Business

Dow futures point to slightly lower open as growth concerns persist

U.S. stock index futures were lower Friday morning, amid jitters sparked by the Federal Reserve’s cautious outlook for the world’s largest economy. At around 03:25 a.m. ET, Dow futures slipped 38 points, indicating a negative open of more than 14 points. Futures on the S&P 500 and Nasdaq were seen …

Business

Dow set to fall 100 points at the open as growth concerns persist, Nike falls

U.S. stock index futures fell Friday amid jitters sparked by the Federal Reserve’s cautious outlook for the world’s largest economy. At around 5:50 a.m. ET, Dow Jones Industrial Average futures were down 130 points, indicating a decline of more than 100 points at the open. Futures on the S&P 500 …

Business

European stocks open slightly higher amid dovish Fed, Brexit uncertainty

European stocks opened slightly higher Friday, despite concerns over the Federal Reserve’s subdued outlook and ongoing Brexit uncertainty weigh on sentiment. The pan-European Stoxx 600 was 0.2 percent higher shortly after the opening bell, with most sectors and major bourses in positive territory. Market participants continued to digest the latest …

Business

European stocks slide as weak euro zone data fuels slowdown worries

European stocks slipped Friday as worse-than-expected economic data intensified concerns around slowing global growth. The pan-European Stoxx 600 dropped almost 0.6 percent, with most sectors and major bourses turning negative. Equities were initially positive earlier in the session. A slew of negative economic data weighed on investor sentiment on the …

Business

The Fed is ‘not yet done’ with rate hikes, according to S&P Global Ratings

The U.S. Federal Reserve on Wednesday kept interest rates unchanged and slashed all projections of a rate hike this year. Still, according to U.S.-based financial services giant S&P Global Ratings, the Fed is “not yet done” with rate hikes. Its chief Asia-Pacific economist told CNBC he thinks another increase may …

Business

Oil prices near 2019 highs amid OPEC supply cuts, US sanctions

Oil prices on Friday hovered close to 2019 peaks reached the previous day, propped up by supply cuts led by producer club OPEC and by U.S. sanctions against Iran and Venezuela. Brent crude oil futures were at $67.82 per barrel at 0122 GMT, down four cents from their last close …

Business

Oil slips from 2019 highs as economic concerns weigh

Oil prices eased from 2019 peaks on Friday as economic growth concerns weighed on sentiment, pausing a three-month rally driven by OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela. Brent crude oil futures were at $67.72 per barrel at 0419 GMT, down 14 cents, or 0.2 percent, from …

Business

Cramer Remix: Levi’s stock is too rich to buy after its high-flying IPO

Levi Strauss & Co, the maker of Levi’s jeans, kicked off the IPO frenzy by going public and making investors a lot of money, but the stock is now too high to buy, CNBC’s Jim Cramer said Thursday. Shares of the jean company, which was founded in antebellum America, rocketed …

Business

CVS Health CEO on reducing costs: Billions in value opportunity is ‘in front of us’

CVS Health CEO Larry Merlo told CNBC Thursday that the health chain is unlocking growth opportunities despite the stock’s downward trend since officially merging with Aetna in November. The company has made “tactical execution” changes to its long-term care business that has faced “intense financial pressure,” he said. The skilled …

Business

Amazon accused of firing warehouse worker who criticized “robot”-like treatment

Ex-Amazon worker claims he was fired from the retailer’s Staten Island warehouse for complaining about working conditions Dispute comes amid renewed focus on Amazon’s labor practices and stance on unions Amazon says it already offers the kind of pay and benefits that unions are demanding A former employee at an …

Business

AT&T CEO interrupted by robocall during interview

No one — not even the chief executive officer of AT&T — is safe from robocalls. Telecom boss Randall L. Stephenson was interrupted by a phone spammer while onstage at an Economic Club event in Washington, D.C., on Wednesday.  “I’m getting a robocall too, okay?” he said as he hit …

Business

Levi Strauss shares soar after company’s second IPO — four experts react

Levi Strauss shares are on a tear after the company’s initial public offering. Shares of the 166-year-old denim company ended trading nearly 32 percent higher on Thursday following the company’s second-ever IPO. Levi Strauss first went public in 1971 before going private for over three decades. Here’s what four Wall …

Business

Bet on higher bond prices after Fed’s dovish coo, technician says

Bond prices are on the rise this week after the Federal Reserve again sounded a dovish call. The 10-year yield declined to its lowest level in 15 months on Thursday, a day after the central bank suggested it would not hike rates in 2019 in response to signs of slowing …

Business

Maryland Lawmakers Want To Increase Minimum Wage By Nearly 50 Percent

3:59 PM 03/21/2019 | Business Tim Pearce | Energy Reporter The Maryland General Assembly voted Wednesday to approve a state $15 minimum wage, sending the bill to GOP Gov. Larry Hogan’s desk for final approval, The Baltimore Sun reports. Hogan has opposed raising the current $10.10 minimum wage by a …

