- S&P 5002,691.25+0.51%
- Dow 3024,538.06-0.29%
- Nasdaq7,257.87+1.08%
- Russell 20001,533.17+1.71%
- Crude Oil61.45+0.75%
- Gold1,323.70+1.42%
- Silver16.53+1.59%
- EUR/USD1.23+0.33%
- 10-Yr Bond2.86+1.89%
- Vix19.59-12.82%
- GBP/USD1.38+0.17%
- USD/JPY105.72-0.36%
- BTC-USD11,473.80+3.90%
- FTSE 1007,069.90-1.47%
- Nikkei 22521,181.64-2.50%
- The Street•yesterday
6 Reasons for Another $6 Trillion Stock Market Meltdown
Here comes more bone-crushing pain for stock market bulls. Maybe. The global equity market cap is down $6 trillion to $80.6 trillion during the latest correction, points out Bank of America Merrill Lynch. Here's why BofA thinks more selling could be in store. Peak Optimism The reality remains that investors remain too bullish. BofA's bull and bear indicator continues to be in "very bullish" territory. "People were investing in equities with impunity. They thought there was no risk," Blackstone (BX) market sage Byron Wien recently told TheStreet. "The correction taught them that there is risk. I don't think they fully learned their lesson though. Now that the market has turned around so sharply,
Associated Press•23 hours agoJ.C. Penney says it has cut jobs, offers muted outlook
Department store chain J.C. Penney says it has cut more than 300 jobs and reported disappointing sales at established stores for the quarter that includes the holiday season. The news Friday overshadowed strong profits as investors worried about Penney's ability to remake itself in a changing retail market — especially after the good economy contributed to stronger results at chains such as Macy's and Kohl's. J.C. Penney eliminated 130 positions across all departments at its Plano, Texas, headquarters, and said restructuring regional, district and store support teams to eliminate bureaucracy led to 230 job cuts.
- The Wall Street Journal•12 hours ago
A Wager That Appears Just Too Big to Buffett
In the bet, made at the end of 2007, Mr. Buffett correctly wagered that several bundles of hedge funds selected by investor Ted Seides wouldn’t be able to outperform the S&P 500 over the ensuing decade. What Mr. Buffett didn’t mention directly in his letter is that Berkshire Hathaway didn’t outperform the S&P 500 over that stretch, either. Over the 10 years ended last year, Berkshire Hathaway returned an average of 7.7% annually.
Business Insider•yesterdayFreezing your credit after the Equifax breach won't prevent the most common type of identity theft — here's what will
A credit freeze protects against new accounts being opened in your name, which happens to 4% of identity-theft victims. After the Equifax breach, which exposed sensitive personal information for nearly 150 million Americans, identity-theft horror stories have been easy to come by. Equifax offered consumers the option to freeze their credit for free in the wake of the massive hack, but that benefit will soon expire.
- InvestorPlace•yesterday
Micron Technology, Inc. Stock Is a Beast — Buy This Dip
The tech-heavy Nasdaq Index is probing below its 50-day moving average this morning. Stocks like Micron Technology, Inc. (NASDAQ:MU) have been holding firm and will arguably be the first to pop once the broad market selling pressure abates. Before diving into Micron’s stock chart, let’s first see how the Vaneck Vectors Semiconductor ETF (NYSEARCA:SMH) has been faring.
Bloomberg•yesterdayIs Another $6 Trillion Stock Slump Coming? Wall Street Can’t Agree
The swings are getting bigger in stocks, and the divide is getting wider among people whose job is to forecast them. Bank of America strategists led by Michael Hartnett say they see another correction coming, similar to the one in early February when about $6 trillion was erased globally. The S&P 500 is likely to drop to 2,534, a level where the last 10 percent correction ended, the strategists wrote in a March 1 note.
InvestorPlace•yesterdayThe Future Doesn’t Look Great for Advanced Micro Devices, Inc. Stock
In theory, any investor discussion about the merits of owning Advanced Micro Devices, Inc. (NASDAQ:AMD) would focus on its fiscal prospects, which have a real impact on AMD stock. Clearly the GPU-market-leading Nvidia Corporation (NASDAQ:NVDA) would factor in, as would the CPU-market-leading Intel Corporation (NASDAQ:INTC). AMD stock holders know all too well that Advanced Micro Devices competes and struggles with both of those outfits.
