Finance

RBC cuts S&P 500 forecast for 2018 as political obstacles for stocks ‘pile up’

RBC Capital Markets trimmed its year-end target for the S&P 500 to 2,890 from 3,000, as it sees a tougher road for the market to post gains. “The list of political obstacles for stocks has continued to pile up and seems unlikely to improve anytime soon,” Lori Calvasina, the investment bank’s head of U.S. equity strategy, wrote in a note Tuesday. Calvasina noted some of the obstacles include the potential for greater regulation in tech, a Democratic sweep in the November midterm elections and a trade war with China. Tech is down nearly 7 percent over the past month, after a scandal in which political research firm Cambridge Analytica was able to gather personal information from millions of Facebook users without their consent. Cambridge Analytica has denied any wrongdo...

10 high-paying jobs that let you see the world

If your work or school schedule leaves you little time to pursue your passion for travel, you might find yourself dreaming of a job that lets you see the world. The good news is you don’t have to take a job as a hostel host, seasonal cruise ship staffer or some other position that provides a paltry paycheck. In fact, there are quite a few high-paying jobs in other industries that require travel. Click through to discover some unique, top-paying jobs that will support your wanderlust and allow you to live decent lifestyle. More from GOBankingRates:15 odd jobs that pay insanely well 15 high-paying careers that won’t kill you 7 bizarre ways people earn a living around the world Although there are plenty of positions for people with advanced language skills who want to work in dome...

Goldman Sachs cuts Tesla price target, predicts Model 3 disappointments and capital raise

Goldman Sachs still isn’t convinced Tesla will be able to meet even its Model 3 production targets. “We believe the sustainable production rate for the second quarter of 2018 is most likely below the 2,000 vehicle mark the company achieved in the final week of the [first] quarter,” Goldman analyst David Tamberrino wrote Tuesday. “We see the company likely sustaining Model 3 production around the 1,400 per week mark.” Tesla’s share price, which has declined 3 percent this year, is closely related to Model 3 production. So when the carmaker reiterated its production target of 5,000 Model 3 sedans per week by the end of June, shares popped. But while the stock is up nearly 20 percent since the announcement last Tuesday, Goldman analysts remain unconvinced, ...

Denver Post Takes A Page From Argentina

Not empty yet, but working on it. By David Shankbone [CC BY 3.0], from Wikimedia Commons Cristina Kirchner is no longer the leader of a sovereign nation, and her successor quickly made peace with Paul Singer, so it’s been a while since we’ve heard the epithet “vulture” thrown in the general direction of a hedge fund with real feeling. So it was refreshing to see Sunday’s editorial in the Denver Post. Alden has embarked on a cynical strategy of constantly reducing the amount and quality of its offerings, while steadily increasing its subscription rates. In doing so, the hedge fund managers — often tellingly referred to as “vulture capitalists” — have hidden behind a narrative that adequately staffed newsrooms and newspapers can no longer survive in the digital marketplace. Alden is Alden Gl...

Mark Zuckerberg will win by keeping the focus away from Facebook’s business model

Facebook founder and CEO Mark Zuckerberg is going to be hammered with questions from lawmakers Tuesday and Wednesday in Washington. If he can keep the conversation focused on data privacy, he’ll emerge a winner. That’s because Facebook’s real bugaboo isn’t privacy at all. The biggest potential threat to Facebook — along with Alphabet — would be if Congress focuses on how much those two dominate the modern-day advertising market. The two companies accounted for 73 percent of all U.S. digital advertising in the second quarter of 2017, according to a December note to clients from Pivotal analyst Brian Wieser. That’s probably not healthy for competition as digital advertising explodes. It is estimated to be at $300 billion by 2020 as half of all global ad dollars ...

Mark Zuckerberg will win today by keeping the focus away from Facebook’s business model

Facebook founder and CEO Mark Zuckerberg is going to be hammered with questions from lawmakers Tuesday and Wednesday in Washington. If he can keep the conversation focused on data privacy, he’ll emerge a winner. That’s because Facebook’s real bugaboo isn’t privacy at all. The biggest potential threat to Facebook — along with Alphabet — would be if Congress focuses on how much those two dominate the modern-day advertising market. The two companies accounted for 73 percent of all U.S. digital advertising in the second quarter of 2017, according to a December note to clients from Pivotal analyst Brian Wieser. That’s probably not healthy for competition as digital advertising explodes. It is estimated to be at $300 billion by 2020 as half of all global ad dollars ...

