Done Forever: The Estonian Kroon (Reuters) In a few hours, Estonia will bid goodbye to their old currency: The Estonian kroon.
Another prominent market bull has joined the growing ranks of Wall Street strategists who think a correction is not far away.» Read More
A former Goldman Sachs executive, now working with the NFL Players Association, is crying foul against his former employer's negotiating tactics .
As a labor dispute between NFL owners and players drags on — and the viability of the 2011 season grows questionable — the rhetoric between the two sides is becoming more heated.
Nicole Lapin, of CNBC's Worldwide Exchange, explains what she's long and what she's short this week.
"Stock indexes headed lower on last day of year" (Yahoo Finance via AP) "Investors are taking profits after a strong year in the stock market. The Standard & Poor's 500 index and the Dow Jones industrial average are both up 14 percent for the year, including dividends, as a result of solid corporate earnings. The Nasdaq composite index, meanwhile, is up about 18 percent for the year after dividends."
Unexpectedly Strong Manufacturing and Labor Numbers Surprise Investors (Financial Times) "Hopes of an acceleration in the US economic recovery in 2011 received a boost as fresh data on the health of the manufacturing sector and the labour market were strikingly better than forecasters had predicted. The Chicago purchasing manager’s index, — a measure of manufacturing activity in the Midwest — soared from 62.5 to 68.6, the highest level since the late 1980s and way above economists’ expectations. Meanwhile, the outlook for the jobs market brightened as the number of Americans filing to receive jobless claims unexpectedly dropped below the 400,000 mark for the first time in more than two years." And yet all major U.S. indices close down for the day. Interesting.
"Who's Afraid of Rising Rates? Pros Get Ready For Move" \(CNBC\) CNBC's Jeff Cox talks interest rates and market impact: "Though historically low interest rates have been at the core of much of the rally across asset classes in 2010, that doesn't mean anticipated higher rates in 2011 will stop investors from making money. Strategists remain bullish on the stock market, with forecasts of 10 to 20 percent gains abounding. But market pros remain mostly sanguine about bonds as well, even though rising rates and accompanying inflation usually eat away at the value of fixed-income instruments."
Forty-eight hours before his swearing in as governor, attorney general Andrew Cuomo has cut a deal with Steve Rattner .
And the terms are favorable — for Rattner.
The upshot is this: Rattner pays $10 million in restitution, and agrees to a ban preventing him from appearing before any public pension fund in New York for five years.
Cuomo's office had originally sought a $26 million fine — and a lifetime ban from financial dealings with New York pension funds.
Various members of the NetNet crew are in and out this vacation and snow-filled week, so we've asked a few friends to fill in. The following is from hedge fund manager and financial columnist James Altucher ...
Whatthetrend.com has an interesting list of the non-tech companies that appeared most on twitter over the past year. Basically, they looked for companies appearing the most in tweets and eliminated Apple, Google, Microsoft, etc. The funny thing about the list is that I've barely heard about some of these companies:
We’ve all seen the deficit numbers. Twenty-five billion for California. Fifteen billion for Illinois. Ten billion dollars for New Jersey.
Meredith Whitney says we will all feel the states' pain in the spring when federal stimulus money dries up.
Some set the D-Day date for states even earlier, possibly even next month. CEO turned Tennessee Governor Phil Bredesen predicted that , in January, some states would have, "A cliff they’ve got to navigate. There’s going to be some dislocation. You’re going to see some problems."
CNBC's Patti Domm and Jeff Cox discuss the jobs report and the current dilemma of long-term unemployment.
CNBC's Patti Domm and Jeff Cox discuss the recent GDP numbers and what factors have been affecting it.
Investors give and investors take away, and nowhere has that been more true lately than in value stocks.
Apple, once a can't-miss stock, is finding it tough to persuade portfolio managers to come back into the fold.
CIT Group is buying regional bank OneWest Bank in a $3.4 billion cash-and-stock deal.
Four years after the Dodd-Frank was signed into law, its co-authors said it isn't the last chapter on reform.