CNBC’s Jim Cramer said Wednesday that a number of bank stocks are worth buying, despite signs that the economy is weakening and the Federal Reserve won’t be raising interest rates this year. The banking cohort that have reported earnings thus far — Citigroup, JPMorgan Chase, Wells Fargo and Goldman Sachs — combined made $29.5 billion, which the
Month: July 2019
filadendron | E+ | Getty Images Amazon‘s 48-hour Prime Day is over, which means regret over some of your purchases might be sinking in. You’re not alone. Eddie McNamara, a 43-year-old cook in New York, still regrets his Prime Day purchase of two Instant Pots — one for him and one for his sister —
Tim Cook, chief executive officer of Apple Inc., speaks during an event at the Steve Jobs Theater in Cupertino, California, U.S., on Monday, March 25, 2019. David Paul Morris | Bloomberg | Getty Images Here are the biggest calls on Wall Street on Wednesday: Goldman Sachs raised its price target on Apple to $187 from
Getty Images Shopping “holidays” like Black Friday and Amazon Prime Day are designed to entice consumers to spend as much as possible on items they may not have planned to purchase. But even in the absence of such events, it’s common for consumers to succumb to pressures to make impulse buys. Nearly 90% of people
Don’t gush over Dow 27,000. Never mind the S&P 500 summiting 3000. A more momentous milestone lies just ahead: If the S&P 500 climbs another 4%, it will have doubled the peak reached in the previous bull market. Only three prior bull cycles have logged such a 100% gain from the prior bull peak: The
Brian Moynihan, CEO, Bank of America Scott Mlyn | CNBC Bank of America posted profit that exceeded analysts’ expectations on strength in its sprawling retail bank. The lender generated $7.3 billion in second-quarter profit, an 8% increase from a year earlier, or 74 cents a share, compared with the 71 cent estimate of analysts surveyed by
Lawrence K. Ho | Getty Images Newly released federal data shows how drugmakers and distributors increased shipments of opioid painkillers across the U.S. as the nation’s addiction crisis accelerated from 2006 to 2012. The data, released this week by a federal court in Ohio as part of a far-reaching opioids case, shows that companies distributed
Former Vice President Joe Biden takes the stage for the second night of the first Democratic presidential debate on June 27, 2019 in Miami, Florida. Drew Angerer | Getty Images If you missed out on a deduction for state and local taxes on your 2018 return, you’re not alone: Former vice president Joe Biden and
A woman walks past JP Morgan Chase’s corporate headquarters in New York. Getty Images A few of the largest U.S. banks on Tuesday warned investors of the effect multiple interest rate cuts by the Federal Reserve could have on their bottom lines throughout the rest of 2019. J.P. Morgan, Wells Fargo and Goldman Sachs all
ASML Holding Semiconductor company logo seen displayed on smart phone. ASML is a Dutch company and currently the largest supplier in the world of photolithography systems for the semiconductor industry. ( SOPA Images | LightRocket | Getty Images Could the news get any worse for semiconductors? First the global slowdown clobbered them at the end
Pedestrians pass in front of a Wells Fargo bank branch in New York. Eric Thayer | Bloomberg | Getty Images Wells Fargo is scheduled to report second-quarter earnings before the opening bell on Tuesday. Here’s what Wall Street expects: Earnings: $1.15 per share Revenue: $20.93 billion Much of Wall Street remained in wait-and-see mode ahead
The market could be due for a correction now that the S&P 500 is trading above the 3,000 level, according to the charts. Because of this, there is good reason for investors to be more cautious about their portfolio, CNBC’s Jim Cramer said Tuesday citing technician Carley Garner. The S&P has added more than 650
Blueflames | Getty Images The average family doesn’t feel as good today as yesterday. Middle-class Americans are less optimistic about their economic prospects than they were just six months ago, according to a new report from CUNA Mutual Group. Although the majority of those polled said they feel relatively stable overall, they graded their chances
A Jeep Renegade 4×4 e is presented at the Geneva Motor Show March 5, 2019. Signage in the background says”‘FCA Fiat Chrysler Automobiles,” to which Jeep belongs. Uli Deck | picture alliance | Getty Images Here are the biggest calls on Wall Street on Tuesday: Goldman Sachs initiated Fiat Chrysler as ‘sell’ Goldman said FCA
Jamie Dimon David Paul Morris | Bloomberg | Getty Images J.P. Morgan chief Jamie Dimon praised the strength of the U.S. consumer following the largest U.S. bank’s strong quarterly earnings. “We continue to see positive momentum with the U.S. consumer – healthy confidence levels, solid job creation and rising wages – which are reflected in
