Toll Brothers stock fell on Tuesday after the luxury-home builder gave weaker than expected guidance for the first quarter next year, while pointing to reports about the slowing housing market as the cause of the housing slowdown. “In November, we saw the market soften further, which we attribute to the cumulative impact of rising interest
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Tech stocks are back in correction territory after a painful day for public exchanges. The tech-heavy Nasdaq Composite index fell nearly 4 percent, with tech stocks like Apple, Amazon, Alphabet and Facebook weighing most heavily. In total, the so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet-owned Google — shed more than $140 billion
If you’re not sure how to take money out of your 401(k), you are not alone. A startup named Dream Forward, which is using an artificial intelligence chatbox as part of the 401(k) and 403(b) retirement plans it provides, has found that many of the same questions come up again and again. The company has
Stocks may have rebounded Monday on renewed hope for a trade deal between the U.S. and China, but CNBC’s Jim Cramer still found value in some names that tend to do well during downturns. Specifically, he highlighted the stocks of McDonald’s, Johnson & Johnson, Coca-Cola, Clorox, CBS and Kimberly-Clark. All six companies have secular tailwinds
Women — especially in China — are playing an increasingly big role in Asia’s luxury spending. That is a key finding of Wealth Report Asia 2018, Bank Julius Baer’s latest look into high-end consumption in the region released Tuesday. It tracks the spending habits of so-called high-net-worth individuals, which the Swiss private banking group said
British peer-to-peer lender Zopa has obtained a U.K. banking license, clearing a key hurdle in its bid to launch a digital bank and compete with industry giants. The company said on Tuesday that it had been granted an initial permit with restrictions from the Financial Conduct Authority, the U.K.’s financial watchdog, to open a bank.
U.S. President Donald Trump and Chinese President Xi Jinping may have put their tit-for-tat tariff fight on hold, but differences between the two countries’ views on technology and state-supported businesses will challenge negotiations between the two economic giants, analysts said. “Staunchly committed to the Chinese economic model, Xi will continue to lend state support to
Many people who wind up with a smaller Social Security check because they claim their benefit early could have waited longer to file, thanks to funds in their IRA. That’s the finding from a recently published study in the Journal of Pension Economics & Finance. “It seems like there is a significant portion of the
Liquidity is like good health. You don’t really appreciate it until you lose it. Investors are starting to appreciate it. As volatility has surged, first in the stock market and now in credit markets, liquidity is starting to dry up across segments of the corporate bond markets. The ominous widening of spreads in the high-yield
Top J.P. Morgan Chase strategist Marko Kolanovic doubled down on his bullish market call on Monday given “significant” progress in trade deliberations at the Group of 20 meeting and suggestions that the Federal Reserve may slow their path of interest rate hikes. Kolanovic, who two weeks ago predicted that investors would see shifts in both
If the holiday spirit is encouraging you to gift millions of dollars to family members, it’s time to start sharing the wealth. The Tax Cuts and Jobs Act increased the gift and estate tax exemption — also known as the basic exclusion amount — to $11.18 million per person in 2018, which is more than
Tougher sales comparisons and food price deflation at Costco will cut into performance in 2019, according to Citigroup, which downgraded the membership-only retailer to neutral on Monday. Citi analyst Kate McShane expects Costco to be a “standout” next year, but notes that the retailer faces “challenging comps in the coming months at a time when
Amazon, Apple and Microsoft are in a tight race for the title of world’s most valuable company. The three have tossed around the title over the past few trading days, each closing with a market cap over $860 billion. Microsoft surpassed Apple in market cap on Friday, only for Apple to overtake it again on
If you were reluctant about investing in bitcoin before, you’ve probably completely given up on the idea now. The cryptocurrency is trading at around $4,000, a steep drop from its all-time high of nearly $20,000 last December, according to data from CoinDesk. Investors looking for clues on how to move forward are likely to find
Invesco’s Kristina Hooper is concerned Wall Street is ignoring a major risk: Wage growth. But it may reclaim the spotlight as soon as Friday when the government releases its November jobs report. Hooper believes if the number ticks up too high, it could hint at price pressures that may shift the Federal Reserve’s thinking on
