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Dow ▼ 19,781.81 (-44.96)
1/18/2017 12:45pm
Nasdaq ▼ 5,538.73 (-35.39)
1/17/2017 5:00pm
S&P 500 ▼ 2,266.42 (-1.47)
1/18/2017 1:00pm
10 Year Bond ▲ 23.75 (+0.48)
1/18/2017 10:34am CST


News:

S&P, Nasdaq little changed; health stocks weigh on Dow
Wed, 18 Jan 2017 13:01:32 -0500

A trader works on the floor of the NYSE in New York(Reuters) - The S&P 500 and the Nasdaq were little changed in choppy trading on Wednesday as gains in tech stocks offset a weakness in retail sector, while the Dow was pulled lower by healthcare shares.




Goldman Sachs profit soars on bond-trading surge
Wed, 18 Jan 2017 12:42:48 -0500

A view of the Goldman Sachs stall on the floor of the New York Stock ExchangeLike other Wall Street banks, Goldman benefited from jumps in volume across fixed-income markets late in the quarter after Donald Trump won the U.S. presidential election and the Federal Reserve raised its key interest rate target. Business has remained strong in the first few weeks of 2017, Chief Financial Officer Harvey Schwartz said, offering optimism for the rest of the year.




Target cuts earnings forecast due to weak holiday sales
Wed, 18 Jan 2017 12:29:21 -0500

A newly constructed Target store is shown in San Diego, CaliforniaThe news on Wednesday sent Target shares down nearly 6 percent. A sharp rise in holiday digital sales failed to offset declines at Target stores. For many retailers, rapid growth in their online sales is taking business away from their stores, which still generate more than 90 percent of their revenues.




Earnings in focus as European shares pause after Trump rally; Pearson dives
Wed, 18 Jan 2017 12:28:57 -0500
European shares ended little changed on Wednesday with investors looking at corporate earnings for market direction as more doubts emerged that a rally triggered by Donald Trump's U.S. presidential election win would continue. The STOXX 600 edged 0.2 percent higher after a choppy session, while the UK's FTSE added 0.4 percent, bouncing after posting its biggest one-day drop since June 2016 in the previous session on Brexit jitters. "The risk is that... (Trump's) early focus will be negative, focused more on tough trade politics, instead of the more market-positive tax cuts and infrastructure investments," Finnish investment company Evli said in a note.

This is what a venture capitalist in deep, deep denial sounds like: Theranos backer Tim Draper
Wed, 18 Jan 2017 12:18:18 -0500

This is what a venture capitalist in deep, deep denial sounds like: Theranos backer Tim DraperThere was once a moment in time when Theranos was one of the most successful startups in the country—a blood-testing dynamo that would change medical science forever, improve the lives of millions of people, and make a hefty chunk of change for its investors.  Venture capitalist Tim Draper appears to still be living in that moment. If you haven't been keeping up with the Theranos saga, the company's been in a downward spiral since October 2015, when Wall Street Journal reporter John Carreyrou first reported that the company wasn't relying on their own blood-testing machines they touted as being a revolutionary step in medical testing.  At the time, Theranos was reportedly valued at around $9 billion. Since then, the company's been the subject of a variety of sanctions, regulatory issues and lawsuits. Theranos has laid off hundreds of employees and sold off its headquarters in Palo Alto. On Tuesday, the WSJ reported that Theranos had failed a second major inspection at its lone active lab. Draper, an early investor in Theranos, is a major name in the world of venture capital. He's a founding partner of Draper Fisher Jurvetson, which has made investments in Tesla, SpaceX, Twitter, Twilio, SolarCity and a variety of other major tech companies. And as a venture capitalist, it's Draper's job to triage, and answer the question central to Theranos's downfall: Who's to blame?   Well. According to Draper, who gave an interview to the new business-tech media startup Axios, it's the reporter behind the story , it's the WSJ, it's the competitors. In short everyone but the people at the heart of Theranos, including its founder, Elizabeth Holmes.  Here is Draper, actually saying this, as quoted by Axios: This, for the record, is what a venture capitalist in deep, deep denial sounds like.  Draper said he wasn't troubled by the initial report about problems at Theranos. By the second report, he had already identified what he called a "vendetta." "I dismissed it because there are always writers who want to take down big successes," Draper told Axios. "Then after the next one I realized there was some strange vendetta. Maybe it had to do with money. The guy is getting $4 million to continue this charade ." Emphasis ours, because it's worth pointing out here that a venture capitalist just accused a reporter of taking a four million dollar check. And speaking of that reporter, "the guy" that Draper is accusing of taking a $4 million bribe? Wall Street Journal reporter John Carreyrou, whose coverage of Theranos has been broadly recognized as having been thorough and accurate. He and the WSJ were reportedly threatened by Theranos with legal action; the company hasn't followed through on that. Likely because they'd lose. As far as that $4 million figure, nobody is quite sure where it came from. We checked in with Carreyrou, who responded to our questions about Draper's claims via email.  Basically, he's got no idea what Draper's referring to, and claimed that Draper had made the same claim to Forbes magazine last summer—but the number was $6 million: When pushed on why Theranos continues to encounter trouble beyond bad press, Draper verged on accusing the WSJ , the government, and the medical industry of entering into a conspiracy to sink Theranos.  Draper declined to concede that Theranos did anything wrong at all. The company's problem, he said, was that it was just too disruptive to the status quo.  "When an industry gets transformed, people who work for the status quo have lives that get challenged. They will do whatever it takes to take down the source of the transformation. In this case, that Wall Street Journal writer keeps pounding away but there isn't anything there," Draper [the investor of a now-flailing startup that was once reportedly valued at $9 Billion] said.  BONUS: Severe burns can heal faster with this 3-D skin printer




