As markets hold close to all-time highs, one technician sees the industrial sector readying itself for an even larger move higher. “As you can see, we are just knocking on the ceiling up around the $81-$82 region multiple times here.” “The market really, really wants to break through here. The XLI’s top components also support a break higher, says Gordon. To take advantage of a move higher, Gordon is buying the 80 call with Dec. 20 expiration and selling the 85 call.

In this July 18, 2019, file photo, Moulard ducks, a hybrid white farm Peking duck and a South American Muscovy duck, are caged and force-fed at Hudson Valley Foie Gras duck farm in Ferndale, N.Y., to fatten their livers to produce foie gras. The sale of foie gras in New York City, perhaps already a faux pas, is now likely to become illegal. Farmers who produce foie gras say the birds are treated humanely and don’t suffer during the fattening process. The bill would impose a $1,000 fine and up to

Hedge fund manager Bill Ackman reportedly thinks WeWork could be worthless, noting Japanese investment giant SoftBank “should have walked away” from it. “I think WeWork has a pretty high probability of being a zero for the equity, as well as for the debt,” Ackman, founder of hedge fund Pershing Square Capital Management, said at the Robin Hood investor conference on Tuesday, according to The Financial Times. “As someone who has put good money after bad, I think this looks like putting good money

Media mogul Barry Diller told CNBC on Wednesday that despite his reservations about an Elizabeth Warren presidency, she’s still a better candidate than President Donald Trump. I’d vote for her,” said Diller, a major Democratic donor and vehement critic of the president, who labeled Trump an “evil miracle” and called his presidency a “joke.” Diller, who voiced his concerns about Warren’s anti-wealth rhetoric during Wednesday’s “Squawk Box” interview, seemed to hold out hope that she would soften

The Federal Reserve’s decision to cut interest rates by a quarter point for the third time this year is meant to bolster the economy. “In this case, a Fed rate cut would not be very good” for savers or borrowers, Barrington said. With a rate cut, the prime rate lowers, too, and credit cards likely will follow suit. “A quarter of a percent decrease isn’t going to rescue anyone,” said Sara Rathner, a credit card expert at NerdWallet. Currently, the average five-year new car loan rate is 4.61%, up

The company allegedly had research from consulting firm McKinsey & Co. that showed customers would purchase mint instead. Sales of mint pods surged after the sweet flavors were removed from stores. Mint pods accounted for about two-thirds of Juul’s total pod sales in February 2019, up from about a third the previous September, the lawsuit alleges. Breja, who claims he was fired in retaliation for sounding alarms at Juul, says the company knowingly sold at least 1 million contaminated mint-flavor

Boeing CEO Dennis Muilenburg was grilled over his salary on Wednesday, the second day of congressional hearings after two fatal crashes involving 737 Max jets. Cohen asked if anyone at the company had taken a pay cut amid the grounding of the 737 Max. “You’re saying you’re not giving up any compensation at all,” Cohen asked Muilenburg. He earned total compensation of just under $23.4 million for 2018, according to a Securities and Exchange Commission filing. Correction: This story has been updat

President Donald Trump slammed House Speaker Nancy Pelosi in front of a crowd of top GOP donors and House Republicans during a fundraiser at his Washington hotel. Over 115 GOP House members had been expected to attend the event at the Trump International Hotel. The affinity between House Republicans and Trump was evident in another moment Tuesday night, when the president endorsed the California lawmaker to be the next speaker of the House. The Trump campaign declined to comment and the White Ho

The case, brought by New York Attorney General Letitia James, alleges that the company deceived investors about the true cost of climate change. Exxon assesses the impact of climate change through a public proxy cost, as well as through a greenhouse gas cost. These costs are meant to show shareholders that the company is calculating the impact of climate change and waning fossil fuel demand on long-term projects. Under cross-examination by Exxon attorney Ted Wells, Tillerson once again said that

The Federal Reserve just cut interest rates for the third time this year and said it will likely pause from here. CNBC used Kensho, a hedge fund analytics tool, to track what happened to the market after the Fed cut interest rates at least three times. In the past 25 years, this has happened on four occasions and data shows that when the third cut was the last cut, stocks got a healthy boost in the following year. In 2001 and 2007, during the dotcom bubble and the financial recession, the Fed cu

This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued on Sept. 18 after the Fed’s previous policymaking meeting. Text removed from the September statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both statements.

