinions, from various sources at exactly the same moment. That is why there are always buyers and sellers at the very same price, creating a "market price." How
- Associated Press•4 hours ago
Bitcoin futures rise as virtual currency hits major exchange
The first-ever bitcoin future jumped after it began trading Sunday as the increasingly popular virtual currency made its debut on a major U.S. exchange. The futures contract that expires in January surged more than $3,000 to $18,010 four hours after trading launched on the Chicago Board Options Exchange. The CBOE futures don't involve actual bitcoin.
Reuters•55 minutes agoOil dips on increased US drilling activity, uncertainty over OPEC cuts
Oil prices fell on Monday as last week's rise in the U.S. rig count pointed to a further increase in American production that could undermine OPEC-led efforts to tighten markets. A statement by Kuwait's oil minister that OPEC and other oil producers will study before June next year the possibility of exiting their global oil supply-cut agreement also weighed on prices, traders said. U.S. West Texas Intermediate (WTI) crude futures were at $57.25 a barrel at 0629 GMT, down 11 cents, or 0.2 percent, from their last settlement.
- MarketWatch•14 hours ago
GE’s stock falls toward Fibonacci support level as charts suggest worst may be over
There may be a “golden” lining to the recent historic tumble in General Electric Co.’s stock, as it has approached an important long-term chart level at a time when the near-term technical outlook suggests the worst may be over. The stock GE, +0.00% hovered around six-year lows, as it suffered a ninth straight monthly loss in November. That’s the longest such streak in over 45 years, based on available data on FactSet and Yahoo Finance going back to 1972. The company did not provide additional data. The selloff accelerated over the last couple months, tumbling 17% in October, the biggest one-month selloff since the depths of the Great Recession, and 9.3% in November, as new Chief Executive John
- Reuters•16 hours ago
After bitcoin’s wild week, traders brace for futures launch
By Saqib Iqbal Ahmed NEW YORK (Reuters) - The newest way to bet on bitcoin will arrive on Sunday, when futures of the cryptocurrency that has taken Wall Street by a storm begin trading. The first bitcoin future trades are set to kick off at 6 p.m. EST (2300 GMT) on CBOE Global Markets Inc's CBOE Futures Exchange. This has given an extra kick to the cryptocurrency's scorching run this year.
