It’s a correction, right? Just like August. That was last week’s conventional wisdom, and that was before the S&P 500’s downdraft drove it 10 percent off its highs and wiped away 6.2 percent since the year began. The velocity and pain of the move, however, has more than a few market pros questioning whether the sell-off is really the start of a new bear market. Jason Hunter, technical analyst at JPMorgan, provided some insight on how to tell the difference between a bull market correction and the start of a bear market. [“source -cncb”]
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Wells Fargo posted mixed quarterly results on Friday morning, as profit slightly beat expectations but sales failed to top Wall Street’s estimates. The banking giant reported fourth-quarter diluted earnings of $1.03 per share on $21.6 billion in revenue. Its net income of $5.7 billion was flat from the previous year, while sales rose 1 percent. Analysts expected Wells Fargo to report earnings per share of $1.02 on revenue of $21.8 billion, according to a Thomson Reuters consensus estimate. Its shares fell more than 3 percent on Friday. Wells Fargo CFO John Shrewsberry told CNBC he did not know yet how…
As global stocks sell off, one overseas currency has been picking up steam. The Japanese yen has risen 3 percent against the U.S. dollar this year, and it’s one of the best-performing currencies of the year. According to Kathy Lien of BK Asset Management, the yen tends to outperform in times of trouble because of its widespread use as a funding currency. Because the Japanese government has kept interest rates near zero for years, the yen has been a cheap source of borrowed money to put toward more speculative trades, Lien said. But as economic uncertainty has rocked markets around…
BlackRock Chairman and CEO Larry Fink said Friday the stock market could fall another 10 percent and oil prices could test $25 per barrel. “We’re in the midst of a real market decline, bordering on a bear market,” he told “Squawk Box” on CNBC. “But the speed at which this is happening is just a reassessment of the risk, reassessment of where we’re going.” Read MoreBob Doll: I don’t see a bear market, but … U.S. stock futures were crumbling Friday morning, with Dow futures down nearly 300 points, as oil tanked. The resumption of the decline follows Thursday’s sharp…
The National Retail Federation said Friday that holiday sales increased 3 percent to $626.1 billion in November and December, falling short of the trade group’s forecast for 3.7 percent growth, as unseasonably warm weather and low prices weighed on results. The news came shortly after the Commerce Department said retail sales posted an unexpected drop in December, falling 0.1 percent from the previous month. Compared with the prior year, December sales rose 2.2 percent, to $448.1 billion, according to the government data. During the October to December period, total sales rose 1.8 versus the prior year, according to the department.…
BlackRock Chairman and CEO Larry Fink issued a retort Friday to critics of exchange-traded funds, making his case for why ETFs present less risk than mutual funds. “Let me talk about what ETFs did in the periods of real turmoil,” Fink told CNBC’s “Squawk Box.” He cited the performance of BlackRock’siShares iBoxx $ High Yield Corporate Bond ETF during the rough patch for junk bonds. “Our high-yield ETF during [that] two-week period of time, we had $20 billion worth of buy and sells … [and] we had $1 billion in redemptions,” he said. “What that tells us is that ETFs…
Some not-insignificant part of me had, I guess, assumed that first-THQ-then-Crytek-now-Deep Silver’s Homefront: The Revolution was a strictly-singleplayer affair. I don’t knowwhy I assumed this, exactly. Maybe one part “They’d only showed us singleplayer” and another part “Most B-tier shooters die on the vine.” Suffice it to say, I was pretty surprised when Deep Silver reached out to show me more of this new Homefront last week and I was told we’d be seeing multiplayer. Four-person cooperative multiplayer, to be exact. You say you want a revolution Conceptually, it makes sense. Homefront: The Revolution is all about a homegrown guerrilla…
Sony has reached an agreement to acquire chip company Altair Semiconductor in Israel for US$212 million in a bid to strengthen its offering for the Internet of Things market. Altair is a developer of modem chip technology and software relating to the LTE (Long Term Evolution) 4G cellular standard for mobile phones and data terminals, which Sony aims to combine with its sensing technologies such as GNSS (Global Navigation Satellite System) and image sensors to develop new cellular-connected, sensing devices. Sony expects LTE, which is already used in data communication for mobile phones, to play a key role in IoT…
Intel has just started shipping some of its fastest laptop chips to date, meaning new powerful laptops should soon be on the market. The new chips include Core i7 Skylake processors, as well as mobile Xeon chips that are headed for portable workstations used by engineers. Intel shipped the first laptop Skylake chips last year, but they were for mainstream and entry-level laptops. These new chips, just added to Intel’s price list, are aimed at the high end. The fastest of the bunch, at 2.8GHz, is the quad-core Core i7-6970HQ, which has 8MB of cache and a list price of…
It’s hard to imagine that Gmail for Android could make managing your messages any easier. But as with its desktop counterpart, there are plenty of surprises under the hood if you know where to look. Use these five tricks and tweaks to master your inbox. Gmail for Android makes it easy to add non-Gmail accounts. Add other email accounts The Gmail app is designed to work best with Gmail accounts, but that doesn’t mean you can’t use others as well. To add an Outlook or Yahoo account, swipe left in the Gmail app to open the menu, and tap the…