Trump Rally carries Dow, Transports to new record close, 12th since election. Wall Street stormed higher as investors shake off Trump-inspired health-care drop. "It appears that nothing can stop the equity rally," said Naeem Aslam, chief market analyst at ThinkMarkets UK, in a note. However, some strategists and traders are concerned that a pullback might be in the offing because the market has climbed too fast and too furiously.
NEW YORK (Reuters) - Wall Street surged on Wednesday, with the Dow industrials and S&P 500 hitting fresh records, as equities continued their march upward after the presidential election of Donald Trump and a new high for transportation stocks added to the bullish tone.
WASHINGTON (Reuters) - AT&T Inc's planned $85.4 billion acquisition of Time Warner Inc will increase innovation and bring "better-priced options" to consumers upset by high cable bills, AT&T Chief Executive Randall Stephenson told lawmakers on Wednesday.
WASHINGTON (Reuters) - A U.S. bank regulator is ready to fail Wells Fargo on a national scorecard for community lending, sources familiar with the decision said on Wednesday, in a move that could limit near-term expansion for the bank.
NEW YORK (Reuters) - President-elect Donald Trump took aim at drugmakers on Wednesday by promising in a magazine interview that "I'm going to bring down drug prices," sending shares of pharmaceutical and biotechnology companies lower.
SINGAPORE (Reuters) - Oil major BP is shipping almost three million barrels of U.S. crude to customers across Asia, pioneering a lengthy and complex operation likely to become more popular after OPEC last week announced deep production cuts.
NEW YORK (Reuters) - Oil prices slid on Wednesday on bearish U.S. petroleum inventory data and doubts that production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years.
WASHINGTON (Reuters) - U.S. President-elect Donald Trump on Wednesday defended his direct interventions with companies, including making statements on Twitter, saying businesses will benefit from his actions and his upcoming term in office.
DETROIT (Reuters) - Ford Motor Co by Wednesday had released for sale more than half of the 15,000 F-150 pickup trucks with 10-speed transmissions that were held to ensure quality, a company spokeswoman said.
PARIS (Reuters) - Canada is set to select Airbus Group to provide search-and-rescue (SAR) aircraft, a source familiar with the matter said on Wednesday, with Airbus beating Italy's Leonardo in winning the deal.
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
Dangerous consolidation of the media is a trend that has been discussed by many people on many occasions, and many of us by now have heard the stat that in the U.S. just six media giants control 90% of all TV, news, radio and film. Now that Comcast is set to buy Time Warner, the situation is about to get that much worse.
Many people write about the struggle between "liberty" and "tyranny," including myself, but these may not be the most effective terms to use in order to explain the troubling situation we face to a wider audience. Unfortunately, when people hear the words "liberty" the knee-jerk reaction for many is to associate it with right-wing "conspiracy theorists." Of course, it is "conspiracy fact" that a small handful of corporations and the executives that run them control more and more of our daily lives. In other words, the forces of "tyranny" use "centralization" as their primary weapon of choice in order to control us. Those of us who long for "freedom" and "liberty" must use "decentralization" as our primary tool to fight back and win.
- From the 2014 post: The Comcast/Time Warner Merger and the War Between Centralizat ...
Huffington Post's Senior Enterprise Editor, Nick Baumann, sent a tweet just over a month ago that he probably wishes he could take back...or maybe not, they say there's no such thing as bad publicity after all.
The following tweet was sent by Baumann on Halloween and references destroying Trump ballots at a Washington D.C. polling station. Unfortunately, while Baumann said the whole thing was just a "joke about fake news," the FBI took it a bit more seriously.
@lachlan i love my job working at a voting site in washington dc destroying trump ballots
— Nick Baumann (@NickBaumann) October 31, 2016
Just 4 days later, according to an article published by Baumann today on Huffington Post, he received a call from the FBI to followup on his tweet. While he dismissed the call as a "prank" by a disgruntled reader (of which we're sure he has many), it turned out to be quite real.
On Nov. 4, I received a call from someone who said he was an FBI agent and wanted to speak to me. I figured it was a prank. I get a lot of hate emails and angry voicemails, and I dismissed the insane possibility that the FBI would investigate an obvious joke on Twitter. I would've called back anyway, just to be sure. But it was right before the election, and I forgot about it.
Then, on Monday, a month later, I received a followup message. It was the same person. I ...
Submitted by Thad Beversdorf via FirstRebuttal.com,
So today on CNBC Cisco CEO, Chuck Robbins explained that if they were to repatriate their offshore cash back to the US he would use the money to reward shareholders through buybacks and dividends and then do some M&A.
He claims cash distribution to shareholders in lieu of actual economic-stimulating investments creates jobs by way of mutual funds, which make the soon to be out of work Americans from his M&A activity feel good about their income....
I mean where does one even begin picking apart this absurdity of logic?? It probably is not even worthy of a detailed response. But I wanted to note, on record, that these are the type of moronic and asinine thought processes coming out of corporate America that are killing the American middle class and will destroy even most on top unless the bottom 80% are handed a stipend to go out and buy products produced by corporations. If Chuck truly believes what he says, well he is an idiot. If he has even a shred of economic acumen then he is a liar. I'll leave it to you to decide.
But before you decide let me show you a few charts. First chart below depicts real total wages and salaries (i.e. labor income) as a multiple of real corporate dividends paid. You will notice the multiple peaks at 24x in 1975, averages 20x from1950 through 1990 and bottoms today at 8x.
"Don't fight the trend" is an often-used expression on Wall Street. Most recently, casting a dubious eye on what has amounted to a spectacular rise for equity markets since Donald Trump became president-elect in November has been a costly enterprise.
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