- Barrons.com•yesterday
Broadcom: Win, Lose or Draw Tuesday, You Can't Lose, Says Macquarie
D-Day is drawing nigh for Qualcomm (QCOM) and Broadcom (AVGO), when Qualcomm holds its annual shareholder meeting, next Tuesday, March 6th. Qualcomm opposes that. Srinni Pajjuri with Macqurie Research today pounds the table for Broadcom shares, no matter how things turn out on Tuesday.
- CNBC Videos•22 hours ago
Kevin O'Leary: If tariffs are a negotiating tactic, I'm w...
Kevin O’Leary, O’Shares ETFs chairman, weighs in on the impact of proposed steel and aluminum tariffs on businesses in the U.S. and Canada.
InvestorPlace•yesterdayWhy You Shouldn’t Count Apple Inc. Stock Out for Much Longer
Shares of Apple Inc. (NASDAQ:AAPL) fell sharply along with the overall market yesterday. The Warren Buffett favorite was pretty much the last man standing, but ultimately the intense selling pressure took down even Apple stock. In my previous post on Apple stock from Feb. 21, I postulated that a rally in AAPL was about to end, which proved to be accurate.
- CNBC.com•2 days ago
Michael Dell is working on the details of VMware merger, and here's what it will probably look like
Michael Dell and his advisers are beginning to focus on the details of a reverse merger with VMware to take Dell Technologies back into the public market, though any final decision or deal is more than a month away, said people familiar with the matter. Dell and VMware are considering an equity exchange, which may or may not include some cash, that would give Dell access to all of VMware's cash flow by merging the companies together as a new publicly traded entity. A combined Dell-VMware would also acquire the Dell tracking stock (ticker: DVMT) at a premium, the people said, who asked not to be named because the discussions are private. Michael Dell is considering a deal now in part because his server business is growing and the PC business is stable, one of the people said.
- Zacks•2 days ago
Buffett Backs Great Rotation: 4 Value Stocks & ETFs to Buy
The Oracle of Omaha recently reaffirmed his liking for the concept of great rotation — a shift to equities from bonds. Warren Buffett believes long-term investors should go for stocks over bonds as in most cases the former is likely to outperform the
Reuters•2 days agoFemale-led investor group to buy Weinstein Co assets
Former Small Business Administration chief Maria Contreras-Sweet plans to launch a new company, save about 150 jobs, protect the small companies that are owed money, and create a victims' compensation fund that will supplement existing insurance coverage for those who have been harmed, she said in a statement. The Weinstein Company's board of directors confirmed it had reached a deal with Contreras-Sweet and supermarket billionaire Ron Burkle. The studio nearly went bankrupt after more than 70 women accused co-founder Harvey Weinstein, then one of Hollywood's most influential men, of sexual misconduct including rape.
Yahoo Finance•yesterdayFormer hedge fund manager Whitney Tilson has his kids' college funds in 5 stocks
Former hedge fund manager Whitney Tilson, the founder of KASE Learning, has his children’s college savings accounts in only five stocks. The value investor and father of three daughters allocated 50% in Berkshire Hathaway (BRK.A) (BRK.B), 25% in Howard Hughes Corporation (HHC), and the remaining 25% split evenly among Facebook (FB), Google’s parent company Alphabet ( GOOGL), and Amazon (AMZN). It’s generated quite a buzz because people seem to think that five stocks is an unusually low number, and I sort of laugh because I would be perfectly happy having my entire net-worth in 100% Berkshire Hathaway stock alone.
- Investopedia•2 days ago
Bond Bubble Is Beginning to Unwind: Greenspan
Bond prices have been having a good run for a long time, but that may be coming to an end, with former Federal Reserve Chairman Alan Greenspan warning about a bubble in that segment of investing. In an interview with CNBC, Greenspan, famous for his use of the phrase “irrational exuberance,” said the markets are currently in a bubble when it comes to bonds. “Prices are too high” on bonds, Greenspan said on “Squawk on the Street,” a CNBC program. (See also: 11 Stocks That Outperform as Interest Rates Rise.) As for the recent swings in equities, Greenspan said that as real long-term interest rates rise, stocks tend to fall, but that’s not likely what’s going on with the current market swings. "The
- Fox Business Videos•2 days ago
401(k) advice for investors amid plunging stocks
America’s Best 401(k) CEO Tom Zgainer discusses what people need to do with their 401(k)s as the Dow Jones Industrial Average falls into negative territory after President Trump announced new tariffs on steel and aluminum imports.
