The market (well, the S&P 500 anyway) tried all week long to get over a key technical hump, but it just didn't happen…. unless you're talking about the NASDAQ Composite, in which case it did happen. Of the two indices, that's the one you want to lead. Sooner or later though, the S&P 500 will have to follow through. It...
By Victor Reklaitis, MarketWatch Stocks could slump as President-elect Trump becomes President Trump. That’s starting to sound like practically the consensus view. The Trump rally could fizzle as the new commander-in-chief faces the “hard task of actually governing,” as one strategist put it. Stocks tend to strengthen in the two weeks after Inauguration Day, but one-month returns are typically negative,...
Despite falling short of revenue expectations last quarter, and back-sliding on one key measure, Bank of America (BAC) has pressed into new 52-week high territory on Friday following the release of its fourth quarter numbers. For the quarter ending in December, earned 40 cents per share on revenue of $20.0 billion. Those figures were up 48% and 2.2%, respectively, on...
By Justina Lee, Bloomberg As China’s yuan swings back into the global spotlight, it might seem like an odd time for authorities in Beijing to loosen their grip on the tightly-managed currency. Yet for a growing number of analysts and investors, the prospect of a freely floating yuan — a Chinese exchange rate wholly determined by market forces — is...
By Justina Lee, Bloomberg As China’s yuan swings back into the global spotlight, it might seem like an odd time for authorities in Beijing to loosen their grip on the tightly-managed currency. Yet for a growing number of analysts and investors, the prospect of a freely floating yuan — a Chinese exchange rate wholly determined by market forces — is...
By Alex Rosenberg, CNBC After seven years of the S&P 500 crushing non-U.S. stocks, international equities are about to stage a big comeback. At least, that's what technical analyst Jonathan Krinsky predicts. The MSCI All-World Ex-U.S. index has lagged the S&P 500 in each year since 2010, for the longest streak of underperformance since the former index was created in...
By Alex Rosenberg, CNBC After seven years of the S&P 500 crushing non-U.S. stocks, international equities are about to stage a big comeback. At least, that's what technical analyst Jonathan Krinsky predicts. The MSCI All-World Ex-U.S. index has lagged the S&P 500 in each year since 2010, for the longest streak of underperformance since the former index was created in...
Despite most of the media's (and most of the pundits') unwillingness to acknowledge it, the biggest drag on crude oil prices hasn't been too much supply. It's been the incessantly rising value of the U.S. dollar. Up 27% since the middle of 2014 — spooky by ForEx standards — and reaching new multi-year highs in late December, the U.S. Dollar...
Despite most of the media's (and most of the pundits') unwillingness to acknowledge it, the biggest drag on crude oil prices hasn't been too much supply. It's been the incessantly rising value of the U.S. dollar. Up 27% since the middle of 2014 — spooky by ForEx standards — and reaching new multi-year highs in late December, the U.S. Dollar...
By Annie Pei, CNBC The U.S. dollar surged to its highest level in years in 2016, but Todd Gordon of TradingAnalysis.com believes the greenback rally could be on its last legs. "The dollar's had an amazing run to the top side on the back of the Fed beginning to normalize interest rates," Gordon said Monday on CNBC's "Trading Nation." "But...
