A trader works at the New York Stock Exchange in New York. Wang Ying | Xinhua News Agency | Getty Images What exactly happened during the “once in a decade” stock market rotation earlier this month that rocked investors? It might’ve just been a one-off technical move and not based on fundamentals. A huge rotation
Finance
With the S&P 500 about one percent from its all-time highs, Wall Street bull Edward Yardeni is predicts a record breakout is coming. The Yardeni Research president believes between now and the end of next year, the index will soar 17% from current levels. “I’ve got 3,500 as my target for next year,” he told
Goldman Sachs CEO David Solomon performs at Schimanski night club in Brooklyn, New York, October 14, 2018. Trevor Hunnicutt | Reuters To the many titles of David Solomon, including CEO of Goldman Sachs and electronic music performer DJ D-Sol, add one more: music impresario. Solomon launched Payback Records last year as his music career was
Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the opening bell on August 19, 2019 in New York City. Drew Angerer | Getty Images Developments in U.S.-Chinese trade talks and the comments from a host of Fed speakers could be important for markets in the week ahead,
The New York Federal Reserve will continue overnight repurchase operations through October as it seeks to quell market instability from earlier this week. Short-term rates in the “repo” market spiked overnight Monday amid a shortfall in funding stemming from a variety of factors. The Fed responded with a series of liquidity injections aimed at preventing
U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer arrive for a group photo session after a meeting with Chinese Vice Premier Liu He in Beijing on May 1, 2019. Andy Wong | AFP | Getty Images BEIJING — The U.S. is temporarily exempting more than 400 types of Chinese products from tariffs
British pounds Matt Cardy | Getty Images The British pound jumped on Thursday after European Commission President Jean-Claude Juncker said he is confident a Brexit deal will get passed before the deadline. “I think we can have a deal,” Juncker said in an interview with Sky News. “I am doing everything to have a deal
A visual representation of a cryptocurrency coin on display in front of the logos for Facebook and Libra. Chesnot | Getty Images Policymakers around the world have upped the pressure on libra, the digital currency being introduced by Facebook, amid concerns it could heavily disrupt the global financial system. On Tuesday, European Central Bank board
People walk past an AT&T store in New York on October 23, 2016. Kena Betancur | AFP |Getty Images Check out the companies making headlines after the bell: AT&T shares climbed more than 2% in extended trading following a Wall Street Journal report that the company is exploring a spinoff of DirectTV unit as its
Traders work on the floor of the New York Stock Exchange (NYSE) on August 23, 2019 in New York City. Eduardo Munoz Alvarez | Getty Images Check out the companies making headlines in midday trading: FedEx — Shares of the shipping giant dropped more than 14% on the back of weak quarterly earnings. FedEx reported
Large banking institutions face the risk of failure if interest rates in Europe continue to stay negative, an economist told CNBC after the European Central Bank cut rates last week. “I think there are big questions to banking sector profitability,” global chief economist of the Economist Intelligence Unit, Simon Baptist, said Friday. The ECB on
Jeffrey Gundlach speaking at the 2019 SOHN Conference in New York on May 6th, 2019. Adam Jeffery | CNBC DoubleLine CEO Jeffrey Gundlach believes the bottom for interest rates is in for 2019. Growing fears about a possible global economic slowdown prompted Treasury yields to hit their historic lows a few weeks ago. The so-called
The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Dish Networks. Karen Finerman was a seller of S&P 500 ETF puts. Dan Nathan was a buyer of Lyft. Guy Adami was a buyer of Delta Airlines. Disclosure Trader disclosure: Pete is long calls ALLY, ASHR, ATUS, BMY,
Michael Wirth, CEO of Chevron. Adam Jeffery | CNBC The attack against Saudi Arabia’s oil facilities is a wake-up call to dangers in the oil market, according to Chevron CEO Michael Wirth. “Perhaps the market had grown a little bit comfortable with risks that we never became comfortable with,” Wirth told CNBC’s “Closing Bell” Monday. “These
Traders work on the floor at the New York Stock Exchange, June 5, 2019. Brendan McDermid | Reuters Energy stocks, one of the worst-performing sectors this year, spiked on Monday after an attack on Saudi Arabia’s heart of oil production Saturday sent oil prices soaring. The S&P Oil & Gas Production ETF jumped more than
Smoke is seen following a fire at Aramco facility in the eastern city of Abqaiq, Saudi Arabia, September 14, 2019. Stringer | Reuters Oil prices jumped more than 10% after a coordinated drone attack hit the heart of Saudi Arabia’s oil industry on Saturday, forcing the kingdom to cut its oil output in half. U.S.
Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange. Drew Angerer | Getty Images U.S. stock futures dropped on Sunday night amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth. Dow Jones Industrial Average
SoFi Stadium conceptualization Rachel Reichblum | SoFi Financial technology start-up Social Finance is putting its name on the most expensive NFL stadium ever built. The company announced a 20-year deal on Sunday to call the new Los Angeles football compound “SoFi Stadium.” The 3-million-square-foot arena, which will be home to both the Rams and the
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Boeing. Chris Verrone was a buyer of JPMorgan. Brian Kelly was a buyer of the Gold Miners ETF. Guy Adami was a buyer of Exxon Mobil. Disclosure Trader disclosure: Chris Verrone is long BAC, DBX, GILD, QD, SMAR,
A trader wipes his eyes as he watches stock prices at the New York Stock Exchange in New York. Don Emmert | AFP | Getty Images Oil prices could jump as much as $10 per barrel after a number of drone strikes hit the center of Saudi Arabia’s oil industry, reportedly forcing the kingdom to