- 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-USD11,118.25-3.03%
- FTSE 1007,069.90-1.47%
- Nikkei 22521,181.64-2.50%
Yahoo Finance•2 days agoFormer 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
6 Reasons For Another $6 Trillion Stock Market Correction
The recent stock market correction shaved about $6 trillion off the market capitalization of equities worldwide, and a recent report from Bank of America Merrill Lynch (BAML) outlines six reasons why another plunge of similar magnitude is possible. For investors in U.S. stocks, the impact would be a return of the S&P 500 Index (SPX) to its intraday low on February 9, or 4.7% below its open on March 2, per BAML's calculations. For the Dow Jones Industrial Average (DJIA), revisiting its February 9 intraday low would be a decline of 4.2% from the March 2 open. Meanwhile, the Investopedia Anxiety Index (IAI) continues to record extremely high levels of concern about the securities markets among our
- InvestorPlace•2 days ago
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•2 days agoIs 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.
Associated Press•2 days 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.
- FX Empire•7 hours ago
Bitcoin Back in the Red and Holding on to $11,000
Bitcoin continued on from last week’s 14.08% gain, with a 3.77% rise on Saturday, which saw Bitcoin hit an intraday high of $11,503.24 in the latter part of the day, with its intraday low $11,022.85 coming within the first hour of trading and just off an opening $11,032.81. The moves through the day were in contrast to many of the cryptocurrency majors that struggled through much of the day, after hitting first major resistance levels in the early hours. Unlike the rest of the cryptocurrency majors, Bitcoin was able to break through its first and second major resistance levels and close out the day above both, while failing to break through to $12,000.
- Bloomberg•2 days ago
Pound Holds Steady as May's Brexit Speech Lends Little Clarity
The pound was little changed against the dollar after Prime Minister Theresa May failed to provide any new details to currency traders on how Brexit negotiations would proceed. “No new news for GBP markets from May’s speech,” said Viraj Patel, currency strategist at ING Bank in London.
- Investopedia•2 days ago
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
- The Wall Street Journal•yesterday
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.
- CNBC Videos•2 days 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.
- Bloomberg•2 days ago
Broadcom's Inflexibility Gives the Edge to Qualcomm
Technically, Qualcomm shareholders will be voting on Broadcom's attempt to overturn a majority of the chipmaker's board at the March 6 meeting. In reality, this is a referendum on Broadcom's takeover offer of $79 a share ($100 billion including debt) and the likelihood of any eventual deal getting regulatory approval. Broadcom lowered its bid from $82 last month because Qualcomm raised its own takeover offer for NXP Semiconductors NV in order to win over shareholders who had opposed that deal.
- CNBC Videos•2 days ago
Cramer: If Gary Cohn resigns, watch out stock market
A resignation by top White House economic advisor Gary Cohn would be bad for the stock market, CNBC's Jim Cramer warned on Friday.
- FX Empire•11 hours ago
Treasury Yields Pop on Fear of Trade War, More Robust Inflation
U.S. Treasury yields rebounded on Friday in reaction to President Trump’s tariff announcement on Thursday that sparked fear of a trade war and more robust inflation. According to Treasury data, the yield on the benchmark 10-year Treasury Note rose 6 basis points to 2.868 percent, while the yield on the 30-year Treasury Bond was up 6 basis points at 3.143. Some are saying that top Chinese officials could retaliate against unfriendly tariffs by reducing purchases of U.S. debt in the coming years, even as the Treasury Department prepares to increase supply.
Reuters•17 hours agoMIT study that found low pay for Uber drivers to be revisited
The study, by the MIT Center for Energy and Environmental Policy Research, found that drivers' median pretax profit was $3.37 per hour, using results from a survey of more than 1,100 workers of the ride hailing companies. Uber and other companies have defended their business models saying their drivers enjoy the flexibility of their work and on average earn more than the minimum wage, but have lost a series of court cases on the issue. Khosrowshahi criticized the MIT study in a tweet on Friday as "Mathematically Incompetent Theories (at least as it pertains to ride-sharing)," and linked to a response by Uber chief economist Jonathan Hall that challenged the study's methodology.
