A rally that kicked off in June has boosted oil prices to the highest closing levels in more than three years. The oil price downturn is now 3½ years old, but it didn’t gather devastating momentum until OPEC’s fateful Thanksgiving day meeting in 2014. During that meeting, Saudi Arabia, OPEC’s […]
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Report Chinese could stop Treasury buying seen as political but hits raw nerve
A threat by unnamed Chinese officials to stop or slow U.S. Treasury buying is being taken somewhat seriously by the bond market and is seen as a potential political message to Washington. Bloomberg Wednesday reported that senior officials reviewing China’s foreign currency holdings had recommended slowing or halting purchases of […]
The Fed is worried about what it will do in the next recession and is considering dramatic changes
Even while the economy and markets are booming, Federal Reserve officials are worrying about how they’ll respond to the next recession, and they don’t especially like the picture they see. It’s one where the economy starts contracting but the Fed, still at a low interest rate, has little ability to […]
Kodak shares have more than tripled since company announced its new cryptocurrency ‘KodakCoin’
Investors really love Eastman Kodak‘s makeover. One day after the 130-year-old industrial company announced plans for its own cryptocurrency, shares are soaring 72 percent. KodakCoin will roll out after an initial coin offering later this month, Kodak said on Tuesday. Blockchain, the technology underpinning popular digital currencies like bitcoin, is […]
This bull market is more powerful than the late 1990s, Ralph Acampora says
The godfather of technical analysis is a raging bull, and he’s becoming even more vocal about it. Last week, Ralph Acampora said he was so bullish he had to sit down and calm down. “I’m not sitting in a chair anymore. I’m sitting in a rocking chair,” he told CNBC’s […]
If you want to buy Tesla stock, ‘now’s the time,’ Evercore says
Tesla shares are seeing a strong start to the year, and some market watchers expect further gains. The stock fell in Tuesday trading, just one session after surging over 6 percent — its best day since September. Although the stock is still off 14 percent from its all-time high, now […]
Three charts are creating the perfect storm for more records, says technician
It’s been the best start to the year since 2006 for the S&P 500 and Nasdaq, with new records and five days of gains already on the books. That winning streak, an extension of a killer 2017, is set to continue, according to one market bull. “We’re seeing something this […]
Under Armour is killing its brand by selling at cheap retailers, stock to drop 30% this year: Analyst
Shares of Under Armour fell more than 4 percent in premarket trading Tuesday after one Wall Street firm downgraded the company to negative. Despite a 30 percent rally in the past eight weeks, the athletic clothing maker will reverse course and lose all of those gains over the next year, […]
PayPal rises after previously skeptical analyst jumps on the bandwagon
Shares of PayPal ticked 1 percent higher before the bell Tuesday after research firm Cowen decided to jump on the payments platform’s bandwagon. Analyst George Mihalos upgraded the stock to outperform from market perform and hiked his price target on the shares to $88 from $67. The new price target […]
Skeptical analyst jumps on the PayPal bandwagon
Research firm Cowen has decided to join the party at PayPal. Analyst George Mihalos upgraded the stock on Tuesday to outperform from market perform and hiked his price target on the shares to $88 from $67. The new price target represents 11 percent upside. In a note to clients, Mihalos […]