It's complicated! Don't view Brexit as hard or soft - S&P
Wed, 18 Jan 2017 11:41:58 -0500
By Kirsten Donovan DAVOS, Switzerland (Reuters) - Brexit should not be viewed in terms of 'hard' or 'soft' but rather as a complicated process of redistributing sovereignty, S&P Global's chief economist said on Wednesday. Speaking in the Global Markets Forum live from the World Economic Forum in Davos, Paul Sheard also said a recent rise in bond yields should be viewed, in principle, as a positive development. ANSWER: We've already shaved several basis points off our (UK) growth forecasts for the next two years.

Wall Street flat as tech gains counter weakness in retailers
Wed, 18 Jan 2017 11:40:43 -0500

A souvenir license plate is seen outside the New York Stock Exchange in Manhattan, New York CityWall Street was little changed on Wednesday as gains in technology and financial stocks offset losses in shares of retailers. The S&P 500 consumer discretionary sector was the biggest drag on the broader index, falling 0.3 percent as Target weighed. Bigger rival and Dow component Wal-Mart was off 1.1 percent.




Stocks, dollar steady after Trump-led dip
Wed, 18 Jan 2017 10:57:44 -0500

Traders work on the floor of the NYSEU.S. dollar recovered some ground on Wednesday while stocks posted modest losses, with investors still voicing caution over how U.S. policy will develop under Donald Trump's presidency days ahead of his inauguration. Energy stocks fell along with oil futures and U.S. Treasury yields rose on higher inflation ahead of a speech by U.S. Federal Reserve chair Janet Yellen. While Wall Street has been betting on Trump's promises of lower taxes, lighter regulation and fiscal spending, some investors hit the pause button before he officially takes office on Friday as he has yet to unveil clear policy plans.




Stocks, dollar steady after Trump-led dip
Wed, 18 Jan 2017 10:57:13 -0500

A woman walks past the London Stock Exchange building in the City of London, BritainBy Sinead Carew NEW YORK (Reuters) - U.S. dollar recovered some ground on Wednesday while stocks posted modest losses, with investors still voicing caution over how U.S. policy will develop under Donald Trump's presidency days ahead of his inauguration. Energy stocks fell along with oil futures and U.S. Treasury yields rose on higher inflation ahead of a speech by U.S. Federal Reserve chair Janet Yellen. While Wall Street has been betting on Trump's promises of lower taxes, lighter regulation and fiscal spending, some investors hit the pause button before he officially takes office on Friday as he has yet to unveil clear policy plans.




