Tuesday, November 29, 2022
Home Tags Wall Street

Tag: Wall Street

Joe Biden Maintains Lead In Democratic Primary Field | Morning Joe | MSNBC

Biden’s Choice to Head the National Economic Council

The Story: President-elect Joe Biden has said that Brian Deese will direct the National Economic Council in a Biden administration. This is a blow to...
White House optimistic despite wild stock market swings

Donald Trump and the “Chaos Trades”

The Story: A theory about recent stock futures activity is spreading around the US that suggests a conspiracy involving President Donald Trump. It has become...
NYT Details Epstein’s Deep Ties To Wall Street | Velshi & Ruhle | MSNBC

NYT Details Epstein’s Deep Ties To Wall Street | Velshi & Ruhle | MSNBC

How did some of the most powerful men on Wall Street end up tangled in Jeffrey Epstein’s web? New York Times Reporter Kate Kelly joins Stephanie Ruhle to discuss her stunning reporting about Epstein’s connections. And Vanity Fair Special Correspondent…

Batten School and Center for Politics host Margaret Brennan

Margaret Brennan, a 2002 University graduate and moderator of CBS’s Face the Nation, spoke to a crowd of more than 170 students, faculty and community members in Garrett Hall Wednesday evening as a part of the Batten School and the Center for Politics’ “Democracy in Perilous Times” series. Brennan talked about her career as a journalist and her experiences prominently covering the White House and hosting a broadcast news program during the Trump administration. After studying foreign affairs, Middle Eastern studies, and Arabic while at the University, Brennan began working for CNBC covering Wall Street, later moving to Bloomberg Television to continue her financial reporting as an anchor. “And Wall Street is shorthand for how the world functions often … so I brought that and I brought my background covering national security policy, and those are things that are often on my front burner and headlines that catch my attention.” In her talk, Brennan noted the fast-paced nature of a television newsroom and explained the process of booking political figures for the Face the Nation broadcast, which airs Sunday mornings. “We try to make Face the Nation look like the nation,” Brennan said. “We try to incorporate more diversity of thought and perspective … People ask you these big picture questions of what things have changed, and I think that the storytellers have also changed. I think perspectives need to be more informed as well. You can’t just have the same point of view reflected and repeated all the time.” When an audience member asked what a news organization’s responsibility is in response to claims of fake news, Brennan described the dual responsibility of news outlets to provide accurate, comprehensive coverage and of media consumers to carefully choose which sources to watch, listen to and read. Read the paper and watch the news. And then I was looking at this idea of how to explain to people the roots of why things happen, the context for why things happen.

Obamacare Legacy: Three Sides of the Issue for 2020

One measure of Wall Street's sentiment about Obamacare is the value of the iShares US Health Care ETF (IYH). If you had invested $10,000 in this ETF back in 2010, what would have happened to that capital since?

Kamala Harris’ mortgage meltdown record under scrutiny as campaign heats up

No attorney general secured more for their state from Wall Street after the mortgage crisis. Attorneys in her office had singled out the bank for allegedly stacking foreclosure proceedings against homeowners, but Harris says she was hamstrung by legal rules protecting financial institutions from state legal action. Low-income housing advocate Paulina Gonzalez-Brito remains disappointed that Harris didn’t pursue a case. Still, some wonder what happened in the case of OneWest. “We didn’t have the legal ability because of the way the rules were written in favor of the banks in terms of our subpoena powers as the state attorney general,” Harris said. After she was elected to the Senate in 2016, Harris joined Warren and Democratic Sens. Her goal, she told The Chronicle, was “to give state AGs the power to go after federal banks and subpoena their officeholders and subpoena the people who are responsible.” It went nowhere in the GOP-controlled Senate. Harris points to other actions she took as attorney general to help homeowners. Since the creation of the unit in 2011, Gallegos said, the state Justice Department has “prosecuted 41 mortgage fraud cases.” As a presidential candidate, Harris has proposed policies intended to close a wealth gap that progressives argue was worsened by the mortgage meltdown. Email: jgarofoli@sfchronicle.com Twitter: @joegarofoli.

