- The Street•yesterday
As Gold Hits 3-1/2-Month High, One Expert Says Big Money is Behind Metal
Gold prices were solidly higher on Wednesday as the metal hit a 3-1/2 month high, remaining above the key support level of $1,300 an ounce. Since the U.S. Federal Reserve Rate hike in December, the metal has managed to rally close to 6%. But Peter Hug, global trading director for Kitco Metals, is waiting for the road to fully clear. "I am not a complete bull on this market yet. I would like to see a close above $1,322 to create more momentum to the upside- it has failed three times before so until it clears that level, I am still neutral at this level," Hug said on Wednesday "I think the overnight news of China backing away from U.S. bond buying was the main catalyst to cause gold to ratchet
Bloomberg•2 days agoBank of America Warrant Holders Could Reap 4,000 Percent Returns
Holders of a little-known security tied to Bank of America Corp.’s stock price may be rolling in the dough. A series of securities known as Bank of America TARP B warrants, issued in the wake of the financial crisis in 2009 with a strike price of $30.79, are set to pay out after the stock surged past that point for the first time on Friday. The warrants last traded at $2.86, the highest price in more than six years.
- MarketWatch•2 days ago
What this financial adviser learned about retirement when she retired
“It’s hard to let go,” said Siegel, a semiretired Certified Financial Planner in Miami. Advisors spend countless hours helping clients plan for retirement. “Retirement will cost you more money than you think,” she declared.
- MarketWatch•2 days ago
Why it makes more sense to rent than buy
Most Americans (64%) live in a county where renting takes up a smaller portion of one’s paycheck than buying, according to a report released Thursday by real estate data firm Attom Data Solutions. “The buy-versus-rent calculus is shifting toward renting being more affordable,” said Daren Blomquist, vice president at Attom Data Solutions. With a strong jobs market they want to stay mobile and often can’t afford to buy near urban centers where they’re more likely to get a job and a job at higher wages, he said.
- CNBC Videos•7 hours ago
VW leads at the Detroit auto show with the Jetta
Michelle Krebs of Auto Trader says that VW is working to gain back trust as it leads with the Jetta at the Detroit auto show.
- The Street•2 days ago
These Are the 20 Best Stocks to Own as Millennials Take Over the Stock Market
Millennials ruin everything, right? Wrong, according to a 2018 outlook note from Fundstrat's Thomas Lee. According to Lee, the millennial demographic is "now kicking in," and it could provide an enormous tailwind for U.S. GDP and equity valuations over the next 10 to 20 years. Millennials are the largest generation ever at 95 million strong. While the millennial age bracket is largely considered 20 through 36, the median age for the generation today is 26.5 years old. As the young adults of America get older, they're amassing more money to invest and are aging into buying their first cars and homes. According to Fundstrat, the age group is not even in its prime income earning phases yet. The
Oilprice.com•12 hours agoCan The Oil Price Rally Continue?
Oil prices took a breather in early trading on Friday, raising questions over what will happen next. Inventories continue to fall, with the EIA reporting another strong drawdown in crude stocks for the week ending on January 5. At 419 million barrels and falling, U.S. crude inventories have not been this low since early 2015.
- Oilprice.com•2 days ago
Can We Afford Renewable Energy?
Over a decade ago we got involved in the development of the biofuels industry in Europe, when it began to take off in earnest there. At that time estimated profits from biodiesel production created considerable enthusiasm, which at one point turned euphoric with new production facilities being announced almost on a weekly basis. All that new demand ended up spiking the prices of vegetable oils – the key biodiesel production input – way above those of fossil fuels.
- The Street•23 hours ago
Video: This Is the One Number You Need to Know to Rescue Your Retirement
Consumers should aim to save 15% of their income in a 401(k) plan, according to Dan Houston, President, Chairman and CEO of Principal Financial (PFG) . "15% of your income today [should be] deferred for long-term retirement needs," Houston said, adding that raising 401(k) contributions lower one's annual tax bill. Money added to a 401(k) is pre-tax.
- MarketWatch•17 hours ago
Bank earnings will be ‘mixed’ and ‘messy’ — but there’s some good news
When fourth-quarter earnings season kicks off Friday, banks will be recording big, one-time charges that stem from the tax overhaul, as MarketWatch’s Francine McKenna has reported. “We expect investors to look through these one-time items and focus on core results,” said Jason Goldberg, Barclays’ bank analyst team leader.
