Veteran trader Art Cashin told CNBC on Tuesday that investors are wary of positive U.S.-China trade reports after having been let down in the past. “This market has had its heart broken time and time again,” said Cashin, director of UBS floor operations at the New York Stock Exchange. Stocks have reacted wildly to reports
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At the Dead Sea, travelers slather thick, mineral-rich mud onto their bodies and bake under the sun. In India, hot stones are strategically placed along the spine. From Iceland to New Zealand, people luxuriate in steaming natural hot springs. And in Morocco? Travelers are buried alive in sweltering hot sand in the name of health
Jerome Powell, chairman of the U.S. Federal Reserve, left, hands his mobile phone to Michelle Smith, assistant to the board and director at the Federal Reserve, before a House Budget Committee hearing in Washington, D.C., U.S., on Thursday, Nov. 14, 2019. Andrew Harrer | Bloomberg | Getty Images Could the Twittersphere be influencing the Federal
Shannon Stapleton | Reuters Peloton shares skidded 6.6% Tuesday after a Citron Research short-seller note pointed to “clear flaws” in the exercise company’s business model and an “overly promotional” management team that is “trying to justify an unrealistic valuation.” The report also reiterates points made by other short sellers of Peloton, including comparisons to GoPro,
Jim McGuire | Getty Images A new proposal in Congress aims to resurrect an old tradition: mailing Social Security statements to your home. Since 2011, the Social Security Administration has cut back on the number of paper statements it puts in the mail in order to save money. A new bill, called the Know Your
Shares of Agilent Technologies gained more than 3% in after-hours trading on Monday after hedge fund investor Bill Ackman revealed he has taken a stake in the lab testing equipment maker. A regulatory filing showed Ackman’s hedge fund, Pershing Square Capital, owns more than 2.9 million Agilent shares, bringing his stake to around $246 million.
The Republic of Mauritius, located off the east coast of Africa, is full of Indians who speak French. The story of how it got that way is an intriguing one. Visitors may be surprised at the predominance of French influence on this island state in the Indian Ocean — a destination best known for its
A customer uses a Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, automatic teller machine (ATM) in Hanoi, Vietnam. Justin Mott | Bloomberg | Getty Images Vietnam’s banking sector is an attractive investment opportunity because it is generating a lot of capital and growing fast, according to a senior banker at J.P. Morgan.
James Quincey, the CEO of The Coca-Cola Company, speaks during an interview with CNBC on the floor at the New York Stock Exchange, December 9, 2019. Brendan McDermid | Reuters Coca-Cola CEO James Quincey said that the beverage giant waited too long to make a sparkling water brand. “We should’ve done AHA, yeah, sooner,” Quincey
Lauren Schaefer, 31, was managing events for the Columbia University Graduate School of Journalism when she quit to start her own wedding coordination company. Source: Lauren Schaefer When Lauren Schaefer started planning weddings, she never imagined it would become a full-time job. The 31-year-old worked in the events management industry for 10 years before she
Jordan Siemens | Getty Images When Tara Unverzagt started her own financial planning firm, South Bay Financial Partners, in 2014, she already had a head start. That’s because Unverzagt’s mother, Janet Tussing — one of the first female certified financial planners — was retiring and passed along her book of business. Those clients ranged from
James Gorman being interviewed in Davos, Switzerland, January 21, 2016. David A. Grogan | CNBC Morgan Stanley is cutting roughly 2% of its workforce due to an uncertain global economic outlook, according to people with knowledge of the situation. The job cuts at the investment bank, the world’s biggest equities trading firm and a leading
Slphotography | Getty Images Consumers plan to fight a different battle of the bulge next year. A new survey has found that 84% of individuals said they would rather save $5,000 than lose 5 pounds. What’s more, 84% of consumers also said they would prefer to reduce their debts than lower their computer or phone
Close-up of Postmates logo. Smith Collection/Gado | Archive Photos | Getty Images Venture capital’s renewed focus on profits instead of growth at any cost will make younger, urban lifestyles more expensive. Boardroom conversations are shifting in the wake of WeWork’s failed IPO, and investors are urging money-losing start-ups to tighten operations and eventually bump up
A customer pulls into a McDonald’s restaurant in Shepherdsville, Kentucky. Luke Sharrett | Bloomberg | Getty Images McDonald’s black franchisees are choosing to leave the chain as the disparity in performance between their restaurants and their white counterparts grows, Business Insider reported Monday. The average cash flow of black franchisees is much less than the
