- CNBC.com•yesterday
Here’s what Warren Buffett says to do when the market tanks
On Friday, as investors reacted to the possibility of a trade war between the United States and China, the Dow Jones industrial average fell 400 points into correction territory, marking its worst week since January 2016. The Dow dropped a total of 5.7 percent over the week, while the S&P 500 fell 5.9 percent and the Nasdaq composite fell 6.5 percent. That leaves many investors worried and wondering what to do. During times of stress and uncertainty, Oracle of Omaha Warren Buffett recommends keeping a level head. In response to wild market fluctuations back in 2016, he told CNBC that buy-and-hold is still the best strategy. "Don't watch the market closely," he advised those worried about their
MarketWatch•15 hours agoDow Theory sell signal is now just one step away from being triggered
The Dow Jones Industrial Average tumbled 424.69 points Friday to close at a four-month low of 23,533.20. What makes the decline technically very significant is that closing below the Feb. 8 closing low of 23,860.46 completes half of the final step needed to trigger a Dow Theory sell signal, as MarketWatch senior columnist Mark Hulbert explained. Read: Opinion: The bull market in stocks is barely limping along The Dow Theory is a market timing tool that has been relevant on Wall Street for a century. With the Dow DJIA, -1.77% closes at a lower low, after a lower high, all that’s needed to trigger the sell signal is for the Dow Jones Transportation Average DJT, -1.84% to close below its Feb. 9
- barrons.com•yesterday
Wells Fargo Cleaning House as Probes Continue
Wells Fargo is shaking up its risk management leadership as it tries to recover from a series of scandals. Four top risk-management executives are retiring, and a reorganization is aimed at better managing risk going forward, according to The Wall Street Journal. The news, laid out in an internal memo, comes amid multiple regulatory probes in the wake of the bank’s fake account scandal and its sale of unwanted insurance policies. Wells, with about 14,500 brokers and $1.6 trillion of wealth management assets, has lost hundreds of advisors in the past couple of years. The word is that in-branch brokers have been struggling with the brand fallout more than the employee and independent advisors in
Yahoo Finance•2 days agoKroger in merger talks, Nike shares climb in early trade, KB Home up after earnings
Kroger Shares (KR) are surging here, up over +4.2%. The grocer is reportedly in talks with Target on a merger deal, according to Fast Company. This is presumably a move to counter Walmart’s huge presence in the grocery space and Amazon’s advance with Whole Foods.
- CNBC Videos•2 days ago
Fast and furious pullback 'indicative of bull market,' sa...
Katie Stockton, Fairlead Strategies founder and managing partner, provides a technical read on the market's sell-off.
- MarketWatch•9 hours ago
Stop saying the Dow is moving in and out of correction! That is not how stock-market moves work
The Dow Jones Industrial Average is in correction territory, a move that took effect on Feb. 8 when the blue-chip gauge closed 10.4% below its late-January high. Market technicians generally define a correction as a decline of 10% to up to 20% from a recent peak in an asset. But once that security slips in to correction phase, that trend is viewed as in force until it trades above its previous peak. Read: History suggests the correction isn’t near over, as this chart demonstrates In the case of the Dow, its previous high was Jan. 26 when it closed at a record of 26,616.71. The Dow DJIA, -1.77% came within 4.5% of that apex on Feb. 27, but that uptrend faltered. Also read: Did the stock market
- TheStreet.com•yesterday
Tech Stocks That Look Fairly Cheap Following the Rout
Here are some tech stocks whose multiples look quite acceptable following the recent Nasdaq selloff. trade at steep forward multiples even in the event that they pare back their spending and focus more on their bottom lines (Wall Street has given them a green light to prioritize growth, and it's hard to blame them for taking advantage. Facebook, stung by a scandal that has produced a lot of negative press but may ultimately have a limited impact on its top line, now trades for only 18 times its 2018 GAAP EPS consensus, and 16 times its non-GAAP consensus.
- Bloomberg•yesterday
U.S. Stock Market Decline
The U.S. stock market saw its biggest weekly decline since 2016 as fears of a trade war with China increased #tictocnews https://bloom.bg/2G99rH6 More from Bloomberg.comChina Hits Back on
- The Street•2 days ago
Video: Billionaire Ken Fisher on the Dow's 724 Point Plunge
Billionaire markets guru Ken Fisher, Chairman of Fisher Investments, reacts to Thursday's 724 point plunge in the Dow Jones Industrial average The stock selloff was sparked by worried over a trade war with China. President Trump announced some $60 billion worth of fresh tariffs on China Thursday. This comes on top of the steel and aluminum tariffs announced earlier this month. "The day was like a perfect storm, sometimes you get a tornado, sometimes you get a snow storm, sometimes you get both. Sometimes, you get both and an earthquake all at the same time" said Ken Fischer. "And today, you got that, where the magnitude of the damage was confused with the size of what would have tariff's imposed
InvestorPlace•2 days agoMicron Technology, Inc. Stock Is a Strong Buy Amid Wall Street Panic
Micron Technology, Inc. (NASDAQ:MU) reported earnings last night and it delivered a decent quarter. Since early February, equity markets have been on edge as a slew of nasty headlines poisoned the trader sentiment.
