The SP 500 and Dow closed lower while the Nasdaq advanced on Wednesday as investors digested the latest round of earnings, while a drop in oil prices weighed on the energy sector. Global issues and corporate earnings reports are front row in investors minds.
NEW YORK (Reuters) - The S&P 500 and Dow closed lower while the Nasdaq advanced on Wednesday as investors digested the latest round of earnings, while a drop in oil prices weighed on the energy sector.
LONDON (Reuters) - U.S. President Donald Trump is "absolutely not" trying to talk down the strength of the dollar, Treasury Secretary Steven Mnuchin was quoted as saying in the Financial Times on Wednesday.
HOUSTON (Reuters) - Exxon Mobil Corp on Wednesday declined to comment on a media report that it is seeking permission from the U.S. government to drill in several areas of the Black Sea banned by U.S. sanctions on Russia.
WASHINGTON, (Reuters) - The U.S. economy expanded at a modest-to-moderate pace between mid-February and the end of March, but inflation pressures remained in check despite more difficulties in attracting and retaining workers, the Federal
(Reuters) - Morgan Stanley surprised Wall Street on Wednesday by producing a 74 percent jump in quarterly profit on the strength of a business that analysts and investors had for years written off as dead.
LONDON (Reuters) - OPEC plans to meet with non-OPEC oil producers on the same day as its scheduled May 25 conference, sources familiar with the arrangements said, as they decide whether to extend supply cuts into the second half of the year.
NEW YORK (Reuters) - BlackRock Inc , the world's biggest asset manager, on Wednesday reported double-digit profit gains as investors plowed money into lower-cost index funds, but the company's share price slipped as revenue fell short of analysts' expectations.
(Reuters) - Martin Shkreli, the former drug company executive who drew public outcry when he raised the price of a life-saving drug by 5,000 percent, will be tried for securities fraud separately from a lawyer charged alongside him, a Brooklyn federal judge ruled Wednesday.
WASHINGTON (Reuters) - Wells Fargo & Co and its U.S. bank regulator discussed complaints of high-pressure sales tactics as early as 2010 but officials took no action for years, according to the regulator's review of the scandal.
And half the country wants government to run our healthcare.
Government is useless, incompetent, inefficient, corrupt, uncaring, and evil.
Other than that, they're just great.
and rightfully so...
WWII Veteran From Philadelphia Denied Hearing Aids, How You Can Help
By Andrew Kramer
(Photo of Alexander Horanzy provided by his granddaughter, Joyce Fiore)
PHILADELPHIA (CBS) - He risked his life to protect our country during World War II, and now, you can help make the everyday life a veteran living in Holmesburg a little easier.
A GoFundMe page was set up for Alexander Horanzy — the last remaining Pearl Harbor survivor in Philadelphia — with hopes of improving his hearing, something his granddaughter, Joyce Fiore, tells KYW Newsradio has been on the decline.
One of the horses we have beaten to death starting in 2013 (with Why The TBAC Is Suddenly Very Worried About Market Liquidity) is that the relentless growth in ETFs in particular, and passive investing in general, is one of the greatest threats facing the US equity market for one main reason: "phantom liquidity", and specifically the thought experiment, conducted back in March 2015 by Howard Marks, of what happens if and when the ETF selling begins.
This is what we said one week ago:
The relentless growth of passive investing in general, and ETFs in particular, has been extensively discussed on the pages over the past few years, most recently overnight when we presented a note from Convergex which laid out some ideas how investors can profit from the unstoppable - for now - shift from active, and expensive, management to cheaper, passive forms of asset allocation. Others, such as One River's Eric Peters gave a decidedly more downbeat outlook on what the creeping growth of ETFs means for capital markets and price formation, warning that "there is no such thing as price discovery in index investing. And there will be no price discovery on the downside either. The stocks that have been blindly bought on the way up will be blindly sold."
That simplified analysis touches on the biggest threat facing ETF investors: namely "phantom liquidity" of what has effectively become the market's biggest quasi-derivative product. In a nutshell, th ...
Despite the second slam in as many days into the London Fix...
Gold is trading near the highest in five months, and, as Bloomberg notes, at least one measure suggests the rally is gaining momentum.
Open interest, a tally of outstanding contracts in Comex futures, this week climbed to the highest since January as global tensions ranging from the U.S.-North Korea rift to European elections fuel demand for haven assets.
"The open interest went up because we had people that wanted to protect themselves against all the uncertainty," said Frank Cholly, a senior market strategist at RJO Futures in Chicago.
With the US seeking to slow the mounting losses by the Afghan military in the southern Helmand Province, the Pentagon has announced a deployment of roughly 300 US Marines to the province, with the fighters expected to arrive by the end of the month.
The deployment marks the largest single deployment of US Marines in occupied Afghanistan since 2014, which reflects the Afghan military's growing woes in combat. These troops will join smaller numbers the US had already deployed into the area, who were nominally "advisers."
And while officially, the new Marines are also "advise-and-assist" troops that are being sent in a non-combat role, Col. Matthew Reid confirmed that the Marines are always deployed "with a combat mindset." Given how poorly the Afghan military has done on its own, it wouldn't be surprising to find the Marines in combat situations.
Large numbers of US and British soldiers were deployed in Helmand earlier in the war, but o ...
When a company unveils a 1 billion special dividend, punchy new margin targets and quarterly earnings a fifth above forecasts, you might expect its shares to leap. The exception, as Akzo Nobel showed, is when the announcement is designed to block a takeover.
President Trump took credit in an early-morning tweet for forcing a runoff in Georgia's special election, signed a bill he said would give veterans more choices in health care and hosted the New England Patriots at the White House.
The dollar advanced on Wednesday, but briefly surrendered some of its gains in afternoon trading after a report from the Federal Reserve suggested the outlook for the U.S. economy isn't as rosy as it was earlier in the year.
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