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Monthly Archives: January 2018

Best Buy slips after Telsey cuts rating

Brendan McDermid | Reuters Shoppers at a Best Buy store in Brooklyn, New York. Best Buy stock slipped Thursday after a top retail brokerage firm downgraded shares on fears that Wall Street has already priced in the store’s rebound. Telsey Advisory Group cut its rating to market perform from outperform, …

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European Central Bank leaves its benchmark interest rate unchanged

Emmanuel Dunand | AFP | Getty Images ECB President Mario Draghi reacts as he delivers a speech during a meeting of the Committee on economic and monetary affairs (ECON) at the European Parliament, in Brussels, on May 29, 2017. The European Central Bank (ECB) left its benchmark interest rate unchanged …

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What will Trump say at WEF

Nicholas Kamm | AFP | Getty Images The ‘Marine One’ helicopter carrying US President Donald Trump comes in to land in Davos on January 25, 2018. U.S. President Donald Trump has arrived at the Davos ski resort for the World Economic Forum (WEF) on Thursday morning where he is expected …

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Caterpillar earnings Q4 2017

Monica Almeida | Reuters Traffic is diverted on Foothill Road as workers place K-rail barricades along burn areas during a winter rain storm in Ventura, California, January 9, 2018. Caterpillar is expected to report its fourth-quarter earnings before the bell on Thursday, following an exceptionally strong third quarter in which …

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Mnuchin says ‘dollar is not a concern of mine,’ supports free trading in currency markets

Andrew Harrer | Bloomberg via Getty Images Steven Mnuchin, U.S. Treasury secretary, speaks during an Economic Club of Washington conversation in Washington, D.C., U.S., on Friday, Jan. 12, 2018. Treasury Secretary Steven Mnuchin said Thursday that he spends little time thinking about dollar weakness over the short term, on the …

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China says cooperation is only the ‘correct direction’ for China-US trade ties

Thomas Peter | Pool | Getty Images U.S. Commerce Secretary Wilbur Ross in Beijing on November 9, 2017. China’s commerce ministry said on Thursday cooperation is the only “correct direction” for the China-U.S. trade relationship, amid growing trade frictions between the world’s two biggest economies. Commerce ministry spokesman Gao Feng …

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European markets open mixed as investors look to the ECB for clues on bonds

Krisztian Bocsi | Bloomberg | Getty Images European Central Bank President Mario Draghi at a press conference in Frankfurt, Germany, on January 19, 2017. U.K. Prime Minister Theresa May is expected to address the World Economic Forum’s Annual Conference at Davos, Switzerland, Thursday afternoon. Global trade advocate Emmanuel Macron spoke …

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Oil CEO cheers historic OPEC deal despite it impacting ‘selfish’ companies like his

Andy Buchanan | AFP | Getty Images Patrick Pouyanne, Chairman and CEO of French energy company Total visits the Shetland Gas Plant on May 16, 2016, in the Shetland Islands. Patrick Pouyanne, chief executive of oil giant Total, told CNBC Wednesday that international oil markets were rebalancing thanks to the …

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Ford has not done enough to be ‘fit’ says CEO Jim Hackett

Mandel Ngan | AFP | Getty Images Ford Motor Company President and CEO Jim Hackett speaks during a keynote address during CES 2018 in Las Vegas on January 9, 2018. Ford still has work to do to be a truly “fit” company, said CEO Jim Hackett on Wednesday. The second-largest …

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Dollar tanks the most in 10 months after Mnuchin says weak dollar is good

Jason Alden | Bloomberg | Getty Images Steven Mnuchin, U.S. Treasury secretary, center, arrives for a press briefing on day two of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, Jan. 24, 2018. European Central Bank President Mario Draghi also speaks Thursday after an interest rate meeting, and …

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