by Jim Bach
Billionaire hedge fund manager Bill Ackman has called Herbalife's multi-level marketing model a "pyramid scheme" and has taken out an expensive bet against the company.
But other noted money managers like Carl Icahn are defending Herbalife (NYSE: HLF) and taking the other side of the bet, igniting a skirmish between short sellers and long buyers.
U.S. markets failed to rally on Thursday morning despite news earlier this week that the U.S. economy grew by 4% in the second quarter. Dow Jones futures slipped 108 points (-0.64%), S&P futures were down 13.25 points (-0.67%), and Nasdaq futures were down 29.50 points (-0.74%).
News that weekly jobless claims rose to 302,000 are placing a drag on U.S. stock futures. With concerns about the labor market on the rise from investors and the Federal Reserve, all eyes will be on the U.S. employment report, set for release Friday morning.
Here’s a roundup of the top stories to watch in the stock market today...
by Diane Alter
The second-quarter earnings parade continues Thursday with a barrage of earnings from some key sector players.
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The fourth iteration of the Central Bank Gold Agreement (CBGA) has just been signed.
Essentially, it's a statement by Western Europe's most powerful central banks about how much gold they're willing to sell over the next five years.
Though done with no fanfare and barely any media coverage, its importance can't be overstated.
The real story lies with who hasn't signed, and what they're doing with their gold…
Stock market news, July 30, 2014: U.S. markets failed to rally this morning despite news that the economy grew by 4% in the second quarter and ADP reported that private-sector employers added 218,000 jobs in July.
The markets remained mixed until the afternoon, awaiting announcement from the conclusion of the two-day FOMC meeting. The Dow Jones lost more than 40 points after the Fed said it would cut bond purchases again, but offered little insight into future rate hikes.
Now, here are the top stock market news stories from today...
The Synchrony IPO price was set at $22 per share today (Wednesday), meaning the company raised $2.88 billion in its initial public offering.
Shares were priced at the low end of the previously proposed range of $23 to $26 per share. Synchrony Financial (NYSE: SYF) had been expected to raise $3.1 billion.
by Jim Bach
The U.S. Federal Reserve stuck to its usual script today after the Federal Open Market Committee (FOMC) meeting. The Fed announced the expected $10 billion cut to its almost two-year-old bond-buying program and reaffirmed its intention to keep interest rates low for a "considerable" period of time.
And yet the markets reacted to this "non-news" as if it were a surprise...
by Diane Alter
This week is one of the busiest for second-quarter earnings.
Among companies in the Standard & Poor's 500 Index, 148 post results this week, according to FactSet. A couple of key silver stock earnings are among reports to watch today (Wednesday) and tomorrow, and another is on tap to release results next week.
by David Zeiler
Which social media powerhouse – Facebook Inc. (Nasdaq: FB) or Twitter (NYSE: TWTR) – should investors buy now?
That's the question host Stuart Varney posed to Money Morning Defense & Tech Specialist Michael Robinson on FOX Business' "Varney & Co." program yesterday (Tuesday).
While both FB stock and TWTR stock are looking attractive right now, Michael had no problem whatsoever choosing one over the other…
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The first oil pipeline consisted of lengths of 2-inch wrought iron pipe that ran five miles, from a Pennsylvania oil field to a train station in Oil Creek.
Oil pipelines have changed how and where oil is found, refined, and sold and have turned America into one of the world's leading oil producers.
