U.S. government debt prices were slightly lower Monday as volatility in equity markets began to fade. The yield on the benchmark 10-year Treasury note was seen trading higher at around 3.061 percent, while the yield on the 30-year Treasury bond was barely moved at 3.311 percent. Bond yields move inversely to prices. Bond markets typically
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Even if the market sell-off worsens, one of Wall Street’s biggest bulls says now is not the time to turn negative. Canaccord Genuity’s Tony Dwyer considers it his most important investment advice in this wild market. “I’ve been one of the biggest bulls during throughout this entire cycle,” he said last week on CNBC’s “Trading
Bitcoin and other notable cryptocurrencies rose in value on Monday after a brutal week for the nascent market. The world’s best-known and most-valuable digital currency climbed back above the $4,000 mark late Sunday, according to CoinMarketCap data. Its price fell as low as $3,447.58 on Sunday, as investor angst over the cryptocurrency’s plunge worsened. However,
Investors looking for a year-end strategy may want to consider some beaten-down sectors. Historically, those that have lagged the broader market in first 11 months of a year tend to turn around in the subsequent trading year, according to analysis from Jefferies. “Lagging groups in one year do not tend to lag in the next,”
Stocks have been getting pummeled lately but they could recover some of those losses over the next month, if market history is any indication. The Dow Jones Industrial Average, S&P 500, Nasdaq 100 and Russell 2000 indexes all typically climb between Thanksgiving and Christmas Eve, according to data from Kensho. The Dow has averaged a
Check out the companies making headlines before the bell: Amazon.com, Walmart, Macy’s, Target – These and other retailers are on watch as shopping results from the holiday weekend – including Black Friday – roll in. Preliminary reports show strong sales with a greater emphasis than ever on online shopping and less on in-store traffic. General
SpaceX founder and CEO Elon Musk said there is a “70 percent” likelihood that he will personally go to Mars, speaking in an interview with Axios published Sunday. Musk’s rocket company has “recently made a number of breakthroughs that I am just really fired up about,” he said. He did not elaborate on those new
Campbell Soup announced on Monday the terms of a truce it has reached with Third Point, which will add two of the activist fund’s nominees to its board, former Blue Buffalo CEO Kurt Schmidt and Comscore President Sarah Hofstetter. Campbell shareholders are set to meet on Thursday. The settlement marks a muted victory for Dan
Cyber Monday sales are on pace to hit $7.8 billion by the end of the day, Adobe Insights revealed Monday morning, making it the largest online shopping day in U.S. history. That projection, made by the firm at 10:30 a.m. ET, would represent an increase of 18.3 percent compared with the same time last year,
Facebook is shutting down the “War Room” it built ahead of midterm elections, and won’t reopen it for future elections, according to a report from Bloomberg. The War Room was part of Facebook’s ongoing efforts to contain the spread of misinformation and abusive content on the platform. Foreign accounts were first found to have interfered
Oil producers across North America may be looking at dialing back their investment plans amid plummeting oil prices in recent weeks, but BP’s Middle East chief is unfazed. The British oil giant has planned its investments with a wide price range in mind, accounting for drops like November’s, BP Middle East President Michael Townshend told
Mitsubishi said on Monday its board removed Carlos Ghosn from his role as chairman, following his arrest and ouster from alliance partner Nissan last week for alleged financial misconduct. Ghosn’s ouster marks the end of his chairmanship of Japanese automakers, just two years after he was praised for bringing a steadying hand to Mitsubishi Motors
CVS Health and Aetna have received the final state approval they need to complete their roughly $69 billion merger and now expect the deal to close “on or about” Nov. 28, the companies said Monday in regulatory filings. The companies had been expecting to finalize the merger by Thanksgiving. However, a handful of the 28
General Motors plans to dramatically cut production at a number of plants in Ohio, Michigan, Maryland, and Ontario, Canada in 2019 and reduce its salaried workforce by 15 percent in a massive restructuring that will cost up to $3.8 billion, the company said Monday. This story is developing. Please check back for updates.
