U.S. crude prices retreated after coming within striking distance of their 2017 high on Wednesday, raising questions about whether a rally that started in June has reached its peak. On the one hand, the trend of future oil prices suggests that a prolonged global glut of crude is coming to […]
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The charts point to big breakout for one of this year’s hottest tech stocks
Shares of Activision Blizzard have soared 81 percent this year, and Oppenheimer technician Ari Wald says the stock’s about to fly even higher. “Activision is a high momentum stock and it does warrant a buy rating in our work,” he said Wednesday on CNBC’s “Power Lunch.” “The thing with these […]
3.5% economic growth is possible with GOP tax cuts, says House Financial Services chair
The House Republican tax reform bill that’s being unveiled on Thursday morning could boost long-term economic growth above the Trump administration’s goal, said retiring Rep. Jeb Hensarling. President Donald Trump, while talking about growth as high as 4 percent on the campaign trail, has been focusing lately on sustained gross […]
Crude oil’s ‘golden cross’ could point to big gains ahead
A classic technical gauge may be pointing to further gains for crude oil. West Texas Intermediate crude oil just posted a “golden cross,” a technical formation that occurs when an asset’s shorter-term moving average crosses over its longer-term moving average. In this case, crude oil’s 50-day moving average crossed over […]
China is making progress on only one of 10 reform goals, five years of data show
China has made little progress on economic reform goals it laid out in 2013. Out of 10 areas, Beijing has only made progress in one: increasing innovation. China is not reducing its economic reliance on state-owned enterprises or improving wages for migrant laborers. That’s the finding of analysis using a […]
TipRanks: Here are 7 top ‘strong buy’ stocks from the best-performing analysts
TipRanks, a service that ranks Wall Street analysts, identified the top analysts and found which stocks they like right now. We use a natural language processing algorithm to rank analysts based on two factors: Average return of buy-sell recommendations Success rate of buy-sell recommendations. TipRanks’ stock screener allows you to […]
Space companies are receiving billions from venture backers, report says
Money is pouring into space. According to a report on Wednesday from investment firm Space Angels, more than $2 billion of private capital has been invested in space industry companies this year. Venture backers are following the lead of tech entrepreneurs Elon Musk, Richard Branson and Jeff Bezos, who are […]
The retail wreck is far from over, but there is one name you can still buy
October was the worst month for the retail space since January 2014 and from a chart perspective, Piper Jaffray technician Craig Johnson says the group is a no touch for investors. “When you look at that XRT chart, you’ll see that it looks like a multiyear head and shoulders top, […]
Stock market could ‘melt up’ into year-end
Who needs a Santa rally to boost year-end gains, when the momentum is already this strong? Technicians are virtually crowing about the so-called seasonal setup for stocks this year. Seasonality describes predictable market behavior based on time of year. The rule of thumb is May to October is the weakest […]
Ex-Obama Treasury secretary: We left a ‘pretty strong’ economy, but it won’t grow at Trump’s 3% goal
The potential for sustained U.S. economic growth is certainly “north of 2 percent,” but not the 3 percent that President Donald Trump believes is possible with the implementation of his policy agenda, former Obama Treasury Secretary Jack Lew told CNBC on Wednesday. “We left the economy in pretty strong shape,” […]