1:11 p.m. Today1:11 p.m. Feb. 19, 2020
- By Joy Wiltermuth
Cracks in the $1.3 trillion auto-finance market aren’t curbing investor demand for risky debt Investors are snapping up risky subprime auto bonds at ultralow yieldsSubprime auto bonds with “junk” BB-ratings are fetching yields of only about 3.5%, versus 9% four years ago, even though late-stage auto loan delinquencies are piling up.
12:49 p.m. Today12:49 p.m. Feb. 19, 2020
Why a Top World Stock Fund Likes Microsoft, Alibaba, and Johnson & Johnson
Virtus Vontobel Global Opportunities has notched stellar performance by consistently seeking out quality companies whose growth can continue.
12:17 p.m. Today12:17 p.m. Feb. 19, 2020
- By Jacob Passy
This diet will help reduce your risk of heart disease and fewer people are having trouble paying their medical bills Wednesday's top personal finance stories Wednesday's top personal finance storiesWednesday's top personal finance stories
12:14 p.m. Today12:14 p.m. Feb. 19, 2020
UBS to name ING's Ralph Hamers as CEOUBS Group AG Chief Executive Sergio Ermotti is stepping down and will be succeeded by current ING Groep NV boss Ralph Hamers, a person familiar with the matter said Wednesday, marking another leadership change at a major Swiss bank.
11:32 a.m. Today11:32 a.m. Feb. 19, 2020
- By Rachel Koning Beals
Where Bloomberg, Sanders, Warren and 2020 Democrats stand on climate change From a Green New Deal to abandoning oil drilling and pricing carbon, the candidates consider climate a priorityThe field of Democrats looking to beat President Donald Trump this year — including the six on the stage Tuesday night — are aligned in their pledge to rejoin the Paris Climate Agreement. Most candidates want to end new fossil-fuel leasing on public lands and several are critical of fracking. A few have latched onto the Green New Deal.
11:09 a.m. Today11:09 a.m. Feb. 19, 2020
- By Greg Robb
Fed officials more upbeat about the economic outlook this year, minutes show Indicators of recession risk were no longer flashing concernFederal Reserve officials and the central bank’s staff said the economy was stronger than had been expected in late January, according to minutes of their policy meeting released Wednesday.
10:57 a.m. Today10:57 a.m. Feb. 19, 2020
- By Sunny Oh
Treasury yields inch higher after Fed minutesTreasury yields move slightly higher Wednesday as the Federal Reserve says it remains upbeat on the economy despite growing concerns around the outbreak of COVID-19.
10:53 a.m. Today10:53 a.m. Feb. 19, 2020
- By Andrew Keshner
Lawsuit: Department of Education is making it ‘nearly impossible’ for defrauded students to cancel their student loans Department officials say new rules help students, and also save taxpayers moneyDepartment officials say the new rules help students, and also save taxpayers money.
10:41 a.m. Today10:41 a.m. Feb. 19, 2020
- By Alessandra Malito
Fidelity customers freaked out Wednesday when a tech glitch caused their 401(k) balances to drop to $0 ‘Could you imagine if you went to bed last night with $1 million in your Fidelity accounts and woke up this morning to $0?’ ‘Could you imagine if you went to bed last night with $1 million in your Fidelity accounts and woke up this morning to $0?’
9:18 a.m. Today9:18 a.m. Feb. 19, 2020
- By Mark Kantrowitz
I took out $50K in student loans, but now I’m living on disability. Is my spouse responsible — and will my family have to pay off my student debt if I die? ‘There are several deferments and forbearances that can temporarily suspend the obligation to repay federal student loans’‘There are several deferments and forbearances that can temporarily suspend the obligation to repay federal student loans.’
8:57 a.m. Today8:57 a.m. Feb. 19, 2020
- By Sunny Oh
Here’s why stock investors care about investment-grade credit ratings Kraft’s recent downgrades underlines risk to equity investorsAs U.S. corporations have racked up record levels of leverage after the financial crisis, the ability to keep borrowing at low rates has become increasingly important to stock investors, too.
8:20 a.m. Today8:20 a.m. Feb. 19, 2020
- By Ciara Linnane
What Apple, Walmart and other U.S. companies are saying about the coronavirus outbreak Coronavirus is becoming a dominant theme in earnings releases and on companies’ conference calls as investors seek to gauge its impact on corporate resultsThe new coronavirus that was first identified late last year in Wuhan, China, is becoming a dominant theme in the earnings releases and conference calls of S&P 500 companies as investors press for answers on how it will impact their business.
8:08 a.m. Today8:08 a.m. Feb. 19, 2020
- By Steve Goldstein
Fed staffers say life insurers have leveraged up and are vulnerable to risks from the corporate sectorA new research paper from Federal Reserve staffers finds U.S. life insurers have taken on the risks in private debt largely ceded by banks after the 2008 financial crisis.
7:52 a.m. Today7:52 a.m. Feb. 19, 2020
Wells Fargo's Long-term Coronavirus ConcernsChris Harvey, Wells Fargo Securities' head of equity strategy, discusses how global growth may be impacted by volatility as a result of Coronavirus.
