Category Archives: Personal Finance

Personal Finance

Trump talks to U.S. automakers, pushes for new American plants

U.S. President Donald Trump urged the chief executives of the Big Three U.S. automakers on Tuesday to build more cars in the country, pressing his pledge to bring jobs to America and discourage the car industry from investing in Mexico. Trump, who has threatened to impose 35 percent tariffs on imported vehicles, opened a White House meeting with General Motors Co CEO Mary Barra, Ford Motor Co’s Mark Fields and Fiat Chrysler Automobiles NV’s Sergio Marchionne by saying he wanted to see more auto plants in the United States.
Source: Yahoo Finance

Chided by Trump, Ford scraps Mexico factory, adds Michigan jobs

FLAT ROCK, Mich./WASHINGTON (Reuters) – Ford Motor Co (F.N) on Tuesday scrapped a planned Mexican car factory and added 700 jobs in Michigan following criticism by Donald Trump, as the U.S. president-elect turned his attention toward rival General Motors Co (GM.N) with the threat of a “big border tax” over compact cars made in Mexico. Ford CEO Mark Fields called the move “a vote of confidence” in Trump, but primarily a response to a decline in North American demand for small cars like those that would have been made at the Mexican plant.
Source: Yahoo Finance

Asian shares wobble, knocked by Wall Street losses

MSCI’s broadest index of Asia-Pacific shares outside Japan was slightly higher in early trade, while Japan’s Nikkei stock index (.N225) slumped 0.6 percent. U.S. stocks, which have been on a tear since the Nov. 8 election on bets that the incoming Trump Administration will embark on growth-stimulating, inflation-stoking policies, pulled back from the record highs logged in the previous session. “There weren’t any major market-making data points coming out, and I think that’s why the markets are kind of taking a breather,” said Jennifer Vail, head of fixed income research at U.S. Bank Wealth Management in Portland, Oregon.
Source: Yahoo Finance

Wall Street loses ground after Trump rally

The Dow briefly rose to within 15 points of 20,000, a level it has never reached, but relinquished that gain and spent most of the session at a loss. U.S. stocks have rallied since the Nov. 8 election, with the Dow up 9 percent and the S&P 500 gaining 6 percent on bets that President-elect Donald Trump’s plans for deregulation and infrastructure spending will boost the economy. Some investors worry that the so-called Trump rally has made stocks expensive and are concerned that legislators may resist strong tax cuts and other policies that could widen the federal deficit.
Source: Yahoo Finance

Wall Street catches its breath after Trump rally

The Dow briefly rose to within 15 points of 20,000, the historic level it has threatened to breach for several days, but it relinquished that gain. U.S. stocks have rallied since the Nov. 8 election, with the Dow up about 9 percent and the S&P 500 6 percent on bets that President-elect Donald Trump’s plans for deregulation and infrastructure spending will boost the economy. The S&P 500 is trading at about 17 times expected 12-month earnings, well above the 10-year average of 14, according to Thomson Reuters Datastream.
Source: Yahoo Finance

U.S. home sales near 10-year high as mortgage rates rise

U.S. home resales unexpectedly rose in November, reaching their highest level in nearly 10 years, likely as buyers rushed into the market to lock in mortgage rates in anticipation of further increases in borrowing costs. The third straight monthly increase in existing home sales, reported by the National Association of Realtors on Wednesday, suggested housing would contribute to economic growth in the fourth quarter after being a drag in the previous two quarters. Existing home sales increased 0.7 percent to an annual rate of 5.61 million units last month, the highest sales pace since February 2007.
Source: Yahoo Finance

U.S. existing home sales rise to near 10-year high

U.S. home resales unexpectedly rose in November, reaching their highest level in nearly 10 years, likely as buyers rushed into the market to lock in low interest rates in anticipation of further increases in borrowing costs. The third straight monthly increase in existing home sales, reported by the National Association of Realtors on Wednesday, suggested housing would contribute to economic growth in the fourth quarter after being a drag in the previous two quarters. Existing home sales increased 0.7 percent to an annual rate of 5.61 million units last month, the highest sales pace since February 2007.
Source: Yahoo Finance