- Reuters•2 days ago
As trade tensions mount, China soybean buyers devise contingency plans
Chinese buyers of soybeans, the United States' biggest agricultural export to the country, are quietly drawing up contingency plans to ensure supplies of critical raw materials in the event of a trade war, sources said. The moves are the strongest sign yet that businesses in the world's most populous country are growing worried that critical commodities could get caught up in escalating trade tensions. At least two trading houses have started buying more rapeseed meal, an alternative ingredient used to make animal feed, in case the oilseed is a target of retaliation by Beijing, sources at the company familiar with the strategies said.
- Bloomberg•15 hours ago
U.S. Investors Will Have Chance to Buy Aramco Shares, Saudis Say
Americans will have a chance to own shares in Saudi Arabia’s oil company, the nation’s energy minister said. Saudi Energy Minister Khalid Al-Falih also said some investors have been slow to sign on to the reform plan proposed by Crown Prince Mohammed bin Salman because they are focused on dividends. “We are going to have to face that when we list Aramco and have a conversation about how much cash will be given to investors,” he said in a speech Saturday at the Massachusetts Institute of Technology.
- CNBC Videos•2 days ago
Morgan Stanley's stock picks for 'fresh money'
The “Fast Money Halftime Report” traders and Mike Wilson, Morgan Stanley chief U.S. equity strategist, discuss Morgan Stanley's "Fresh Money Buy List" that emphasizes a stock-picking environment in the market.
- Fortune•yesterday
Facebook Data Scandal: Here’s What Advertisers Are Asking the Social Network About Cambridge Analytica
The social media company’s stock has tanked more than 13% over the past five days, on the heels of the Cambridge Analytica data scandal. The company wasn’t exactly quick to communicate with the media and the masses, but over the last few days it has trotted out several executives, including CEO Mark Zuckerberg, to communicate the steps they are now taking to try and fix the underlying problems on the platform and assuage users’ concerns. Pressure is also coming from various regulatory bodies and, increasingly, from advertisers.
- Bloomberg•yesterday
How to Compare Climate Risk Across the Biggest Oil Companies
Energy companies could waste a massive $1.6 trillion by ignoring climate risk, according to a study by London-based nonprofit Carbon Tracker Initiative. To find out which oil and gas producers are most exposed to these risks, use a new app on the Bloomberg terminal that compares companies across the relevant metrics. The 2D Scenario Analysis Tool looks at 68 companies in the S&P Global Oil Index through a climate change lens. It starts with a hypothetical: Let’s say the world manages to act to limit the rise in average global temperature to 2 degrees Celsius (hence the 2D). To do that, demand for fossil fuels will need to fall. It then asks: How would that affect the oil companies? The analysis
Associated Press•yesterdayUS charges 9 Iranians in massive hacking scheme
The Trump administration announced criminal charges and sanctions Friday against Iranians accused in a hacking scheme to pilfer sensitive information from hundreds of universities, private companies and American government agencies. The nine defendants, accused of working at the behest of the Iranian government-tied Islamic Revolutionary Guard Corps, hacked the computer systems of about 320 universities in the United States and abroad to steal expensive science and engineering research that was then used by the government or sold for profit, prosecutors said. The hackers also are accused of breaking into the networks of government organizations, such as the Department of Labor, the Federal Energy Regulatory Commission and the United Nations, and private sector entities including technology companies and law and consulting firms.
- CNBC.com•2 days ago
GE's businesses are worth at least 25% more in a breakup than previously estimated, analyst says
The potential breakup of General Electric may unlock more value than previously thought, Melius Research analysts wrote in a note Friday. Past looks at the value of GE's individual businesses — also known as a "sum-of-the-parts" analysis — cast doubt on whether a fire sale of GE's assets would even fetch today's price at $13.28 per share. But Melius found that spinoffs from U.S. industrial companies return twice the value of the broader stock market, revealing a more optimistic forecast for GE. "GE's [sum-of-the-parts] as an example … likely undervalues the assets by 25 percent or more," Melius wrote. Former industrial conglomerates are shedding assets due to pressure from both shareholders and
- The Street•yesterday
Dropbox Stock Explodes 40% in Its Public Debut
Dropbox (DBX) is now a public company after a resounding reception by Wall Street. Shares of the data storage firm popped more than 40% on Friday as it debuted on the Nasdaq. With 500 million plus users, a good revenue growth story to tell and a lack of tech IPOs of late it's no surprise Dropbox was welcomed. Dropbox chief operating officer Dennis Woodside tells TheStreet the company's growth prospects are solid, despite tough competition from Action Alerts Plus holdings Amazon (AMZN) and Alphabet (GOOGL) . Added Listen Listen to TheStreet's Technically Speaking podcast to learn how to protect your data in the wake of Facebook's (FB) breach.
