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Wall St. bounces back with eyes on earnings, China

20 Apr

Traders works on the floor of the New York Stock ExchangeU.S. stocks rose on Monday, cutting into the previous session’s sharp decline, as China’s steps to stimulate its slowing economy and as earnings, including those from Morgan Stanley, lured money back into equities. In the second industry-wide cut in two months, China’s central bank on Sunday reduced the amount of cash that banks must hold as reserves in a move to help spur bank lending and combat slowing growth. Morgan Stanley shares rose 1 percent to $37.11 after the Wall Street investment bank reported a 60 percent rise in quarterly profit and raised its dividend by 50 percent to 15 cents per share. Royal Caribbean fell 6.8 percent to $73.67 after it reported a 3.7 percent fall in revenue, saying a strong dollar hurt onboard spending by customers from outside the United States.

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Japan, U.S. report progress on trade talks, though Tokyo stands tough on rice

19 Apr

Japan's Economics Minister Amari shakes hands with U.S. Trade Representative Froman ahead of their meeting in TokyoJapan and the United States reported progress in top-level trade talks on Sunday that could pave the way for a broader trans-Pacific trade deal, although Tokyo cautioned that a bilateral accord was unlikely in time for a summit next week. Japan’s Economy Minister Akira Amari and U.S. Trade Representative Michael Froman both said they had made good progress in the first of two days of cabinet-level discussions. “We exchanged opinions about areas where Japan and the U.S. will cooperate in dealing with others” in the multilateral talks, Amari told reporters. Access to Japan’s farm market and the U.S. car market remain obstacles to a bilateral deal between the two nations, vital to the success of a long-delayed Trans-Pacific Partnership (TPP) pact.

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Anger Management: Why the Genius Founders Turned to Couples Therapy

18 Apr

Trying to keep their business partnership from imploding, Ilan Zechory and Tom Lehman decided they had to submit to couples therapy.

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Investors look to earnings for market direction

18 Apr

A Wall Street sign is pictured in front of the New York Stock Exchange, open during Winter Storm Juno, in the Manhattan borough of New YorkInvestors attempting to determine whether U.S. equities will rebound from Friday’s selloff or continue to sink will look to a deluge of earnings next week for a clearer picture of the economy. Equities lost ground after industrials Honeywell International and General Electric took hits from the strong dollar, while concerns over new trading regulations in China and Greece’s place in the euro zone dented sentiment. Investors have grown concerned about the impact of a strong dollar on quarterly results, even as they remain leery of missing out on any rally. “Our markets will get kind of quiet again as we wait for some of those earnings and what is going to happen on the 24th with Greece,” said Keith Bliss, senior vice-president at Cuttone & Co in New York.

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Wall Street slumps, hit by weak earnings, China

17 Apr

Traders works on the floor of the New York Stock ExchangeShares of Honeywell International shares dropped 2 percent to $101.53 after the manufacturer of aircraft climate control systems blamed a strong dollar for a 5 percent fall in revenue. “Eventually people have to say, ‘Ok, forget about the Fed and central bankers nonsense and focus on the fundamentals,’ because if the large-caps are coming in with lower-than-expected earnings, then you know that other smaller companies will be in trouble,” said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey. China H-Share index futures fell 3.3 percent. Global equities lost ground as the weakness in China carried through to European markets and then into the U.S.

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U.S. housing starts data underperforms; jobless claims rise

16 Apr

Job seekers browse tables at a veterans' job fair in Burbank, Los AngelesBy Lucia Mutikani WASHINGTON (Reuters) – U.S. housing starts rose far less than expected in March and permits recorded their biggest drop since last May, which could raise concerns about the economy’s ability to bounce back from a soft patch hit in the first quarter. There are expectations that growth will rebound in the second quarter, but the tepid housing starts report and a struggling manufacturing sector suggest the momentum will probably not be strong enough for the Federal Reserve to start raising interest rates before September. Groundbreaking increased 2.0 percent to a seasonally adjusted annual pace of 926,000 units, the Commerce Department said on Thursday. Starts for single-family homes rose, while groundbreaking for the multifamily segment fell last month.

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Wall St. opens up; Intel rallies on outlook

15 Apr

Traders works on the floor of the New York Stock ExchangeNEW YORK (Reuters) – U.S. stocks opened higher on Wednesday, with Intel Corp leading the advance a day after the chipmaker gave a reassuring revenue outlook.

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The Ski Resort That Crowdsourcing Built

14 Apr

The young owners of Powder Mountain in Utah use their networking skills to draw investors to their planned ski resort.

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Wall St. edges up after JPMorgan, J&J results

14 Apr

Traders works on the floor of the New York Stock ExchangeNEW YORK (Reuters) – U.S. stocks rose modestly on Tuesday as investors digested the initial major earnings of the first-quarter reporting season, which showed some weakness despite companies topping lowered expectations.

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Wall St. flat with earnings eyed; Apple, Qualcomm lift Nasdaq

13 Apr

Traders works on the floor of the New York Stock ExchangeGains on the Nasdaq outpaced the two other major Wall Street indexes, buoyed by gains in Qualcomm , up 1.6 percent at $70.28, and Apple , up 0.8 percent at $128.16. Activist investor Jana Partners asked chipmaker Qualcomm to consider spinning off its chip unit from its patent-licensing business to boost its sagging stock price. Analysts said Apple will likely ramp up production of the Apple Watch on strong pre-orders following its launch. Market participants have been concerned about the impact of the currency’s strength on the profits of multinational companies.

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