- FX Empire•yesterday
Alt Coins Forecast for the week of March 5, 2018, Technical Analysis
BTG/USD Bitcoin Gold initially tried to rally during the week but turned around at the $120 level to roll significantly and form a bit of a shooting star. The shooting star sits right at the bottom of the market, which is a very negative sign. However
- Business Insider•2 days ago
Ford says Trump's new tariffs could hurt US companies' ability to compete (GM, F, TSLA)
Trump's tariff's on steel and aluminum could raise the prices of vehicles that his voters like to buy. On Thursday, the Trump administration announced a tariff on imported steel and aluminum, signaling a willingness to start a trade war so that that the President could keep a campaign promise. Automakers who use a lot of steel and aluminum in their vehicles were either quiet or diplomatic, even as slower February sales compared to a year ago and the Trump announcement send the entire sector's stock prices into decline.
- American City Business Journals•2 days 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.
- Zacks•2 days ago
Spirit Airlines' (SAVE) 5-Year Contract With Pilots Ratified
Spirit Airlines, Inc. SAVE has announced ratification of its five-year deal with pilots, pertaining to wage increase. The carrier initially reached the tentative agreement in January 2018. Negotiations for the contract have been reportedly carried on
- Zacks•2 days ago
Alliant Energy's Focus on Renewable Assets to Drive Growth
Alliant Energy Corporation LNT is well positioned for long-term growth on strong economic development in its service areas, and ongoing investment in regulated natural gas and renewable energy assets. Alliant Energy has plans to invest nearly $5 billion during the 2018-2021 time frame. Alliant Energy currently targets long-term annual earnings growth in the range of 5% to 7%.
- MarketWatch•23 hours ago
Mylan shares bounce on plans for Botox copycat, 2018 drug launches
Allergan’s Botox brought in more than $3 billion in sales last year, and company shares dropped 3% on the news of an emerging rivalBotox is one of Allergan’s most valuable assets, and brought the company more than $3 billion in sales last year. Mylan NV shares surged on Thursday after the company announced plans to bring a lower-priced biosimilar version of the bestselling cosmetic treatment Botox to market. The biosimilar, a collaboration with Revance Therapeutics Inc. (RVNC), would allow Mylan to vie for one of rival Allergan’s (AGN) most valuable assets, which brought in sales of $3.17 billion in 2017.
Bloomberg•2 days agoScaramucci Banned from White House
It's official: Anthony Scaramucci is banned from the White House #tictocnews https://www.bloomberg.com/news/articles/2018-03-02/scaramucci-on-white-house-exclusion-list-blocking-visits More
- Barrons.com•2 days ago
VMware: It's All About Dell, Says Hilliard Lyons, Cutting To Hold
As mentioned earlier, most analysts looking at yesterday’s better than expected fiscal Q4 report from virtualization pioneer VMware (VMW) are concluding that financials don’t matter as much as Michael Dell’s rumored interest in taking the company private via a reverse merger. VMware shareholders have little to no recourse for any action taken by parent company Dell.
Reuters•2 days agoTrading firm Virtu distances itself from phony cryptocurrency
Virtu Financial Inc (VIRT.O) on Friday distanced itself from a fake cryptocurrency called VirtCoin that falsely claims to be affiliated with the global trading firm, highlighting the potential risks associated with the digital currency craze. Regulators around the world have been grappling with how to police digital currencies, which companies issue via "initial coin offerings" that are sold to investors in return for a crypto-currency like bitcoin or ether. The U.S. Securities and Exchange Commission has a number of active investigations into companies that claim to be in the cryptocurrency space, but which are really just trying to steal people's money, Steven Peikin, co-director of the agency's enforcement division, said in September.
- MarketWatch•2 days ago
Dow trades off its lows, but McDonald's stock tracking worst skid since 2008 exacts a nearly 50-point toll
The Dow Jones Industrial Average traded off its lows on Friday but the blue-chip gauge was being weighed by a sharp drop in shares of McDonald's Corp. . Shares of the fast-food giant were exacting a roughly 50-point toll on the price-weighted Dow , with its shares off 5.1% or $8. A $1 move in any one of the Dow's 30 components equates to a 6.89-point swing in the average.
Reuters•2 days agoS&P 500 gains for day but posts weekly losses on trade war fears
The S&P 500 ended another turbulent week on an upbeat note Friday, but major indexes posted their worst week of losses since early February as President Donald Trump's threat to impose import tariffs on steel and aluminium rattled investors. The gains on Friday came as investors who had been spooked by the prospect of a global trade war backed off those concerns and noted a trade war was far from certain at this point. Trump on Thursday threatened a 25 percent tariff on steel imports and 10 percent on aluminium without exemptions for any countries, igniting a selloff in a market already on edge over rising U.S. interest rates and bond yields.
