As Apple shares soared to a new record after stellar earnings, Citigroup sees five more reasons why it believes the stock will trade even higher in the year to come. The company has had an amazing year thus far, adding 49 percent in stock value since January and launching one […]
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First Wall Street strategist to embrace bitcoin is now ‘cautious’
The only major Wall Street strategist with an official price forecast for bitcoin turned “cautious” as the digital currency soared above $7,000 to record highs. We are “cautious short-term on bitcoin,” Fundstrat co-founder Tom Lee said in a Thursday report. He said bitcoin has gained far more than fundamentals warrant […]
Oil bear market may last another decade, with US crude stuck below $60 a barrel, Wells Fargo says
Bears are known for hibernating, but its the bulls in the oil market that might as well settle in for a long nap, according to Wells Fargo. The bank expects the current bear market for oil to last another five to 10 years, Wells Fargo Investment Institute analyst Austin Pickle […]
Here’s where the jobs are in one chart
The U.S. economy created 261,000 jobs in October as the economy rebounded from hurricane-related disruptions. But as always, there are industries that are doing better and worse in terms of employment each month. Here are the net changes by industry for the month of October. The leisure and hospitality industry […]
LinkedIn report shows a 24% increase in October hiring
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 […]
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 […]