Finance

Oil about to get bullish, but stocks another story: Analyst

On Friday, U.S. Brent crude hit a fresh 12-year low as fears that the lifting of Iranian sanctions could flood an already oversupplied market for crude. In spite of the sell-off, the man who correctly saw the steep market correction in August told CNBC that investors would be smart to buy oil at these levels — and short the stock ... Read More »

THIS will bring oil producers to their knees: Kilduff

With crude futures trading below $30 per barrel, analyst John Kilduff said Friday that prices will spiral even lower before they bounce. The most bearish outlooks now see oil bottoming around $10 per barrel. While those estimates sound crazy, the long-awaited recovery will not come until the market finds a price that will finally persuade drillers to turn off the ... Read More »

Investor optimism falls to 2005 low: Survey

The year is only two weeks old but investors are already down in the dumps. (Tweet This) Global equity markets kicked off 2016 on the wrong foot as concerns over a slowdown in China, as well as plunge in oil prices, have weighed. The S&P 500 has shed about 9 percent this year and has teetered in and out of ... Read More »

How to tell a bull correction from a bear market

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 ... Read More »

Wells Fargo shares fall on mixed results

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 ... Read More »

This could be the new currency to watch

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 ... Read More »

Prepare for stocks to fall another 10%: Larry Fink

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 ... Read More »

Holiday sales fall short of forecasts: NRF

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 ... Read More »

Mutual funds riskier than ETFs: BlackRock CEO Fink

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 ... Read More »

Citigroup earnings slightly ahead of expectations

Shares of Citigroup fell sharply Friday despite the company reporting better-than-expected quarterly results. In late-morning trading, the stock was down more than 7 percent. The banking giant posted adjusted earnings per share of $1.06 and revenues of $18.64 billion for the previous quarter. Analysts had expected Citigroup to report earnings of about $1.05 a share on $17.87 billion in revenue, ... Read More »