Author: FC

Trump proposes $100 billion in additional tariffs on Chinese products

President Donald Trump on Thursday said he has instructed the United States Trade Representative to consider $100 billion in additional tariffs against China. “In light of China’s unfair retaliation, I have instructed the USTR to consider whether $100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products upon which to impose such tari...

Market volatility is reminiscent of the 1987 crash: Veteran trader Art Cashin

Veteran trader Art Cashin says this year's market volatility is reminiscent of the 1987 stock market crash.

Toys R Us bankruptcy created ‘the perfect storm’ for Ollie’s Bargain Outlet, says CEO

Since its 2015 public offering, Ollie’s Bargain Outlet Holdings has gained traction in the market. So when Toys R Us liquidated its U.S. business in March, Ollie’s CEO Mark Butler seized the day. “I think this is the perfect storm for us,” Butler, also the chairman of Ollie’s, told CNBC’s Jim Cramer in a Thursday interview on “Mad Money.” For Ollie&#...

March hiring was strong, even with wacky weather, and wages could surprise

Economists expect to see strong hiring and steady wage growth in the March employment report, but markets are bracing for a surprise pop in wages. It was the surprise jump in January wages that sent markets into a tailspin in early February, kicking off two months of volatility that has since been fed by trade war fears and a tech sell-off. According to Thomson Reuters, economists expect to see 19...

After-hours buzz: PSMT, URBN, FE & more

Check out the companies making headlines after the bell: PriceSmart shares popped 4 percent after hours. The warehouse club operator reported earnings and revenues that surpassed analyst estimates. Warehouse sales were also up 6 percent this quarter. Urban Outfitters stock fell over 1 percent in extended trading. The clothing retailer announced the departure of David McCreight, President of URBN a...

Jamie Dimon’s Presidential Campaign Platform Makes For A Quasi-Interesting Annual Shareholders Letter

We’re not saying that Jamie Dimon isn’t a competent multitasker, but we are saying that he needs to be more careful about not mixing up the “Dimon_2020” and “WorkStuffz” folders on his computer desktop. Dimon’s annual letter to JPMorgan shareholders came out this morning, and while it’s not abnormal for The Khaleesi of Wall Street to opine on government policy in his yearly epistle, Jamie went abs...

Bitcoin exchange Coinbase launches early-stage venture fund

Popular cryptocurrency exchange Coinbase is launching a new incubator fund for early-stage start ups, the company announced Thursday. “We’re going to invest off our balance sheet into crypto companies,” Coinbase President and Chief Operating Officer Asiff Hirji told CNBC’s “Fast Money” Thursday. “We will invest in companies that are in the space and are al...

Don’t expect a strong jobs report: Former NY Fed member

The U.S. jobs market startled everyone last month with its blockbuster February report of 313,000 new jobs, compared with the 205,000 expected. But the growing job market may soon be cooling down, said Robert Brusca, founder and chief economist at Fact & Opinion Economics, a consulting firm. “I’m not that optimistic,” the Wall Street veteran, told CNBC’s “Power Lu...

Attack on Saudi tanker signals escalation in Yemen war, and it could mean higher oil prices

An attack on a Saudi super tanker by Yemen’s Houthis this week signals further escalation in the efforts to take the war in Yemen directly to Saudi Arabia and its oil facilities. Saudi Arabia entered the war three years ago, but the proxy battle between it and Iran has so far not added much of a premium to the price of oil. However, that could change if the Iranian aligned Houthis are more s...

Does Anyone Running Hyundai Want To Go To Jail?

Since the clock struck midnight on Jan. 1, Paul Singer has certainly been a busy boy. He’s trolled the bitcoin bros, bought a life insurance company, and found a couple of companies in need of some new leadership—his, specifically, in one case. And that’s just his domestic activities. For 2018 has truly been a cosmopolitan year for Elliott Management’s brand of shareholder activism. He’s threatene...