Tag: Investment strategy

May82023 by Waqas-ChNo Comments

Supreme Court’s student loan forgiveness vote may affect reenrollment

Halfpoint | Istock | Getty ImagesAs of the latest tally, another 1.4 million Americans have dropped out of college — although some may reenroll if the Supreme Court affirms President Joe Biden's student loan forgiveness plan and their education debt is forgiven, a new report shows.Overall, college enrollment declines have begun to level off, but the number of students who started college but then withdrew rose 3.6% in the 2020-21 academic year, according to the National Student Clearinghouse Research Center. There are now more than 40 million students who are currently unenrolled.More from Personal Finance:Best colleges for financial aidHow new grads can better their odds of landing a jobThis strategy could shave thousands off the cost of collegeAnother 41% of current college students s...

May62023 by Waqas-ChNo Comments

Regional bank stocks could be a market afterthought in the week ahead

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For the immediate economic and earnings and growth outlook, it almost seems irrelevant whether regional bank stocks rally, steady or sell off more next week. Regional banks were top of mind for investors this past week, as First Republic failed , the SPDR S & P Regional Banking ETF tumbled more than 10% — twice the five-day loss in the S & P 500 Energy Index, the hardest hit S & P sector — and lenders such as PacWest Bancorp and Western Alliance Bancorp lost billions in market value. And, for all that, the S & P 500 only fell about 0.75% this week. Now the conventional wisdom on Wall Street is that regardless of how the regional bank stocks trade, it's a given that bank lending officers are going to pull in their horns and risk management desks will grow more risk averse...

Apr292023 by Waqas-ChNo Comments

JPMorgan Chase, Bank of America asked for bids

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A First Republic bank branch in Manhattan on April 24, 2023 in New York City.Spencer Platt | Getty ImagesU.S. regulators have asked banks for their best and final takeover offers for First Republic by Sunday afternoon, in a move that authorities hope will calm markets and cap a period of uncertainty for regional lenders.JPMorgan Chase and PNC are likely bidders for the ailing lender, which would be seized in receivership and immediately sold to the winning bank, according to people with knowledge of the situation. The Wall Street Journal reported those banks' interest late Friday.related investing newsOther companies are likely to step up. Bank of America is among several other institutions that are weighing a potential bid for First Republic, according to people with knowledge of the m...

Apr282023 by Waqas-ChNo Comments

Stocks gain, Eli Lilly, Amazon

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Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Friday's key moments. Stocks head for winning week Discipline with Eli Lilly Stick with Amazon 1. Equities on track for winning week The major U.S. stock benchmarks are on track for weekly gains amid a flurry of earnings reports. The Dow Jones Industrial Average on Friday added about 130 points, or 0.4%, while the S & P 500 climbed about 0.3%. The tech-heavy Nasdaq Composite was the laggard Friday, oscillating between minor losses and gains. But the Nasdaq is the best-performing index for the week, climbing nearly 0.6% so far, following strong quarterly results from Big Tech firms, including Club holdings Meta Platforms (META) and Microsoft (MSFT). The blue-...

Apr142023 by Waqas-ChNo Comments

Citigroup (C) earnings Q1 2023

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Citigroup reported rising net income and better-than-expected revenue for the first quarter, boosting its stock Friday even as the bank's executives expressed caution about the path of the U.S. economy.Here is how Citigroup's key metrics compared with expectations.$4.6 billion in net income vs. $4.3 billion in the same period last year$21.45 billion in revenue vs. $19.99 billion expected, according to Refinitiv.Citigroup reported earnings of $2.19 per share for the quarter. It was not clear how comparable that number is to estimates, but it appeared to be a solid beat, based on both GAAP and adjusted earnings per share.Shares of the bank rose about 4%.Stock Chart IconStock chart iconCiti's stock rose after the bank reported better-than-expected results for the first quarter. The results...