Global stocks, dollar steady after Trump-led dip
Wed, 18 Jan 2017 10:56:54 -0500
By Sinead Carew NEW YORK (Reuters) - U.S. dollar recovered some ground on Wednesday while stocks posted modest losses, with investors still voicing caution over how U.S. policy will develop under Donald Trump's presidency days ahead of his inauguration. Energy stocks fell along with oil futures and U.S. Treasury yields rose on higher inflation ahead of a speech by U.S. Federal Reserve chair Janet Yellen. While Wall Street has been betting on Trump's promises of lower taxes, lighter regulation and fiscal spending, some investors hit the pause button before he officially takes office on Friday as he has yet to unveil clear policy plans.

MIDEAST STOCKS-Saudi Electricity weighs on Riyadh, Egypt pulls back
Wed, 18 Jan 2017 09:33:28 -0500
* Saudi Electricity drops on wider Q4 loss * Tasnee falls despite swinging to net profit * Bank Alinma up on Q4 earnings * Egypt's Global Telecom drops on Vimpelcom report * Blue chips support UAE markets By Celine Aswad DUBAI, Jan 18 (Reuters) - Shares in Saudi Electricity Co (SEC) weighed on Saudi Arabia's stock market on Wednesday after the company reported a wider net loss for the fourth quarter, while Egypt's index pulled back as local traders booked gains in blue chips. The Saudi equities index edged down 0.3 percent as SEC slumped 3.4 percent after posting a quarterly loss of 2. ...

Why Does Trump Favor a ‘Weak Dollar’ and Is That Good or Bad for America?
Wed, 18 Jan 2017 09:08:00 -0500

Why Does Trump Favor a ‘Weak Dollar’ and Is That Good or Bad for America?Just days before taking office, President-elect Donald Trump roiled international currency markets, telling The Wall Street Journal that the US dollar is “too strong” compared to other global currencies, particularly the Chinese yuan. “Our companies can’t compete with them now because our currency is too strong,” Trump said. “And it’s killing us.” His comments were followed by a 1.3 percent drop in the value of the dollar against a basket of global currencies in trading on Tuesday, to its lowest level in more than a month.




Citigroup's earnings beat analysts' forecasts
Wed, 18 Jan 2017 08:41:11 -0500

FILE - In this July 9, 2014, file photo, the Transamerica Pyramid is reflected in the window of the main branch of Citibank in the Financial District of San Francisco. Citigroup Inc. reports financial results Wednesday, Jan. 18, 2017. (AP Photo/Eric Risberg, File)NEW YORK (AP) — Financial giant Citigroup reported a 7 percent rise in fourth quarter profits on Wednesday, helped by a strong performance in the bank's trading business, a theme that has repeated itself with all the major Wall Street banks this quarter.




Etihad Airways not looking to take stake in Lufthansa
Wed, 18 Jan 2017 08:00:24 -0500

Lufthansa and Norwegian Air aircraft tails are pictured in Riga International Airport in RigaEtihad Airways is not looking to take a stake in German carrier Lufthansa , a spokesman said on Wednesday, denying a report in an Italian newspaper that sent Lufthansa's shares higher on Tuesday. "We can confirm that are not looking to take a financial stake in Lufthansa," the spokesman said, after the Wall Street Journal quoted Etihad Aviation Group CEO James Hogan as saying he was interested in a closer partnership but not buying shares. Reuters reported on Tuesday that Lufthansa and Etihad were in talks, but over cooperation on code shares and catering, rather than equity stakes.




Etihad Airways not looking to take stake in Lufthansa
Wed, 18 Jan 2017 07:57:07 -0500

An Etihad Airways Boeing 777-3FX takes off at the Charles de Gaulle airport in RoissyEtihad Airways is not looking to take a stake in German carrier Lufthansa , a spokesman said on Wednesday, denying a report in an Italian newspaper that sent Lufthansa's shares higher on Tuesday. "We can confirm that are not looking to take a financial stake in Lufthansa," the spokesman said, after the Wall Street Journal quoted Etihad Aviation Group CEO James Hogan as saying he was interested in a closer partnership but not buying shares. Reuters reported on Tuesday that Lufthansa and Etihad were in talks, but over cooperation on code shares and catering, rather than equity stakes.




