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President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
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Joe Biden called on President Donald Trump Friday to release the transcript of a call with a foreign leader that is the subject of a whistleblower complaint. Biden described...Politicsread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
Palantir Technologies is targeting a valuation of at least $26 billion in a private fundraising round, the first for the Peter Thiel-backed data analytics startup in four...Wall Streetread more
Michael Pack, a conservative filmmaker linked to Steve Bannon, saw at least $1.6 million in donations from his nonprofit sent into the coffers of his independent production...Politicsread more
The New England Patriots released Antonio Brown just 11 days after signing the wide receiver. The NFL Super Bowl champion team initially had kept him in the face of a rape...Sportsread more
Stocks are poised for another year of strong gains on the back of 2017's big jump, according to a simple chart put together by strategists at Credit Suisse.
The has gained more than 18 percent in a year 20 times since 1951, the chart shows. Those advances have been followed up by an annual increase of more than 10 percent on 10 occasions during that time.
Check out the chart below:
"Historically, strong returns tend to be followed by strong returns in the subsequent year," Jonathan Golub, the bank's chief U.S. equity strategist, said in a note Tuesday.
Equities had a banner year in 2017, with the S&P 500 rising 19.4 percent. Stocks got a boost last year from strong growth in corporate earnings, solid economic data and expectations for lower corporate taxes. Last month, President Donald Trump signed a bill that slashed the corporate tax rate in the U.S. to 21 percent from 35 percent.
Credit Suisse was already bullish on U.S. stocks for 2018. Golub has a 3,000 target on the S&P 500 for this year. His target — along with his $155 earnings-per-share estimate — reflect "better corporate results (primarily in TECH+, Energy and Materials), a pickup in GDP forecasts for the upcoming year, and recent tax changes," he said.