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Monthly Archives: February 2018

‘I love energy,’ says trader who sees buying opportunity in the space

Energy stocks have been slammed over the past week as volatility returned to Wall Street. The XLE Energy ETF may have gotten a bad rap, though, according to two market watchers who see a potential buying opportunity amid the weakness. “You want to buy the oil names here. I love …

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Bitcoin’s correlation with stocks jumps to 2-year high

Bitcoin’s ties to the performance of U.S. stocks appears to be increasing. On a 90-day basis, the correlation between the daily percent returns of the cryptocurrency and the S&P 500 is 33 percent, the highest since the cryptocurrency started gaining public attention in January 2016, according to Nick Colas, co-founder …

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How do you like your eggs, Norway? By the thousand…

Francois Lenoir | Reuters Team Norway will be eating a lot of eggs this winter olympics after 15,000 eggs were delivered instead the 1500 they wanted. (File photo) Egg sandwiches. Bacon and eggs. Egg salad. Eggs on toast. Scrambled eggs, or fried. After taking receipt of 15,000 eggs instead of …

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Watch for defense stocks to rally if this bipartisan spending deal passes

Washington’s bipartisan spending bill significantly increases defense funding, a provision that likely spells wider profits for the country’s arms manufacturers. The deal will also remove a yearly overhang on the sector. The deal proposed in the Senate would raise spending caps by about $300 billion over two years and bump …

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California gives coastal states blueprint to block offshore drilling

However, California has another trick up its sleeve: a federal law called the Coastal Zonal Management Act. The law, designed to boost federal and state cooperation in managing the nation’s waters, gives states authority to review offshore federal and industrial activity that could impact their local environment. The law was …

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A fundamental change is underway in the financial markets

Aaron P. Bernstein | Reuters Federal Reserve Chairman Jerome Powell arrives to take the oath of office at the Federal Reserve in Washington, U.S., February 5, 2018. Restating this point, for a decade there has been a great deal of money around at real prices below zero. This era is …

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Global stock sell-off was an inflection point to a ‘big bear market,’ strategists warn

Michael Nagle | Bloomberg | Getty Images A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Feb. 5, 2018. The dramatic stock market sell-off earlier this week should be viewed as a turning point, according to analysts. “Our ongoing concerns …

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Knock knock … Who’s there? Taco Bell

Jin Lee | Bloomberg | Getty Images A trader works next to a Grubhub Inc. paper bag on the floor of the New York Stock Exchange (NYSE) in New York. The owner of KFC and Taco Bell is teaming up with Grubhub to expand home delivery. Yum Brands and said …

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CVS hikes wages and announces Q4 earnings

Shannon Stapleton | Reuters A CVS Pharmacy store is seen in the Manhattan borough of New York City, New York, U.S., November 30, 2017. CVS Health will increase employee pay and offer benefits to some employees using windfall from the new tax law. CVS will increase pay for hourly employees …

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Storm to clobber US Midwest with snow, wind and frigid temps

Getty Images Commuters brave sub-zero temperatures as they make their way to work in the Loop on January 2, 2018 in Chicago, Illinois. A storm is expected to clobber Chicago, Detroit, and Milwaukee with heavy snow, gusty winds and freezing temperatures that will slow travel for millions of commuters on …

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