Etihad Airways not looking to take stake in Lufthansa
Wed, 18 Jan 2017 07:54:48 -0500
(Recasts with comment on Lufthansa) ABU DHABI, Jan 18 (Reuters) - Etihad Airways is not looking to take a stake in German carrier Lufthansa, a spokesman said on Wednesday, denying a report in an Italian newspaper that sent Lufthansa's shares higher on Tuesday. "We can confirm that are not looking to take a financial stake in Lufthansa," the spokesman said, after the Wall Street Journal quoted Etihad Aviation Group CEO James Hogan as saying he was interested in a closer partnership but not buying shares. Reuters reported on Tuesday that Lufthansa and Etihad were in talks, but over cooperation on code shares and catering, rather than equity stakes.

German e-car supplier Aumann plans stock market listing - sources
Wed, 18 Jan 2017 07:00:06 -0500
German engineering group Aumann is planning a stock marketlisting as the maker of parts for electric engines seeks cash for its expansion, people close to the matter said. Private equity owner MBB has asked Citi ,Berenberg and Hauck & Aufhaeuser to start with preparations ofan Aumann initial public offering, which may take place as early as April or May and see around 40 percent of Aumann's shares sold, the people added. Analysts at brokerage Equits said in a note last year that Aumann could be valued at 300 million euros ($320.49 million)including debt or 1.5 times Aumann's estimated 2017 sales in a potential IPO.

Hong Kong regulator sues Standard Chartered, UBS over IPO
Wed, 18 Jan 2017 06:36:51 -0500

London-based, Asia-focused lender Standard Chartered has faced a string of legal problems, including paying fines for handling transactions involving Iran, Myanmar, Libya and SudanHong Kong's stock market regulator has filed a lawsuit against major banks Standard Chartered and UBS along with consultancy firm KPMG over a 2009 initial public offering on the city's bourse. A writ of summons to the High Court filed by the Securities and Futures Commission (SFC) on Monday alleged "market misconduct" in connection with China Forestry Holdings IPO prospectus and the firm's financial statements for 2009 and the first half of 2010. Swiss giant UBS said in October it could face a fine and suspension from sponsoring IPOs in Hong Kong over an unspecified listing in the city, with speculation at the time that it related to China Forestry.




German e-car supplier Aumann plans stock market listing: sources
Wed, 18 Jan 2017 06:29:57 -0500
German engineering group Aumann is planning a stock market-listing as the maker of parts for electric engines seeks cash for its expansion, people close to the matter said. Private equity owner MBB has asked Citi,Berenberg and Hauck & Aufhaeuser to start with preparations of an Aumann initial public offering, which may take place as early as April or May and see around 40 percent of Aumann's shares sold, the people added. Analysts at brokerage Equits said in a note last year that Aumann could be valued at 300 million euros ($320.49 million)including debt or 1.5 times Aumann's estimated 2017 sales in a potential IPO.

MIDEAST STOCKS-Saudi Electricity slumps, other shares mixed after Q4 results
Wed, 18 Jan 2017 03:33:31 -0500
DUBAI, Jan 18 (Reuters) - Shares in Saudi Electricity Co (SEC) weighed on Saudi Arabia's stock market on Wednesday morning after the company reported a wider net loss for the fourth quarter. Other results had a mixed impact on Saudi stocks. SEC slumped 3.4 percent after posting a quarterly loss of 2.34 billion riyals ($624 million), much worse than NCB Capital's forecast of a loss of 1.04 billion riyals. SEC cited higher energy prices and operating costs. But Alinma Bank added 1. ...

Most Asian markets gain following Donald Trump's comment on the US dollar
Wed, 18 Jan 2017 01:12:11 -0500

Most Asian markets gain following Donald Trump's comment on the US dollarMost Asian stock market indices were trading higher on Wednesday (18 January), with the Shanghai Composite up 0.47% at 3,123.26 as of 5.35am GMT. This followed Donald Trump's comment on the US dollar.