Business

Nike shares fall after North American sales growth disappoints

Nike shares tumbled after the bell on Thursday following the sneaker maker reporting weaker-than-expected sales in North America during its fiscal third quarter. Although its earnings topped analysts’ expectations, and total revenue was in-line with estimates, Nike shares sunk more than 4 percent on the news. The stock had closed …

Business

Nike is about to report earnings. Here’s everything you need to know

Nike is set to report fiscal third-quarter earnings after the bell on Thursday. Here’s what analysts are expecting, based on a poll by Refinitiv: Earnings per share, adjusted: 65 cents Revenue: $9.61 billion Hoping to keep building momentum for its brand, Nike’s focus has shifted from its wholesale partners to …

Business

Boeing’s 737 Max could single-handedly hit US GDP if production is halted, JP Morgan says

A production halt of Boeing’s 737 Max jets could be felt well beyond the aerospace giant’s quarterly profits, according to J.P. Morgan. Michael Feroli, the bank’s chief U.S. economist, said in a note to clients that annualized U.S. GDP could fall by 0.6 percentage points if production of the beleaguered …

Business

JetBlue pilots accused of sexually assaulting 2 female crew members, lawsuit says

Two JetBlue pilots sexually assaulted two female airline workers during a layover in San Juan, according to a lawsuit the alleged victims filed in Brooklyn federal court. The two airline crew members, who were identified as Jane Doe 1 from Utah and Jane Doe 2 from Texas, met the pilots, …

Business

Why this expert makes a bull case for oil

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Business

Fundstrat’s Tom Lee sees upside in stocks as US economy is still in mid-expansion

The U.S. still has some gas left in the tank, according to Fundstrat Global Advisors. Based on the key data including investment spending and employment ratio, the U.S. is still in the middle of its record-long expansion, instead of in the late cycle that has been sending jitters to investors, …

Business

Jeffrey Gundlach says Fed this week was ‘not reassuring’ and S&P 500 still in bear market

DoubleLine Capital CEO Jeffrey Gundlach spoke to CNBC on Thursday: Wapner: Were you surprised by Fed’s dovish double-down on Wednesday? Gundlach: I think you have to be. I predicted they would go from two hikes this year to 0.5, and everyone told me there was no way they would downgrade …

Business

There’s one reason why stocks are doing just fine despite worries about earnings and the economy

Corporate earnings are expected to contract in the first quarter and fears of an economic slowdown abound. Yet the U.S. stock market is still up more than 13 percent this year. There is one reason why these opposing scenarios are developing simultaneously: an accommodative Federal Reserve. The Fed said Wednesday …

Business

Sugary drinks may help fuel colon cancer tumors, study in mice suggests

Sugary drinks may feed colon cancer tumors, according to a study published Thursday in the journal “Science.” High-fructose corn syrup feeds colon tumors in mice, suggesting that drinking soda may produce similar effects in humans, a study from Weill Cornell Medicine, a medical school, and NewYork-Presbyterian Hospital found. Researchers said …

Business

Facebook stored millions of unencrypted user passwords

Facebook on Thursday said it had for years stored millions of user passwords in plain text, explaining that it discovered the security lapse as part of a “routine” review last month. Security researcher Brian Krebs today posted an article about the issue. Pedro Canahuati, vice president of engineering for security …

Business

Sheriff in Robert Kraft prostitution case expects video will eventually be released to the public

New England Patriots owner Robert Kraft really doesn’t want the public to be able to see videos that prosecutors say show him getting sexual services in a Florida spa for cash — but the case’s top cop expects that salacious footage eventually will be given to the media and others. …

Business

Sheriff in Robert Kraft prostitution case expects video will be eventually released to the public

New England Patriots owner Robert Kraft really doesn’t want the public to be able to see videos that prosecutors say show him getting sexual services in a Florida spa for cash — but the case’s top cop expects that salacious footage eventually will be given to the media and others. …

Business

Comcast has a new streaming box for cord cutters that you can get for $5 per month

Comcast is making it easier for its broadband-only customers to access streaming video without an outside set-top box. For $5-per-month, Comcast will give its internet-only customers a connected box to watch Netflix, Amazon Prime and other streaming applications, eschewing the need for a separately purchased device such as a Roku, …

Business

Apple shares surge to 4-month high, as stock chart points to growing investor confidence

Apple’s stock rose more than 3 percent on Thursday, putting the stock on pace for its ninth positive day in the past 10 days of trading. The technology giant’s stock climb led a broad rise across the S&P 500 information technology sector, which was up 1.8 percent on Thursday. That …

Business

A key recession indicator just did something that hasn’t happened in 12 years

Federal Reserve Chairman Jerome Powell’s assertion this week that the U.S. economy remains strong is facing a stern test from the bond market. In fact, government fixed income yields are delivering, by one measure, a possible recession indication that hasn’t happened since 2007 The spread, or yield curve, between the …

Business

MillerCoors sues Anheuser-Busch for controversial Bud Light Super Bowl ad

MillerCoors filed a lawsuit Thursday against Anheuser-Busch InBev, claiming that its rival’s Bud Light ad shown during the Super Bowl is false advertising meant to deceive customers and misuses the Miller and Coors trademarks. The company is seeking an injunction to stop Bud Light from continuing the ad campaign. MillerCoors …