The Domino’s Pizza company logo is displayed on the jacket of delivery driver in London, U.K., on February 27, 2017. Jason Alden | Bloomberg | Getty Images Domino’s stock fell Tuesday after the company reported weaker same-store sales growth as it expands its store base and grapples with the threat of third-party delivery. Shares of
The Amazon website is seen on a smart phone on July 14, 2019 in Orlando, Florida. Paul Hennessey | NurPhoto | Getty Images Amazon.com Inc has a promotion for U.S. shoppers on Prime Day, the 48-hour marketing blitz that started Monday: Earn $10 of credit if you let Amazon track the websites you visit. The
It’s become one of the biggest shopping events of the year, yet some discounts are better than others. The 48-hour Amazon Prime Day extravaganza kicks off July 15, with more than 1 million deals for members, including intermittent “lightning deals.” For example, the Toshiba HD 43-inch Fire TV Edition Smart TV is now $179.99, a $120
Treasury Secretary Steven Mnuchin Jonathan Ernst | Reuters Treasury Secretary Steven Mnuchin has concerns about Facebook’s cryptocurrency and its potential illicit use. In a press conference Monday, he Facebook’s proposed digital currency, Libra, “could be misused by money launderers and terrorist financiers” and that it was a “national security issue.” The press conference comes days
The depressed valuations for banks and other financial firms mean “this is the time” for acquisitions and mergers in the industry, a former CEO of Wells Fargo said Monday. “Anytime you have high regulations in any industry, you get concentration, and banks are cheap,” Richard Kovacevich said on CNBC’s “Closing Bell. ” “So if you’re
Bay Ismoyo | AFP | Getty Images The second-quarter earnings season kicks into full gear this week, but a trend is already emerging with the companies that have reported so far. The strong dollar is eating away at company profits. Of the 5% S&P 500 companies that have reported so far, more than half of
CNBC’s Jim Cramer said Monday that bears — investors who try to predict and seek to profit from a stock price’s downward trajectory — will try to use this earnings season to encourage others to dump their holdings. They’ll use “specifically disappointing earnings” to deride the market, the “Mad Money” host said. “They see weakness,
Matteo Colombo | DigitalVision | Getty Images You’re all packed and ready for your trip. You know what you’re paying for airfare, hotel and other big ticket items. You even have money set aside for spending. Yet, one wrong move in the planning process — or while you are away — can blow your budget.
Larry Culp, CEO, General Electric Scott Mlyn | CNBC UBS lowered its rating on shares of General Electric to neutral from buy on Monday, saying the firm was “taking a breather after recent stock outperformance.” “A notable decline in interest rates and ongoing power market weakness drive our more balanced valuation upside/downside,” UBS analyst Damian
The “Options Action” traders share three options trading strategies to kick off the week. Dan Nathan broke down a call calendar in Netflix. Mike Khouw illustrated call buying in the Energy ETF. Mike Khouw and Guy Adami teamed up to look at a call spread risk reversal in Twitter. Disclosure Trader disclosure: Dan is Long EA
Michael Corbat, CEO of Citigroup Lucy Nicholson | Reuters Citigroup beat analysts’ expectations for profit and revenue on gains from the initial public offering of electronic bond trading platform Tradeweb. The bank posted profit of $4.79 billion, or $1.95 per share, compared with the $1.80 estimate of analysts surveyed by Refinitiv. Revenue climbed 2% to
The Charging Bull near Wall Street is pictured in New York, January 16, 2019 Carlo Allegri | Reuters J.P. Morgan on Monday raised its 2019 S&P 500 forecast and told clients that the market is set for even more gains in the second half as the Federal Reserve pivots toward easier monetary policy and the
Hinterhaus Productions | The Image Bank | Getty Images If your employer is giving you ownership shares as part of your pay, you could be accumulating wealth — or you could be ramping up risk. Equity compensation is a way for companies to reward employees who meet certain performance goals and incentivize them to stay.
James Gorman, chief executive officer of Morgan Stanley. Michael Nagle | Bloomberg | Getty Images Here are the biggest calls on Wall Street on Friday: Citi upgraded Morgan Stanley to ‘buy’ from ‘neutral’ Citi said that Morgan Stanley‘s upcoming earnings may be “difficult,” but it likes the firm’s “limited rate exposure.” “While 2Q19 is expected
Joe Biden used to joke about being “the poorest man in Congress.” It would be impossible for him to claim poverty now. The years since Biden left the vice presidency in 2017 have fattened his wallet. He and his wife Jill made more than $15 million combined in 2017 and 2018. [CNBC is looking at
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