U.S. companies on balance already are paying well below the 20 percent tax level targeted in the Republican reform plan, according to an analysis by Yardeni Research. In fact, the typical effective tax rate — the amount paid minus deductions — could be as low as 13 percent over the […]
CNBC News
80% of Wall Street economists, strategists believe bitcoin is a bubble: Survey
Despite bitcoin‘s immense gain in popularity, Wall Street’s top economists and market strategists remain unconvinced. Eighty percent of respondents to the December CNBC Fed Survey said the current valuation of bitcoin is a bubble. Only 2 percent of respondents said the valuation is based on fundamentals, and 17 percent responded […]
Strategist Tom Lee: Young people will drive bitcoin gains just as boomers boosted stocks in the ’80s
Wall Street strategist Tom Lee sees significant gains ahead for bitcoin because young investors are interested in it. “I think what viewers have to appreciate is, this is a millennial story,” Fundstrat’s Lee said Tuesday on CNBC’s “Squawk Box.” “The average millennial is 25 today. The boomers were 25 in […]
Verizon will launch over-the-top service before year-end with NFL as key piece, analyst predicts
Verizon will leave its earnings “plateau” behind in 2018 thanks to an over-the-top platform launch by year’s end, according to Nomura. “After three years of stable to declining earnings per share – Verizon’s self-described ‘plateau’ – we think the company is finally poised to resume earnings per share growth,” wrote […]
Bitcoin futures fall on second day of trading on very low volume as interest wanes
Bitcoin futures fell in low volume Tuesday in their second day of trading on the Cboe Futures Exchange. Trading volume in the most popular contract, which expires in January, was less than half what it was the prior day at 471 as of 8:24 a.m., ET. Volume had already topped […]
Tax cuts and rate hikes are on the way, starting Wednesday, CNBC’s survey of Fed watchers finds
The new Federal Reserve boss will be the same as the old boss when it comes to monetary policy and President Donald Trump‘s tax cuts will pass and add half a point to growth. Those are among the findings of this month’s CNBC Fed Survey, coming at a time of […]
Shares of retailer-turned-bitcoin-play Overstock.com rocket higher after Morgan Stanley reveals stake
Shares of Overstock.com briefly surged more than 23 percent Monday after Morgan Stanley Investment Management disclosed an 11.4 percent stake in the company. The investment management division has $447 billion in assets under management and its products include mutual funds and hedge funds. The department said in a 13G filing […]
Brent crude oil hits 2½-year high on major pipeline outage
Brent crude oil prices spiked to the highest level in 2½ years on Monday on news that a major pipeline in the U.K.’s North Sea will shut down for repairs. The Forties pipeline system will close for several weeks while its operator, INEOS, repairs a crack in a pipe discovered […]
The charts are pointing to a Santa Claus rally for small caps
Small caps are lagging the broader market, but one technician says the charts are pointing to a potential Santa Claus rally for the group. As the Dow and S&P 500 just hit record closing highs, the Russell 2000 continues to underperform this year. While the Dow and S&P 500 have […]
Cramer: Bitcoin’s futures launch is a ‘very big victory’ for the digital currency
The launch of bitcoin futures on the Cboe Futures Exchange over the weekend was a “very big victory” for the digital currency, CNBC’s Jim Cramer said Monday. Bitcoin futures, trading under the ticker symbol XBT, debuted Sunday night on the Cboe. The futures price climbed 10 percent in the first […]