The recent stock market pullback resulted more from overvalued technology stocks than it did from worries over President Donald Trump‘s tariffs, White House economic advisor Larry Kudlow said Thursday. “I think a lot of the big, big tech stocks, the FANG stocks, got pretty toppy, and they were due for […]
CNBC News
The top 5 best states for the middle class are all in one part of the map
American middle-class families are making less money across the country. Since 1999, median incomes have dropped in all but two states. It’s no wonder, then, that earning and saving enough to afford a down payment on a home, or to retire, for example, is getting more difficult. “Many Americans in […]
Pfizer downgraded by BMO: ‘Significant headwinds’ will cap the drugmaker’s stock run
BMO Capital Markets downgraded Pfizer to market perform and told clients that the drugmaker faces “significant headwinds” in the next two years that will be marked by slower revenue and weaker multiple expansion. Analyst Alex Arfaei wrote in a note published Wednesday that until Pfizer can turn over its product […]
Republicans have held this House seat for about 50 years — now they may be on the verge of losing it
CULPEPER, Va. – Wearing a dress shirt emblazoned with a huge bald eagle and an American flag, Steve Mourning is the kind of voter that Republicans in this part of Virginia need more of this year: A fired-up conservative. Pulling up to a congressional debate here earlier this month, Mourning […]
Stocks making the biggest move premarket: DWDP, NFX, ECA, AAPL, CI & more
Check out the companies making headlines before the bell: DowDupont – The chemical maker beat estimates by 3 cents a share, with adjusted quarterly profit of 74 cents per share. Revenue was slightly below forecasts, however. Its results were helped by strength in its cosmetics, paints, and packaging products. The […]
Sri Lanka’s president to reconvene parliament as international pressure mounts
Sri Lanka’s President Maithripala Sirisena will reconvene parliament on Nov. 5, newly appointed Prime Minister Mahinda Rajapaksa said on Thursday, as international pressure builds to resolve a political crisis. Sirisena named the pro-China Rajapaksa as prime minister on Friday after abruptly dismissing the government of Ranil Wickremesinghe. Wickremesinghe has said […]
Banks are fighting through an ‘extinction phase’ spurred by new tech
Pedigrees, some stretching back centuries, are of little use to global banks unless they aggressively adapt to new financial technologies. That’s long been true, but the pace of innovation means financial juggernauts now face what one top executive likened to a mass extinction event. A revolution in financial technology — […]
India jumps higher in World Bank’s ranking of how easy it is to do business
India climbed 23 spots from a year ago to rank 77 out of 190 countries in the World Bank’s latest report on the ease of doing business. It was also among the top 10 most improved economies along with countries such as China, Djibouti and Azerbaijan, according to the “Doing […]
UK and EU reportedly agree to tentative Brexit deal on financial services
British Prime Minister Theresa May has struck a tentative deal with the European Union that would give UK financial services companies continued access to European markets after Brexit, The Times reported on Thursday. British and European negotiators have reached tentative agreement on all aspects of a future partnership on services, […]
A private survey shows China’s factory activity unexpectedly grows
Chinese factory activity expanded sightly in October despite an ongoing trade dispute with the U.S., a survey of small and medium-sized enterprises in China showed. On Thursday, Caixin and IHS Markit reported October Purchasing Managers’ index (PMI) was 50.1 for October, beating analysts’ expectations. Analysts polled by Reuters had expected […]