Shares of certain U.S. energy producers are becoming increasingly attractive investments as oil prices fall along with the broader market, Seaport Global’s Mike Kelly told CNBC on Thursday. Large swaths of the oil sector have been pummeled as concerns about a supply glut and global economic pressures have weighed on energy-related equities. Kelly, who leads
Month: December 2018
As 2018 draws to a close, a panel of journalists met for an episode of “Fortt Knox” to look back at some of the defining controversies of the year. Digital data became a flashpoint as more people considered the implications of smartphone apps that literally track our every move. Digital fun came into question as
History has shown that the Federal Reserve can and will change its mind on a dime when it comes to raising and cutting interest rates, according to an analysis by David Rosenberg, the chief economist and strategist at Gluskin Sheff. “When I tell people the Fed will be easing monetary policy in coming months, the
Sears, the 125-year-old icon, has 24 hours to survive. The employer of more than 68,000 filed for bankruptcy in October. Its last shot at survival is a $4.6 billion proposal put forward by its chairman, Eddie Lampert, to buy the company out of bankruptcy through his hedge fund, ESL Investments. ESL is the only party
In the dust of Wednesday’s stunning 1,000-point market gain could be the makings of the long-awaited Santa Claus rally. Though the jolly old elf traditionally visits the public before Christmas, he generally doesn’t come to Wall Street until the last week of the year. With just four trading days left, including Wednesday, it was about
It’s the most expensive purchase many of us even consider: A place to live. As we head into 2019, a complicated landscape in real estate has emerged. For a decade in a rebounding U.S. economy amid cheap loans, home prices have marched steadily higher. When the market bottomed in February 2009, the median sale price
The impact of Trump’s tariffs on China’s economy has mostly only been psychological so far in the ongoing trade war, analysts say. That’s may be set to change next year, potentially denting Chinese growth. “With the tariffs we haven’t seen the direct impact, but we’ll see that next year,” said Tom Rafferty, principal economist for
LinkedIn co-founder Reid Hoffman apologized Wednesday for funding a group that allegedly had a hand in spreading misinformation during the 2017 Alabama Senate race. In a post on his Medium blog, Hoffman said he was not aware of the tactics alleged in the New York Times article that called out his ties to American Engagement
You’ve heard it before: Just because everyone else is doing it doesn’t mean you should. And that adage applies to the current stock sell-off, according to financial advisors. Panicked selling will likely be a big mistake. That is because that decision will likely be based on emotions, according to Douglas Boneparth, president and founder of
Wells Fargo strategist Christopher Harvey sharply reduced his expectations for the stock market in 2019, making him easily the least optimistic forecaster on Wall Street. Even with the sharp cut, though, pretty much every major house on the Street sees the market higher in the year ahead, despite the brutal correction and potential bear market
For all the Mega Millions players whose dreams of a Christmas Day windfall didn’t come true, the good news is that you get a chance to win an even bigger jackpot in the next drawing. The bad news? You likely won’t win. “The sheer number of possible ticket combinations makes it improbable,” said Kenneth Ryan,
With stock returns in the red this year, people are generally advised to leave their investments alone until they recover. That can be hard with a 529 savings plan if you expected to tap the account for a tuition bill due in a few months or weeks. The state-sponsored investment plans encourage parents to save
India will ban e-commerce companies such as Amazon.com and Walmart-owned Flipkart Group from selling products from companies in which they have an equity interest. In a statement, the government also said that the companies will be prevented from entering into exclusive agreements with sellers. The new rules will be applicable from February 1. “An entity
The stock market is ending the year on quite the ugly note. Here is where we stand statistically: S&P 500 closed down -2.71% Monday for its seventh negative day in 8 and its worst day since Dec. 4, when the S&P lost -3.24% Until Monday, the Dow & S&P 500’s worst Christmas Eve ever was
It’s helpful to know what a “bear market” is because based on history, it looks like we could be here for a while. The term on Wall Street is synonymous with serious, long-lasting declines in stock markets. In numeric terms, a bear market is a 20 percent or more drop from a recent peak. The
Facebook reportedly killed a feature meant to expose its users to different perspectives over fears of being seen as having a liberal bias, according to a Wall Street Journal report published Sunday. Facebook’s most prominent conservative executive and global policy head Joel Kaplan reportedly pushed for the feature to be squashed, according to the Journal.
