The Fed rate cut craze is overblown, according to the man known as the “dean of valuation.” As investors watch every move made by the U.S. central bank, with traders seeing a 100% probability of a July interest rate reduction, they’re losing sight of what really matters for markets, said Aswath Damodaran, finance professor at New
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[embedded content] [The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell resumed his two-day semiannual testimony on monetary policy to the Senate Banking Committee on Thursday. In the first day of hearing in front
Traders work the floor of the NYSE. Brendan McDermid | Reuters Another day, another market milestone. The Dow Jones Industrial Average surged above 27,000 for the first time ever on Thursday, just a day after the S&P 500 topped 3,000. Here’s a look at the stocks that drove the last 1,000 points. It took the
James von Moltke, chief financial officer of Deutsche Bank AG, speaks during a fourth quarter results news conference in Frankfurt, Germany, on Friday, Feb. 2, 2018. Andreas Arnold | Bloomberg | Getty Images Deutsche Bank may have gone through a number of strategy overhauls in recent years, but its chief financial officer (CFO) told CNBC
Deutsche Bank headquarters Photo by Hannelore Foerster Deutsche Bank announced Sunday that it will pull out of its global equities sales and trading business as part of a sweeping restructuring plan to improve its profitability. Deutsche will also slash 18,000 jobs for a global headcount of around 74,000 employees by 2022. The bank aims to
Kai Pfaffenbach | Reuters Check out the companies making headlines midday: Chipmakers— Shares of chipmakers fell broadly, including Micron falling more than 1% and Qualcomm dropping less than 1%, after Samsung said its second-quarter profit would likely be down 56% from a year ago. The world’s largest smartphone maker and supplier of memory chips cited
Investor Paul Meeks is avoiding the group that made him famous. Meeks, who’s known for running world’s biggest tech fund for Merrill Lynch during the dot-com boom and subsequent collapse, is questioning valuations following the impressive run from the recent lows. “I’m neutral to frankly a little bit bearish on the sector that I’ve covered
A Federal Reserve rate cut could lead to the same challenges for Wall Street lenders that European banks have been dealing with for years, Lorenzo Bini Smaghi, the chairman of Societe Generale, told CNBC Saturday. The U.S. central bank was divided on projections for a rate cut this year at its last meeting, but the
Federal Reserve Chair Jerome Powell has the opportunity to reinforce market expectations for a late July rate cut or rein them in when he speaks to Congress in the week ahead. Powell testifies before the House Financial Services Committee Wednesday and at the Senate Banking Committee Thursday, and is expected to answer questions on the
President Donald Trump shakes hands as he announces his nominee for Chairman of the Federal Reserve, Jerome Powell, in the Rose Garden of the White House in Washington, DC, November 2, 2017. Saul Loeb | AFP | Getty Images President Donald Trump and Federal Reserve Chair Jerome Powell have talked on the phone a handful