For decades now, the health-care industry, government and society have grown accustomed to a model for how diseases are treated. Scientists achieve a medical breakthrough, the biopharmaceutical industry develops a medicine, a doctor diagnoses a patient and the patient goes on a course of treatment that can last for years or a lifetime. This model
The Food and Drug Administration is overhauling the most common way medical device manufacturers bring their products to market in an attempt to advance new technologies. Since 1976, manufacturers have been able to pursue an expedited approval process if they could prove new products were substantially equivalent to those that were grandfathered in when Congress
How General Electric (GE) resolves its debt problem will be “critical” to the wider Investment Grade (IG) market, an analyst said Monday. The General Electric Company has witnessed an exodus of investment from both its equity stock and corporate debt as its future has been called into question. The U.S. behemoth has piled on the
After a search that’s lasted nearly 10 months, Airbnb finally has a CFO. The home-sharing start-up announced Monday that Dave Stephenson will join Airbnb as chief financial officer. He spent 17 years at Amazon, most recently as VP and CFO of Amazon’s Worldwide Consumer Organization, responsible for all global website sales. His time at Amazon
When you get married, the tax system can be either friend or foe. Many couples see their tax burden go down when they tie the knot. Yet some end up paying more than if they had remained unmarried and filed as single taxpayers. “It’s more typical for people to have a marriage bonus, but there
Parents often open savings accounts for their children. Few think of starting a retirement account for a 10-year-old. The idea isn’t so farfetched. Any parent, grandparent, aunt, uncle or family friend can open a Roth individual retirement account to help a child invest for the future. Think money from tutoring, babysitting, mowing lawns or even
Bitcoin had a rough weekend. Coming off a week of heavy losses, bitcoin fell 10 percent and set a fresh low at $3,447.58 on Sunday, according to data from CoinDesk. This is the cryptocurrency’s lowest level since September 2017. Over seven days, bitcoin has now lost more than 35 percent of its value, according to
Traffic might appear lighter at some malls this holiday season, but that’s because people are shopping on their smartphones. Mobile spending during the holidays is expected to continue to climb this year, as retailers have been investing to improve their apps, and shoppers are growing more comfortable with ringing purchases up in just a few
Bill Gates said it would be unfortunate to see the U.S. miss out on the economic opportunity related to cutting greenhouse gas emissions. Gates, a cofounder of Microsoft, is among the world’s most prominent climate advocates, in addition to his work around preventing infectious diseases and other causes. On Sunday he shared some of his
Tesla almost died earlier this year, CEO Elon Musk said Sunday night in an interview with Axios that aired on HBO. Musk said the company was “bleeding money like crazy” as it worked through the Model 3 production ramp in the spring and summer. He said the company “came within single-digit” weeks of death before
Campbell Soup is working towards a deal with Third Point that would add two of the activist fund’s nominees to its board, former Blue Buffalo CEO Kurt Schmidt and Comscore President Sarah Hofstetter, a person familiar with the situation told CNBC on Sunday. As part of the deal, Campbell would expand the size of its
Whether you’d like to give away several thousand bushels of soybeans or a prehistoric fossil, there just might be a charity that’s willing to receive it. Year-end tends to be a busy time for individuals who are in a giving mood. Donors seeking a break on their 2018 taxes must make their charitable contributions before
The CEO of Guggenheim Partners and his business associates are pledging more than $20 billion of their personal wealth to backstop insurers associated with the firm should they experience financial troubles, according to a Wall Street Journal report. The highly unusual arrangement, detailed by The Journal in a published report on Saturday, comes six years
Black Friday pulled in a record $6.22 billion in online sales, up 23.6 percent from a year ago, according to a new report. The Friday after Thanksgiving this year was also the first day in history to see more than $2 billion in sales stemming from smartphones, said Adobe Analytics, which tracks transactions for 80
Foot traffic at malls and stores across the U.S. this past holiday weekend wasn’t as strong as last year, a retail tracking firm said Saturday, while a separate report suggested more consumers opted to shop online. Preliminary data tracking shoppers’ visits to physical stores Thanksgiving Day and Black Friday showed a year-over-year decline of 1
There’s something about that smell, that new car smell, said Jeff Diesing a sales consultant at Chelsea Chevrolet Buick outside of Ann Arbor, Michigan. To people shopping for a new car, it’s almost like they’re sniffing the turkey as it cooks in the oven on Thanksgiving Day, he said. “It’s very distinctive and, in general,