Older workers have a plum opportunity to sock away even more cash to cover health costs in retirement — provided they do it correctly. In 2019, individuals with self-only coverage in a high-deductible health insurance plan will be able to save up to $3,500 in a health savings account. Those with family coverage can put
U.S. market indicators are signaling that the economy could slow in 2019, former deputy Treasury Secretary Roger Altman told CNBC on Monday as markets closed early ahead of Christmas. The major averages saw the worst Christmas Eve trading session in history as the Dow Jones Industrial Average shed over 650 points and the S&P 500
It was Wall Street that scared the markets as storied institutions failed during the financial crisis, and now as stocks fall into bear market territory, it’s Washington that’s getting the blame. Making matters worse, is that when financial markets are in trouble, market pros turn to Washington’s lawmakers and regulators for help, and now they
When a little baby boy came wailing into the world on Sept. 12, 2005, his birth made headlines far from his home in Sweden. Oliver Christian Google Kai’s quirky techno name caught the attention of blogs across Europe and in the United States, and the search giant itself even published its own post, writing “we
If giving to charity is still on your agenda for 2018, there’s still a window of time for you to make that year-end donation. However, if you make a mistake, your gift might not count for the 2018 tax year. Of note, new tax rules have made it more difficult to get a deduction for
Despite the market turmoil in December, many of Wall Street’s top analysts remain bullish for 2019. A CNBC survey found that the average strategist sees the S&P 500 ending next year above 3,000. That move would be a gain of more than 20 percent from current levels. That would be welcome news to investors, with
Stocks could look to bounce later in the week, after the worst Christmas Eve performance ever, but some strategists expect only a half-hearted rally attempt with more losses to come. The S&P 500 lost 2.7 percent Monday, to 2,351 in a half-day session, and is now officially in a bear market — or down 20
It is not a great time to sell cars in China. The world’s largest car market is experiencing what some industry watchers say is its biggest slowdown in two decades. Foreign automakers, such as General Motors have so far been able to weather the storm, but others, such as Ford, have watched their business in
Sun Belt states such as Florida or Arizona may beckon some people in retirement, but fewer than you’d think. It turns out most people say they’d like to grow older at home, according to a study from Retirement Living, a website that aggregates retirement resources. Moving to an assisted living facility is a last resort.
It’s hard to avoid the allure of panicky headlines when the Dow is below 23,000 and the Nasdaq has entered a bear market, but for every “record” stampede of investors into bonds and sudden flood of money into cash tracked by a Wall Street firm, there’s a wealthy American making a money move that might
The U.S. Treasury Department had no concerns about liquidity whatsoever, a senior Treasury official told CNBC’s Sara Eisen on Monday. The calls Treasury Secretary Steven Mnuchin had on Sunday with the heads of the six largest U.S. banks was intended to be a check-in on the Federal Reserve Chairman Powell, government shutdown, trade and the
While President Donald Trump has complained publicly about Federal Reserve Chair Jerome Powell, what he does with his pending nominations to fill two remaining vacancies on the board will tell whether he wants to escalate his fight with the Fed. Trump has nominated former Fed staffer Nellie Liang and Carnegie Mellon economist Marvin Goodfriend, but
Tesla fell as much as 6.7 percent Monday after the company cut prices in China and said it would pay customers who missed a tax credit deadline due to the company’s production delays. The Nasdaq Composite Index was down about 1 percent on Monday morning. CEO Elon Musk tweeted Saturday that it would make sure
Buyer’s remorse may be easy to remedy this holiday season — just remember to mark your calendar. Retailer return policies are more apt to fall on the “nice” list rather than “naughty,” according to a new report from advocacy site ConsumerWorld.org, which has studied store return policies around the holidays for the past 15 years.
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