Energy stocks have soared this month, and Todd Gordon, a technician and founder of TradingAnalysis.com, says an even bigger rally is in store for the sector. The XLE energy-tracking ETF is up almost 7 percent in December, with energy stocks also getting a boost Tuesday as oil rallied to hit […]
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Store closures rocked retail in 2017. Now 2018 is set to bring another round of them
A larger-than-average slew of retail bankruptcies and stores being shuttered rocked the industry this year, making headlines and dragging even some of the better-performing companies such as Home Depot, TJ Maxx and Costco down with the dismal news. So far in 2017, 6,985 store closure announcements have been made, according […]
Elon Musk asked his Twitter followers for Tesla feedback – here’s what they said
Tesla CEO Elon Musk asked his 17.1 million Twitter followers for feedback Tuesday, saying he wants to know how the auto and power company “can improve further.” Musk unveiled the Tesla Semi and a second-generation roadster in November, with the former receiving hundreds of reservations from companies like PepsiCo, WalMart […]
Oil prices are spiking to mid-2015 highs after a Libyan pipeline blast
Oil prices surged to more than 2½-year highs Tuesday on reports that a pipeline explosion in Libya has disrupted a big chunk of the country’s crude supply. International benchmark Brent crude rose $1.50, or 2.3 percent, to $66.75, after hitting an intraday peak of $66.89, its highest level since May […]
US crude hits $60 a barrel for the first time since June 2015
Oil prices surged to more than 2½-year highs Tuesday on reports that a pipeline explosion in Libya has disrupted a big chunk of the country’s crude supply. International benchmark Brent crude rose $1.81, or 2.8 percent, to $67.06, after hitting an intraday peak of $67.10, its highest level since May […]
Bitcoin climbs back above $16,000, rallying more than 50 percent from Friday’s low
Bitcoin rallied Tuesday, recovering from a sharp sell-off late last week. The digital currency briefly climbed more than 12.5 percent to above $16,100 late Tuesday morning, according to Coinbase, the leading U.S. platform for trading major digital currencies. With Tuesday’s gains, bitcoin has now recovered more than 50 percent from […]
Bitcoin struggles to hold above $16,000; crypto marketplace Coinbase reports transaction delays
Bitcoin rallied Tuesday, recovering from a sharp sell-off late last week. The digital currency briefly climbed more than 12.5 percent to above $16,100 late Tuesday morning and was trading near $15,965 late in the afternoon, according to Coinbase, the leading U.S. platform for trading major digital currencies. However, Coinbase said […]
Fundstrat’s Tom Lee says he’s a buyer of the bitcoin pullback, sees more than 35% gains from here
The only major Wall Street strategist to formally cover bitcoin raised his price target on the digital currency the day of a massive price rout. “We are buyers of bitcoin on this pullback,” Fundstrat co-founder Tom Lee said in a Friday note. “The intrinsic/fundamental value of bitcoin has risen in […]
Four Dow stocks, including Walmart, are trading at extremes
A handful of Dow stocks are trading well above their 200-day moving averages. Despite trading at relatively extreme levels, some investors still see them as buys. Shares of Walmart, Intel, Caterpillar and Boeing are respectively trading 22 percent, 24 percent, 32 percent and 33 percent above their 200-day moving averages. […]
Investors yank billions out of market following Trump’s tax bill win
As Congress moved the tax bill forward, investors pulled the highest amount out of equities funds in more than three years, suggesting some investors may see “tax cuts” as already priced in. According to Bank of America Merrill Lynch, redemptions from equities funds and ETFs totaled $14.5 billion, the fourth […]