Chuck E. Cheese goes to Wall Street: $1 billion IPO reportedly in the works
Tue, 17 Jan 2017 22:25:19 -0500

Chuck E. Cheese goes to Wall Street: $1 billion IPO reportedly in the worksStep aside, Snapchat: Wall Street's hottest new unicorn caters to an even younger user base and prefers animatronic rock-star rats to simpering puppy filters.   Reuters reports that Chuck E. Cheese's may be headed from the ball pit to the trading floor with a public offering that would value the chain at more than $1 billion. SEE ALSO: The Chuck E. Cheese Challenge will make you nostalgic for ball pits Citing anonymous sources, the news wire says the private equity firm that currently owns the arcade-pizza joint has been shopping it around to various banks in hopes of hitting the stock market later this year. In a fitting coincidence for a brand built around raucous elementary school birthday parties, the news broke the same day the chain kicked off its 40th anniversary celebration.    Once the technicolor mecca of kid hedonism, the chain has been struggling to grow up for years as home video games lessened demand for Whack-a-Mole sessions and interest waned in its unique pairing of lackluster cheese pizza and guitar-toting rodents.  That's not to mention a seedy reputation as an inexplicable magnet for viral brawls and absurd crime that has seemed to give its mascot's grin a sinister tinge of madness. I didn't really notice when I was younger, but Chuck e Cheese is creepy af pic.twitter.com/3bf8TzCPV1 — Markus Helmers (@mhelmers15) August 28, 2015 After a flurry of failed makeovers to its iconic rat — Chuck has sported everything from cigars to skateboards — the restaurant was forced to sell itself to its current owner, Apollo Global Management, for $950 million in 2014. Since then, it has tried to reinvent itself in a classier Dave & Buster's mold, appealing to the parents it once seemed to delight in driving to medicine cabinets with alcohol service and more mature advertising. It also recently traded its perpetually greasy tokens for more modern rewards cards, crashing a collector's market in the process. Wall Street traders looking for the hottest tech should note that the chain also boasts a distinguished Silicon Valley pedigree; it was conceived in 1977 by Atari founder Nolan Bushnell, who famously rejected an offer to buy a third of early-stage Apple for $50,000.  BONUS: ‘Jurassic Park’ reimagined as a classic arcade game




New York protesters camp out at Goldman Sachs to oppose Trump
Tue, 17 Jan 2017 19:40:09 -0500

A man protest against Wall Street bank's ties to President-Elect Trump's administration in Manhattan, New YorkBy Elizabeth Dilts NEW YORK (Reuters) - Dozens of protesters gathered outside of Goldman Sachs Group Inc headquarters on Tuesday to rally against President-elect Donald Trump's picking several former executives of the Wall Street bank for top jobs in his administration. Some of the 50 or so protesters wore swamp-monster masks in reference to Trump's pledge to "drain the swamp" that he said Washington has become and get rid of special interests. Goldman Sachs security guards sent employees and guests to entrances on the north side of the building on the rainy evening as protesters unrolled green sleeping bags on the southwest corner.




New York protesters camp out at Goldman Sachs to oppose Trump
Tue, 17 Jan 2017 19:38:55 -0500

Demonstrators protest against Wall Street bank's ties to President-Elect Trump's administration in Manhattan, New YorkBy Elizabeth Dilts NEW YORK (Reuters) - Dozens of protesters gathered outside of Goldman Sachs Group Inc headquarters on Tuesday to rally against President-elect Donald Trump's picking several former executives of the Wall Street bank for top jobs in his administration. Some of the 50 or so protesters wore swamp-monster masks in reference to Trump's pledge to "drain the swamp" that he said Washington has become and get rid of special interests. Goldman Sachs security guards sent employees and guests to entrances on the north side of the building on the rainy evening as protesters unrolled green sleeping bags on the southwest corner.




Wall Street falls with financials, other post-election gainers
Tue, 17 Jan 2017 17:34:49 -0500

Traders work on the floor of the NYSE in New YorkBy Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks fell on Tuesday, with financials, transports and other big post-election gainers losing ground as earnings season kicked into gear. Also weighing on stocks were concerns about protectionist trade policies planned by U.S. President-elect Donald Trump. The S&P 500 financial index , which has rallied since the election on expectations of higher interest rates and reduced regulation under Trump, had its worst day since June 27 and led sector losses.






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