Cramer loves Enbridge for a number of reasons. “The payout could really balloon, and that’s saying something because Enbridge already gives you a 4 percent yield,” Cramer said. The administration placed a 20 percent tariff on Canadian softwood lumber and Trump has recently been critical of the country’s dairy industry. The alternative is buying from hostile regimes in the Middle East, something the Trump administration is likely to avoid. Trump is eager to embrace even international companies th

Add to that fact, that there have been precious few examples of tax cuts remaining revenue neutral. Let’s take the 1981 Reagan tax cuts, for example. Like President Trump’s team, the Reagan team argued that the tax cuts would pay for themselves with faster economic growth … something then-Budget Director David Stockman referred to as the “rosy scenario.” That monetary stimulus, coupled with supply-side tax cuts, caused the economy to boom, even as budget deficits ballooned. Once again, the unfun

Democrats argued that Trump’s campaign plan would help corporations and the wealthy more than middle-class Americans. Most independent analyses of Trump’s campaign tax plan said it would balloon the budget deficit over time even after higher tax revenue from greater economic growth is factored in. The White House appears not to support one possible revenue-raising tool, the controversial border adjustment provision included in the House tax plan. He said earlier that the White House wants a “com

However, Agnifilo conceded that the defense does not know which, if any of those MSMB documents, might have been acquired by prosecutors through a source other than Retrophin. If the government separately acquired all such documents, it would mean Shkreli would not have a right to suppress them from being used at trial. Matsumoto also questioned the idea of Shkreli having a right to the MSMB documents being kept out of the government’s hands, as opposed to MSMB, as a corporate entity, having tha

The world’s shipping players have a vested interest in preserving free global trade, and as they meet in Asia, they say they’ve grown unsettled by rising protectionism in Europe and the U.S.”If you hear the rhetoric of the Trump or the Brexit debate, it is completely contrary to the way we see growth and trade. “We see it as something mutually beneficial, but that’s not the language that’s being used by politicians,” he said. His comments came as protectionist rhetoric has surged in the wake of

Las Vegas Sands Corp. late Wednesday reported first-quarter earnings that were slightly below expectations although it indicated Las Vegas operations were strong and the Macau market was improving. At the same time, the Las Vegas operations delivered its best quarter since 2008, Adelson said. The company’s Venetian Las Vegas and Palazzo properties, including the Sands Expo and Convention Center, posted better results. It said contributing to the strong results were the Venetian Las Vegas and Pal

Traders are buying so many S&P 500 call options right now that the ratio of those contracts to put options hit an all-time high Wednesday, according to Credit Suisse. A call option is the right to acquire a stock in the future at a preset price. Xu calls this ratio the “call skew” and here’s the chart the bank sent clients Wednesday showing the metric at a record level. Call skew began climbing after the November U.S. presidential election, and the last time call skew hit a record was Feb. 14, X

American stocks are up nicely year to date — the S&P 500 has gained nearly 7 percent in 2017. The stellar performance in global markets is especially pronounced this week in the wake of the French presidential election’s first-round outcome last Sunday. Technology, on the other hand, comprises relatively little of the fund at just under 6 percent, while it comprises 22 percent of the S&P 500. “As long as global financials continue to rally, the EAFE index should outperform the S&P 500. Furthermo

The Bank of Japan raised its economic forecasts at its policy meeting outcome on Thursday, but it kept policy steady, as was widely expected. The BOJ raised its economic assessment. It increased its real gross domestic product (GDP) growth forecast for the 2017-18 fiscal year to 1.6 percent from the 1.5 percent projected in January. But it lowered its core consumer price index (CPI) growth forecast to 1.4 percent from 1.5 percent in the same period. “We believe that the bank remains too optimist

Wednesday’s pullback in Netflix should have investors scrambling to buy the stock, says Evercore ISI technician Rich Ross. Netflix shares dipped by a bit less than 1 percent in early Wednesday trading, its first down day in the past five. This price target implies a 19 percent rally for the stock. The first thing Ross points out in the chart of Netflix is the “really nice advance coming out of the presidential election” from November into early 2017. The “bottom” of that rally was $110, with the

