Tech stocks have been on a tear lately and will continue to outperform the broader market for two key reasons, according to Goldman Sachs. The tech-heavy Nasdaq 100 — which tracks the 100 largest companies in the Nasdaq composite — closed at an all-time high of 5,646.09 on Friday. “NDX vs. S&P 500 returns show low correlation with changes in inflation, interest rates, USD and oil.” “However, NDX is heavily concentrated in growth equities and NDX vs. S&P 500 relative returns are positively correl

Tesla will do in three years what it took Porsche a decade to do 5 Hours Ago | 00:48Tesla will do in three years what took Porsche a decade to do, an analyst said Monday. The electric car maker is an “extreme growth story” that cannot be valued in the same way large automakers are, said Evercore ISI analyst George Galliers said in a research note. The rates at which Tesla’s top-line metrics are growing are unrivaled, Galliers said. Tesla’s unit sales grew just over 50 percent last year and autom

Straight Path Communications shares surged by a third after the company announced that an unnamed telecommunications company had raised its offer to buy the wireless spectrum holder. CNBC has learned that the new bid came from Verizon Communications. Sources familiar with the matter also told Reuters that the unnamed company was Verizon. The latest move in a bidding war with AT&T sent Straight Path’s stock up 33 percent on Monday, to $52.01 a share. The all-stock offer of $184 per share represen

While Toys R Us was minding the store, it admits that it fell behind on e-commerce. The revamp is part of a nearly $100 million investment by Toys R Us over the last three years that is geared toward jump-starting an e-commerce experience that it acknowledges lagged some of its retail peers. “Some organizations recognize faster than others there are shifts in the ways customers want to be communicated with and the way customers want to purchase products,” says Toys R Us CEO David Brandon. Retai

Brexit may have been good for the British wealthy — especially billionaires. The U.K. added 14 new billionaires last year, bringing the total to a record 134, according to the Sunday Times Rich List. The Times said London has the most billionaires of any city, with 86. The richest family in Britain is actually a duo — brothers Srichand and Gopichand Hinduja, who own the Hinduja Group conglomerate. The Times pegs their net worth at 16.2 million pounds, or around $21 billion.

Tesla comes from a high-priced segment, however they are moving down,” Mr Diess said, referring to the $35,000 Model 3, which enters production this summer. Mr Diess was speaking at what VW called its “first” annual press conference — an odd phrasing for a company that is 80 years old. What it signified is that Mr Diess, a cost-cutting executive poached from BMW in July 2015, is drawing a clear line between the VW brand and the VW Group. To enhance the value of the VW brand, it has started to se

About 250 North American drillers and oil field services companies have filed for bankruptcy, according to a count by law firm Haynes & Boone. Last week, LinkedIn reported hiring in the oil and energy sector among people on its platform was 30 percent higher in April than a year ago. Cities that have seen hiring rev up include Houston, Dallas, Oklahoma City, San Antonio and Pittsburgh, the data show. Head count should remain on an upswing so long as oil prices stay where they are today — around

The Environmental Protection Agency has removed “at least five” members of a scientific review board and may consider replacing them with representatives of industries it regulates, The New York Times reported. It is not clear from what industries or companies the replacement members of the board could come. Trump has promised to boost oil and natural gas production in the United States while helping a flagging coal industry. An EPA spokesman told CNBC in a statement that the agency received “hu

The debate over whether to officially pull the US out of the Paris climate accord has been raging in the Trump White House for months. Leading the charge to pull out are the nationalists, principally Steve Bannon and White House counsel Don McGahn, and the committed climate deniers, principally EPA Administrator Scott Pruitt. Ivanka, the closest thing they have to a representative in the White House, is reportedly going to try to talk sense to Pruitt on Tuesday morning. Even if, like Trump, you

The proper Fed policy rate for that situation, he concluded, was less than one percent — about where the rate is now following the Fed’s most recent rate rise in March. In remarks at an Atlanta Federal Reserve bank conference, Bullard said hefound in a recent study that much of that decline could be attributed to strong demand for safe assets like U.S. Treasury securities. “The natural rate of interest, and hence the appropriate policy rate, is low and unlikely to change very much,” said Bullard

