U.S. employers hired significantly more people in October than last year but only slightly more than in September, according to the LinkedIn Workforce Report. Hiring across the U.S. was 24.1 percent higher last month than a year earlier, the data showed. The seasonally adjusted hiring figure was just 0.3 percent […]
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Apple passes $900 billion in market cap but strategist says it’s a ‘screaming sell’
Shares of Apple rallied after hours Thursday following an earnings beat for the tech giant, but that’s not stopping one strategist from hitting the sell button on the stock. Despite Apple’s 45 percent surge this year and high demand for the iPhone X, Larry McDonald, head of U.S. macro strategies […]
One chart shows why financials may be set to surge
It’s been a frustrating year for investors in bank stocks as interest rates have remained stubbornly low. But according to one widely followed chart watcher, that may soon change. “There are too many bulls on bonds,” Ari Wald, head of technical analysis at Oppenheimer, said Wednesday on CNBC’s “Trading Nation.” […]
Investors haven’t been this bullish since Reagan was in office, and that could be great for stocks
By one measure, investors are the most optimistic they’ve been in 30 years, and that could be a bullish sign of what’s to come for the markets. The Investors Intelligence bull/bear ratio, which measures the level of optimism in the markets, has reached its highest level since 1987 as the […]
Republicans say you can file your taxes with a postcard if new bill passes; H&R Block shares drop
The new tax bill unveiled by House Republicans Thursday is so simple that taxpayers will be able to file using a postcard, according to GOP lawmakers. “This is a complete redesign of the code, so we can simplify it so much that 9 out of 10 Americans can file using […]
Tax reform plan cuts mortgage interest deduction in half
America’s popular mortgage interest deduction is about to lose a lot of its punch. The House Republican tax plan halves the cap on the deduction of mortgage debt for newly purchased homes to $500,000. It does, however, maintain the current deduction of up to $1 million in mortgage debt for […]
US crude oil fails to take out 2017 high as a ‘cruel’ month for energy market begins
U.S. crude prices retreated after coming within striking distance of their 2017 high on Wednesday, raising questions about whether a rally that started in June has reached its peak. On the one hand, the trend of future oil prices suggests that a prolonged global glut of crude is coming to […]
The charts point to big breakout for one of this year’s hottest tech stocks
Shares of Activision Blizzard have soared 81 percent this year, and Oppenheimer technician Ari Wald says the stock’s about to fly even higher. “Activision is a high momentum stock and it does warrant a buy rating in our work,” he said Wednesday on CNBC’s “Power Lunch.” “The thing with these […]
3.5% economic growth is possible with GOP tax cuts, says House Financial Services chair
The House Republican tax reform bill that’s being unveiled on Thursday morning could boost long-term economic growth above the Trump administration’s goal, said retiring Rep. Jeb Hensarling. President Donald Trump, while talking about growth as high as 4 percent on the campaign trail, has been focusing lately on sustained gross […]
Crude oil’s ‘golden cross’ could point to big gains ahead
A classic technical gauge may be pointing to further gains for crude oil. West Texas Intermediate crude oil just posted a “golden cross,” a technical formation that occurs when an asset’s shorter-term moving average crosses over its longer-term moving average. In this case, crude oil’s 50-day moving average crossed over […]