Former Special Counsel Robert Mueller exits during a break in testimony during a House Intelligence Committee hearing on the Office of Special Counsel’s investigation into Russian Interference in the 2016 Presidential Election on Capitol Hill in Washington, July 24, 2019. Jonathan Ernst | Reuters The nearly two-year special counsel investigation of Russian election interference led
Month: August 2019
Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters With new risks from trade wars, stocks head into the final weeks of summer vulnerable to a pull back or even correction. The market was down sharply in the past week, buffeted first by disappointment over the Fed’s more hawkish-than-expected
An Apple employee stands in front of an Apple store in Hong Kong. Budrul Chukrut | SOPA Images | LightRocket | Getty Images Apple‘s earnings face a “manageable” hit from the newly proposed tariffs, and Thursday’s sell-off makes the stock an even more attractive buy for investors, Bank of America Merrill Lynch said in a
In this photo illustration, a container of Johnson’s baby powder made by Johnson and Johnson sits on a table in San Francisco, California. Justin Sullivan | Getty Images A jury in Kentucky rejected claims that Johnson & Johnson‘s talc-based baby powder contained asbestos and caused mesothelioma, the company said in a statement, a win for
Student debt likely will be a key issue in the 2020 presidential race. A good portion of the major contenders for a presidential nomination, including Sen. Bernie Sanders, I-Vt.; Sen. Kamala Harris, D-Calif.; former Vice President Joe Biden and Sen. Elizabeth Warren, D-Mass., have supported free college and student debt relief plans. For example, Sanders’
Sand destined for the oil and gas fields piles up at the EOG Resources processing plant in Chippewa Falls, Wisc. Steve Karnowski | AP After shakey earnings for oil producer EOG Resources, the company’s stock is well-positioned to outperform, according to Mizuho Securities. The firm maintained its buy rating and $122 price target on EOG
Western Canada Steve Smith | Tetra images | Getty Images Looking for some peace and quiet in retirement and willing to pay for the privilege? Try looking outside U.S. borders. We took the top 10 countries in this year’s Global Peace Index from the Sydney, Australia-based Institute for Economics and Peace and reordered them from
Wages picked up and hiring continued strong in July but at a much slower pace than last year, reflecting an economy heading toward full employment but still with workers looking to move into the labor force. The economy added 164,000 nonfarm payrolls in July, just as expected, but revisions reduced job growth in May and
Offshore workers examine hydrocarbon samples aboard the Chevron Corp. Jack/St. Malo deepwater oil platform in the Gulf of Mexico off the coast of Louisiana, U.S., on Friday, May 18, 2018. Luke Sharrett | Bloomberg | Getty Images Chevron reported a 26.3% rise in quarterly profit on Friday, as higher production more than offset lower crude oil
Retail stocks buckled on Thursday as a dreaded fourth round of tariffs moved swiftly from a threat to a reality with one tweet. The sector’s slide continued Friday as investors braced for this latest blow. U.S. President Donald Trump wrote in part in the third tweet of a thread of four “…the U.S. will start,
A new bill in Congress aims to give older Americans a tax break for setting aside money for medical expenses, a strategy many give up when they reach age 65. There would be a trade-off, however. Called the Health Savings for Seniors Act and introduced by Reps. Ami Bera, D-Calif., and Jason Smith, R-Mo., the
The surprise tariffs President Donald Trump announced Thursday against $300 billion or so of Chinese goods takes the trade dispute between the two countries to a new level, even though in dollar terms it doesn’t amount to a whole lot. The president’s announcement jolted markets, which had bounced back sharply off Wednesday’s disappointing Fed rate
AFP | Getty Images Square is getting out of the food delivery business. The payments company is selling its on-demand delivery service Caviar to DoorDash for $410 million, Square announced during second-quarter earnings Thursday. The acquisition will be a combination of cash and DoorDash preferred stock, and is expected to close at the end of