- Bloomberg•2 days ago
Nissan Wants to Sell One Million Electric Vehicles a Year by 2022
Six months after unveiling its revamped battery-powered Leaf, Nissan Motor Co. is pressing ahead with plans for an array of electrified vehicles in a bid to boost sales of the cars sixfold in five years. The Japanese carmaker set itself an annual target of selling 1 million new energy vehicles, including those with its e-Power powertrains, by the year ending March 2023, it said in a statement Friday. The plan includes developing eight pure EVs and staging an offensive in China under different brands, it said. The maker of the Leaf, once the world’s best-selling EV, is seeking to regain the lead it had lost to rivals including Tesla Inc. as the rapidly expanding market gets crowded with Chinese startups and other established manufacturers such as Volkswagen AG and General Motors Co. Facing a plateauing market in the U.S. and waning demand at home, Nissan is spending 1 trillion yen ($9.5 billion) over five years in China to help tap buyers.
- Business Insider•yesterday
CITI: There are 2 ways America's biggest companies dole out cash to shareholders — and one is way better than the other
REUTERS Companies that consistently buyback their shares outperform those that regularly pay dividends, according to Citi's Tobias Levkovich. Buybacks have helped support stocks at times when mutual funds and other large investors backed off. Critics
- Bloomberg•2 days ago
Oil Explorers Push U.S. Drilling to Pace Last Seen in 2015
Crude explorers boosted drilling activity in U.S. oil fields to levels not seen in three years amid rising confidence that worldwide demand will keep energy prices elevated. U.S. working rigs targeting oil rose by four this week to 804, the highest since late March 2015, according to data from Baker Hughes. West Texas Intermediate crude, the American benchmark, flirted with $66 a barrel this week for the first time since early February amid a confluence of bullish, international supply and demand indicators. Oil output in the U.S. rose by 26,000 barrels a day last week to 10.4 million, according to the Energy Information Administration.
The Street•yesterdayElon Musk's Pay Package Could Be Worth $50 Billion
All of the riders in the recently approved 10-year pay package for Tesla Inc. (TSLA) CEO Elon Musk could total more than $50 billion. Tesla says that the stock options in the package are worth $2.6 billion at current values, however, the pay scale incentivizes the CEO to increase the company's market cap from current levels in the $50 billion range to $650 billion. The company's board has credited Musk with increasing Tesla's market capitalization 17 times from where it was when Musk signed his previous incentive package in 2012. Musk, who currently owns more than 20% of Tesla shares, will get stock worth 1% of the company for each of the 12 milestones that are detailed in the new package.
Associated Press•yesterdayStocks tumble on trade fears; S&P has worst week in 2 years
Stocks around the world plunged Friday as investors feared that a trade conflict between the U.S. and China, the biggest economies in the world, would escalate. A second day of big losses pushed U.S. stocks to their worst week in two years. Investors fear that if China responds in kind to sanctions on $60 billion worth of Chinese imports the White House announced on Thursday, it will be a first step toward a full-blown trade war that could damage the global economy and slash profits at big U.S. exporters like Apple and Boeing.
- FX Empire•yesterday
Dow Jones 30 and NASDAQ 100 Price Forecast March 26, 2018, Technical Analysis
The Dow Jones 30 broke down initially during the trading session on Friday but found enough support just above the 23,600 level to turn around and form a hammer. If the Chinese and Americans can come together with some type of conclusion to this trade war, that should send the Dow Jones 30 higher as this is highly sensitive to exports. The NASDAQ 100 also fell during trading on Friday, but as we start getting close to the close, it looks as if buyers are stepping in.
- Bloomberg•yesterday
A Horror Week for the Dow Has Investors Begging for Trump Respite
At the epicenter this time is U.S. President Donald Trump, with his China tariffs driving Boeing Co. down more than 5 percent in a single session on Thursday and losses rippling across industries from technology to banks. “Investors that have for months relied on Trump’s pro-business rhetoric are now caught off guard,” said Matt Maley, equity strategist at Miller Tabak & Co. “Trade tariffs are a big change and China’s response can even get stronger. Consider this as a worrying sign of investor fragility: the S&P 500 has closed lower than the midpoint of its daily range for 10 straight days, the longest stretch since at least 1982.
