Year: 2018

Investors dumped euro zone bank shares on Friday on concerns about their exposure to Turkey as the lira fell to yet another record low with a defiant government showing few signs it is ready to take decisive steps to stabilise the currency. A widening rift with the United States, its main NATO ally, and President Tayyip Erdogan’s grip on monetary policy under a new powerful executive presidency have helped to drive the lira down by more than 40 percent this year, a particular vulnerability for Turkish banks as over a third of their lending is in foreign currencies. …read more […]

Tesla’s board is reportedly talking about Elon Musk’s proposal to go private, but say they haven’t gotten any details on the deal. Yahoo Finance’s Alexis Christoforous and Rick Newman have more. …read more […]

President Donald Trump doubled tariffs on aluminum and steel imports from Turkey, deepening the currency’s losses and raising concerns that the crisis could weigh on other economies. “Problems in emerging markets are more important than ever because of the global growth engine that emerging markets have become,” Peter Cecchini, chief market strategist at Cantor Fitzgerald in New York, wrote in a note. Anytime there’s a sniff of contagion they will be weak,” said Michael Antonelli, managing director, institutional sales trading at Robert W. Baird in Milwaukee. …read more […]

U.S. President Donald Trump said on Friday he had authorized higher tariffs on imports from Turkey, imposing a 20 percent duty on aluminum and 50 percent one on steel, as tensions mount between the two NATO allies over Ankara’s detention of an evangelical pastor and other diplomatic issues. “I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar!” Trump said in an early morning post on Twitter. Trump’s announcement came less than an hour after Turkish President Tayyip …read more […]

The Turkish lira fell as much as 20% versus the dollar Friday. Trump said he would double the steel and aluminum tariff rate for Turkey. President Recep Tayyip Erdogan called on citizens to convert other currencies and gold into lira. …read more […]

Ralph Lauren, Wynn Resorts, Chemours, Pulte, Michaels, General Motors and General Electric highlighted as Zacks Bull and Bear of the Day …read more […]

Costco continues to fire on all cylinders, but the stock may be too hot to handle right now. …read more […]