Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters The record-setting stock market rally will gain steam in 2020 as the stage is set for the global economy to recover, according to J.P. Morgan. Dubravko Lakos-Bujas, the bank’s chief U.S. equity strategist, set his 2020 price target for the
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James Gorman being interviewed in Davos, Switzerland, January 21, 2016. David A. Grogan | CNBC Morgan Stanley is cutting roughly 2% of its workforce due to an uncertain global economic outlook, according to people with knowledge of the situation. The job cuts at the investment bank, the world’s biggest equities trading firm and a leading
Check out the companies making headlines before the bell: ArQule (ARQL) – The cancer drug maker agreed to be acquired by Merck (MRK) for $20 a share, or about $2.7 billion. That’s more than double ArQule’s Friday closing price of $9.66 per share. Canopy Growth (CGC) – The cannabis producer named Constellation Brands (STZ) Chief
If jobs market strength persists, Wells Fargo Securities Michael Schumacher isn’t ruling out a 2020 interest rate hike — especially if the Federal Reserve decides to add one more insurance cut early next year. His call comes less than a week before the year’s final Fed meeting on rates. “The Fed is not in a
T-Mobile CEO John Legere (L) and Sprint Executive Chairman Marcelo Claure (R) arrive to testify at the Senate Judiciary Committee’s Subcommittee on Antitrust, Competition Policy and Consumer Rights hearing on the proposed merger of T-Mobile and Sprint in the Dirksen Senate Office Building on Capitol Hill in Washington, DC, on June 27, 2018. Mandel Ngan
(This story is part of the Weekend Brief edition of the Evening Brief newsletter. To sign up for CNBC’s Evening Brief, click here.) The idea that we are late in the economic and financial-market cycle is one that even most Wall Street bulls won’t dispute. After all, when the economic expansion surpasses a decade to
(This story is part of the Weekend Brief edition of the Evening Brief newsletter. To sign up for CNBC’s Evening Brief, click here.) Wall Street veteran Karen Firestone knows all too well that stock picking isn’t as easy as it used to be, but her decades of experience is serving her well. Firestone runs a
U.S. President Donald Trump, with Speaker Nancy Pelosi and Vice President Mike Pence looking on, delivers the State of the Union address in the chamber of the U.S. House of Representatives at the U.S. Capitol Building on February 5, 2019 in Washington, DC. Doug Mills | Getty Images Citi is boosting its stock forecast for
Larry Kudlow, White House National Economic Council director, said the U.S. and China are “close” to a trade deal but that the administration was prepared to walk away if it did not get the terms they wanted. “The president has said many times if the deal is no good, if the assurances with respects to
China’s President Xi Jinping (L) and US President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017. AFP Contributor | AFP | Getty Images The Trump administration’s Dec. 15 deadline for new tariffs on China looms large, and while most strategists expect them to be