Federal Reserve Chairman Jerome Powell was set to speak to media representatives Wednesday following the conclusion of the central bank’s two-day policy meeting where it cut rates for a third time this year. The Fed indicated it may pause rate cuts from here however, leaving markets on edge. Powell will be asked to elaborate on this change. The Fed chief will also be asked about his views on the economy generally and how the Fed is handling the recent volatility in the repo markets, where banks

The Federal Reserve approved an expected quarter-point interest rate cut Wednesday but indicated that the moves to ease policy could be nearing a pause. In a vote widely anticipated by financial markets, the central bank’s Federal Open Market Committee lowered its benchmark funds rate by 25 basis points to a range of 1.5% to 1.75%. Powell had used the phase in early June to tee up the July rate cut, and it has been incorporated into the official language since. “The Committee will continue to mo

The simple problem The first type of problem in Snowden’s framework is simple and obvious. With simple problems, the relationship between cause and effect is not only clear but obvious. The complex problem The third type of problem is complex, where you can only figure out afterward why what happened happened. Most of us wrestle with complex problems. That’s all it is — a series of small experiments in short periods of time to find a solution to a complex problem.

Money expert: 3 hacks to improve your credit score1 Hour AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Tiffany “The Budgetnista” Aliche has 3 simple tips to help you improve your credit score.

SugarBearHair even counts the Kardashian-Jenner clan as brand ambassadors, who reportedly command as much as $1 million for a single Instagram ad. In a world where consumers can easily get overwhelmed by options and medical terminology, vitamins offer a seemingly straightforward solution. Care/of promises “no overwhelming aisles of fine print,” while Ritual says its supplements contain “only essential nutrients a woman needs.” While these brands claim that their products can make consumers healt

According to numbers released Wednesday, President Donald Trump’s tax cuts may not have had the effect he promised. Business investment for the third quarter dropped 3%, after falling 1% in the previous quarter. The decline comes amid economic uncertainty, spurred in part by President Donald Trump’s trade war with China. Growth of the U.S. gross domestic product also topped expectations of economists polled by Dow Jones, despite the drop in business investment. Correction: The decline in busines

The rising hype surrounding esports has presented the industry with one big hurdle: The lack of scalable technology to meet the demands of an immense, digitally-based audience. Backing the company is famed value investor Joel Greenblatt, who expects Vindex is in a position to meet the demand and solve this problem plaguing esports. By 2021, that number could hit 645 million as the biggest esports events often draw in more viewers than traditional sports. And that’s why Greenblatt has decided to

Taco Bell’s parent company Yum Brands reported quarterly earnings on Wednesday that fell short of analysts’ expectations after its GrubHub investment weighed on profits. Yum’s two other chains, Pizza Hut and KFC, missed Wall Street’s estimates for same-store sales growth. Pizza Hut, the laggard of Yum’s three chains, reported flat same-store sales growth, falling short of Wall Street’s estimates of 1.5%. Last quarter, executives said that Pizza Hut could close more than 400 stores to restructure

The incoming CEO of Taco Bell’s parent company Yum Brands is not ruling out adding another brand to its restaurant portfolio. “We don’t need an acquisition to grow,” incoming CEO David Gibbs told analysts on the Wednesday conference call. “Our brands today are strong generally around the world, with plenty of growth opportunities, but we certainly wouldn’t rule out an acquisition.” Gibbs, who currently serves as Yum’s chief operating officer, will replace outgoing CEO Greg Creed in January. Its