“We have met the maximum employment part of our mandate and inflation is nearing our 2 percent goal,” Mester, who regains a vote on the Fed’s policy committee next year under a rotation, said at the Chicago Council on Global Affairs. Mester also repeated she would back starting the process later this year of shedding some of the $4.5 trillion in bonds in the Fed’s portfolio. She largely dismissed a weak inflation reading in March and soft overall economic growth in the first quarter as one-off e

The longest expansion period in the U.S. economy may be underway 1 Hour Ago | 00:53Since the financial crisis, the economy has never been called robust, but it may be in the longest expansion on record, with a couple more years to go. Goldman Sachs economists said, in a recent note, that their model shows an increased 31 percent chance for a U.S. recession in the next nine quarters. The current expansion has already lasted 95 months, now the third-longest in U.S. history in 33 business cycles go

Growth in luxury house prices of 36.2 percent in China’s third largest city, Guangzhou, has helped to bump the global index up 4.3 percent in the first quarter, according to a report from Knight Frank published Monday. Capturing the top position, Guangzhou nudged Beijing into second place and Shanghai into fourth, given a more limited inventory and a slow-to-act policymaking body as opposed to its rivals which saw initiatives aimed at cooling the real estate market introduced more rapidly. Such

For retirees, Boca Raton, Florida, is out and Chesterfield, Missouri, is in. Such were the findings of an analysis of the best cities for seniors to retire by GoodCall, a firm that compiles consumer research related to personal finance. The study also weighed the migration patterns of those over 65, health-care costs, weather, crime rates and the availability of arts and recreation. They also offered lower health-care costs, averaging about 5 percent below the national average cost. Here are the

Trump: This has brought the GOP together Thursday, 4 May 2017 | 3:22 PM ET | 02:20There’s at least one thing that Republicans in the House of Representatives and Senate can agree on when it comes to replacing Obamacare: Health savings accounts. HSAs, introduced in 2003 during President George W. Bush’s administration, offer you triple tax advantages: First, contributions are tax-deductible. “HSAs offer tax breaks no other retirement vehicle can match,” said Begonya Klumb, CEO of UMB Bank Healthc

For Sylvia Acevedo, interim CEO of Girl Scouts of the USA, a degree in engineering wasn’t an obvious path. Today she encourages other young girls to consider STEM (science, technology, engineering and mathematics) and advises them not to be daunted by the fact that you could be the only girl in the classroom. Acevedo grew up near Las Cruces, New Mexico. “When I was a kid, girls like me weren’t even graduating from high school, much less going on to college,” she said. Although Acevedo scored the

European equities look on course to achieve double-digit growth before the year is out, according to one investment manager who is predicting a return to 2007 highs. “The European project and the euro zone currently has all the right ingredients for investors to be in there,” Vassilis Papaioannou told CNBC Monday. European equities were buoyed by Macron’s victory in early deals Monday but quickly slipped by mid-morning as some investors moved to cash in their gains. The reflation trade to me loo

Warren Buffett said Monday the Republican health-care bill would slash his taxes. “It was huge what they did on cutting taxes for the rich” in the GOP’s measure to replace Obamacare, Buffett said Monday on CNBC’s “Squawk Box.” “If there’s one clear-cut message that comes out of that bill it is we’re going to cut the hell out of income taxes for the rich on investment income.” The tax cuts are in the House Republican bill, which calls for the repeal a 3.8 percent investment tax, such as capital g

But in a White House meeting on biomedical research Monday, which included executives from drug companies as well as academic and government health leaders, the topic didn’t come up. The group was invited to the Oval Office after the two-hour meeting to share conclusions with the president, Collins said. There are already reports of a negative impact on biomedical startups and research as a result of Trump’s proposed cuts. “Some have argued maybe we don’t need the government involved in research

30-year-old Brooklynite Christian makes a good salary: After taxes, he takes home around $3,500 a month. Unfortunately, a Seamless addiction is only one of his problems. He owes $93,000 in student loans, which he’s been avoiding for the last decade. Because he hasn’t started making payments, his credit score is a low 540. Ideally, he wants to move out on his own in the next few years, but right now he’s stuck, because a good-to-excellent credit score is key when it comes to unlocking real estate