Reuters•16 hours agoVW brand car sales hit 6.23 million record in 2017
Volkswagen's core autos division increased vehicle sales to a new record last year, as rising demand for VW brand models in the Americas and the key Chinese market offset a decline in western Europe. Deliveries rose 4.2 percent in 2017 to 6.23 million Volkswagen (VW) brand cars, the automaker said on Sunday at the Detroit auto show, helped by an expanding line-up of sport-utility vehicles including the all-new Atlas and Teramont models. Higher deliveries at the mass-market brand, accounting for almost 60 percent of VW group sales, may have helped the Wolfsburg-based company beat Toyota for a second year in the global sales race.
- Bloomberg•11 hours ago
Xiaomi Chooses Morgan Stanley, Goldman Among IPO Banks
Xiaomi Corp. selected Morgan Stanley and Goldman Sachs Group Inc. among international banks for its planned initial public offering, a person with direct knowledge of the matter said. Credit Suisse Group AG and Deutsche Bank AG have also been chosen to work on the IPO that could see the company target a valuation of as much as $100 billion, the person said, asking to not be identified as the details are private. The Beijing-based company is still considering Chinese underwriters and is yet to decide on the timing and location of the share sale, the person said. Xiaomi, which raised money at a $45 billion valuation in 2014, could be the biggest IPO since Alibaba Group Holding Ltd.’s $25 billion
The Street•2 days agoWarren Buffett Has $100 Billion to Spend, What's He Going to Buy?
Berkshire Hathaway Inc. (BRK.A) (BRK.B) has entered 2018 with more than $100 billion in cash on hand, mainly in treasuries, Chief Executive Warren Buffett said on Tuesday, meaning the Oracle of Omaha has about $80 billion for acquisitions. "Net, we're buying," Buffett said on CNBC. "We're basically buyers over time. There could be conditions under which we're sellers. For one thing, the money keeps coming so we basically keep buying," he continued. The Omaha, Neb.-based company with a market capitalization of about $510 billion is a collection of businesses that range from food to insurance, manufacturing and utilities. "The businesses benefit from best-in-class managements, unmatched balance
The Street•yesterdaySorry Bitcoin Fans, Warren Buffett Is Not the Dumbest Thing on Wall Street
Let's state the obvious: Warren Buffett is not a dumb man. In fact, he's a genius. After all, he didn't earn the moniker "Oracle of Omaha" for nothing. But the 87-year-old CEO of Berkshire Hathaway (BRK.A) (BRK.B) was raked over the coals on Twitter Inc. (TWTR) this week after he said bitcoin will "definitely come to a bad ending." To all those calling Buffett a dinosaur, a fraud or a failure for deciding to sit bitcoin's ascent out -- take a look in the mirror because you just might be among the dumbest ones on Wall Street. As soon as Buffett blasted bitcoin, the internet twisted into madness, with the "cryptomaniacs," as TheStreet's founder Jim Cramer calls them, publicly throwing stones at
- MarketWatch•1 hour ago
Have you received an email from Netflix? Read this first…
Thousands of Netflix NFLX, +1.84% customers have been scammed into handing out their credit-card information through a convincing-looking false email. The phishing scam prompted users to update their payment information on the site to avoid service being suspended. Once they clicked “update payment,” according to security company Mailguard, they were taken to what looked like a legitimate log-in portal to input credit-card information. Scams like this, called “brandhacking,” rely on the strength of a company’s name to get users to trust such emails. How would they know you have a Netflix account? They don’t. But some 99 million Americans have a Netflix account. These scams will only become
The Street•2 days agoWhat Is Walmart's Long Game With Sam's Club?
What in the world's going on with Sam's Club? That was the big question among Wal-Mart Stores Inc. (WMT) investors Friday, Jan. 12, a day after the superchain announced it was closing 63 Sam's Clubs throughout the country — or roughly 10% of its stable. While Walmart played off the shutterings as a shift in real estate strategy, emphasizing plans to convert 12 of those locations into e-commerce fulfillment centers for its warehouse arm, industry sources told TheStreet on Friday that Walmart has a one clear intention — to optimize its supply chain model across Walmart, Sam's Club and Jet.com. In the short term, Walmart will use those dozen warehouses to distribute Sam's Club products in online
- CNBC Videos•13 hours ago
Initial US bank earnings show regulatory loads easing
U.S. banks will become more willing to consider M&A, share-buybacks and increased lending after the tax cuts, says Kevin Miller of Systelligence.
