Wall Street’s top rated economist Ed Hyman just called the yield-curve inversion “the number one” market risk, and this chart shows why. Going back to 1986, when the yield curve turned flatter drastically and eventually inverted, the S&P 500 tends to go into a downward spiral within the next 12 months, according to The Leuthold
Month: June 2019
Businessman standing in front of window with business thinking. baona | iStock | Getty Images The following is a modified excerpt from CNBC cybersecurity reporter Kate Fazzini’s “Kingdom of Lies: Unnerving Adventures in the World of Cybercrime, ” on sale wherever books are sold. Names of corporations and individuals have been changed to protect sources. In
Bill Hinton | Getty Images First, you receive a call about your student loans. The person on the other end offers to lower your monthly payments or make your debt disappear altogether, potentially for a fee. Sounds great, right? You go through the steps, sharing your federal student loan ID and other sensitive information along
Options traders are flooding into the Magic Kingdom after a bullish call from Morgan Stanley forecasting blockbuster profits from upcoming streaming service Disney+. The note predicts that Disney‘s over-the-top service will boast 130 million or so subscribers by 2024. That would represent prolific year-over-year growth for a streaming platform chasing the current leader, Netflix, which
Democratic presidential candidate Senator Elizabeth Warren (D-MA) speaks at the Iowa Democratic Party’s Hall of Fame Dinner on June 9, 2019 in Cedar Rapids, Iowa. Scott Olson | Getty Images A majority of millionaires support Sen. Elizabeth Warren’s proposed tax on large wealth, according to a new survey. Fully 60% of millionaires support Warren’s plan
Federal Reserve Chairman Jerome Powell holds a press conference following a two day Federal Open Market Committee policy meeting in Washington, January 30, 2019. Leah Millis | Reuters With pretty much everyone convinced that the Fed is going to be cutting interest rates at some point this year, the central bank faces one rather pressing
The men’s assormtment on the inside of a Lululemon store. Source: Lululemon Lululemon on Wednesday reported first-quarter earnings and sales that outpaced analyst estimates, sending shares up nearly 3% in after-hours trading. Here’s what the retailer reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share:
A very long United Airlines Boeing 757-300 on the move at Los Angeles airport, 2015/08/31 SOPA Images | LightRocket | Getty Images A United Airlines jet skidded off the runway after landing on Saturday at Newark Liberty International Airport, briefly halting flights, officials said. The left landing gear of the Boeing 757 was stuck in
Getty Images American parents aren’t going all in on the allowance. While many financial experts tout the allowance as an important tool to teach kids about money, a recent survey commissioned by CreditCards.com found that only 40% of children under the age of 18 receive one. “Whether or not to pay an allowance is a
Evercore ISI Chairman Ed Hyman sees an “insurance” rate cut in July and more to follow as the inverted yield curve is making him “quite uncomfortable.” “I think they are going to ease in July and ease a couple of more times to try and get yield curve positive again and also put some insurance
Izabela Habur | Getty Images There have been plenty of reasons lately to worry about the market and economy, but among America’s wealthy fear is no way to manage money. Individuals with at least $1 million to invest in stocks and other assets have been doing a good job of tuning out all the noise,
The U.S.-China trade spat may spare a few chipmakers, says one analyst. As large chip companies such as Broadcom fall under pressure from restrictions on Chinese telecommunications giant Huawei — a major buyer of U.S. semiconductor chips until its recent blacklisting — a few more focused players will likely avoid the brunt of the pain, Ark
Hock Tan, chief executive officer of Broadcom Martin H. Simon | Bloomberg | Getty Images Shares of chipmaker Broadcom fell more than 8% on Thursday after the company reported lower-than-expected revenue for the second quarter of its 2019 fiscal year, which ended on May 5, and cut its revenue guidance. Here are the key numbers
CNBC’s Jim Cramer on Friday told a “Mad Money” caller that he is staying away from stocks of companies that are highly leveraged to the mall. Foot Locker, the shoe chain that’s ubiquitous in almost every shopping center, saw its stock tank after missing Wall Street profit and revenue estimates in its latest quarterly earnings
Alija | Getty Images If you’re a New Yorker who spends half the year in Miami, you’ll have to do more than that to be considered a Floridian. Moving to an income tax-free haven like Florida, Nevada or Texas is a tempting prospect for residents in high-tax states such as New York, New Jersey and
