US wholesale inventories increase solidly in February
U.S. wholesale inventories increased a bit less than initially estimated in February, but still suggested that inventory investment would contribute to economic growth in the first quarter after being a drag on output in the prior period. The Commerce Department...
Like flu season, the ‘infectious’ spread of bitcoin could be over, Barclays says
In order to value bitcoin and predict future prices, analysts at Barclays came up with a model that likens it to an infectious disease. Like flu season, the mania around cryptocurrency and subsequent price spikes could be coming to an...
American companies in China have much at stake in the trade dispute
If the Trump administration wins some concessions from China in the latest trade dispute, it could be a boost to U.S.-based multinationals. “The upside could be big because business as usual wasn’t getting the job done in opening up the...
BofA market analyst Hartnett pins ‘simple reason’ for market woes on the Fed
While conventional wisdom focuses on trade and inflation as sources of market tumult, Michael Hartnett, chief investment strategist at Bank of America Merrill Lynch, sees the Fed as the real source. The U.S. central bank has been on a course...
Auto imports from Mexico climb as NAFTA negotiators appear close to new agreement
With indications growing that the United States, Mexico and Canada are close to agreeing on a framework for altering the North American Free Trade Agreement, the Mexican auto industry is exporting vehicles to the U.S. at a record pace. New...
Yellen and other economists say tax cuts are blowing up the budget
Last year’s aggressive tax cuts are at the heart of a worsening budget situation that will see deficits surge in the years ahead, according to an op-ed by former Fed Chair Janet Yellen and others. The essay, published in Sunday’s...
Bank of America: Tech stocks could be headed for regulatory-driven collapse similar to tobacco and banks
Washington’s increased scrutiny of technology giants could spell trouble for their stocks, if history is any guide. Technology is the least regulated industry sector, with just 27,000 regulations versus 215,000 for manufacturing and 128,000 for the financial sector, according to...
Bitcoin tanks below $7,000, down 6% in two hours
Bitcoin dropped more than 6 percent over two hours Monday, below $7,000 as the April tax-filing deadline approaches. The cryptocurrency hit a low of $6,646.07 as of 3:49 p.m. ET Monday, according to data from CoinDesk. Bitcoin prices have fallen...
Former ‘super bull’ sours on economic growth, sees ‘good old fashioned slowdown’ ahead
One of Wall Street’s veteran economic forecasters is toning down his economic growth forecast. The Economic Cycle Research Institute’s Lakshman Achuthan told CNBC his leading indicators are pointing to a slowdown that’s picking up momentum — highlighting one particular trend...
SEC takes aim at controversial crypto-company Longfin, freezes $27 million in proceeds from insider stock sales
The U.S. Securities and Exchange Commission obtained an emergency freeze of $27 million in trading profits involving the CEO of cryptocurrency company Longfin and three other people, the agency said in a statement Friday. Longfin’s stock was halted on the...
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