Financials just hit its highest level in over a decade, and Rich Ross of Evercore ISI has one surging name to buy. As the markets soared to record highs on Wednesday, the financial sector hit its highest level since Oct. 30, 2007. The move higher follows comments Tuesday by Jerome […]
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This chart shows that oil could be headed to $80, and here’s how to trade it
Crude oil prices are under pressure, but Todd Gordon of TradingAnalysis.com says the charts are pointing to a massive rally for the commodity. Gordon is standing by his call that the market is starting to see signs of inflation. He also said the Federal Reserve won’t significantly tighten monetary policy. […]
Bitcoin surges through $11,000 less than 24 hours after topping $10,000
The Bitcoin rally is accelerating. The digital currency spiked through $11,000 Wednesday morning, hours after surpassing the $10,000 level for the first time. Bitcoin traded at an all-time high of $11,155.20 at around 9:00 a.m. ET, according to industry site CoinDesk. By 9:16 a.m., bitcoin had leaped all the way […]
Allergan shares jump after Morgan Stanley says fears of a ‘better Botox’ are overdone
Shares of Allergan jumped more than 2 percent Wednesday after analysts at Morgan Stanley downplayed concern over competitive pressure for its key product, Botox. “Fears about a ‘better Botox’ may be overdone,” said analyst David Risinger in a note to clients. He noted that it “could be difficult” for competitor […]
Chinese stocks are beginning to show ‘cracks.’ Here’s what it means
China’s stock market has been steadily rising all year, but according to one technician the charts are beginning to show signs of weakness. The index has declined a little more than 2 percent in the past week, and is showing “a few cracks” after a solid monthslong upward trend, said […]
Investors should worry about war between Israel and Iran, warns Pulitzer Prize-winner Tom Friedman
Investors should be concerned about a potential war between Israel and Iran that could spread far beyond the Israeli border, Pulitzer Prize-winning columnist Thomas Friedman said on Tuesday. “From an investor point of view, if I’m ranking my event risk, North Korea is No. 1, but Iran versus … Israel […]
Bitcoin is still not big enough to destabilize an economy, Fed nominee Powell says
A fall in cryptocurrencies wouldn’t be enough to destabilize an economy, Federal Reserve chair nominee Jerome Powell said Tuesday. “They don’t really matter today; they’re just not big enough. There isn’t close enough volume to matter,” Powell told the Senate Banking Committee at his confirmation hearing for the central bank’s […]
Small cap stocks could see a very volatile week
The small-cap Russell 2000 is coming into focus for one equity strategist this week as the Senate is expected to debate the proposed tax reform bill. Matt Maley, equity strategist at Miller Tabak, will be watching the small-cap index because it is particularly sensitive to the ebbs and flows of […]
Oil prices will probably sell off after a key meeting of big producers. Here’s why
Market watchers see few opportunities for oil prices to rally — but plenty of room for them to fall — after a critical meeting of energy ministers later this week. About two dozen oil exporters, including top producers Saudi Arabia and Russia, meet on Thursday in Vienna to discuss extending […]
Bitcoin could ‘easily’ reach $40,000 by the end of 2018, hedge fund legend Novogratz says
Former Fortress hedge fund manager Michael Novogratz said Monday that bitcoin can multiply more than four times in roughly the next 13 months. “Bitcoin could be at $40,000 at the end of 2018. It easily could,” Michael Novogratz said Monday on CNBC’s “Fast Money.” “Ethereum, which I think just touched […]