- MarketWatch•3 hours ago
How low will the Dow go? Brace yourself for the worst-case scenario
It seems like only yesterday that millennials were sharing their 401(k) accounts online, telling the world they were millionaires on paper. Well, it was. Or last week, to be exact. And what a week it has been. Some saw it coming. They said the stock market was long overdue a reality check, or two. Others felt like the bull market could go on and on. After a week of nerve-wracking volatility, the Dow Jones Industrial Average DJIA, +1.38% fell more than 1,000 points Thursday, or 4.15%, extending its recent selloff to more than 10%. That means the Dow is now officially in correction territory. A correction, in theory, could extend to 19%. Beyond 20% and we’re officially in a bear market. That’s
- Puget Sound Business Journal•2 days ago
'Time is running out' for Boeing decisions on mid-sized 797 aircraft
Boeing is studying three different engine designs for a new mid-sized passenger airplane dubbed the 797, delegates at the Singapore Airshow heard this week. The leading contender is GE Aviation (through its CFM International joint venture), which said Boeing will have to make a decision in 2018 for the potential aircraft to be ready to enter service in 2025. “Time is running out,” Chaker Chahrour, GE Aviation’s vice president and general manager of global sales and marketing, said at the Singapore Airshow Aviation Leadership Summit, according to aviation industry news publication FlightGlobal. FlightGlobal reported that proposals from three major engine makers for the new aircraft all differ
- The Street•3 hours ago
Ignore the Noise, Gold Is in a Bull Run -- Expert
(Kitco News) - Gold was off to a good start this year but has not rallied in the face of recent volatility in equity markets. Bill Baruch, president of Blue Line Futures, said that a lot of gold's rally in the new year was due to seasonal factors. "Ultimately, I do feel that there is a seasonal play," Baruch told Kitco News, "people look for that time to reinvest or purchase gold as they look at and re-evaluate their portfolios." Gold has not been rallying on the back of stocks falling because investors are selling gold to cover margin calls, according to Baruch. "People position long gold ahead of a stock market correction, and not necessarily buying gold after a stock market correction," he
- MarketWatch•2 hours ago
This stock-market shakeout looks a lot like 1996-97
The stock market’s turn from borderline euphoria to full-blown correction was swift and unsettling, but it isn’t completely unfamiliar territory, according to one of Wall Street’s top technicians. Jeff deGraaf, chairman of Reinaissance Macro Research, said his firm has a program that looks at price changes for the S&P 500 index SPX, +1.49% over the last-12-month period and then compares them to rolling 12-month historical returns to find the highest correlation with current market action. In a Friday note, he said the closest match, or analog, is the March 1996 to March 1997 period, which had a .94 correlation (a reading of 1.0 would be perfect correlation). That should provide some comfort
- Bloomberg•2 days ago
Steve Wynn Surrenders Control Over Ex-Wife Elaine's Shares
Steve Wynn, the billionaire who resigned as chief executive of the casino company he founded following accusations of sexual harassment, agreed to give his ex-wife voting control over her shares. The decision, announced by the company Friday, ends a six-year legal battle between Steve and Elaine Wynn. Wynn Resorts said in a regulatory filing Friday that Steve Wynn has no immediate plans to sell his roughly 11.8 percent stake, according to data compiled by Bloomberg.
- Yahoo Finance•2 days ago
Nvidia is scrambling to get graphics cards to gamers amid crypto boom
Nvidia CEO Jensen Huang says his company is working to get more graphics cards on the market and into gamers’ hands as cryptominers empty stocks and drive up prices. Nvidia’s (NVDA) most loyal customers, — gamers — are feeling the squeeze as cryptominers buy up every graphics card they can find, driving card prices through the roof. The graphics card maker announced record fourth quarter revenue of $2.9 billion on Thursday, with its gaming division leading the way with $1.7 billion for the quarter.
- Yahoo Finance•2 days ago
Ripple CEO Brad Garlinghouse: 'There's a lot of FUD about XRP'
The price of the digital token XRP rose 32,000% in 2017. It was a staggering surge, and it happened despite the fact that many people buying up XRP don’t know anything about the company and the technology behind it, Ripple. In addition, Ripple, the company, owns 60% of the supply of the token XRP, which leads crypto enthusiasts to criticize XRP for not being truly decentralized, the way that bitcoin and other leading digital tokens are decentralized.
- CNBC Videos•2 days ago
Cramer's game plan: No common stock is safe until the vol...
Jim Cramer looks ahead to key stocks and events investors should watch next week as the stock market lifts from its lows.