Reuters•yesterdayFord unveils future Ranger pickup for segment rivals dominate
Ford Motor Co on Sunday will officially take the wraps off its long-awaited Ranger midsize pickup truck, a year ahead of its arrival in showrooms, as rivals consolidate positions in a segment Detroit automakers once gave up for dead. Ford executives did not disclose prices or fuel efficiency ratings for the new Ranger during a briefing for the media ahead of the official unveiling at the North American International Auto Show in Detroit. More than two years ago Ford telegraphed its decision to re-launch the Ranger midsize truck in North America after killing the model in 2011.
Bloomberg•yesterdayHot Money's Pushing Oil to $70, but OPEC Should Keep Cool
Brent crude touched $70 a barrel on Thursday, a level it last saw three years ago. That might start to look like a level where OPEC could say that its work to rebalance the market is done. Brent crude has been rising since Saudi Arabia began to cut its oil sales to the U.S. After all, its output deal has done a pretty good job of draining surplus inventories. And U.S. oil stockpiles, including crude, refined products and the oil stored in the Strategic Petroleum Reserve, have fallen by around 147 million barrels in the past 12 months and now stand just 23 million barrels above their five-year average, according to weekly government data. The total U.S. oil stockpile is approaching its 5-year
- MarketWatch•2 days ago
4 simple and effective ways to help a young person get a jump on retirement
There’s plenty of stressful news these days, and by and large I’m used to hearing or reading about unpleasant developments. But I was particularly alarmed by a report this fall that Congress was considering drastic cutbacks in the contribution limits to 401(k) and similar retirement plans. Currently, the maximum annual contribution to such plans is $18,500 ($24,500 for workers age 50 and older). These contributions are tax-deferred, meaning the money isn’t taxed until it is withdrawn, presumably after retirement when workers may be in lower tax brackets. Some House Republicans were thinking of reducing tax free or tax deductible contributions to as little as $2,400. The difference between death
- MarketWatch•2 days ago
Here’s what all 30 companies that make up the Dow industrials think about the tax cuts
President Donald Trump can make corporate America great, or at least more competitive, after he signed the tax bill into law Friday, according to a MarketWatch survey of the large multinational members of Dow Jones Industrial Average. Almost all the companies that responded applauded the legislation, mostly in the broadest sense and largely in corporate-speak without specifics, saying the lowered corporate tax rate would “allow” or “enhance” the ability of U.S.-headquartered companies to compete more fairly with overseas-based companies. The new tax law lowers the maximum corporate tax rate to 21% from 35%.
- Bloomberg•10 hours ago
Hong Kong Stocks Set for Record High as Rally Reaches 15th Day
The city’s benchmark index rose 0.8 percent to 31,665.58 as of 10:09 a.m. in Hong Kong, above its record close reached in October 2007. Building on its 36 percent ascent in 2017, the Hang Seng Index is finally about to recoup all of its losses since the global financial crisis in 2008 -- a process that took the U.S. just four years. Hong Kong’s recovery was slower, weighed down by the bursting of the Chinese stock market bubble in 2015 and sporadic bouts of concern about a hard landing for China’s economy.
- MarketWatch•2 days ago
Oilfield-services stocks are about to stage a big rebound, Credit Suisse says
Companies are increasing production and shedding debtThe time is right for a multiyear expansion for certain oilfield-services companies, including Halliburton, says Credit Suisse analyst James Wicklund. After a difficult 2017 for the energy sector, this is the right time for investors to buy shares of oilfield-services and equipment companies, according to Credit Suisse analyst James Wicklund. You could have made a lot of money if you had precisely timed the swings of the commodity and the stocks, but that’s almost impossible, even for professional investors.
The Street•16 hours agoGM Driverless Car That Doesn't Have a Steering Wheel Is Coming, Soon
General Motors steals the Detroit auto show before it even starts: The robot cars are coming. Ahead of the Detroit Auto Show's big kickoff on Sunday, General Motors (GM) said it's ready to mass produce by 2019 a car that doesn't have a steering wheel. If you are still waking up yes, that means the car will be fully autonomous. The cars, dubbed the Cruise AV, are still undergoing testing in the suburbs of San Francisco and Phoenix. While the photos of the Cruise AV floating around the internet won't win GM any design awards, they do underscore two things. First, chip-maker Nvidia (NVDA) -- an Action Alerts Plus holding that is a key player in the autonomous driving space -- probably deserves all
Business Insider•2 hours agoSoftBank has invested €460 million into a German car startup
Founded in Berlin in 2012, Auto1 has sold hundreds of thousands of cars on its platform. The SoftBank investment, which was announced by Auto1 in a press release on Monday, comes via the SoftBank Vision Fund.
