The Federal Reserve says it could speed up interest-rate hikes because of Donald Trump’s tax cuts. Members of the central bank still think there will be three interest-rate hikes in 2018, according to minutes released Wednesday from the December Federal Open Market Committee meeting. The S&P 500 has gone 382 days without a 5% pullback. … Read more
Gets close to the 2017 high price at 1.2092 The EURUSD is trading at new session highs at 1.20838. In the process, the price is approaching the high price from 2017 at 1.20921. A move opens the door for further upside momentum. Yesterday the pair corrected but could not get below the 1.2000 level . … Read more
U.S. manufacturing expanded in December at the fastest pace in three months, as gains in orders and production capped the strongest year for factories since 2004, the Institute for Supply Management said Wednesday. Highlights of ISM Manufacturing (December) Factory index climbed to 59.7 (est. 58.2) from 58.2 a month earlier; readings above 50 indicate expansion … Read more
The major indices continued their march higher in 2018, with new records across the board. Stocks were up nicely in the morning. But in the afternoon there was a pause as traders digested the December Fed Minutes. The minutes showed that most Fed members feel the tax cuts will boost consumer and capital spending. Most members also … Read more
Rite Aid Corporation (RAD) is the third largest U.S. drugstore chain, serving communities primarily on the East Coast. Rite Aid has 4,621 locations in 31 states, and its shares were weak in 2017 as Walgreens Boots Alliance, Inc. (WBA) reduced the number of stores that it would purchase. Rite Aid stock closed Tuesday at $2.13, … Read more
Tesla is set to report its fourth-quarter deliveries this week, and equity investors are taking no chances. They’ve ratcheted up short interest — a measure of bets a stock will fall — by $6 million, or 22%, over the past three months leading up to the announcement, according to data compiled by financial analytics firm … Read more
When this New York millionaire went public with this controversial Amazon prediction… He received hundreds of hate tweets. They’ve accused him of “pulling a stunt…” And called him “fake news guy” and a “con artist.” But now some recent news involving Amazon has vindicated him… This “smoking gun” proves this could change the retirement of millions … Read more
The temperature may be frigid across much of the nation, yet home prices are sizzling and sellers are in the hot seat. Sales prices jumped 7 percent annually in November, according to a new report from CoreLogic. That is the third straight month at that pace, far higher than the price gains in the first … Read more
Bitcoin’s value grew by more than 1,000% in 2017, but that wasn’t enough to even place it among the 10 best-performing cryptoassets of the year. In a breakout year for cryptocurrency trading, the biggest winners were Ripple, which is touted as a new kind of payment system for banks, along with less familiar names like … Read more
It’s no secret to market watchers that the Nasdaq has seen a monster year, up nearly 30 percent year to date and on pace for 14 months of nearly uninterrupted gains. But there’s one more record to add to the books: the technology-heavy index is on pace for its sixth straight positive year, its longest … Read more