- S&P Futures2,652.75+0.07%
- Dow Futures24,359.00+0.17%
- Nasdaq Futures6,345.75+0.09%
- Russell 20001,521.72+0.08%
- Crude Oil57.46+0.17%
- Gold1,249.10+0.31%
- Silver15.78-0.24%
- EUR/USD1.18+0.12%
- 10-Yr Bond2.37-0.38%
- Vix9.89-2.66%
- GBP/USD1.34-0.16%
- USD/JPY113.40+0.01%
- BTC-USD16,426.54+9.08%
- FTSE 1007,444.56+0.68%
- Nikkei 22522,938.73+0.56%
- Oilprice.com•14 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
Reuters•2 hours agoOil prices under pressure from rise in U.S. drilling rigs
Oil prices edged lower on Monday as rising U.S. drilling activity pointed to a further increase in American production, countering OPEC-led output cuts. Brent crude futures, the international benchmark for oil prices, were 10 cents lower at $63.30 a barrel by 1115 GMT. U.S. West Texas Intermediate (WTI) crude futures were at $57.10 a barrel, down 26 cents from their last settlement.
Yahoo Finance•3 hours agoMorning Brief: Bitcoin futures launch, prices soar
The January futures contract, which is a bet on where bitcoin will trade one month from now, was last trading at around $18,000. According to Yahoo Finance data, the current spot price of bitcoin is $16,630. Last week, bitcoin prices dominated headlines after a sharp run higher, culminating in Wednesday’s wild day of trading that saw the price of the digital currency rise, then fall, $3,000 in just hours. Tax reform will also continue to be a background focus for markets, as the House and Senate continue to work towards a unified tax plan that can pass in both chambers of Congress, though market moves over the last couple weeks have broadly indicated that the passage, or failure to pass, tax reform isn’t likely to be a major market catalyst in the coming weeks. This would also mark the fifth rate hike since the financial crisis and the fifth — and likely final rate hike — of outgoing Fed Chair Janet Yellen’s tenure.
- CNBC.com•11 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
- Bloomberg Video•12 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•12 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
Reuters•2 hours agoBitcoin futures steal spotlight, momentum keeps pushing stocks up
World stocks climbed and equity volatility neared a record low on Monday as investors focused on strong economic growth signs ahead of a slew of interest rate decisions, while the launch of bitcoin futures fed the market's cryptocurrency obsession. Stealing the spotlight was the debut of bitcoin futures contracts, allowing investors to bet on the price of the cryptocurrency in one, two or three months. It was last quoted at $17,500, having earlier traded as high as $18,850, while bitcoin itself hovered at $16,415.36.
- MarketWatch•12 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
Associated Press•4 hours agoThe Latest: Bitcoin futures soar then settle after debut
At 3:40 a.m. central time (0940 GMT) on Monday, the futures contract that expires in January was trading at $17,600. It opened at 5 p.m. CST at $15,000 and climbed as high as $18,700 in its first day of trading, according to CBOE Global Markets. The price of a bitcoin was $16,571.03 as of 3:40 a.m. (0940 GMT), according to the bitcoin exchange Coindesk.
- MarketWatch•1 hour 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
- MarketWatch•20 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,”
- Bloomberg•17 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
Reuters•2 hours agoHotly anticipated bitcoin futures ease off after 22 percent surge
NEW YORK/SYDNEY/LONDON (Reuters) - Bitcoin futures eased back from an initial surge of almost 22 percent to trade up 13 percent on Monday, in an eagerly awaited U.S. market debut that backers hope will confer greater legitimacy on the volatile cryptocurrency and lead to its wider use. Although bitcoin futures were already offered on some unregulated cryptocurrency exchanges outside the United States, the Chicago-based Cboe Global Markets' (CBOE.O) launch marked the first time investors could get exposure to the market via a mainstream regulated exchange. The exchange said that due to heavy traffic, the site "may be temporarily unavailable".
- CNBC•yesterday
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.
- MarketWatch•2 hours ago
Share buybacks spike — dropping a strong hint at what CEOs plan to do with tax savings
Long-term investors and workers hoping that the tax overhaul and repatriation holiday will encourage investment in growth and a rise in wages should brace for disappointment. A spike in share buyback and special dividend announcements this week reveals that companies are more likely to use any money saved on an all-too-familiar item: shareholder returns. Bank of America Corp. BAC, +0.94% Home Depot Inc. HD, +0.77% Johnson Controls International Inc. JCI, +0.13% T-Mobile US Inc. TMUS, +1.00% Ciena Corp. CIEN, +0.82% and even Madison Square Garden Co. MSG, +0.40% are among the companies to unveil new buyback authorizations this week, rushing in even before a final tax bill has been formulated.
Business Insider•8 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.
- CNBC Videos•8 hours ago
Investors realizing QE is starting to play out as major g...
Valentin Marinov, managing director and head of G-10 FX research at Credit Agricole, speaks about how central bank policy is impacting major currencies.
- TheStreet.com•23 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
- Business Insider•15 hours ago
Bitcoin futures market send bitcoin up $1,100
Bitcoin futures went live on Cboe Global Markets, the Chicago-exchange group, Sunday night. Both futures and spot bitcoin were trading up Monday morning. Liquidity on the market was thin soon after the launch of the new market and Cboe's website crashed.
Business Insider•yesterdayThere's a very simple thing most people get wrong about taxes
The US has a number of federal tax brackets based on income ranges. In the midst of the political maneuvering, we've calculated how President Donald Trump's tax plan could affect you if tax reform is signed into law. By looking at what Trump's tax plan means for Americans' take-home pay at different income levels, our team at Business Insider got a number of emails that made us realize something important: Most people don't understand how tax brackets actually work.
- Bloomberg•14 hours ago
Oil Falls to Near $57 on OPEC-Cuts Review, Increase in U.S. Rigs
Oil slipped to around $57 a barrel as U.S. drilling expanded and OPEC nations Kuwait and the United Arab Emirates signaled they can phase out production cuts if the market improves. Futures fell 0.3% in New York after climbing 2.5 percent in the previous two sessions. Drillers boosted the rig count by two to 751, a three-month high, according to Baker Hughes data on Friday. OPEC-led output curbs may end earlier than scheduled if the market re-balances by June, Kuwait’s then-oil minister said Sunday. Oil is heading for a second yearly gain as the Organization of Petroleum Exporting Countries and its allies including Russia extend supply cuts through the end of 2018. The extension includes an agreement
- Yahoo Finance•22 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?
- MarketWatch•12 hours ago
Analysts expect these large-cap U.S. stocks to rise at least 25% in 2018
(This is the first in a three-part series on analysts’ favorite stocks for 2018. The list of large-cap stocks is below and the series continues with mid-cap stocks and small-cap stocks.) About a year ago we listed analysts’ favorite large-cap stocks for 2017. We’re going to do the same for 2018, but first, let’s see how last year’s selections performed. The list reflected data as of the market close on Dec. 5, 2016. There were 18 S&P 500 stocks with majority “buy” ratings that analysts expected to increase at least 30% over the subsequent 12 months, based on consensus price targets: From Dec. 5, 2016, through Nov. 30, 2017, the S&P 500 Index rose 20%. Of analysts’ 18 favorite large-cap stocks
- 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 $18,580 eight hours after trading launched on the Chicago Board Options Exchange. The CBOE futures don't involve actual bitcoin.