A Wayfair employee works at his desk at the Boston headquarters of Wayfair on July 31, 2018. Suzanne Kreiter | Boston Globe | Getty Images Wayfair shares whipsawed Thursday morning after the online furniture retailer reported a larger loss for its fiscal second quarter, as costs for things like advertising and customer service skyrocketed. The
CNBC’s Jim Cramer on Thursday told a “Mad Money” viewer that he’d be a buyer of McDonald’s here. “I don’t think it is due for a pullback. It’s the kind of stock I’d buy in this environment,” the host said, applauding the work that CEO Steve Easterbrook has done for the restaurant chain. Despite the
Ezra Bailey | Getty Images Stashing the maximum amount into your 401(k) plan is no easy feat — but a handful of taxpayers are making it work. In all, more than 4.6 million taxpayers contributed the maximum amount in their 401(k) during the 2016 tax year, the latest data available from the IRS. Back then,
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., on Wednesday, July 31, 2019. Andrew Harrer | Bloomberg | Getty Images Two words from Federal Reserve Chairman Jerome Powell — “midcycle adjustment” — may have briefly roiled financial markets, but
Likely Federal Reserve nominee Judy Shelton compared the current situation involving the U.S. central bank and its global counterparts to the 1930s as the world struggled through the Great Depression. Shelton referred to the central banks lowering rates and devaluing their respective currencies to undercut competitors. The Fed lowered its benchmark interest rate by a
A customer smokes British American Tobacco Plc’s Glo smokeless tobacco device in Tokyo, Japan, June 26, 2017. Akio Kon | Bloomberg | Getty Images British American Tobacco beat first-half sales forecasts on Thursday, helped by higher demand for e-cigarettes, and predicted a stronger performance in the second half as it focuses on a smaller number
Concept rendering of Universal Orlando Resort’s newest theme park: Epic Universe. NBC Universal Universal Studios Resort is adding another theme park to its roster. Parent company Comcast revealed Thursday that it would be building Universal’s Epic Universe, a major expansion in Orlando, Florida that includes hotels, restaurants and shops. The news comes just as Disney
Sen. Kamala Harris Elijah Nouvelage | Reuters Student debt has become a central issue in the 2020 presidential campaign. First, Sen. Elizabeth Warren, D-Mass., proposed canceling $640 billion of it. Then Sen. Bernie Sanders, I-Vt., said he’d erase all $1.6 trillion of it. Now Sen. Kamala Harris, D-Calif., has released a plan to forgive student
Source: SmileDirectClub SmileDirectClub is bracing for a windfall of cash. The company, which provides invisible teeth-straightening devices, is looking to sell up to $1 billion in stock in an initial public offering, three people with knowledge of the matter said. SmileDirectClub is currently on file confidentially and aiming to flip its IPO prospectus to be
Leon Cooperman Scott Mlyn | CNBC During Tuesday night’s Democratic presidential debate, many of the Democratic candidates called for ending a favorite tax break of the rich. And now they have some unlikely allies: billionaire, conservative hedge-fund managers. In Wednesday’s Financial Times, hedge-fund manager and longtime Republican supporter Leon Cooperman said that while he opposed
A Fitbit display at a Target store in Los Angeles. Getty Images Check out the companies making headlines after the bell: Shares of Fitbit plummeted as much as 21% in after-hours trading after the maker of health and fitness devices cut its guidance for the next quarter. In its second-quarter earnings report, the company said,
Qualcomm Inc. CEO Steve Mollenkopf. Getty Images Qualcomm issued guidance for September quarter earnings and revenue significantly lower than analyst expectations on Wednesday. The stock dropped as much as 5% in after-hours trading. Here’s how the company did versus expectations: Earnings: $0.80 per share, excluding certain items, vs $0.75 expected according to analysts polled by
Workers sewing in a clothing factory in Bozhou, east China’s Anhui province. STR | AFP | Getty Images China’s manufacturing activity contracted in July, according to results of a private survey released on Thursday. The Caixin/Markit factory Purchasing Managers’ Index for was 49.9 — slightly better than expected. Analysts polled by Reuters had expected the indicator