The stock market declined rapidly after a report former national security adviser Michael Flynn was directed by President Donald Trump to talk to Russians. Here’s where to hide if the developments put the Trump economic agenda that the market has cheered at risk. ABC News cited an unidentified confidant as […]
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Gold, other safe haven trades surge as investors fear Trump economic agenda in jeopardy
Safe haven assets jumped Friday after ABC News reported former national security advisor Michael Flynn would testify he was directed by President Donald Trump to talk to the Russians. The report raised worries that Trump would not be able to enact highly anticipated proposals such as tax reform that traders […]
Oil prices are spiking toward 2-1/2-year highs after OPEC extends output cuts
Oil prices spiked higher on Friday, heading toward 2½-year highs the morning after two dozen crude-producing nations agreed to limit their output through the end of 2018. U.S. West Texas Intermediate crude prices rocketed up 98 cents per barrel, or 1.7 percent, to $58.38 by 11:15 a.m. ET. That put […]
Dow stock Caterpillar and two others could propel the index to 25,000
Now that the Dow has blown past 24,000, Evercore ISI’s Rich Ross has three stocks that could take the index to 25K. The DJIA on Thursday posted its second best day of 2017, and has now seen eight-straight months of gains, something the Dow has not done since 1995. “I’ve […]
Apple is in for a 10% year-end rally, charts suggest
Apple shares have fallen more than 2 percent from its recent high, but one would be wise to buy the dip, says Todd Gordon of TradingAnalysis.com According to Gordon, Apple has actually fallen into a “corrective support,” where the stock is sitting in the middle of an uptrend parallel channel, […]
Stocks could get a big boost in December, especially during the second half
Wall Street could get a big Santa Claus rally in December, especially in the second half of the month, history shows. The Dow Jones industrial average, S&P 500, Nasdaq 100 and Russell 2000 all averaged returns of at least 1.8 percent in the final month of the year since 1987, […]
Bitcoin is already dwarfing some of the largest financial market bubbles of all time
Bitcoin already has the look of one of the biggest financial market bubbles of all time. Source: Birinyi Associates If bitcoin is indeed a cryptocurrency bubble, it’s already much larger than the Nasdaq in the late 1990s, the Dow in the roaring 1920s, and silver in the late 1970s. Birinyi […]
HCA Healthcare shares surge after JPMorgan singles it out as tax cut play
Shares of HCA Healthcare surged more than 6 percent Thursday after JPMorgan research concluded that the company would “disproportionately benefit” from the Republican tax plan. Should the GOP muster enough congressional support to lower the corporate tax rate to 20 percent as planned, JPMorgan analyst Gary Taylor believes HCA Healthcare […]
Buy FedEx for the long haul because of ‘generational shift’ to e-commerce, Barclays says
Delivering packages by rocket and developments in blockchain technology may be the future of shipping but the latest bullish case for FedEx looks at a different industry transformation: e-commerce. “A generational shift to ecommerce shipments, solid global trade prospects, management’s incremental focus on improving returns and a cheap valuation make […]
Bitcoin plunges 20% from its high
It’s been a wild ride for bitcoin traders. From Wednesday’s high of $11,363.99, bitcoin has fallen to a low of $9,021.85, a 20.6 percent drop. The crypotocurrency is in a period of extreme volatility after a strong showing over the Thanksgiving holiday weekend, when it set multiple all-time records. Bitcoin […]