The final few weeks of the year aren’t just for last-minute shopping and holiday parties. It’s also a crucial time for tax savings. While the 2017 tax overhaul did put a whole new spin on year-end planning, it did not eliminate the need to do it altogether. In fact, from making an 11th-hour charitable donation
A WeWork office in San Francisco Kate Munsch | Reuters WeWork’s dramatic fall has led to SoftBank CEO Masa Son’s questioning his own judgement, but one analyst still believes the bank will come out on top eventually with the massive investment in the reeling space-sharing company. “Despite the huge embarrassment WeWork has been for SoftBank this
Desmond Chang has spent much of the past year in steaming kitchens and pungent food production facilities scattered around Chengdu — arguably the city with the spiciest cuisine on the planet. In all-night sessions over hotpots and baiju (a potent alcoholic spirit), he conspired with local residents Xu Fan and Yang Wen to make this
If jobs market strength persists, Wells Fargo Securities Michael Schumacher isn’t ruling out a 2020 interest rate hike — especially if the Federal Reserve decides to add one more insurance cut early next year. His call comes less than a week before the year’s final Fed meeting on rates. “The Fed is not in a
Marc Benioff, Co-CEO of SalesForce speaking at the WEF in Davos, Switzerland on Jan. 22, 2019. Adam Galica | CNBC Salesforce shares bounced around in extended trading on Tuesday after the cloud software company reported better-than-expected results. The stock initially rose about 1% and then fell 2%. Here are the key numbers of the fiscal
Sheila Johnson attends The Jefferson Awards Foundation 2017 DC National Ceremony on June 22, 2017 in Washington, DC. Larry French | Getty Images Entertainment | Getty Images While higher education often comes with an eye-watering price tag, there are options outside of a traditional four-year college or university. “People put so much emphasis on education,
Allison Shelley | Getty Images News | Getty Images When it comes to Social Security, the question on most people’s lips is: “Will it still be there for me when I retire?” The answer is generally yes. But the system will pay less in benefits if nothing is done to repair it. In April, the
A pedestrian walks past a stock indicator displaying numbers of the Tokyo Stock Exchange and the world’s major markets in Tokyo. Kazuhiro Nogi | AFP | Getty Images (This story is part of the Weekend Brief edition of the Evening Brief newsletter. To sign up for CNBC’s Evening Brief, click here.) U.S. equities have been
T-Mobile CEO John Legere (L) and Sprint Executive Chairman Marcelo Claure (R) arrive to testify at the Senate Judiciary Committee’s Subcommittee on Antitrust, Competition Policy and Consumer Rights hearing on the proposed merger of T-Mobile and Sprint in the Dirksen Senate Office Building on Capitol Hill in Washington, DC, on June 27, 2018. Mandel Ngan
Slack Technologies Inc. CEO Stewart Butterfield stands on the trading floor during the company’s IPO at the New York Stock Exchange (NYSE) in New York, U.S. June 20, 2019. Brendan McDermid | Reuters Slack shares rose about 2% in extended trading on Wednesday after the developer of the popular work messaging app reported better-than-expected quarterly
The character Marla in ‘Playmobil’ STX Films, promotional photo of Playmobil movie It seems Disney’s reign over the animation box office continued this weekend. While “Frozen II” neared $1 billion during its third weekend in theaters, STX’s “Playmobil” movie garnered less than $1 million in ticket sales over its opening weekend in North America. STX,
Ah, the joys of new marital bliss. Now … about those tax returns. If you tied the knot this year (or plan to this month), it’s worthwhile evaluating what getting married will mean for your 2019 tax situation. While many couples will see their taxes drop, some will face a “marriage penalty” — paying more
(This story is part of the Weekend Brief edition of the Evening Brief newsletter. To sign up for CNBC’s Evening Brief, click here.) Astronomical auction prices may have defined the art market in recent years, but new research shows that over the long-term the value of art has steadily climbed, delivering returns relatively in-line with
U.S. President Donald Trump, with Speaker Nancy Pelosi and Vice President Mike Pence looking on, delivers the State of the Union address in the chamber of the U.S. House of Representatives at the U.S. Capitol Building on February 5, 2019 in Washington, DC. Doug Mills | Getty Images Citi is boosting its stock forecast for
RH, the company formerly known as Restoration Hardware, posted fiscal third-quarter earnings Wednesday that topped analysts’ estimates, but left its forecast for the current quarter largely unchanged. RH shares were recently trading slightly higher in extended trading Wednesday, but the stock had been down earlier. Here’s how the company with Wall Street’s expectations, according to