While both the U.S. and China called this weekend’s meeting on trade very successful, many Chinese-language state media left out references to a 90-day condition for both sides to agree on issues such as technology transfer. While it’s typical for there to be some daylight between governments’ spin about bilateral meetings, a host of differences
Concern about the global economy has made its way to advertising budgets. According to a new report from WPP’s GroupM, global ad spending will increase 3.6 percent, or by $19 billion, in 2019 which is lower than the company’s 3.9 percent projection from earlier this year. Growth in 2018 is also weaker than expected, rising
If you’ve stayed at a Starwood Hotel property in recent years, your personal information may have been compromised. Marriott International announced Friday that hackers had copied data from the reservation database for its Starwood Hotels brand, with unauthorized access dating back to 2014. “The company has not finished identifying duplicate information in the database, but
Competition for collectable wine can be fierce. Just ask Nicholas Paris, who holds the prestigious Master of Wine designation from the Institute of Masters of Wine in London. Paris, 42, who has worked in the wine industry for years, once helped field competing bids from two executives at major Fortune 500 firms over a bottle
Last week, Federal Reserve Chairman Jerome Powell successfully walked back his October remark that jarred investors, but it’s hardly the last challenge he’ll face to communicating the road ahead. In what was arguably his biggest test yet as Fed chief, Powell on Wednesday appeared to turn course from his initial stance that the central bank
As Amazon‘s cloud service continues to increase its market share, it’s also showing more signs of locking in customers into bigger and longer-term contracts. That trend was once again evident at Amazon Web Services’ annual re:Invent conference last week, where executives highlighted the growth in partner deal size. Partner deals typically represent multiyear contracts with
This holiday season could be a good time to knock down your student debt. Gift of College, an education registry, lets people register their student loan account, and then share their profile with friends and family who can contribute funds toward your loans. “Wouldn’t you rather get Aunt Emma to kick in toward your student
After Tiffany Ford McLemore’s car was destroyed in an accident, the single mother of four needed a new one. Quickly. Yet she didn’t want to take out another auto loan and so she researched her options. That’s when she stumbled on flexdrive, which calls itself Netflix for cars, and is one of several new companies
DataTrek Research is out with a chart suggesting stocks will struggle this month — pouring cold water on the likelihood of a “Santa Claus” rally that traditionally boosts stocks in December. According to the firm’s co-founder Nicholas Colas, it comes down to a breakdown in earnings trends and investor sentiment. He said the earnings picture
Facebook should not disband its election war room, a former Obama administration official told CNBC. Otherwise, Russia and other foreign nations could take it as a signal to ramp up disinformation campaigns on the social network. “If Facebook is not watching, Moscow, Beijing and Tehran will try to exploit that episodic engagement and achieve gains,”
Budding entrepreneurs beware. Two in 3 new businesses fail within 10 years, according to data from the Bureau of Labor Statistics. What helps the other third avoid that fate? CNBC talked to three entrepreneurs who transformed their bold ideas into multi-million dollar juggernauts. This group of business owners, all members of the Tiger 21 networking
Most people start the New Year off by resolving to do better when it comes to diet, exercise and paying down debt. Alternatively, you can take a proactive approach and reel in your finances before this year ends. (Resisting holiday treats is another story). Even with most Americans feeling more financially secure than they did
O cannabis! Jon Fortt sits down with Danny Danko, High Times Senior Editor and Adam Bierman of Medmen Enterprises to discuss. the legalization of marijuana in Canada and the impact it will have around the globe. Fortt Knox is a weekly podcast from CNBC anchor Jon Fortt . Previous episodes of the program can be
November will be a month to remember for bitcoin investors. The world’s largest cryptocurrency ended November down 37 percent, its worst drop since April 2011 when the cryptocurrency fell about 39 percent, according to data from CoinDesk. Bitcoin hit a low of $3,878.66 Friday after starting November above the $6,300 mark. The digital currency is
Will people pay to have Tiger Woods as a golf coach? Discovery, which just struck a multiyear global content collaboration deal with the 14-time major championship winner, is betting the answer to that question is yes. GolfTV, a new digital streaming service jointly created by Discovery and the PGA Tour, will feature videos fronted by