The downturn in mortgage interest rates that began in November finally has homebuilders feeling better. Builder sentiment rose 2 points to 58 in January on a monthly index from the National Association of Home Builders. This came after two months of sharp drops in sentiment to the lowest level in more than two years. The
Month: January 2019
Bitcoin’s (BTC) weekly gains were wiped out at the weekend by a key moving average that previously offered support. The leading cryptocurrency by market capitalization jumped to highs above $6,750 on Saturday, having weakened the immediate bearish case with a repeated defense of the psychological support of $3,500 last week. BTC, however, failed to secure
The University of Michigan’s preliminary January consumer sentiment index reading was 90.7, compared to the final December 98.3 and the preliminary December 97.5, according to market sources. The Institute for Social Research at the University of Michigan, which releases the consumer sentiment report. Bloomberg News The expectations index was 78.3 compared to the final December
Even with the U.S.-China trade war still raging, Chinese stocks are on fire. Increasing trade tensions between the U.S. and China through the back-half of 2018 took a sledgehammer to Chinese shares. Baidu ended the year with a 32 percent loss, while Tencent was down 23 percent, and Alibaba dropped 21 percent. However, the FXI
QuadrigaCX customers are complaining they still can’t get their money out more than a month after the cryptocurrency exchange won a court dispute that had held up $19 million of funds. While that would be worrisome enough, users’ concerns were compounded by the company’s announcement Monday that its CEO and founder, Gerald Cotten, had died
It was in the early 1990s, after three or four years as a correspondent at CNBC, that it became obvious to me: the vast majority of active managers rarely beat their benchmarks. Sure, there was Bill Miller (Legg Mason Value) and Peter Lynch (Fidelity Magellan Fund), but they were distinguished by their rarity: they were
Check out the companies making headlines midday Friday: Netflix — Shares of the video-streaming giant fell more than 2 percent after issuing weaker-than-expected guidance for the first quarter of 2019. The company also posted lighter-than-expected revenue for the fourth quarter of 2018. Schlumberger — Schlumberger’s stock rose more than 6 percent and was on track
Grayscale, a cryptocurrency investment group, has just announced that it has launched its latest fund. This new fund is dedicated specifically to Stellar (XLM). 1/ We are excited to announce two big developments! First, today marks the launch of Grayscale Stellar Lumens Trust! Investors can now gain exposure to the price movement of XLM through a
Hannah Strasser’s home in Indiana. Having a backyard was important in her home-buying decision.Hannah Strasser What do Hannah, Austin, Alexis, Logan and Taylor have in common? They were the top five names associated with the fastest levels of home sales growth in 2018. The number crunchers at realtor.com studied deed records to come up with
2 Hours Ago Microsoft President and chief legal officer Brad Smith joins CNBC’s “Closing Bell” to discuss Microsoft pledge of $500 million to tackle Seattle’s housing crisis. The pledge is the largest in the company’s 44-year history, and, according to the company, is one of the heftiest contributions by a private corporation to housing. The
With growth slowing and uncertainty in the economy, Federal Reserve Bank of New York President John Williams said Friday, data will steer his view of future Fed activity. “The economy is strong, the outlook is healthy, and my number one priority is using monetary policy to keep it that way,” Williams said in a speech
In his last book, “Stay the Course,” Jack Bogle left investors and professionals a warning about a coming battle in investment management. He had been watching closely over the past few years as a growing number of academics raised questions about the size of big passive fund managers, such as Vanguard, BlackRock and State Street
The Stock Exchange of Thailand (SET) is looking to capitalize on investor interest in cryptos by offering a new digital assets exchange. According to a report from Bangkok Post on Thursday, the SET is planning to apply for a license from the country’s Ministry of Finance to operate the platform. The move comes as the
Barring a major decline on Friday, the S&P 500 will record its fourth consecutive weekly gain. The markets are resetting. I have said this countless times: The stock market trades on estimates of a future stream of earnings, usually six months to a year out. At the end of December, the market was acting like
Stocks have gotten a boost from optimismfor U.S.-China trade talks, but earnings could take a bigger role in the week ahead, when reports roll in from a diverse group of companies in tech, railroads, pharma, airlines and consumer products. Stocks closed higher for a fourth week, amid talk the market may be getting overbought. The
