Even if the Federal Reserve cuts rates later this month, Wilmington Trust’s Meghan Shue warns the market is vulnerable to a correction. The firm’s senior investment strategist believes Wall Street is overestimating the Federal Reserve’s influence to support the record highs. “The market is putting a lot of stake in the ability of the Fed
Month: July 2019
Hemp plants are grown for medical research purposes in Chiang Mai province, Thailand. Taylor Weidman | Bloomberg | Getty Images With Thailand’s legalization of medical cannabis in February, some experts predict that other Southeast Asian countries may move to decriminalize the plant. If that happens, it could prove a significant opportunity for investors interested in
For many older Americans, retirement means freedom to explore beyond your backyard. Before you take off, however, check whether your health insurance travel with you. Assuming you’re on Medicare — most adults age 65 or older are — coverage away from home depends partly on where you travel to, along with whether you’re on basic
Six Flags Over Texas in Arlington, Texas. Mike Fuentes | Bloomberg | Getty Images Watch out for the comeback kids. While market records were broken and many stocks surged in the first half of the year, not all of them did. Wall Street analysts were telling clients there were plenty of values to be found
The Walt Disney Company CEO, Robert Iger arrives for the World premiere of Marvel Studios’ ‘Avengers: Endgame’ at the Los Angeles Convention Center on April 22, 2019 in Los Angeles. VALERIE MACON | AFP | Getty Images Disney is set to renew its multiyear carriage agreement with Charter, the second-largest U.S. pay TV provider, at
Jack McCauley was one of the six Oculus co-founders, but he’s also one of its biggest bears, telling CNBC he doesn’t think there’s a market for virtual reality video gaming. Jack McCauley Five years after its $2 billion purchase of Oculus, Facebook is still pushing forward in its efforts to bring virtual reality to a
For identity thieves, kids are the perfect mark. While adults make prime targets for their account balances, a child’s information, particularly their Social Security number, has even more value to scammers because it is a “clean slate” for opening new lines of credit before someone catches on, according to the Identity Theft Resource Center. More
An employee rings up a customer’s merchandise at The Container Store in Chicago, Illinois. Scott Olson | Getty Images There’s a group of stocks that tend to rise or fall dramatically following their earnings report. Bespoke Investment Group analyzed the most volatile names on earnings, looking at companies that have been publicly traded for at
An earnings season that delivers will play an integral role in whether the market can maintain all-time highs, according to Crossmark Global Investments’ Victoria Fernandez. The chief market strategist believes Wall Street is completely discounting second earnings expectations right now, and that leaves little room for disappointments when the season kicks off this Monday. “Earnings
Istvan Kadar Photography | Moment | Getty Images Nearly 40,000 Con Edison customers were left without power Saturday after massive outages hit New York City. The utility company said it was responding to “extensive outages” on the westside of Manhattan and would share more information as it becomes available. The power outage was apparently caused
Elisha Bokman Source: Elisha Bokman Elisha Bokman has been out of school for eight years. Still, her student loan balance is half a million dollars. Today, for her doctorate degree in naturopathic medicine and master’s in acupuncture from Bastyr University, she owes $499,322.69. She and her husband struggled to buy a house because of her
A man cleans a PW1000G geared turbofan engine developed by MTU Aero Engines AG and Pratt & Whitney, a unit of United Technologies Corp., at the Singapore Airshow held at the Changi Exhibition Centre in Singapore. Brent Lewin | Bloomberg | Getty Images The Dow Jones Industrial Average reached 27,000 for the first time ever
Check out the companies making headlines in midday trading: Johnson & Johnson — Shares of the pharmaceutical and consumer goods company fell 4% after Bloomberg News reported that the U.S. Justice Department is launching a criminal investigation into whether or not the company lied to the public about potential cancer risks in its talcum baby
Delivery trucks sit parked at loading docks outside the Fastenal Co. distribution center in Jessup, Pennsylvania. Luke Sharrett | Bloomberg | Getty Images For those who don’t see the trade war with China hurting U.S. business, a big industrial with a $17 billion market value just sounded the alarm on tariffs costs and related inflation.
