The company blamed its Q2 content slate and price increases for the subscriber miss.Technologyread more
Corporate earnings forecasts for the second quarter were lowered so much that companies are easily beating them.Market Insiderread more
The central bank is not normally in the business of easing into an economy that is showing few signs of a recession, generally holding fire until more pronounced signs of a...The Fedread more
IBM's year-over-year revenue has now declined for four quarters in a row. Impact from Red Hat is not yet factored into the company's guidance.Technologyread more
Netflix can sustain its lofty valuation only if global subscriber growth can support increasing content spending and debt. And growth is entirely dependent on Netflix's...Technologyread more
Prosecutors in Masschusetts have dropped a criminal case against actor Kevin Spacey, who had been accused of groping an 18-year-old man.Entertainmentread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
Trade negotiations between the world's two largest economies are stuck at a standstill, the Wall Street Journal reported Wednesday.Marketsread more
House Speaker Nancy Pelosi says she wants her chamber to vote on a debt ceiling and budget deal by July 26.Politicsread more
Philips has acquired a start-up that texts you about your poop. That's Medumo, a Boston-based company, which works with hospitals to guide their patients through common...Technologyread more
The "'Cadillac tax," set to go into effect in 2022, is unpopular with both Republicans and Democrats, who say it punishes the middle class.Health and Scienceread more
Investors should lean on defensive stocks such as the health-care sector as Wall Street starts the year off positive, Charles Schwab chief strategist Liz Ann Sonders told CNBC on Wednesday.
She said the 's 3 percent rally thus far in 2019 is "pretty decent" but said the odds of it being long-term are "relatively slim" due to remaining uncertainties about future Federal Reserve rate hikes. The central bank said the policy path ahead is "less clear" and that it can "afford to be patient " about future increases, according to the minutes from the December meeting released Wednesday.
"Health care, I would say, is kind of a hybrid sector, because it's got those defensive characteristics," Sonders said on "Closing Bell," mentioning high-dividend yield and strong balance sheets.
While the health-care tracking ETF, the XLV, has also risen about 1 percent this year, it is coming off a 3 percent rise in 2018. The S&P, on the other hand, fell more than 6 percent last year.
The firm is still neutral on a number of sectors such as technology, financials, and real estate investment trusts, or REITs, as it determines whether the market is on a long-term upswing, but traders can take advantage of health-care equities now, Sonders said.
"[Health care's] still got that potential growth component, and we think that's the kind of area you want to be focused on right now," she said. "Not purely hunkered down in nothing but defense, but that opportunity to get some upside because of decent growth characteristics."