Here are the highlights of the market-moving speech by China’s Xi and the US stocks that could benefit

In a wide-ranging speech Tuesday, Chinese President Xi Jinping laid out plans for several key areas to make the domestic economy more accessible to foreign businesses. His remarks at the Boao Forum for Asia alleviated market fears about a U.S.-China trade war and U.S. stocks soared more than 1 percent in the open. While Xi has addressed these areas of reform previously, Tuesday’s comments contrasted with defensive statements from the Chinese Ministry of Commerce last week in the wake of escalating trade tensions with the U.S. Here are some of the highlights of Xi’s remarks, and some U.S. industries or companies that may benefit: “China does not seek [a] trade surplus. We have a genuine desire to increase imports and achieve greater balance of international payments under ...

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 end. “Like infection, transmission – especially to those with ‘fear of missing out’ – is by word-of-month, via blogs, news reports and personal anecdotes,” Barclays analyst Joseph Abate wrote in a note to clients Tuesday. “However, once full adoption is approached, the price decline is sustained and rapid.” Bitcoin has fallen by more than 50 percent in 2018, trading near $6,742 as of 8:48 a.m. ET after starting this year above $14,000, according to data from CoinDesk. The cryptocurrency rose more than 1,300 percent last yea...

Big banks have found a new way to stay in the subprime lending business

Big Wall Street banks have found a way to continue funneling money to high-risk borrowers — by lending to other institutions who make the so-called subprime loans. Wells Fargo, Citigroup and others pushed $345 billion to nonbank lenders, sometimes called “shadow banks,” from 2010 to 2017, according to a Wall Street Journal analysis published Tuesday. Since the financial crisis, banks have gotten out of the subprime business as regulators have pushed for institutions to lower their risk profiles. One way to continue in the business has been by serving as a third party to the loans. Banks insist that the loans are safer than direct subprime transactions. Wall Street was burned during the crisis when a wave of high-risk borrowers defaulted and caused securities that bundled the lo...

Your first trade for Tuesday, April 10

The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of IBM. Karen Finerman was a buyer of Citigroup. Brian Kelly was a buyer of SPDR Gold Shares. Guy Adami was a buyer of Las Vegas Sands. Trader disclosure: On April 9, 2018, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s “Fast Money” were owned by the “Fast Money” traders: Pete Najarian is long calls AAPL, ALB, AEO, AIG, AKS, BAC, BEL, C, CI, CLF, COP, CRM, CTL, EEP, FB, FEYE, GM, HD, HIG, IBM, INTC, KMB, LUV, MLCO, MSFT, NEM, OIH,OLN, SLV, SVU, X, XHB, XLF.Pete is long stock AAPL, ATVI, BAC, BKE, C, DLTR, FUL, GM, HLT, IBM, INTC, KMB, KMI, KMX, KO, LOW, LVS, MRK, MSFT, MU, PEP, PFE, PG, PII, STZ, TGT, TPX, UFS, UPS,...

Goldman shares to jump nearly 20% as rates rise, investment banking booms: Bernstein

Investors should buy Goldman Sachs stock as rising interest rates and rebounding revenue put the bank in the “early innings” of a new growth story, according to Bernstein. Investment banking, management and lending have overtaken trading as Goldman’s leading source of revenue, wrote analyst Christian Bolu, who initiated coverage at outperform. “We believe the revenue recession that has plagued Goldman Sachs shares is at an inflection point,” Bolu said in a note Monday. “We see in the current cycle many of the ingredients (rising rates, benign credit conditions and deregulation) that drove institutional brokerage stocks to significantly outperform during the 2003 – 2006 cycle.” Goldman’s trading business has recently struggled, with fixe...

It’s time to ditch these 5 common excuses and start saving money now

Having to constantly hand over cash for endless necessities is just part of being an adult. Mortgage or rent, food, roof repairs, surgery for your dog (these are some of my own recent budget line items) … The list goes on and on. With all that going on, it can become easy to make excuses as to why you’re not saving. But setting aside money is crucial — for an emergency fund, education and retirement. Here are some common roadblocks to saving that I learned about from a few financial experts, along with their tips on how to get over the hump and just start saving now. Excuse #1: I know I should be saving, but I just don’t know how to get started. Here’s how to get past that. “Kick-starting your savings is surprisingly simple,” said Madeline Daniels, communicati...