- CNBC.com•2 days ago
Broadcom CEO 'astonished' that Qualcomm wouldn't meet over the weekend to talk merger
Qualcomm rejects Broadcom's revised offer 8 Hours Ago | 03:49 If you want to fight with Broadcom, you'd better be willing to put in some overtime. At least that's what the chipmaker implied this week in an SEC filing addressed to Qualcomm —the latest document in an M&A struggle between the two rivals. In the filing, Broadcom CEO Hock Tan writes to Qualcomm executive chairman Paul Jacobs that he was "astonished" Qualcomm did not accept a weekend meeting to discuss a potential merger. "Broadcom has long sought a meeting to discuss Broadcom's acquisition of Qualcomm. Following Qualcomm's announcement today that it is willing to meet with us, we offered to meet with Qualcomm on Friday, Saturday
- MarketWatch•2 hours ago
These people are retiring early — but they’re not worried by the volatile markets
Gwen Merz is retiring from her full-time job at the end of March, at the age of just 27. But she’s still not worried about volatility in the stock market this week. “I had no idea the market was even going down until people in the Facebook FB, +2.64% groups I’m part of were saying, ‘There’s a drop, but it’s going to be OK,’” she said. “I really, truly don’t pay attention. It’s better for my mental health.” Merz works in IT for executives of a Fortune 100 Company, but she has been aggressively saving so that she can work only on her own terms in the future. She lives in Iowa and plans to move to join her boyfriend in Minnesota in April. To reach those goals, she has been maxing out her retirement
Reuters•2 days agoWaymo accepts $245 million and Uber's 'regret' to settle self-driving car dispute
Uber Technologies Inc will pay $245 million worth of its own shares to Alphabet Inc's Waymo self-driving vehicle unit to settle a legal dispute over trade secrets, allowing Uber's new chief executive to move past one of the company's most bruising public controversies. The settlement was announced on Friday just before the fifth day of testimony was about to begin at a jury trial in San Francisco federal court. Waymo sued Uber last year, saying that one of its former engineers who became chief of Uber's self-driving car project took with him thousands of confidential documents.
- MarketWatch•2 hours ago
Remember when the head of the world’s largest hedge fund said you’d ‘feel pretty stupid’ holding cash? How’d that work out?
Bridgewater Associates founder Ray Dalio offered some guidance to investors a few short weeks ago, on the sidelines of the World Economic Forum in Davos, Switzerland. It was simple and clear as MarketWatch reported: “If you’re holding cash, you’re going to feel pretty stupid,” the hedge-fund maestro said. The comments came just days before the Dow Jones Industrial Average DJIA, +1.38% and the S&P 500 index SPX, +1.49% touched fresh all-time highs on Jan. 26. Worth a read: Stock markets don’t need a ‘trigger’ to correct, says Robert Shiller However, Dalio was flat-out wrong, if he intended to prevent investors, waiting on the sidelines, from missing spectacular gains. In fact, the Dow and S&P
- Zacks•22 hours ago
3 ETFs to Watch on Biotech Earnings
The earnings season is off to a flying start, owing to a slew of upbeat economic data, strong corporate performance and President Donald Trump's tax reform signed into law. However, equity markets have been suffering a sell-off owing to fears of rising
Reuters•2 days agoBarclays in U.S. set to join cryptocurrency credit card ban: report
Barclays is likely to follow other major lenders in the United States in stopping customers from buying Bitcoin and other cryptocurrencies with its credit cards, according to an interview with a senior executive at its credit card unit. "We are making the decision that we will likely no[t] allow cryptocurrency purchases on the card," Paul Wilmore, managing director at Barclaycard, told Bank Innovation blog. A spokeswoman for Barclays in London said that the bank is reviewing its policy on a country-by-country basis and that it had not yet changed its policy.
- The Street•2 days ago
Jim Cramer on Amazon Delivery: FedEx Is Not a Company That's Easily Beaten
Amid a report in The Wall Street Journal saying Amazon is set to start a delivery service that could compete with FedEx (FDX) and UPS (UPS) , TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer said FedEx is "not a company that's easily beaten." Subscribe on Youtube for extended interviews, Cramer Replays, feature content, and more!
The Street•2 days agoOil Prices Extend Losses Amid Rising U.S. Production
U.S. oil prices extended losses on Friday, Feb. 9, after U.S. oil and gas producer brought 29 rigs online this past week, Baker Hughes (BHGE) said. U.S. oil producers brought 26 rigs online for a total of 791. Gas rigs, meanwhile, climbed by three to 184, bringing the overall total U.S. rig count to 975. The U.S. rig count is up 234 rigs from last year's count of 741. There are 200 more oil rigs than there were during the same period last year and gas rigs have increased by 35 year over year. U.S. benchmark West Texas Intermediate contracts for March delivery fell 3.5% to $58.99, the first time since December that WTI crude slipped below $60 a barrel. Brent crude futures, the global benchmark,
- CNBC Videos•2 days ago
Here are some stock picks for the volatile market
"Fast Money" trader Guy Adami and Chad Morganlander, Washington Cross Advisors, answer viewer tweets about the buying opportunities in the volatile market.