Broadcom CEO Hock Tan is paying the price for misjudging President Donald Trump‘s resolve to “bring the Chinese to their knees,” CNBC’s Jim Cramer said Friday. Trump feels he has to “sacrifice Broadcom on the alter of Huawei” to humble China in trade negotiations, Cramer argued. Last year, Broadcom received about $900 million in revenue
Billy J. Hensley About this time each year, I expect the predictable articles proclaiming that personal finance education doesn’t work. Pundits point to poor proficiency in financial literacy “tests,” and programs that show minimal change in consumer’s behaviors to support their position. They assert this education is useless, ineffective and a waste of time, and
Actor/producer Brad Pitt accepts the PGA Visionary Award during the 26th Annual Producers Guild Of America Awards last January in Los Angeles. Getty Images Hollywood star Brad Pitt, Steve Job’s widow Laurene Powell Jobs and UK-based stock-picker Neil Woodford are all reportedly investing in a little known “cold fusion company,” the Financial Times said on
Hock Tan, CEO of Broadcom Lucas Jackson | Reuters Broadcom led a plunge in chip stocks Friday after the chipmaker missed revenue expectations and lowered guidance for 2019 citing a “broad-based” slowdown in demand and the U.S. crackdown on Huawei. Broadcom shares lost more than 9% in premarket trading Friday. Skyworks, Xilinx, Micron, Advanced Micro
Nick Leschly, CEO of Bluebird Bio in Cambridge. Wendy Maeda | The Boston Globe | Getty Images Bluebird Bio CEO Nick Leschly on Friday defended the biotech company’s $1.8 million price tag for its new gene therapy to treat a rare genetic blood disorder. Bluebird’s therapy, Zynteglo, was approved in Europe earlier this month for
AleksandarNakic | E+ | Getty Images Your dream of exploring a foreign country doesn’t have to end when your paychecks do. More U.S. retirees are choosing to pack their bags and settle down internationally — and for some, that means stretching their retirement dollars. Leaving the U.S. can open the door to a more affordable
Amid ongoing controversy over its use of its users private information, Facebook has been kicked out of an index tracking companies that abide behind socially responsible practices. S&P Dow Jones Indices announced Thursday that the social network no longer will be part of the S&P 500 ESG Index. The gauge follows companies that S&P says
Victorian homes and the downtown skyline in San Francisco, California. David Paul Morris | Bloomberg | Getty Images Depending where you live, staying put in your home for the last two decades could be paying off well. As in really well. While the median nationwide home value is about 90% higher now than it was
Oil prices have been crushed by worries about weaker demand and a slowing global economy, but the market could begin to price in greater geopolitical risks if there are more attacks like the one on two oil tankers in the Gulf of Oman Thursday. But even as analysts say oil could rise on Mideast tensions,
Gary Friedman, CEO, Restoration Hardware Scott Mlyn | CNBC Shares of RH, formerly known as Restoration Hardware, soared 23% in premarket trading Thursday after the company crushed earnings expectations and raised its full-year outlook as the brand’s turnaround begins to pay off. The furnishing retailer attributed its performance to its strategy of transforming into a
Even as analysts have called the doom of retail as Amazon‘s might and influence grows stronger, some have bounced back — often with the help of their online business. A number of retailers and restaurants over the past few weeks have reported explosive growth of e-commerce sales. Lululemon on Wednesday said online sales this past
DNY59 | iStock | 360 | Getty Images To save, or not to save? That question might not be yours to answer. A growing number of companies now direct money from their employees’ paychecks to a retirement account — even after a worker has said “no, thanks.” Auto-enrollment into retirement plans, of course, is not
Howard Marks, Co-Chairman, Oaktree Capital. David A. Grogan | CNBC Billionaire investor and Oaktree Capital Management Co-Chairman Howard Marks is worried to hear investors say “this time it’s different” or openly wonder if the historic bull market and economic success “can only get better forever.” In a 12-page letter sent to Oaktree clients on Wednesday,
Former U.S. vice president and current presidential candidate Joe Biden speaks during a campaign stop at the IBEW Local 490 in Concord, NH on June 4, 2019. Matthew J. Lee | Boston Globe | Getty Images American millionaires would elect Joe Biden over President Donald Trump if the former vice president becomes the Democratic nominee,
Fintech start-up Revolut launched its app in Australia on Thursday, marking its first expansion outside of Europe. The online banking platform said it would gradually sign up 20,000 Australians already on a waiting list, while new customers will have to wait a little longer. Revolut has grown rapidly since it was founded in 2015, racking
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