Editor’s Pick

Editor's Pick

The UK is in ‘pole position’ for market recovery despite gloomy economic outlook, UBS says

4 years ago

U.K. GDP saw its sharpest contraction since 1979 in the first quarter, and the balance-of-trade deficit widened to £21.1 billion ($26.4 billion).
U.K. stocks currently trade at a 19% discount to the MSCI World index, versus an average of 7% since 2002, UBS strategists pointed out in a research note Wednesday.
S&P Global has cut its forecast for U.K. GDP in 2020 to an 8.1% contraction, warning of a “perfect storm” if Britain suffers a second wave of coronavirus infections and fails to negotiate a post-Brexit free trade agreement.

Pandemic sours Delta’s investments in foreign airlines, costing $2 billion

4 years ago

Delta has aggressively pursued investments in foreign airlines in recent years to help grow abroad.
The carrier posted charges of more than $2 billion related to those soured investments.
International air travel demand has plunged in the pandemic due to weak demand and travel restrictions.

Editor's Pick

Coronavirus vaccine is closer than the market thinks, Wharton’s Jeremy Siegel predicts

4 years ago

Wharton finance professor Jeremy Siegel expects a game changer.

He predicts a coronavirus vaccine is closer than the market thinks.

“We’ve had almost no setbacks in the schedule developing the vaccine, and I think that’s where upside surprises can occur,” Siegel told CNBC’s “Trading Nation” on Tuesday. “We may find ourselves with a workable vaccine for high risk individuals by the end of the fall, early winter.”

Manhattan apartment sales worst on record, biggest plunge in 30 years

4 years ago

Manhattan apartment sales in the second quarter fell by 54%, the largest percentage decline in 30 years, according to a report from Miller Samuel and Douglas Elliman.
The median sales price fell 18% to $1 million, which is the biggest decline in a decade.
There were only 1,147 sales in the quarter — the lowest number on record, according to Compass.

Editor's Pick

Walmart’s stock rises 7% on report of Amazon Prime competitor coming this month

4 years ago

Walmart is launching Walmart+ in July, according to a report by Vox’s Recode.
The subscription-based program will compete with Amazon Prime.
Walmart has not released details about Walmart+ and the perks it will use to stand out from competitors.

Lemonade reaches $3 billion market cap after shares soar more than 138% on its IPO day

4 years ago

Shares of Lemonade, an digital insurance company, soared more than 138% in its Thursday market debut.
The company’s stock opened at $50.06 after pricing at $29 per share Wednesday.
Lemonade offers insurance to renters and homeowners with the use of artificial intelligence and chatbots.

Millennials are piling into stock trading in Asia. Here’s how to make the most of your money

4 years ago

Last week, major U.S. indices recorded their best quarter in decades. The Dow Jones closed up 17.77% on June 30 to notch its best three months since 1987. The S&P 500 ended up 19.95%, a high not seen since 1998. The Nasdaq finished higher by 30.63%, its greatest gain since 1999.

Here’s an easy, low-cost way to build a retirement plan like the pros

4 years ago

The ideal retirement strategy uses a guaranteed pot of money for living expenses and ensures investment assets don’t run out.
Everyday retirees can approximate this plan with Social Security income and by withdrawing investment money according to a simple formula published by the IRS.
There are risks, such as large unforeseen expenses.

Editor's Pick

Hong Kong makes first arrests under China’s new national security law

4 years ago

Under the new legislation, many of Hong Kong’s protests that took place last year would be punishable by law.
It gives Beijing greater control on the city and has already had an impact on the protest movement, with prominent activist Joshua Wong resigning and withdrawing from his pro-democracy party.

Editor's Pick

Stock futures rise slightly, headed for gains to finish out June

4 years ago

U.S. stock futures rose slightly in overnight trading and pointed to gains at the open on Tuesday, the final trading day of a volatile month for stocks.

Dow futures rose 20 points, or 0.2%. The S&P 500 and Nasdaq-100 were also set to open higher, with gains of 0.3% and 0.4%, respectively.

Editor’s Pick

The UK is in ‘pole position’ for market recovery despite gloomy economic outlook, UBS says

Pandemic sours Delta’s investments in foreign airlines, costing $2 billion

Coronavirus vaccine is closer than the market thinks, Wharton’s Jeremy Siegel predicts

Manhattan apartment sales worst on record, biggest plunge in 30 years

Walmart’s stock rises 7% on report of Amazon Prime competitor coming this month

Lemonade reaches $3 billion market cap after shares soar more than 138% on its IPO day

Millennials are piling into stock trading in Asia. Here’s how to make the most of your money

Here’s an easy, low-cost way to build a retirement plan like the pros

Hong Kong makes first arrests under China’s new national security law

Stock futures rise slightly, headed for gains to finish out June

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