- CNBC.com•2 days ago
Cramer reviews the Dow's 10 biggest losers during the sell-off
Even in a gyrating market like this one, sometimes the bargains are right in front of you, CNBC's Jim Cramer said on Friday as the major averages lifted from their lows. "I don't want to say that the pain is over, but you should certainly prepare for more days like today. Remember, we've seen this movie before. The last time the market got crushed like we've seen over the last week was in January of 2016," the "Mad Money" host said. "It turned out to be an epic buying opportunity, as the market rallied 10,000 points over the next two years." As focused as Cramer was on finding good buys, he also wanted to get a better sense of the market layout. "You need to be systematic with your bargain hunting,
Yahoo Finance•2 days agoStocks reverse higher to end brutal week
A very bad week ends with another whipsaw day. We get technical and break down the S&P 500’s wild chart. And, it’s a big week for Apple — and not just because of its share price. We review the Apple HomePod. Plus a look ahead to everything you need to
- Bloomberg•2 days ago
‘Shut Up and Let Me Trade’: The Week That Rocked Stock Markets
One of the wildest runs in U.S. stock-market history began with the collapse of arcane bets on volatility and ended with a sober realization: The easy ride is over. It was the hot trade on Wall Street.
- Bloomberg•yesterday
Airbus Halts Pratt A320Neo Shipments as Engine Issues Emerge
Airbus SE has halted all deliveries of its Pratt & Whitney-powered A320neo after the latest disclosure in a series of flaws with the next-generation engine, according to the company’s biggest customer for the aircraft. IndiGo, India’s biggest carrier, said on Saturday that it had withdrawn three affected planes from service and canceled some flights after the European Aviation Safety Agency warned of a new issue on the troubled engine program that may be connected to several in-flight shut downs. The Product Safety Boards of Pratt & Whitney and Airbus have decided that “all neo deliveries are postponed till further notice,” IndiGo spokesman Ajay Jasra told Bloomberg. The disclosure marks a blow to efforts by Pratt, a unit of United Technologies Corp., to restore confidence in its most important product following a series of glitches on the engine.
Yahoo Finance•yesterdayThis past week's stock market chaos, explained
This past week was a wild one for the stock market. Each of the major U.S. averages lost more than 5% with the Dow losing more than 1,000 points in a single day twice. Despite a more than 1% rally to cap the week on Friday, each of the Dow, S&P 500, and Nasdaq lost 5.2%. Monday’s sell-off, which was the largest point decline in the Dow’s history as the blue chip index shed 1,175 points, was chaotic and disorienting.
Reuters•5 hours agoInvestors brace for more swings as U.S. inflation specter rises
The inflation bogeyman has reared its ugly head and sent U.S. stock investors racing for the hills in recent days. Next week, coming off one of the most volatile stretches in years, two important readings on U.S. inflation could help determine whether the stock market begins to settle or if another bout of volatility is in store. If the January's U.S. consumer price index due next Wednesday from the U.S. Labor Department, and the producer price index the next day, come in higher than the market anticipates, brace for more selling and gyrations for stocks.
- The Street•yesterday
Millennials on Wall Street May Be Clueless on What to Do After Violent Selloffs
The week's violent stock market selloff may have many millennials working on Wall Street unsure on what to do next. Meanwhile, it was good to see investors finally realize there are risks to investing. After all, earnings this week from Action Alerts Plus holdings Apple (AAPL) and Facebook (FB) are far from certain to blow away bullish Wall Street. Receive the free daily "Morning Jolt" newsletter by heading here. More of What's Trending on TheStreet: 4 Big Takeaways From President Trump's Speech That Investors Need to Know About 5 Keys to Apple's Big Earnings Report This Week Is Amazon-Berkshire-JPM Venture Healthcare Disruption or Just a Huge Group Plan? 5 Worst-Case Scenarios That Could Cause
- MarketWatch•2 hours ago
‘The past 7 days have been the worst of my financial life’
There’s always someone somewhere who is worse off than you. Often, you can find them on Reddit. Some people are betting big on bitcoin, others are fretting over the Dow Jones Industrial Average DJIA, +1.38% and S&P 500 SPX, +1.49% Meanwhile, millions of Americans continue to lose their shirt the old-fashioned way. This Reddit user, the appropriately named MaxedOut79, is 28-year-old independent contractor who earns $80,000 to $90,000 per year. He’s doing pretty well for a man of his years, given that he earns 50% more than the median U.S. household. And this week, it all went horribly wrong. “Before this past week, I was only an occasional gambler,” he wrote. “I’d buy $5 to $10 in scratch off
