U.S. equity: 38 percentInternational equity: 34 percentU.S. fixed income: 23 percentOthers: 5 percentSource: ETF.com Not surprisingly, high yield bond ETFs (HYG) saw outflows, but they were modest. Mexico ETFs were also a loser (a reverse Trump trade). Gold miners also saw outflows, and despite talk of an infrastructure plan, utilities and transports both had negative
The Vietnam Stock Index increased 46.9 percent year-to-date as investors bought into the country’s rapidly-growing economy. The country is technically still classified as a frontier market by MSCI, but has been working on improving accessibility to foreign investors as it tries to get an upgrade to emerging market status. Besides encouraging local companies to publish
For the newly-minted Asia guru at Pimco, there couldn’t be a better time to be in Asia as the region’s strong growth story extends beyond China. India, for instance, is a country with high growth, high rates and a stable currency that is attractive to fixed income investors, said the portfolio manager. Over in Southeast
For a market dependent on synchronized global growth, investors may be betting too much that China will not rock the boat next year. Part of the S&P 500’s rally to record highs this year comes on the back of better economic growth around the world. A major contributor to that growth was stability in China
Check out the companies making headlines after the bell Thursday: Apple stock dipped slightly after the bell. The tech giant on Thursdays issued an apology to customers, after reports emerged that Apple introduced software that intentionally slows-down iPhones with older batteries. Shares of Mosaic rose more than 1.6 percent in relatively light volume after hours.
In economic news, the advance trade deficit in goods increased to $69.7 billion in November from $68.1 billion in October. Weekly jobless claims came in at 245,000 versus expectations of 240,000. The Chicago PMI for December rose to 67.6, its highest since March 2011, according to Reuters. The 2-year Treasury yield was little changed near
The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of PepsiCo. Tim Seymour was a buyer of Western Digital. Rich Ross was a buyer of United Rentals. Dan Nathan was a buyer of Broadcom. Trader disclosure: On December 27, 2017, the following stocks and commodities mentioned or
Bitcoin fell Thursday after the South Korean Financial Services Commission took more steps to limit speculation in cryptocurrency trading in the country. The digital currency hit a low of $13,611.86, down 11 percent on the day, according to CoinDesk’s bitcoin price index, which tracks prices from four exchanges. Bitcoin traded near $14,000 midday Thursday, still
Banks are starting to headhunt actively again after years being fairly passive following the global financial crisis, a prominent recruiter said on Thursday. This time however, their focus will be on digital and fintech staff, said Declan O’Sullivan, managing director of search firm Kerry Consulting. The rising influence of digital and banking-specific technology — so-called
Spencer Platt | Getty Images News | Getty Images Traders work on the floor of the New York Stock Exchange on January 31, 2014 in New York City. Check out the companies making headlines after the bell: Digirad stock shot up close to 18 percent in the extended session. The health-care imaging company announced it
Amazon’s robust holiday sales bode well for a fourth-quarter beat and show the e-commerce giant’s “significant momentum” heading into 2018, according to one Wall Street firm. GBH Insights reiterated its “highly attractive” rating for Amazon shares, citing the growing success of the company’s Prime membership platform. “Our surveys continue to indicate that Prime membership remains
There have been doubts about whether proceeds from Chinese green bonds are used to finance projects that truly help the environment. For instance, the People’s Bank of China and the National Development and Reform Commission allow green bonds to fund “clean” coal projects — something that many regulators overseas would not allow, according to a
Check out the companies making headlines after the bell Tuesday: Energous stock surged more than 65 percent after the bell. The charging technology company announced it received Federal Communications Commission approval for its propriety WattUp transmitter. The much-hyped router purports to charge devices wirelessly, using Radio Frequency projections. The certification is the first of its
U.S. stock index futures pointed to a mostly lower open Tuesday as shares of Apple dropped in premarket trading. The iPhone maker’s stock fell more than 2.5 percent in premarket trading following a report from Taiwan’s Economic Daily, citing unidentified sources, that Apple will slash its sales forecast for the iPhone X by 40 percent