7:35 a.m. Today7:35 a.m. Feb. 19, 2020
- By Shawn Langlois
Obama takes credit for the economic boom and Trump attacks him for it — here’s why they’re both wrongJeff Snider of Alhambra Investments says both the former and current president are off base about this economy.
7:34 a.m. Today7:34 a.m. Feb. 19, 2020
Apple Aside, the Coronavirus Hasn’t Caused Many Companies to Adjust Their Outlooks
Apple recently warned it wouldn’t be able to achieve its revenue guidance for the current quarter, citing the coronavirus impact. But not many other companies have changed their guidance because of the virus.
6:59 a.m. Today6:59 a.m. Feb. 19, 2020
- By Michael Ashbaugh
Charting a tandem breakout attempt: S&P 500, Nasdaq tag latest record highs Focus: Gold miners clear key trendline, Silver’s strong-volume breakout, GDX, SLV, PAAS, WMT, PCRX, TXTU.S. stocks are higher early Wednesday, rising after a solid batch of economic data and ahead of the release of the Federal Reserve’s meeting minutes. Against this backdrop, the S&P 500 has edged to its latest record high, while the Nasdaq Composite has broken out more decisively, placing the marquee 10,000 mark increasingly within view.
6:29 a.m. Today6:29 a.m. Feb. 19, 2020
- By Lina Saigol
Why a surprise €4.9 billion Italian bank merger won’t spark an M&A spree for Europe’s banksShares in Italian bank UBI Banca surge 23% after its larger rival Intesa makes surprise €4.9 takeover bid
4:57 a.m. Today4:57 a.m. Feb. 19, 2020
- By Alessandra Malito
You may not have as much in your 401(k) for retirement as you think This one number will help you more accurately plan for retirement — thanks to the Secure Act. This one number will help you more accurately plan for retirement — thanks to the Secure Act.
4:17 a.m. Today4:17 a.m. Feb. 19, 2020
- By Meera Jagannathan
Fewer people are having trouble paying their medical bills — now for the bad news ‘Significant expenses for one family member may adversely affect the whole family’‘Significant expenses for one family member may adversely affect the whole family.’
3:46 a.m. Today3:46 a.m. Feb. 19, 2020
These Highflying European Stocks Could Trip Up Unsuspecting Investors, Warns Credit Suisse
Some highflying European stocks are doing well lately. Here’s why investors need to be wary of a trend that is all-in for some momentum stocks in the region.
2:30 a.m. Today2:30 a.m. Feb. 19, 2020
It’s Michael Milken’s World. The Rest of Us Just Live in It.
Without Milken—or someone like him—the financialization of the global economy wouldn’t have happened. And there wouldn’t have been the Great Financial Crisis, the aftereffects of which still are being felt.
1:52 a.m. Today1:52 a.m. Feb. 19, 2020
- By Philip van Doorn
Health-care stocks hinge on presidential politics — and they’re now looking favorable Investors have become more comfortable with the likes of UnitedHealth as Elizabeth Warren’s political fortunes have souredInvestors have become more comfortable with the likes of UnitedHealth as Elizabeth Warren’s political fortunes have soured.
12:02 a.m. Today12:02 a.m. Feb. 19, 2020
- By Ryan Lane
Should marriage include a merger of student loans? If you’re thinking of getting hitched, here’s how to decide if you should refinance togetherFor some borrowers it could actually be a gateway to paying less.
11:01 p.m. Feb. 18, 2020
- By Steve Goldstein
Here’s the reason Americans are saving so much of their income Goldman Sachs economists tackle the reason the savings rate is still elevatedHousehold wealth compared to income is near a record high. Unemployment is near a record low. So why is the savings rate so high?
1:05 p.m. Feb. 18, 2020
Ally Financial to buy CardWorks for $2.65 billionAlly Financial has agreed to buy consumer finance company CardWorks for about $2.65 billion in cash and stock. CardWorks has $4.7 billion in assets and $2.9 billion in deposits. Ally said the deal will provide "instant capability and scale opportunity" in credit cards and merchant services. CardWorks Chief Executive and founder Don M.
11:25 a.m. Feb. 18, 2020
- By Jeremy C. Owens
LendingClub stock drops as earnings show effects of bank-charter effortLendingClub Corp. shares declined in late trading Tuesday, after the online-lending company revealed projected weaker-than-expected growth in 2020 as it seeks to become a registered bank. LendingClub revealed a proposed $185 million acquisition of online bank Radius Bancorp along with other changes in its fourth-quarter earnings Thursday afternoon as it seeks to receive a bank charter. The company reported earnings of $200,000, less than a penny a share, on net revenue of $188.5 million, up from $181.5 million a year ago. After adjusting for stock-based compensation and other expenses, the company reported earnings of 8 cents a share. Analysts on average expected adjusted earnings of 4 cents a share on sales of $199.2 million, according to FactSet. LendingClub said that it expected first-quarter net revenue of $170 million to $180 million and full-year 2020 revenue of $790 million to $820 million, short of the average analyst forecast of $198.7 million for the first quarter and $871.5 million for 2020, according to FactSet. Shares dropped as much as 15% immediately after the report was released, though declines soon eased to less than 10%.