Tropical Storm Barry, which threatens to make landfall as a hurricane Saturday and flood parts of Louisiana, will pose a serious test of New Orleans’ post-Hurricane Katrina flood defenses. New Orleans’ situation is precarious. The Mississippi River is expected to rise to nearly 20 feet, the highest level since 1950; roughly 10 to 15 inches
Washington D.C. Danita Delimont | Getty Images About 1.3 million Americans could have their retirement funds at risk if Congress can’t come up with the money to pay the benefits people were promised. That is because a number of multiemployer pension plans are on the brink of running out of money. This week, Congress took
The stock market has been hitting all kinds of records this week, and Wharton School professor Jeremy Siegel told CNBC on Friday that he does not see that stopping anytime soon. “I think fair market value does give us another 5% or 6% this year” on the S&P 500 with the Federal Reserve signalling interest
Geoffrey Berman, United States Attorney for the Southern District of New York, points to a photograph of Jeffrey Epstein as he announces the financier’s charges of sex trafficking of minors and conspiracy to commit sex trafficking of minors, in New York, U.S., July 8, 2019. Shannon Stapleton | Reuters Wealthy financier and accused child sex
U.S. President Donald Trump attends a bilateral meeting with China’s President Xi Jinping during the G20 leaders summit in Osaka, Japan, June 29, 2019. Kevin Lamarque | Reuters Citigroup kicks off earnings season on Monday. Traders enter with a singular focus on company guidance. Bears believe second-half guidance will be cautious and lower than expected
Nick Gregory, a 26-year-old manager, vapes on a JUUL at Botany Bay in Lexington, Ky. Charles Bertram | Tribune News Service | Getty Images A U.S. federal judge on Friday ordered the Food and Drug Administration to impose a 10-month deadline for the submission of e-cigarette applications, turning the screws on companies like Juul Labs
Cancer can take a significant toll on your health, your work, your family – and, increasingly, your wallet. There are currently an estimated 16.9 million people in the U.S. who have received a cancer diagnosis. For them, the disease comes with many disproportionate hardships, from the physical and the emotional to the financial. Not only
James Gorman, Morgan Stanley Adam Galica | CNBC Citi upgraded Morgan Stanley to buy on Friday and said if the Fed cuts rates as expected, that it will “spur capital markets activity.” The firm also said it expects two rate cuts in 2019 and 2020 and raised its target price on the investment bank to
A rare pair of Nike “Moon Shoes” could fetch as much as $160,000 in an auction held by Sotheby’s. The New York auction house is allowing collectors to bid on an array of rare sneakers in a digital lot, dubbed “Stadium Goods: The Ultimate Sneaker Collection Online.” The “Moon Shoe” is estimated to reach a
UBS has become the first broker to upgrade Deutsche Bank‘s stock following its initiation of a historic restructuring program. In a note published Friday, UBS analysts upgraded the German lender’s stock from a “sell” to “neutral” and raised its 12-month price target from 5.70 euros ($6.42) a share to 6.60 euros, on the basis that
A sales consultant with Illumina displays a flow cell at a symposium in La Jolla, California. Sam Hodgson | Reuters Shares of Illumina dropped more than 16% in extended trading after the genetics company slashed its full-year guidance and previewed disappointing second-quarter revenue. Illumina said it expects to report a second quarter revenue of approximately
Ford Motor and Volkswagen officially announced the expansion of their global “collaboration” Friday morning, adding autonomous and electrified vehicles to the list of projects that began with January’s announcement of a joint venture covering commercial vehicles. The expanded alliance now will add two of the most significant, albeit costly, technologies expected to dramatically reshape the
JPMorgan Chase is trying to make it harder for its credit card customers to sue the bank in court by requiring them to go into private arbitration to settle disputes. The opportunity for JPMorgan Chase credit cardholders to opt out of binding arbitration expires in a month. The bank notified customers in May that their
The US flag flies over shipping cranes and containers in Long Beach, California on March 4, 2019. Mark Ralston | AFP | Getty Images This upcoming earnings season is shaping up to be a weak one. Because of uncertainty around trade wars and global growth, a bulk of U.S. companies are lowering the bar for
Pennsylvania state capitol building John Greim/LightRocket | Getty Images It is not an easy time to be the treasurer of Pennsylvania. Joseph Torsella, a Democrat elected treasurer in 2016, has to cope with a simple fact of life: age. His politically important swing state has the sixth largest economy in the nation — but it
President Donald Trump‘s public pressure on Jerome Powell to lower interest rates may have made the Federal Reserve chairman reluctant to do so, a former Fed official told CNBC on Thursday. “It may have held up his being willing to cut rates. It may have been counterproductive. So I don’t think he did it because
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