There is a new malware out there to watch out for. Dubbed the Rocke Malware, this form of cryptojacking has the ability to disable cloud security software so as to illicitly mine for Monero (XMR) undetected. Rocke Malware Discovered Cybersecurity firm Palo Alto Networks is the team behind the worrying discovery. It published a report yesterday
Henry Sy, chairman emeritus of SM Investments, one of the Philippines’ largest conglomerates, died Saturday morning, according to a statement from SM. Sy had topped the Philippines Rich List for eleven years in a row. His net worth was estimated at $19 billion at the time of his passing, making him the 53rd wealthiest person in
The presidency of Donald Trump has indirectly helped the real estate market in South Florida, Miami property magnate Gil Dezer told CNBC on Thursday. Dezer, who runs his billionaire family’s real estate empire, said prices of his firm’s Trump-branded properties in Florida have been pumped up by the president’s popularity there. “We shouldn’t forget that
Signs are emerging that the futures market may not be impressed by bitcoin’s recovery from 15-months lows in December – at press time, the cryptocurrency’s spot price is currently higher than the futures price. As of writing, the global average or spot price calculated by CoinDesk’s Bitcoin Price Index (BPI) is currently $3,650 – up 16.9 percent
By Paunie Samreth and Reshmi Basu American Media Inc (AMI) executives have found themselves under a public microscope for their handling of sensitive information in 2016 about then-presidential candidate Donald Trump. CEO David Pecker – “our friend David” in Trump fixer Michael Cohen’s recorded parlance – is fending off criticism for burying a story about Trump’s extramarital
Industrial production grew 0.3% in December, the Federal Reserve reported Friday. The increase followed a revised 0.4% rise in November, first seen as a 0.6% increase. Capacity utilization grew to 78.7% in December from an upwardly revised 78.6% in November, first reported as 78.5%. Economists polled by IFR Markets projected a 0.2% increase for industrial
The next wave of earnings reports is so busy and pivotal that it could very well drive investors “crazy,” says CNBC’s Jim Cramer. But the longtime investing guru isn’t just worried about the many earnings reports coming down the pike. “I can’t recall a time when the forecast will be more important, certainly much more
Crypto exchange startup Coinbase is a hot place to work – and undoubtedly a coveted resume destination for technologists looking to advance their careers in Silicon Valley. One of the cryptocurrency industry’s few unicorns – or companies with a valuation over $1 billion (Coinbase was valued at $8 billion in its last $300 million funding
The rally may be getting ahead of itself. Downside risks are increasing. The good news: Trade talk rumors are giving another leg-up to an already-healthy rally. The bad news: The markets are now pricing in a favorable trade deal, and the markets are increasingly vulnerable to a disappointment or a “sell the news” situation. The
Compared to the rough ride down, stocks have much more quietly and gently recovered more than 13 percent of their losses from the Christmas Eve low. That’s good news for bullish investors, who expect that the turbulent Christmas lows marked the bottom of the rout that took the S&P 500 down 20 percent on an
All major cryptocurrencies are seeing red again today. This week has brought higher-than-normal volatility for most of the top digital currencies on the market, making investors scratch their heads. Today, we’ll take a look at the latest trending crypto news. Crypto News: UPS Invests in Blockchain Today, the top crypto news is surrounding the logistic
Sambuca di SiciliaSambuca Here’s the offer: A couple dozen Moorish style properties with stunning views over the Mediterranean sea, in an Italian hilltop town called Sambuca near the western tip of the Italian island of Sicily are being sold for less than a cappuccino. Sambuca’s officials want to revive a town that like so many others across Europe has seen its
With the government shutdown now in its fourth week, banks and credit unions are ramping up help to federal workers. Some 420,000 employees are considered “essential,” and are working without pay, while an estimated 380,000 others have been ordered to stay home. Colorado’s Alpine Bank has set aside $5 million to help furloughed workers. If
Bitcoin’s eight-day-long price consolidation may have weakened the prospects of a drop to December lows near $3,100. The leading cryptocurrency by market value has been restricted to a narrow range of $3,500 to $3,700 since Jan. 11. That range play is somewhat surprising, as BTC had set the stage for a quick slide toward the
John C. Bogle, the father of the retail index fund and an outspoken champion for low-cost investing that won him heroic status among individual investors, died Wednesday. He was 89. Bogle founded the Vanguard Group, the mutual fund behemoth known for inexpensive mutual funds that track a market index rather than trying to beat it.
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