9:31 a.m. Feb. 18, 2020
- By Mark DeCambre
Sanders ‘a bigger threat’ to the stock market and economy than coronavirus, Wall Street billionaire Cooperman says Cooperman says the next crisis in the market won’t be in the private sector Speaking on CNBC on Tuesday, the outspoken billionaire Cooperman says that he views the infectious disease, known as COVID-19, as a short-lived problem.
9:08 a.m. Feb. 18, 2020
Kraft Heinz's Downgrades Will Send $21 Billion of Bonds Into the High Yield Market
8:42 a.m. Feb. 18, 2020
- By Leslie Albrecht
Michael Bloomberg is America’s No.1 philanthropist — how much of that is to spread his political influence? ‘Most people don’t think of charitable dollars as being an avenue to political influence, but it is,’ says David Callahan, author of ’The Givers: Wealth, Power, and Philanthropy in a New Gilded Age’‘Most people don’t think of charitable dollars as being an avenue to political influence, but it is,’ says David Callahan, author of ’The Givers: Wealth, Power, and Philanthropy in a New Gilded Age.’
8:33 a.m. Feb. 18, 2020
- By Alessandra Malito
Mike Bloomberg thinks the government needs to do more for your retirement The former New York City mayor suggests reform for Social Security, Medicare and elderly assistanceThe former New York City mayor suggests reform for Social Security, Medicare and elderly assistance.
8:24 a.m. Feb. 18, 2020
How Deutsche Bank Helped Finance Donald Trump’s Political Rise
In “Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction,” David Enrich of the New York Times traces the relationship between the president and the bank that loaned him billions.
7:42 a.m. Feb. 18, 2020
- By Tomi Kilgore
Macy's stock takes a dive after S&P cuts credit to 'junk'Shares of Macy's Inc. took an midday dive Tuesday, after S&P Global Ratings downgraded the department store chain's credit to "junk" status, citing a weaker profitability outlook after the company unveiled its three-year strategic plan. The stock was down 3.9%, after being down about 1.4% prior to the downgrade. S&P cut its rating one notch to BB+, which is the highest speculative grade rating, from BBB-. The rating's outlook is stable. S&P said , which includes a significant reduction of the store network, focus on growth in private label brands and off-price stores and cost cutting, has "considerable" execution risks. "While we believe management's strategic plan is a necessary step toward rightsizing the enterprise, it demonstrates to us that the company's competitive advantage has diminished more than we expected, and to a point that we no longer believe is consistent with an investment-grade rating," S&P wrote in a research note. "We now project operating performance will deteriorate over the next several quarters, with declines in comparable same-store sales." Fellow rating agencies Moody's Investors Service rates Macy's at Baa3, the lowest investment-grade rating, and said last week that the strategic plan was "credit positive." Macy's stock has lost 5.1% over the past three months, while the SPDR S&P Retail ETF has eased 0.1% and the S&P 500 has gained 7.8%.
7:39 a.m. Feb. 18, 2020
- By Michael Ashbaugh
Charting a bull-trend pullback, S&P 500 digests break to record territory Focus: Gold tags six-year highs amid safe-haven trade, GLD, AKAM, NDAQ, AAL, MNSTTechnically speaking, the S&P 500 has staged a thus far orderly pullback from record highs, though the downturn is worth tracking for potential acceleration, writes Michael Ashbaugh.
Macy's credit rating cut to BB+, or 'junk' status, at S&P Global
7:19 a.m. Feb. 18, 2020
7:17 a.m. Feb. 18, 2020
- By Steve Goldstein
‘Silent melt-up’ in stocks to continue, but switch into value delayed until virus fears recede, strategist says U.S. stock futures lower after Apple warningThe combination of low inflation risk, solid growth outlook, and high earnings yields will keep driving stocks higher, argues one strategist.
7:02 a.m. Feb. 18, 2020
- By Michael Ashbaugh
Charting a bull-trend pullback, S&P 500 digests break to record territory Focus: Gold tags six-year highs amid safe-haven trade, GLD, AKAM, NDAQ, AAL, MNSTTechnically speaking, U.S. stocks are starting the week on the defensive, pressured amid heightened coronavirus concerns fueled partly by Apple, Inc.’s revenue warning. Against this backdrop, each big three U.S. benchmark has staged a thus far orderly pullback from its latest record close. Though limited damage has been inflicted, the downturn is worth tracking for potential acceleration.
6:52 a.m. Feb. 18, 2020
- By Jacob Passy
Gen Z is financially ‘better armed and better educated’ than millennials were at their age Millennials are still shaking off the baggage of entering adulthood during the Great RecessionMillennials are still shaking off the baggage of entering adulthood during the Great Recession.
6:47 a.m. Feb. 18, 2020
Advance Auto Parts’ Earnings Were ‘Better Than Feared.’ The Stock Is Jumping.
The per-share profit was higher than expected despite lackluster sales.
6:25 a.m. Feb. 18, 2020
- By Sarah Max
Future Returns: Shining a Brighter Spotlight on Gender DiversityGender diversity is linked to better recruiting, employee engagement and innovation, and less reputational risk