Soaring small business optimism is translating into big gains for larger, publicly traded companies as Main Street hopes for even more deregulation and hotly-anticipated tax reform, Goldman Sachs said. Shares of big companies that get their revenue from small businesses have rallied 38 percent since the election, while “the Russell […]
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There may be a ‘Game of Thrones’ in Saudi Arabia now and that has big implications for oil
The so-called corruption crackdown in Saudi Arabia over the weekend may be the beginning of a bigger power struggle by the heir apparent to the throne which destabilizes the region for a time and keeps oil prices elevated. Following the creation of an anti-corruption committee by current King Salman, security […]
How Marvel Studios took ‘Thor’ from zero to hero for his reckoning at ‘Ragnarok’
Thor’s battle with the goddess of death in “Thor: Ragnarok” looks poised to breathe new life into a franchise that has garnered lukewarm reviews and underwhelming ticket sales. The threequel marks the thunder god’s first standalone film since 2013’s moody “The Dark World” failed to excite critics and moviegoers. Disney […]
Traders are betting big on Valeant and Square before earnings next week
Next week will be another busy week for stocks with a slew of companies set to report earnings. Investors are making big bets on two key names, and they’re using options to play the upside potential. This week bulls bought calls in shares of both Square and Valeant. They believe […]
Largest US bitcoin exchange added 100,000 customers in one day after futures announcement
Investors rushed to open new accounts for buying and selling bitcoin after news that the world’s largest futures exchange plans to launch futures for the digital currency this year. About 100,000 new users joined Coinbase a day after the Tuesday announcement, according to public data compiled by Alistair Milne, co-founder […]
It’s begun: Fed’s unwinding of its epic balance sheet officially showing up in the data
The Fed’s campaign to reduce its $4.4 trillion balance sheet is now taking effect and showing up in the data. Thursday’s Federal Reserve report on its portfolio holdings shows a near $6 billion decline in its holdings of Treasury securities. It’s the biggest outright weekly decline since 2012. It’s just […]
Citigroup: Here are five reasons Apple will continue to continue to climb
As Apple shares soared to a new record after stellar earnings, Citigroup sees five more reasons why it believes the stock will trade even higher in the year to come. The company has had an amazing year thus far, adding 49 percent in stock value since January and launching one […]
First Wall Street strategist to embrace bitcoin is now ‘cautious’
The only major Wall Street strategist with an official price forecast for bitcoin turned “cautious” as the digital currency soared above $7,000 to record highs. We are “cautious short-term on bitcoin,” Fundstrat co-founder Tom Lee said in a Thursday report. He said bitcoin has gained far more than fundamentals warrant […]
Oil bear market may last another decade, with US crude stuck below $60 a barrel, Wells Fargo says
Bears are known for hibernating, but its the bulls in the oil market that might as well settle in for a long nap, according to Wells Fargo. The bank expects the current bear market for oil to last another five to 10 years, Wells Fargo Investment Institute analyst Austin Pickle […]
Here’s where the jobs are in one chart
The U.S. economy created 261,000 jobs in October as the economy rebounded from hurricane-related disruptions. But as always, there are industries that are doing better and worse in terms of employment each month. Here are the net changes by industry for the month of October. The leisure and hospitality industry […]