The Trump administration wants to give companies a break on profits earned overseas and brought back to the United States — a program that’s been tried before to little effect. Current estimates put the total stockpile that U.S firms are holding abroad so as to avoid U.S. taxes at somewhere in the $2.5 trillion range. Back in 2004, Congress approved a plan to “repatriate” such overseas funds that companies could bring back home at a reduced rate. The hope then, as now, was that companies would s

On Wednesday afternoon, all 100 senators met with Secretary of State Rex Tillerson, Secretary of Defense Jim Mattis, Director of National Intelligence Dan Coats and Marine Corps. After the meeting, the top administration officials said President Donald Trump wants to pressure North Korea through tighter sanctions and diplomatic channels, but the United States is “prepared to defend” itself and allies. He called national security Trump’s greatest strength. “He’s got a great national security team

Despite indications earlier Wednesday to the contrary, President Donald Trump agreed not to terminate the NAFTA treaty “at this time” in afternoon phone calls with the leaders of Mexico and Canada, the White House said. President Trump agreed not to terminate NAFTA at this time and the leaders agreed to proceed swiftly, according to their required internal procedures, to enable the renegotiation of the NAFTA deal to the benefit of all three countries. President Trump said, “it is my privilege to

President Donald Trump is expected to take action on Friday to open more offshore areas to oil and gas drilling, in part by reversing his predecessor’s attempt to permanently protect large swaths of U.S. waters. The president plans to sign an executive order instructing Interior Department Secretary Ryan Zinke to review and in all likelihood throw out President Barack Obama’s plans for federally administered waters. The reversal will not come overnight. Bureaucrats must grind through a multiyear

Treasury Secretary Steven Mnuchin said the actual rate has yet to be determined and that the White House is “working with the House and Senate” on a repatriation rate, saying it would be “very competitive.” The repatriation tax “is definitely coming, they just don’t want to show their whole hand to the Democrats,” he said. Technology is the top performer in the S&P 500 for the year so far and the second best performer since the election — financial stocks are still the first. Many on Wall Street

The dollar only held its gains against the Japanese yen on Thursday after U.S. President Donald Trump’s tax plan offered no surprises, slowing the greenback’s rally. The Canadian dollar and Mexican peso, which had slumped earlier on reports the United States is considering withdrawing from the North American Free Trade Agreement (NAFTA), bounced sharply after Trump said he would not scrap the pact but renegotiate instead. The U.S. dollar had surged to a four-week high of 111.780 yen on Wednesday

Gold prices edged down on Thursday as global risk sentiment ebbed, but scepticism over U.S. President Donald Trump’s tax reform plan curbed further losses. Spot gold was down 0.3 percent at $1,264.60 per ounce as of 0736 GMT. Bullion prices edged away from a two-week low of 1,259.90 hit on Wednesday. “Gold is being pulled down by descending global risk sentiment… But the market is still worried about whether (U.S. tax cut) policy would be carried out as the rate cut is too steep…,” a trader

Oil prices fell on Thursday, weighed down by oversupply, but losses were limited by expectations that major exporters would agree to extend production cuts to try to rebalance the market. Benchmark Brent crude was down 57 cents, or 1.1 percent, at $51.25 a barrel by 7:30 a.m ET (1130 GMT), about 9 percent below this month’s peak. U.S. light crude was down 54 cents, or 1.1 percent, at $49.08. Traders reported ample supplies in all key markets despite efforts led by the Organization of the Petrole

Samsung shares initially dropped more than 1.8 percent after the company said it would not be introducing a holding company structure. Samsung SDI was closed lower by 2.86 percent, Samsung C&T dropped 6.84 percent and Samsung Engineering tanked 6.04 percent to close at 12,450 won per stock. Over in Hong Kong, China Vanke shares were down 1.93 percent following news that the sales of two Vanke property projects in the city of Xian, China had been halted. Vanke shares on the mainland closed 2.95 p

More and more North Korean elites think dictator Kim Jong Un is a weak leader, according to new research published Thursday from Rand Corp. citing senior officials who have defected. “North Korea’s elites have heavily gone into being entrepreneurs,” Bennett said. More than two-thirds of North Korea’s trade is with China, giving Beijing significant economic leverage on the rogue state. The key is winning over North Korea’s ruling elites, who see less of a future under Kim. Amid increasing tension