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Stocks Have Only Been This Expensive One Other Time — And the Fallout Was Bad
Capital Markets
It’s getting tougher and tougher to find value in the U.S. stock market. By at least one popular investing metric, U.S. stocks have only been this expensive one other time in history, and things didn’t work out so well then. According to the cyclically adjusted price-to-earnings ratio — a measure of market value based on 10 years of smoothed earnings
Traders See Signs of Rotation into Financials Amid Nasdaq's Worst Day in Months
Capital Markets
High-flying tech stocks were hammered Wednesday, sending the Technology Select Sector SPDR Fund (NYSE: XLK) down more than 2.5 percent and the Nasdaq down 1.4 percent, its worst day of trading since August 17. Despite the bloodbath in the tech sector, the Dow Jones Industrial Average was trading higher by 0.2 percent, leading some traders to speculate that Wednesday’s trading
Geopolitical Uncertainty and the Global Economy
Capital Markets
SUMMARY PIMCO’s investment process is designed to encourage new ideas and differing points of view. One way we do this is by inviting outside experts to share their insights and help us test our thinking. These experts include the members of our Global Advisory Board, a team of world-renowned macroeconomic thinkers and former policymakers. Chaired by former Chairman of the
Report: Wells Fargo's Foreign-Exchange Business Was Also Scamming Clients
Capital Markets
We already know about the massive scandal across Wells Fargo's retail branches - that also turned out to be an insurance scam - but now it turns out the San Francisco-based bank's devious schemes allegedly went beyond just the retail space: Apparently some of the bank's business customers had also been ripped off by Wells Fargo's foreign-exchange business, the Wall
Tesla is Bleeding a Lot of Cash
Capital Markets
One of the big questions facing Elon Musk and Tesla as it began production of its Model 3 sedan in July, was whether the upstart company could meet Musk's ambitious goal of producing 20,000 cars a month in December - and whether the company even had the cash resources to accomplish that goal. Thus far, production of the Model 3
Jeff Macke Talks Walmart's E-Commerce Share, Retail Misconceptions
Capital Markets
E-commerce as a whole is growing at an astonishing pace: E-commerce business makes up 8.2 percent of U.S. sales and is growing at 15 percent. Wal-Mart Stores Inc (NYSE: WMT)'s recent quarter is a perfect example of e-commerce’s ascension, after the chain grew online sales 50 percent, sending shares to new all-time highs. Walmart is paving the way for more
Cyber Monday: What You Need to Know
Capital Markets
Thanksgiving and Black Friday have come and passed, which means it's time for the next key day for retail: Cyber Monday. What You Need To Know: Cyber Monday's history dates back to the early 2000s when companies offered online only deals. The tradition continues this year and consumers are expected to spend $6.6 billion throughout Cyber Monday, up 16.5 percent
America’s Supply-Side Scam
Capital Markets
Tax cuts masquerading as tax reform are the best way to describe the thrust of Washington’s latest policy gambit. The case is largely political – namely, the urgency of a Republican Congress to deliver a legislative victory for a Republican president. The consequences, however, are ultimately economic – and, unsurprisingly, likely to be far worse than the politicians are willing
The Upside of Unintended Consequences
Capital Markets
There is no question that there has been a rise in populism around the world during the last two years and it is continuing. The voters in selected democracies in the West have become dissatisfied with their governments and the political process, and they have become attracted to candidates who have promised them change and a better life. The election
Household Debt Rises to New Record of $13 Trillion
Capital Markets
1. Household Debt Hits New Record of $13 Trillion 2. Auto Loans: Delinquencies Rising in “Sub-Prime” Market 3. The Secret Congressional Sexual Harassment Slush Fund 4. Congress’s Office of Compliance – Guilty Until Proven Innocent Overview A new report from the Federal Reserve Bank of New York last week found that US household debt hit another record high in the