President Donald Trump and the Republican Congress will likely pass tax reform in the near future. Wall Street analysts have been hard at work giving clients ways to play this big moment for the markets. House and Senate negotiators have reached a deal on a tax plan, moving the GOP […]
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Wall Street analysts are missing the mark on some red-hot chip stocks
Analysts are overshooting their expectations for four major semiconductor stocks. According to FactSet data, Advanced Micro Devices, Western Digital, Micron and Applied Materials are among the top S&P 500 stocks trading at the largest discounts to their average price targets. Those stocks are currently sitting a respective 42, 35, 31 […]
Stock market history shows 2018 could be just as forecast — small gains with a correction
Stocks look set for further gains, but there’s good reason to believe 2018 will bring a full-throttle correction (10 percent decline), after this year’s shallow sell-off and low volatility. Strategists surveyed by CNBC expect a median gain of about 5 percent for 2018, for the S&P 500, and many expect […]
White House pitches millennials on tax bill, saying they’ll be more prosperous under Trump than Obama
Republican tax reform will play a major part in driving sustained U.S. economic growth above 3 percent, White House budget director Mick Mulvaney predicted Thursday on CNBC. In arguing that baseline and taking a swipe at former President Barack Obama, Mulvaney made a pointed pitch to millennials that the Trump […]
Twitter shares soar to highest level since October 2016
Shares of Twitter gained 7.3 percent on Thursday, reaching their highest level in more than a year. The social media’s stock hit $23.24, its highest level since Oct. 5, 2016, when it traded as high as $25.25 a share. It traded at $22.71 at 11:16 a.m. New York time. Jonathan […]
Overstock.com CEO aims to sell or reorganize e-commerce business so he can focus on blockchain
Overstock.com CEO Patrick Byrne said he expects to have a deal in the next three months on selling or reorganizing the company’s retail business to focus on blockchain, the technology behind bitcoin. “My goal is [within] 60 to 90 days we walk away from this,” Byrne told CNBC Wednesday. He […]
Bitcoin may now be the biggest financial bubble of all time
Bitcoin is now sizing up to be what could be the biggest market bubble of all time. According to Birinyi Associates, bitcoin now looks to be bigger than any of the 10 other market bubbles it studied including the the tech bubble, beanie babies, the Dow in 1929 and the […]
3 ETFs are testing key levels, and they could be about to break out
Three big sector ETFs — energy, health care and tech — are testing key levels, according to one technician who believes all three could be on the verge of a breakout. The first is the energy-tracking ETF, the XLE, which has rallied about 5 percent in the past three months […]
‘Star Wars’ and the Fox deal could be the ‘shot in the arm’ Disney needs to surge
Disney shares could see a boost on the heels of the reported deal between the company and Twenty-First Century Fox as well as the release of the newest “Star Wars” film, some strategists say. The deal between the two companies — which sources told CNBC would value Fox assets at […]
Oil and gas fracking connected to low birth weights in infants, landmark study finds
Pregnant mothers who live near shale oil and gas fracking face an elevated risk of giving birth to babies with health problems, according to a landmark study. The finding comes as U.S. oil production is approaching all-time highs, driven by growth from U.S. shale fields. Producers in these areas use […]