Apr122023 by Waqas-ChNo Comments

Wall Street sees a semiconductor industry bottom coming. We own Nvidia, AMD

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Semiconductor stocks are on a roll this year, with Club holding Nvidia (NVDA) leading the way. Two popular exchange-traded funds — the iShares Semiconductor ETF (SOXX) and VanEck Semiconductor ETF (SMH) — are both up roughly 25% in 2023, more than three times the year-to-date return of the S & P 500 . Though to be fair, the chipmakers did have a lot more room to bounce back after performing horribly in last year's terrible market. Case in point, Nvidia and fellow Club stock Advanced Micro Devices (AMD), among our worst performers last year, are some of our best in 2023 — soaring year-to-date by more than 85% and 45%, respectively. NVDA AMD YTD mountain Nvidia vs. AMD year to date So, the question now is: Can the rally in semis continue? To help us read the tea leaves, here's a look ...

Apr112023 by Waqas-ChNo Comments

58% of Americans are living paycheck to paycheck, CNBC survey reveals

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Between higher costs and a possible recession on the horizon, families feel increasingly strained financially. More than half, or 58%, of all Americans are now living paycheck to paycheck, according to the CNBC Your Money Financial Confidence Survey, conducted in partnership with Momentive. And even more — roughly 70% — said they feel stressed about their finances, mostly due to inflation, economic uncertainty and rising interest rates, the survey found."Whether or not you have significant wealth, everyone is feeling squeezed," said Misi Simms, portfolio manager at TIAA, a Fortune 100 financial services company.How to manage financial stressAdults who are struggling to afford their day-to-day lifestyle feel even more under pressure, according to the CNBC survey conducted in March. They...

Apr102023 by Waqas-ChNo Comments

Stock market today: Live updates

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Traders work on the floor of the New York Stock Exchange (NYSE) on March 28, 2023 in New York City. Spencer Platt | Getty ImagesThe S&P 500 fell Monday as fears of a recession grew on Wall Street, and investors looked ahead to key inflation data this week.The broader index slid 0.65%. The Dow Jones Industrial Average traded 15 points lower, or 0.05%. The Nasdaq Composite lagged, falling 1.26%.Tech stocks struggled, with shares of Apple falling 1.9% and Google-parent Alphabet sliding 1.7%. Tesla shares fell 3.6% after the company said it will cut prices again on some electric vehicles.Markets are coming off a choppy week as investors digested signs of a weakening labor market. However, the March jobs report on Friday showed a resilient economy and moderate inflation, which pushed sto...

Mar232023 by Waqas-ChNo Comments

Binance employees, volunteers tell users how to evade China crypto ban

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Binance is the world's biggest cryptocurrency exchange, handling $490 billion of spot trading volumes in March 2022.Akio Kon | Bloomberg | Getty ImagesBinance is the world's largest crypto exchange by volume and assets, processing $9.5 trillion worth of trades in 2021 alone. But it's not supposed to be allowed to operate in China, which banned cryptocurrency trading in 2021.Binance founder Changpeng "CZ" Zhao has touted the exchange's know-your-customer systems, known as KYC, as a billion-dollar effort. Among other functions, they are supposed to stop customers that aren't supposed to be on the platform, including residents of China.But customers in China and around the world regularly subvert Binance's controls to hide their country of residence or origin, messages in Binance's officia...

Mar222023 by Waqas-ChNo Comments

Stock market today: Live updates

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A trader reacts as a screen displays the Fed rate announcement on the floor of the New York Stock Exchange (NYSE) in New York City, March 22, 2023.Brendan McDermid | ReutersThe Dow Jones Industrial Average slipped Wednesday as traders assessed the Federal Reserve's latest monetary policy move and weighed the central bank's next moves.As of 3:24 p.m. ET, the 30-stock Dow traded 57 points lower, or 0.2%. The S&P 500 traded just above the flatline while the Nasdaq Composite traded 0.3% higher.At one point, the Dow was up as much as 201.29 points before turning lower. The S&P 500 and Nasdaq gained 0.9% and 1.3%, respectively, at their session highs.The Fed raised rates by 25 basis points, as was widely expected. In a statement, the Fed's policymaking committee said it "will closely ...