Stocks Retreat as Political Risks Trim Sentiment, China Trade Questions Linger

President Donald Trump heads to Vietnam for a summit with North Korea's Kim Jong Un aimed at regional denuclearization. Market Snapshot Global stocks pulled away from multi-month highs Tuesday amid a series of geo-political risks that trimmed risked appetite in the Asia region and could ripple into the U.S. trading session ahead of key housing data and Senate testimony from Federal Reserve Chairman Jerome Powell. President Donald Trump heads to Vietnam later today for a Wednesday summit with North Korean leader Kim Jong Un in Hanoi in which the two men will attempt to solidify terms of their 2018 meeting in Singapore aimed and the denuclearization of the Korean Peninsula. Trump told reporters in Washington Monday before heading to the region, however, that his trade team was "very close" to cutting a deal with China following weeks of negotiations between Washington and Beijing, adding it "could happen fairly soon, or it might not happen at all". The President's non-committal stance on trade talk progress, despite his decision to extend a March 1 deadline on tariffs, pulled Asia stocks from their recent five-month highs and allowed U.S. equity futures to trade lower in early European hours. Markets were also unsettled by news of a air strike by Indian jets into Pakistan, the first such incursion in three years, following a suicide bomb in the Pulwama District of the disputed region of Kashmir that killed 40 Indian military policemen. The MSCI Asia ex-Japan index, the broadest measure of regional share prices, was marked 0.54% lower heading into the final hour of trading while the Nikkei 225 slipped 0.37% to end the session at 21,449.39 points. Tesla Inc. (TSLA) were a notable early market mover, falling more than 3.5% in pre-market trading Tuesday after the U.S. Securities and Exchange Commission asked a Federal court to hold founder and CEO Elon Musk in contempt for violating an earlier agreement on his use of social media. Caterpillar (CAT) shares were also weaker and indicated lower 3% lower after the investment bank UBS cut its rating on the industrial equipment maker and cautioned that revenue and earnings forecasts will be pressured in a slowing global economy. Global oil prices were posted modest gains in early European trading, following yesterday's 3% decline -- the biggest of the year -- that was largely triggered by President Trump's that cautioned on the impact of higher crude on a fragile world economy and urged OPEC leaders to "relax and take it easy".

GM investors brace for earnings, potential political flak

Wall Street may need some convincing beyond GM’s reporting fourth-quarter profit and sales at least in line with expectations. For one, GM may soon find itself in even hotter water with Washington: Workforce cuts are expected to start to roll on Monday, said David Kudla, chief investment strategist with Mainstay Capital Management in Michigan. As the company unfurls more of its cost-cutting plans, expect “more political and public backlash,” Kudla said in a recent note. The macro picture is also not that favorable, with U.S. new-car sales slowing and concerns that GM profits may have peaked. Here’s what to expect: Earnings: Analysts polled by FactSet expect GM to report adjusted fourth-quarter earnings of $1.24 a share, compared with adjusted earnings of $1.65 a share in the fourth quarter of 2017. Estimize, a crowdsourcing platform that gathers estimates from Wall Street analysts as well as buy-side analysts, fund managers, company executives, academics and others, expects GM to report an adjusted profit of $1.34 a share. Stock reaction: GM shares have roared 16% this year. What else to look for: GM in January raised its profit guidance for 2018 and said its 2019 profit would grow thanks to resilience in two of its largest markets, the U.S. and China. Any changes, if needed, would likely come later in the year, Nelson said. The car maker shook markets in November by announcing a sweeping restructuring plan that included layoffs, closing plants, and streamlining its vehicle lineup.

BlackRock’s Larry Fink rattles employees amid political posturing

Laurence “Larry” Fink, the founder and chief executive of BlackRock, recently told the firm’s 14,000 employees that he is instituting potentially the most aggressive diversity program in Corporate America ensuring that, “a bunch of white men”, will no longer be running the world’s largest money management firm. Larry Fink, BlackRock CEO, speech to employees The comments, obtained by FOX Business and confirmed by a BlackRock spokeswoman, come as Fink has ruffled feathers inside his company, as well as among some clients for embracing a number of progressive political causes and advocating what has been described as “corporate socialism” – a management concept that implores CEOs to run their companies in a way that doesn’t just benefit shareholders, but also “the communities in which they operate.” In his comments on diversity, Fink used surprisingly strident language and said executives could see their paychecks cut if they didn’t meet certain hiring goals, according to a text of his remarks. Fink, of course, isn’t the only CEO who supports progressive politics. To be sure, Corporate America and Wall Street in particular, have begun various programs and incentives for management to attract and retain more women and minorities to their executive ranks. From Bond Trader to Wall St.'s Soapbox Orator Fink, 66, has had a long and distinguished career on Wall Street, well before he became Wall Street’s most prominent soapbox orator. It is more recently that Fink's commentary – in public speeches, employee meetings and his annual “Letter to CEOs” – has taken a distinctly political turn. While Fink is said to be enjoying the spotlight, fashioning himself as the liberal conscience of Corporate America, competitors and many people inside BlackRock are less comfortable with his political commentary. “He’s just looking for publicity. He told employees that in 2019, BlackRock has achieved the highest percentage of women in the senior executive ranks, also known as managing directors. Women now comprise 56 percent of BlackRock’s new analyst class, and BlackRock has appointed five women to its board of directors.
President Trump's Own Advisers Are Sounding Economic Alarms Over Shutdown | The 11th Hour | MSNBC

President Trump’s Own Advisers Are Sounding Economic Alarms Over Shutdown | The 11th Hour...

The White House's own economic advisers admit the government shutdown is wreaking more economic havoc than previous believed. Jill Colvin discusses. » Subscribe to MSNBC: http://on.msnbc.com/SubscribeTomsnbc About: MSNBC is the premier destination for in-depth analysis of daily headlines, insightful political…