Directors sitting in corporate boardrooms got a pay raise twice that of the average American worker, and it’s not even a full-time job. From fiscal 2012 to 2016, the median annual compensation for board members rose 19.5 percent, to $245,000, corporate board data company Equilar said Wednesday. The study analyzed […]
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Trader makes $4 million bet on major pullback for financials
The financials have been on fire, but one trader is making a more than $4 million bet that the run is done. The financials ETF, XLF, has rallied 13 percent this year with 5 percent of those gains in the past month alone. According to Dan Nathan of RiskReversal.com, sentiment […]
Bond market flashing warning sign even as stocks rally to new highs
The bond market is warning that trouble could be on the horizon, either from an economic slowdown or an eventual recession. The yield curve, a set of interest rates watched closely by bond market pros, has gotten to its flattest level since before the financial crisis. The spread between 2-year […]
Bitcoin plunges nearly 9% on fears of greater oversight from US regulators
Bitcoin tanked Wednesday after indications of greater scrutiny from U.S. regulators. The digital currency fell nearly $500 at one point, or about 8.7 percent to a low of $5,109.70, before regaining some of the lost ground, according to CoinDesk. The day’s low marked the digital currency’s lowest level since Thursday, […]
Iraq oil shipments to Turkey reportedly plunge after standoff with Kurds
Oil flows through Iraqi Kurdistan to Turkey have reportedly plunged this week after Iraq’s army seized oil fields held by the Kurds since 2014. The cause of the decline was not immediately clear, but the drop follows reports of production disruptions as major oil fields changed from Kurdish to central […]
Cramer’s charts point to more downside for consumer goods stocks—and that’s a good thing
With the indexes breaking records, including the Dow Jones industrial average’s all-time high on Tuesday, CNBC’s Jim Cramer wanted to pause and investigate what’s not working in this market. “Even if the greatest bull run in ages is going on, there are losers and there are laggards, and they help […]
Mexican Peso, Canadian dollar do about-face, rise on new hopes for NAFTA deal
The Canadian dollar and Mexican peso reversed losses and jumped against the dollar after trade officials said they were extending the negotiations towards a new NAFTA trade deal into next year. The two currencies slipped against the greenback earlier in the day, amid reports that Canada and Mexico would not […]
This index is ‘ripe for a trade’
The small-cap rally is far from done, says Todd Gordon of TradingAnalysis.com, who argues that the charts point to even more gains for the group tracked by the Russell 2000. “The Russell has been rallying sharply based on anticipated domestic policies that might be put through, namely tax reform, which […]
Exxon Mobil fires up huge new Texas plant just two months after Harvey hit the Gulf Coast
Exxon Mobil on Tuesday began production at a new petrochemical facility in Mont Belvieu, Texas, just two months after Hurricane Harvey pummeled the U.S. Gulf Coast and hobbled the U.S. refining and specialty chemicals hub. The new first of two lines turning out polyethylene — the most common plastic used […]
PG&E shares spike after suspected wildfires arsonist is arrested in Northern California
Shares of California utility PG&E rose 7.51 percent Tuesday on word about a suspected arsonist arrested in Sonoma County. California’s largest electric utility company has seen its stock drop nearly 18 percent since Oct. 9 amid concerns it could be found liable for the fires that have ravaged Northern California. […]