U.S. mortgage activity edges up even as rates head higher

U.S. mortgage application activity rebounded from its lowest level since January despite interest rates on 30-year fixed-rate home loans hitting their highest levels in over 2-1/2 years, Mortgage Bankers …
Source: Yahoo Finance

Dollar retreats from 14-year high, banks drag Europe shares lower

The dollar eased from 14-year highs on Wednesday, giving back some of the gains chalked up since Donald Trump’s U.S. election victory, while concerns over banks pulled European shares lower. Wall Street also looked set to open lower, according to index futures, after the Dow Jones industrial average climbed to within 25 points of the 20,000 mark on Tuesday. A widespread conviction that Trump’s policies will boost the U.S. economy has powered the dollar and Treasury yields since the Nov. 8 election pushed U.S. stocks to record highs.
Source: Yahoo Finance

A $1 million bet: Anatomy of a high-end house flip

One house flipper in Bethesda, Maryland, invested a $1 million in the hopes of a quick sale. Here’s what she was thinking.
Source: Yahoo Finance

LIVE: Stocks rebound despite global bond yields hitting record lows

Stocks rebound as US factory data improves , but gold is jumping, and bond yields across the globe are tumbling to record lows. Catch The Final Round at 4 p.m. ET.
Source: Yahoo Finance

Fed wants clarity on Brexit's impact before hiking rates

Federal Reserve policymakers decided in June that interest rate hikes should stay on hold until they have a handle on the consequences of Britain’s vote on EU membership, according to the minutes from the Fed’s June policy meeting released on Wednesday.
Source: Yahoo Finance

Donald Trump's casinos were the worst part of his business portfolio

He’ll never say so publicly, but Donald Trump must have considerable regrets about getting into the casino business in the 1980s.
Source: Yahoo Finance

There's a 'last ugly chapter' for crude oil, and we haven't hit it yet

Huge stockpiles of fuel and teeming strategic Chinese crude inventories could send oil prices on one last, ugly slide lower, analysts tell CNBC.
Source: Yahoo Finance

Goldman expects the S&P 500 to fall as much as 10% before ending the year at 2,100

It’s better to stay on the sidelines for now.
Source: Yahoo Finance

Live: Markets tumble as gold rallies

Join Market Movers live now for the latest premarket headlines.
Source: Yahoo Finance

UBS: Gold has never been more compelling

UBS analysts are making a bullish call on gold, saying that the yellow metal will march to $1,400/oz during the second half of the year. “Gold has likely entered the early stages of the next bull-run,” UBS’s Joni Teves wrote. Gold is currently trading at $1,375/oz, up $16 from …
Source: Yahoo Finance

Tesla told regulators about Autopilot crash nine days after accident

SAN FRANCISCO/DETROIT (Reuters) – Tesla Motors (TSLA.O) alerted regulators to a fatality in one of its electric cars in partial self-driving Autopilot mode nine days after it crashed, the company said on Tuesday, defending its decision not to make the accident public before a fed…
Source: Yahoo Finance

We're suffering the consequences of too much democracy

The Brexit vote exposed the downside of too much democracy.
Source: Yahoo Finance

How 2 US senators profited from America's financial crisis

Documents connect Senators Bob Corker and Mark Warner to controversial Wall Street deals.
Source: Yahoo Finance

Wall St. bull Tom Lee sees 5 reasons why stocks extend their post-Brexit shock rally

FundStrat’s Tom Lee told clients that the pullback in the stock market after the Brexit vote will need to be bought. He was right. And now he’s got some new advice.
Source: Yahoo Finance

How a billionaire hedgie hopes to fix corporate America

A new nonprofit, Just Capital, will rank American companies based “justness.”
Source: Yahoo Finance

Corporate Samckdown: Final Four trash talk from alumni execs

Prominent alumni of Syracuse, Villanova, UNC and Oklahoma sound off on the Final Four.
Source: Yahoo Finance

Bankers may have been underpricing corporate bonds by as much as $18 billion

Research firm Fideres Partners estimates that the underpricing of new debt may have cost U.S. companies as much as $18 billion in extra interest in bonds issued between 2010 and 2015.
Source: Yahoo Finance

Why Tesla's Model 3 is blowing away expectations

Within 24 hours of launching its first lower-price electric car, Tesla locked in a large base of paid reservations directly from retail buyers.
Source: Yahoo Finance

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