Stocks on track to close out month of big gains as jobs data looms

Traders work the floor of the New York Stock Exchange. NYSE Stocks next week will come off one of their best months ever into a busy week of economic data and the ongoing tensions between the spreading virus and positive news on vaccines and treatments. Another highlight of the week is expected to be Tuesday’s … Read more

One of November’s worst-performing stocks could have 30% upside, chart suggests

One of November’s worst performers could soon see a sustained comeback. That was two traders’ takeaway from a review of some of the month’s biggest S&P 500 laggards, including but not limited to: The above declines are as of Wednesday’s close. “Several of these turkeys … have definitely violated uptrends in this last month, but … Read more

China braces for more defaults among state firms in 2021 — and that could be a good thing

A Chinese national flag seen in front of Oriental Pearl Tower in Shanghai on September 8, 2019. Alex Tai | SOPA Images | LightRocket via Getty Images SINGAPORE — Bond defaults by Chinese state-linked companies are set to continue into the new year, but analysts say that may be a good thing in the long … Read more

Coinbase hit by connection, latency problems as bitcoin plummets

The Coinbase cryptocurrency exchange application seen on the screen of an iPhone. Getty Images Europe | Getty Images Cryptocurrency exchange Coinbase said on Thursday its retail and professional-focused platforms were hit by tech problems, with users reporting difficulty trading as bitcoin plunged towards its biggest one-day drop since September. California-based Coinbase said on its website … Read more

Barclays predicts some stocks like BP could rally more than 50% next year

Barclays Bank building Chris Ratcliffe | Bloomberg | Getty Images Barclays has backed European equities to hit new highs in 2021, with 13% potential upside for the Stoxx 600 and two stocks offering more than 50% potential returns. In their 2021 outlook, equity analysts at the bank said a stock market rally would mostly be … Read more

Bitcoin plunges by nearly $3,000 after closing in on its all-time record

studioEAST | Getty Images LONDON — Bitcoin has plunged by close to $3,000 in less than 24 hours after hitting highs not seen since the end of 2017. The price of bitcoin was trading at $19,374 at 1:45 p.m. London time Wednesday when it began its slide. The losses accelerated overnight, with the price falling … Read more

After market’s November surge, there may be less of a chance for a big ‘Santa rally’

Traders work the floor of the New York Stock Exchange. NYSE November’s strong rally may have stolen some of the thunder from a year-end rally. Promising vaccine news spurred a major rotation in November into cyclical stocks, like industrials and financials – the stocks that will do well in an economic recovery. The S&P 500 … Read more

Morgan Stanley’s Jonas downgrades Ford, says EV strategy is not clear

Ford CEO Jim Farley takes off his mask at the Ford Built for America event at Fords Dearborn Truck Plant on September 17, 2020 in Dearborn, Michigan. Nic Antaya | Getty Images (This story is for CNBC Pro subscribers only). Ford‘s pivot to electric vehicles lacks a clear direction and its share price will suffer … Read more

Deutsche Bank picks the currencies that could soon hit new highs on vaccine breakthroughs

Small bottles labeled with a “Vaccine COVID-19” sticker and a medical syringe are seen in this illustration taken taken April 10, 2020. Dado Ruvic | Reuters Several emerging market currencies could hit fresh highs before the end of 2020 due to the optimism surrounding coronavirus vaccines, according to new research from Deutsche Bank. The German … Read more

Trump’s tariffs could give Biden ‘leverage’ over China, former White House trade negotiator says

President Donald Trump’s trade tariffs have created “leverage” that the incoming Biden administration could use to get the outcomes it wants on the international stage, said former top White House trade negotiator Clete Willems. Trump slapped elevated tariffs on major trading partners such as China, Canada and the European Union for what he said were … Read more