The British pound erased earlier losses against the dollar on Thursday after a German newspaper Handelsblatt reported the United Kingdom could stay in the European Union for another two years. Sterling traded 0.42 percent higher at $1.3276 versus the greenback. “This maybe eases the tensions in the negotiations and gives […]
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Stocks will be just fine even if tax reform doesn’t go through, Credit Suisse says
Contrary to popular belief, stocks haven’t really risen on the prospect of tax cuts and they may not see a big bounce higher if Congress ultimately approves tax cuts, according to Credit Suisse. Even President Donald Trump tweeted this week that he needs Congress to approve taxbreaks and reform to […]
Hacked again? Equifax shares drop after possible new cyberbreach
Equifax shares dropped as much as 3.5 percent Thursday after it said it has disabled one of its customer help online pages and is investigating another possible cyberbreach. The consumer credit reporting company said its security teams are looking into another possible breach barely one month after it disclosed a […]
This Dow stock just entered into a ‘death cross’
Shares of Nike just entered into a technical crossover that has some worried about further downside for the stock. On Wednesday, Nike moved into a “death cross,” an indicator in the charts that occurs when a stock’s 50-day moving average breaks below its 200-day moving average. In other words, Nike […]
Citigroup earnings beat Wall Street estimates as consumer business shows growth
Citigroup reported better-than-expected quarterly results on Thursday, as its global consumer business showed further revenue growth. Here’s how the banking giant’s results fared against Wall Street estimates: EPS: $1.42 vs $1.32 expected by a Thomson Reuters survey Revenue: $18.173 billion vs $17.896 billion expected Fixed income trading: $2.877 billion vs […]
This earnings season should be a good one for stocks, if history is any guide
The earnings season for the third quarter, which just got underway this week, is usually the best one for investors, history shows. Using hedge fund analytics tool Kensho, CNBC analyzed 19 years of historical trends around each of the four annual earnings seasons. One month after the start of the […]
President Trump says he drove huge market rally but needs big tax break to keep it going
Since President Donald Trump was elected the S&P 500 is up 19.21 percent, and he says it can go much higher if Congress approves “massive tax cuts.” Trump tweeted Wednesday that the stock market has risen more than $5 trillion since his election and the “Fake News Media” has not […]
This chart shows we are entering the next rate supercycle: Louise Yamada
Bond yields are hovering near their July highs, and technical analyst Louise Yamada says the charts are suggesting a rally in rates is signaling the beginning of a new cycle. “I think the two-year yield has actually been telling us that interest rates are on their way for a reversal […]
Lyft has now delivered half a billion rides
Lyft has delivered its 500 millionth ride — a milestone that speaks to the company’s growth this year. To put it in perspective, Uber celebrated its 5 billionth ride earlier this year, but it operates in nearly 85 countries. Lyft operates only in the US and has been making significant […]
The moment stock pickers have been waiting for has finally arrived
The news for stock pickers just keeps getting better — in addition to the overall great year for the market, one of the biggest trends holding back performance has shown a sharp turnaround. Correlation, or the tendency of stocks to move up and down in lockstep, has hit a post-financial […]