Tuesday, January 19

Tag: Business

The wealthy are investing like a market bubble is here, or at least near
Business news

The wealthy are investing like a market bubble is here, or at least near

If an investor with $1 million or more in the market thinks that a stock bubble is already here — or soon enough one will be coming — what is the correct response? According to a new survey from E-Trade Financial, the answer is to keep investing in stocks, with more emphasis on undervalued sectors of the market.Only 9% of millionaires surveyed by E-Trade think the market is nowhere near a bubble. The rest of the affluent investor set:16% think we're "fully in a bubble" 46% in "somewhat of a bubble" 29% think the market is approaching oneYet these affluent investors are not running from the market, or parking money in cash. In fact, amid rising bubble fears these same investors say their risk tolerance has increased, significantly, in the first quarter of 2021, and the m...
Stocks making the biggest moves in the premarket: GameStop, Tesla, Nordstrom & more
Business news

Stocks making the biggest moves in the premarket: GameStop, Tesla, Nordstrom & more

Take a look at some of the biggest movers in the premarket:GameStop (GME) – GameStop is jumping once again in premarket trading after surging the past three days in what some analysts are calling a short squeeze. The video game retailer's stock was up more than 57% in Wednesday's session alone. The stock is up 21% in premarket trading as of 7:36 a.m. ET.BlackRock (BLK) – The asset management firm reported quarterly profit of $10.18 per share, beating the consensus estimate of $9.14 a share. Assets under management surged to a record high of $8.68 trillion. The shares added 1% in premarket trading as of 7:36 a.m. ET.Delta Air Lines (DAL) – Delta reported a loss of $2.53 per share for the fourth quarter, slightly larger than the loss of $2.50 anticipated by Wall Street analysts. As D...
Stocks are set to resume 2021 gains with Dow futures up 60 points
Business news

Stocks are set to resume 2021 gains with Dow futures up 60 points

U.S. equity futures were slightly higher early Tuesday after breaking a winning streak as investors grew worried about stocks' stretched valuations.Dow futures pointed to an opening gain of about 50 points. S&P 500 futures and Nasdaq 100 futures also traded in positive territory.On Monday, equities dipped as investors evaluated lofty stock valuations amid recent record highs, seemingly disregarding the backdrop of Covid-19 and political turmoil.On Monday, the Dow Jones Industrial Average lost nearly 90 points, dragged down by a 2.3% drop in Apple's stock. The S&P 500 dipped 0.66%The Nasdaq Composite was the relative underperformer, dipping 1.25% as Facebook, Amazon, Netflix, and Google-parent Alphabet all closed lower.Tesla closed down 7.8% for its first negative day in...
Stock futures flat after Monday’s session breaks winning streak
Business news

Stock futures flat after Monday’s session breaks winning streak

U.S. equity futures were flat in overnight trading on Monday after breaking a win streak as investors grew worried about stocks' stretched valuations.Dow futures rose 5 points. S&P 500 futures popped 0.02% and Nasdaq 100 futures rose 0.08%.On Monday, equities dipped as investors evaluated lofty stock valuations amid recent record highs, seemingly disregarding the backdrop of Covid-19 and political turmoil.On Monday, the Dow Jones Industrial Average lost nearly 90 points, dragged down by a 2.3% drop in Apple's stock. The S&P 500 dipped 0.66%The Nasdaq Composite was the relative underperformer, dipping 1.25% as Facebook, Amazon, Netflix, and Google-parent Alphabet all closed lower.Tesla closed down 7.8% for its first negative day in 12 and worst day since Sept. 23DoubleLi...
House Democrats introduce impeachment article against Trump for inciting Capitol attack
Business news

House Democrats introduce impeachment article against Trump for inciting Capitol attack

U.S. House of Representatives Speaker Nancy Pelosi holds a news conference at the U.S. Capitol following the 2020 U.S. presidential election in Washington, U.S., November 6, 2020.The House moved closer Monday to impeaching President Donald Trump an unprecedented second time, this time for inciting his supporters who invaded the U.S. Capitol during Congress' electoral vote count last week.Democrats introduced an article of impeachment Monday that charges Trump with high crimes and misdemeanors for whipping up an insurrection and disrupting the peaceful transfer of power. The chamber will take two separate steps to try to spur Trump's removal, according to the office of House Majority Leader Steny Hoyer, D-Md.First, the House plans to pass a resolution Tuesday night calling on V...
JPMorgan and Citigroup join U.S. corporations halting political donations after Capitol riot
Business news

