Fundstrat’s Tom Lee predicts the market will have another double-digit percentage gain this year. “We are constructive on stocks in 2018, driven by earnings growth of +13% and slight P/E expansion, supported by strong global growth (tempered by rising core inflation),” Lee wrote in a note to clients Thursday. Lee […]
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Trump says he wishes US would use hydropower. It already does
President Donald Trump said Wednesday he would like to see the United States turn to hydroelectric power to help meet its energy needs. In fact, the nation already taps the renewable energy source for a significant share of its electric power needs. The subject of hydropower came up in a […]
Hershey ‘falling out of the sweet spot’ as customers opt for healthier food: Analyst
Chocolatier Hershey is “falling out of the sweet spot” as people continue to shift toward healthier snacks, according to one Wall Street firm. Morgan Stanley lowered its rating on Hershey shares to underweight, saying that lagging demand for confectionary foods – and snacks as a whole – could mean a […]
The global market is doing something it’s never done before
Stocks around the world are surging, and just passed an incredible milestone. The MSCI World Index has gone 19 straight months without a 5 percent pullback, its longest on record. The group had its best returns since 2013 last year, thanks largely to a record-breaking stretch in U.S. equities that […]
Canadian dollar, stocks fall on report that Trump may pull out of NAFTA; peso drops
The Canadian dollar and the country’s stocks fell on Wednesday on the back of a report that says President Donald Trump could pull the U.S. out of NAFTA. The Mexican peso also fell. The loonie fell to trade down 0.8 percent against its U.S. counterpart. The iShares MSCI Canada exchange-traded […]
How to make bitcoin-like returns without as much risk
The cryptocurrency craze has swept the market over the last year, bringing to light the theme of speculative investing. As the price of bitcoin has risen more than 1,550 percent in the last 12 months, investors have been flocking to it and other various digital currencies in a chase for […]
Oil prices are close to levels not seen since the Thanksgiving 2014 bloodbath
A rally that kicked off in June has boosted oil prices to the highest closing levels in more than three years. The oil price downturn is now 3½ years old, but it didn’t gather devastating momentum until OPEC’s fateful Thanksgiving day meeting in 2014. During that meeting, Saudi Arabia, OPEC’s […]
Report Chinese could stop Treasury buying seen as political but hits raw nerve
A threat by unnamed Chinese officials to stop or slow U.S. Treasury buying is being taken somewhat seriously by the bond market and is seen as a potential political message to Washington. Bloomberg Wednesday reported that senior officials reviewing China’s foreign currency holdings had recommended slowing or halting purchases of […]
The Fed is worried about what it will do in the next recession and is considering dramatic changes
Even while the economy and markets are booming, Federal Reserve officials are worrying about how they’ll respond to the next recession, and they don’t especially like the picture they see. It’s one where the economy starts contracting but the Fed, still at a low interest rate, has little ability to […]
Kodak shares have more than tripled since company announced its new cryptocurrency ‘KodakCoin’
Investors really love Eastman Kodak‘s makeover. One day after the 130-year-old industrial company announced plans for its own cryptocurrency, shares are soaring 72 percent. KodakCoin will roll out after an initial coin offering later this month, Kodak said on Tuesday. Blockchain, the technology underpinning popular digital currencies like bitcoin, is […]