Finance

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
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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
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Minneapolis Federal Reserve President Neel Kashkari told CNBC on Friday that central bankers should not raise rates when job creation continues to be strong and inflation remains tame. At this point, the Fed should pause on rate increases, Kashkari said, adding that hiking too forcefully before necessary could risk causing a recession in the U.S.
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Lemonade, a U.S. home and renters insurance start-up, is making Europe its first global expansion target. The New York-based firm uses artificial intelligence (AI) and chatbots to tailor insurance products for homeowners and tenants on its platform. In an announcement Thursday, the company said the move abroad will come “soon,” but did not specify what
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Cryptocurrency enthusiasts have been eagerly awaiting the approval of what would be the first-ever bitcoin exchange-traded fund, or ETF. But the man largely behind greenlighting one — Securities and Exchange Commission Chairman Jay Clayton — has a few worries that need to be assuaged before he’s “comfortable” approving the investment vehicle. The first is a
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Check out the companies making headlines after the bell: Apple slipped about 1 percent in after-hours trading Monday. President Donald Trump suggested in an interview with The Wall Street Journal that the U.S. could levy tariffs of 10 percent on iPhones and laptops imported from China. Earlier Monday, U.S. Supreme Court justices seemed skeptical of
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United Technologies announced late Monday that it intends to separate into three companies: United Technologies, Otis and Carrier. The industrial giant has scheduled an investor call for Tuesday at 8 a.m., ET. Shares of United Technologies gained more than 2 percent in after-hours trading. Activist investor Dan Loeb had pushed for United Technologies to split
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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,
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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
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Check out the companies making headlines before the bell: Facebook – The head of George Soros’s philanthropic foundation called for oversight of Facebook by lawmakers, following revelations that it had hired an opposition research firm to scrutinize the billionaire investor. Patrick Gaspard made his feelings known in a tweet, in which he accused Facebook of
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China‘s massive consumer base is feeling a chill that could have ripple effects throughout an economy that’s already under pressure. While analysts say individuals are generally financially healthy, many are holding off on spending due to uncertainty about the future. “A decline in consumption is the biggest risk, because everyone already knows about the decline
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