JPMorgan and Citigroup join U.S. corporations halting political donations after Capitol riot

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., second left, listens during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, April 10, 2019.JPMorgan Chase and Citigroup are among first major financial firms to say they will pause political action committee donations after followers of President Trump laid siege on the U.S. Capitol last week.JPMorgan, the biggest U.S. bank by assets, is pausing contributions for Republicans and Democrats for "at least" the next six months, spokesman Steve O'Halloran said. The New York-based bank will use that time to consider changes to its political-donation strategies."The country is facing unprecedented health, economic and political crises," said Peter Scher, JPMorgan head of corporate resp...
Hyundai Motor says it’s in early talks with Apple to develop a car, sends shares soaring 19%
Business news

Hyundai Motor says it’s in early talks with Apple to develop a car, sends shares soaring 19%

"We understand that Apple is in discussion with a variety of global automakers, including Hyundai Motor. As the discussion is at its early stage, nothing has been decided," a representative from Hyundai Motor told CNBC's Chery Kang.The statement followed a local report from the Korea Economic Daily that said Apple suggested the tie-up and Hyundai Motor was reviewing the terms. The report said both electric vehicle production as well as battery development were included in the proposal, and that the car could potentially be released in 2027.Apple declined to comment on the report.Hyundai later released an updated statement that avoided the mention of Apple and said, "We've been receiving requests of potential cooperation from diverse companies regarding development of autonomous...
Stock futures flat after S&P 500 suffers first negative start to a year since 2016
Business news

Stock futures flat after S&P 500 suffers first negative start to a year since 2016

Stock futures held steady in overnight trading on Monday after the S&P 500 suffered its first decline to start a year since 2016.Futures on the Dow Jones Industrial Average rose 40 points. S&P 500 futures and Nasdaq 100 futures both gained 0.2%.The moves in futures came after a sharp sell-off on Wall Street to kick off 2021. The S&P 500 fell 1.5%, posting its worst daily performance since Oct. 27. Ten out of 11 S&P 500 sectors registered losses, led by real estate.The blue-chip Dow shed 382 points after tumbling as much as 700 points at its low of the day. The Nasdaq Composite declined 1.4% as the FAANG block all slumped to start the new year.The broad market sell-off occurred ahead of Tuesday's Georgia runoff elections, which will determine whether Republicans can ...
Wall Street begins 2021 with sell-off, Dow dropping more than 600 points
Business news

Wall Street begins 2021 with sell-off, Dow dropping more than 600 points

Stocks dropped on Monday, the first trading day of 2021, amid concerns about global coronavirus cases and the Georgia runoff elections.The Dow Jones Industrial Average traded 664 points lower, or 2.2%. The S&P 500 dipped 2.3%, and the Nasdaq Composite slid 2.4%. Both the Dow and S&P 500 hit record highs at the open.The Dow and S&P 500 were on pace for their biggest one-day sell-off since Oct. 28, while the Nasdaq was headed for its worst daily performance since Oct. 30."In my day I've seen a lot of wild rallies with a lot of mispriced stocks, but there is one thing they all have in common. Eventually they hit a wall and go into a major painful correction," billionaire investor Carl Icahn told CNBC's Scott Wapner on Monday.Coca-Cola and Boeing were the worst-performing...
Beijing threatens to take ‘necessary measures’ in response to NYSE delisting of 3 Chinese companies
Business news

Beijing threatens to take ‘necessary measures’ in response to NYSE delisting of 3 Chinese companies

Flags of U.S. and China are displayed at American International Chamber of Commerce (AICC)'s booth during China International Fair for Trade in Services in Beijing, China, May 28, 2019.China vowed on Saturday to respond to the delisting of three telecommunications giants by the New York Stock Exchange under an executive order signed by President Donald Trump in November.The ministry of commerce said in a statement that China will "take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises," according to the state-run Global Times.The NYSE said on Thursday that it will delist China Telecom Corp. Limited, China Mobile Limited, and China Unicom Hong Kong Limited. Trump signed an order in November that barred Americans from investing ...