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Stock market news live: Stocks open little changed before U.S.-China deal signing
Headlines moving the stock market in real time. …read more […]
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Business News
Wall Street set to open lower as investors weigh trade deal, earnings
U.S. stocks were set to open lower on Wednesday ahead of the release of details of an initial U.S.-China trade deal, with investors also digesting the latest earnings reports from big U.S. banks.
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Big banks post mixed results as earnings season rolls on
Earnings season rolls on for big banks with Goldman Sachs and Bank of America both posting earnings reports for the quarter today. Yahoo Finance’s Emily McCormick joins Alexis Christoforous and Brian Sozzi to discuss the results on The First Trade. …read more […]
Business News
China’s Liu says to work with U.S. to achieve tangible results after Phase 1 deal: Xinhua
Chinese Vice Premier Liu He said Beijing and Washington will work together following the signing of the Phase 1 trade deal to obtain tangible results, China’s official Xinhua news agency reported on Wednesday.
Business News
U.S. producer prices barely rise as services remain subdued
U.S. producer prices edged up in December as a rise in the cost of goods was offset by weakness in services, the latest indication of tame inflation pressures that could allow the Federal Reserve to keep interest rates unchanged this year.
Business News
BlackRock beats profit estimates as assets swell to record $7.43 trillion
BlackRock Inc , the world’s largest asset manager, beat analysts’ estimates for quarterly profit on Wednesday, helped by strong flows into its exchange-traded fund business that boosted overall assets under management to a record $7.43 trillion.
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Goldman Sachs: 3 5G Stocks to Snap Up Now
In a set of interesting reports, Goldman Sachs telecom expert Brett Feldman turns his eye on the American wireless market – and its growing rollover to 5G technology. Feldman notes five reasons why 5G will drive a period of sustained growth for companies with an ‘in.’ While the analyst focuses on tower-leasing REITs, his basic point applies to most companies with a strong connection to the 5G switchover: wireless providers, device makers, chip makers.A look at three of Feldman’s points outlines what we can expect in the next couple of years, as 5G networks expand across the country. First, he …read more […]
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BofA Joins Wall Street’s Trading Comeback; Consumer Unit Slips
(Bloomberg) — Bank of America Corp.’s traders bounced back with their peers.Trading revenue climbed 13% to $2.86 billion, beating analysts’ $2.76 billion estimate, helped by fixed income, currencies and commodities activity. The fourth-quarter results echo those of JPMorgan Chase & Co., which posted a record performance in bond trading Tuesday, and Citigroup Inc., where debt trading jumped by more than double what analysts had forecast.“Our results continue to reflect the strength of the U.S. consumer in the biggest economy in the world,” Chief Executive Officer Brian Moynihan said on a conference call with analysts Wednesday. “This quarter is also one …read more […]
Business News
OPEC expects lower demand for its oil as U.S. hits new milestone
OPEC expects lower demand for its crude oil in 2020 even as global demand rises, it said on Wednesday, as rival producers grab market share and the United States looks set for another output record.
Business News
Bank of America beats on bond trading boost, loan growth
Bank of America Corp beat analysts’ estimates for quarterly profit on Wednesday, as a boost from bond trading and growth in its loan book helped the second-biggest U.S. lender blunt a hit from lower interest rates.
Business News
Oil slips on doubts about U.S.-China deal, OPEC outlook
Oil prices slipped on Wednesday on concerns that the Phase 1 trade deal between the United States and China, the world’s biggest oil users, may not boost demand as the United States intends to keep tariffs on Chinese goods until a second phase.
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AdvisorShares CEO says 2020 'could be a good year' for cannabis
Despite waning investor optimism in the cannabis space, AdvisorShares CEO Noah Hamman says 2020 could be a big year for the sector. …read more […]
Business News
Goldman Sachs profit misses estimates on higher costs, weak M&A
Goldman Sachs Group Inc on Wednesday reported quarterly profit that missed analysts’ estimates by a wide margin, hurt by weakness in its investment banking business and higher operating costs.
Business News
Futures mostly lower as investors assess U.S.-China trade deal, earnings
U.S. stock index futures were marginally lower on Wednesday ahead of the release of details of an initial U.S.-China trade deal, with investors also digesting the second round of bank earnings after a strong set of reports on Tuesday.
Business News
Target blames toys, electronics for weak holiday sales, shares fall 8%
Target Corp said on Wednesday it missed its own expectations for holiday season sales, citing weak demand for toys and electronics for growth of just 1.4% and dragging shares across the retail sector lower.