- Investopedia•yesterday
Bitcoin Price Sinks Amid SEC Cryptocurrency Investigation
Bitcoin prices have been dropping steadily after news broke that the Securities and Exchange Commission had launched an investigation of cryptocurrency-related tech companies and advisors this week. At 14:34 UTC today, the price of one bitcoin token traded at $10,811, down 3% from $11,165.66 just 12 hours earlier. While the exact cause of the drop in value isn't clear, market observers believe it's related to the "scores of subpoenas" the SEC had issued to tech companies and advisors linked to the virtual currency market. Specifically, the SEC is targeting initial coin offerings (ICO) to investigate how they're structured. ICOs are not heavily regulated, unlike public stock offerings. Cryptocurrency
Associated Press•2 days agoAsian stocks skid, tracking Wall St loss on tariff fears
HONG KONG (AP) — Asian shares posted steep declines Friday, adding to global stock market losses after President Donald Trump vowed to impose stiff steel and aluminum tariffs, sparking fears of a trade war.KEEPING SCORE: Japan's benchmark Nikkei 225 lost
- Zacks•2 days ago
Is Kroger (KR) Set to Top Earnings Estimates?
By now, nearly every investor knows that Amazon AMZN has shaken up the grocery industry, along with almost every other sector of the retail business. Walmart WMT and Target TGT added new trendy offerings, committed more to remodels than new locations, and focused on improving their online sales and delivery capabilities. Grocery power Kroger KR, which boasts 2,793 retail food stores under a variety of banners, has also set out to revamp its business model to better compete going forward.
- WSJ•yesterday
U.S. Car Sales Fall as Credit Terms, Higher Payments Squeeze Buyers
Auto sales slumped in February as tightening credit conditions, higher interest rates and stingy discounts drove up monthly payments and slowed the U.S. car business even as the broader economy rolled along. During the sales boom of past years, automobiles got more expensive due to the introduction of new technology and a migration to heftier trucks and SUVs, but consumers could afford them with the help of easy credit and a flood of incentives.
Bloomberg•yesterdayNew Grist in Tax-Cut Debate Is $800 Billion Buyback Estimate
Flush with cash from President Donald Trump’s tax overhaul and bathing in more earnings than they know what to do with, U.S. companies are embarking on a buyback binge of historic dimension. How big will it be? JPMorgan Chase & Co. strategists led by Dubravko Lakos-Bujas estimate that gross share repurchases will reach a record of around $800 billion this year, up from $530 billion in 2017. Just under half is attributable to improving profit growth, lower corporate levies and the repatriation of overseas cash under Trump’s program. “Stock repurchases should accelerate as companies look to return record profits and repatriate foreign cash earnings,” the report said. “With strong buyback activity
Business Insider•yesterdayAn ex-YouTube recruiter claims Google discriminated against white and Asian men — then deleted the evidence (GOOG)
Google stopped hiring white and Asian candidates for jobs at YouTube in late 2017 in favour of candidates from other ethnicities, according to a new civil lawsuit filed by a former YouTube recruiter. Arne Wilberg claimed in his suit that YouTube recruiters were instructed to hire "all diverse" candidates in late 2017, and that he was fired in November last year after complaining.
InvestorPlace•yesterdayPrint Dollars in 3D Systems Corporation
3D Systems Corporation (NSYE:DDD) isn’t printing money for bulls just yet, but Wednesday was a nice step in the right direction both off and on the 3D Systems stock chart. Bottom line, the past four years have been a hard lesson for some investors wagering too aggressively on 3D Systems. Wall Street’s once deafening drumbeat of hype and overly ambitious expectations have been replaced by poor business conditions and a crashing stock price that could still find some bulls underwater by as much as 88%.
- American City Business Journals•20 hours ago
FedEx Trade Networks realignment takes effect, 'more streamlined'
Effective March 1, FedEx Trade Networks (FTN) includes: FedEx Custom Critical, FedEx Cross Border, FedEx Supply Chain, FedEx Trade Networks Transport and Brokerage and FedEx Forward Depots — a new company that will oversee critical inventory and service parts logistics, 3-D printing, repair center and the FedEx Packaging Lab . “We are now a little over three times the size we were before, but we have a much more streamlined commercial front-end for customers that makes it easier for them to do business with us in these specialty logistics segments,” said Richard Smith, CEO of FTN.
- Yahoo Finance•2 days ago
AAA forecasts spring gas prices will be highest since 2015
Although prices at the pump have fallen in recent weeks, AAA predicts that the national gas price average will jump to $2.70 a gallon this spring and early summer. The last time gas reached that level was the spring/summer of 2015, when motorists were paying $2.81 a gallon. AAA expects prices to jump in early April, around the time when refineries switch over to their summer blend, which is more expensive.
