As equity markets hover just below all-time highs and volatility remains fairly muted, a key economic indicator is skidding to its lowest level since the global financial crisis. The benchmark yield curve, the spread between the 10- and 2-year Treasury yields, flattened to a fresh decade low on Wednesday. The […]
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The selling finally stops in GE as shares rebound after 12% two-day dive
Maybe the worst has passed for General Electric after the company dropped more than 12 percent in two days and saw its worst trading day since 2009. The company rebounded above $18 a share Wednesday after falling as low as $17.50 earlier in the session. The trouble started Monday after […]
Amazon set for ‘record-breaking’ holiday season with nearly half of online sales: Analyst
Almost half of all online shopping will be on Amazon.com this holiday season, cementing Jeff Bezos’s commercial grip over one of the most important seasons, according to one analyst. SunTrust Robinson Humphrey said Amazon’s ever-broadening product selection and the popular shift toward online shopping will lead to big profit for […]
Three stocks to buy on recent weakness: Technician
As market volatility increases, Rich Ross of Evercore ISI has three stocks to buy on the dip. The Dow, S&P 500 and Nasdaq opened lower for the sixth straight session on Wednesday, as the S&P tracks for its worst day in nearly three months. “When volatility picks up in the […]
Bitcoin jumps more than 9% after news Square is testing the digital currency
Bitcoin has again recovered quickly from a sharp drop. The digital currency briefly surged more than 9 percent Wednesday to a high of $7,251.81, according to CoinDesk. That’s within 10 percent of its record high of $7,879.06 hit last Wednesday. Bitcoin had fallen 30 percent below that record over the […]
A lightning fast rally in oil prices is reversing. Here’s why
A downbeat outlook for oil demand from a top energy watchdog and fears of rising U.S. output sparked a sell-off in crude futures this week, but analysts say the market was already poised for a pullback. International benchmark Brent and U.S. West Texas Intermediate crude have both shed about $3 […]
Wall Street’s new bitcoin play: Square rises after saying it’s testing support of the cryptocurrency
Traders have another potential stock play on bitcoin: Square. Jack Dorsey‘s company is testing support for bitcoin through its Cash payments app. “We’re exploring how Square can make this experience faster and easier, and have rolled out this feature to a small number of Cash app customers,” a Square spokesperson […]
Buffett adds to Apple stake, bails further on IBM
Warren Buffett‘s Berkshire Hathaway bought more Apple shares before their latest jump to all-time highs. Berkshire also cut its stake in IBM by 32 percent, or 17.06 million shares, in the third quarter, according to a required quarterly filing with the U.S. Securities and Exchange Commission released Tuesday. The stock […]
There’s trouble brewing in the charts for one Dow stock: Trader
Goldman Sachs has lagged the broader market this year, and Todd Gordon of TradingAnalysis.com says the charts are giving off warning signs of an even bigger drop ahead. Shares of the big bank have fallen nearly 1 percent in 2017, significantly underperforming the S&P 500, Dow and XLF financial ETF, […]
Millennials lose taste for dining out, get blamed for puzzling restaurant trend
Restaurant sales growth has been slowing at a puzzling pace usually seen in a much weaker or even recessionary economy. Bank of America Merrill Lynch economists say millennials are to blame. Ahead of Wednesday’s government retail sales report, the economists studied restaurant sales, which have seen a steady decline in […]