After rallying to a record high above $19,800 midway through December, bitcoin prices collapsed last Friday. The digital currency lost a third of its value in a single day, briefly sinking below $11,000 before regaining some of the ground it lost. Bitcoin traded at $15,185 on Tuesday, according to Coinbase. “For experts that have been
If the cryptocurrency boom goes bust, Wells Fargo Securities believes stocks could easily get dragged into the chaos. Christopher Harvey, the firm’s head of equity strategy, is paying close attention to the unprecedented activity in what could be one of the most epic bubbles of all time. “There is a significant amount of froth in
Yes, it’s a bull on a goddamn pogo stick, vaulting over a bear. Talk about tempting fate… But so what. If fading this cover is your idea of “managing money”, maybe retire. If mocking it is your idea of cleverness, delete your account. It’s an old joke that hasn’t been funny in a decade. Here’s
The Wells Fargo Investment Institute sees the tax overhaul as a game changer. Scott Wren, the firm’s senior global equity strategist, says there’s a high probability the stock market could see a 10 percent gain or more next year because it’s single-handedly lengthening the recovery. “This tax package is definitely a kicker, and it’s going
Royal Bank of Scotland Group will pay $125 million to resolve claims that it made misrepresentations while selling mortgage-backed securities to two large California pension funds, the state’s attorney general has announced. The settlement announced on Friday by California Attorney General Xavier Becerra was the latest by RBS aimed at resolving claims stemming from its
A skeptic doesn’t need to be a political partisan to wonder about the Wells Fargo claim that the tax cuts made all the difference. In fact, Wells Fargo provided reason to doubt its intentions as it stumbled in getting the minimum wage message out. Just look at this Los Angeles Times story from Thursday: Wells
The only major Wall Street strategist to formally cover bitcoin raised his price target on the digital currency the day of a massive price rout. “We are buyers of bitcoin on this pullback,” Fundstrat co-founder Tom Lee said in a Friday note. “The intrinsic/fundamental value of bitcoin has risen in the past month given the
Bitcoin soared above $19,800 on Sunday and was trading near $15,500 for much of Thursday New York time, according to Coinbase. On Friday morning, bitcoin dropped to a low of $10,400 on Coinbase. It had recovered above $13,500 by Friday afternoon. The market action on Friday led to buying and selling being temporarily disabled for
Getty Images A computer screen at the Cboe Global Markets exchange (previously referred to as CBOE Holdings, Inc.) shows Bitcoin cash and futures prices on December 19, 2017 in Chicago, Illinois. Cboe Global Markets has applied with the SEC to list six bitcoin-related exchange-traded funds as the company bets further on the emerging new asset
Bitcoin hit a record high above $19,800 Sunday but had plunged 47 percent from that level to a low of $10,400 on Coinbase Friday in a volatile trading session. The former Fortress macro hedge fund manager said on CNBC’s “Fast Money” on Dec. 12 that he was going to launch his fund at the end
Bank of America will give some of its employees a $1,000 bonus, citing the tax bill that was just signed into law. “Beginning in 2018, we will see benefits from the tax reform … in the form of lower corporate tax rates,” CEO Brian Moynihan said in an internal memo to employees obtained by CNBC.
The interview was published Wednesday on the business school’s YouTube channel. It is not clear when exactly the event was held, but the video has largely gone unnoticed with roughly 7,000 views as of Friday morning. The billionaire investor further explained why bitcoin is not a replacement for gold: “You know it is one thing
However, the declines followed a volatile few days for cryptocurrencies. The bitcoin offshoot, bitcoin cash, soared to record highs above $4,000 Wednesday, as crypto-marketplace Coinbase made a rocky attempt to make it possible for people to buy and sell the digital currency. However, bitcoin and bitcoin cash fell Thursday, and losses accelerated in the evening.
Most people including traders are not very good at making predictions, even just a year ahead. But Art Cashin has had a reasonably strong track record. (Read Cashin’s 2018 outlook here.) On December 14, 2016, I sat down with Art at Bobby Van’s for our annual look-ahead. The discussion was dominated by the election of
Fred Dufour | AFP | Getty Images A Chinese woman reacts while setting up the facial recognition feature on her iPhone X inside an Apple showroom in Beijing on November 3, 2017. Apple’s iPhone X is not only pushing existing customers in China to adopt the new luxury phone, but is even causing people to
Anthony Kwan | Bloomberg | Getty Images Roger Ver, chief executive officer of Bitcoin.com. “Whereas if they’re stuck on your own phone or your own computer and everybody’s running for the door … it will be too late at that point to move your own bitcoins from your own wallet onto an exchange,” he said.