Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
For investors struggling to find opportunities after a stellar rebound in the aging bull market, value stocks might be the best bet.
Case in point: Cheaply priced stocks are getting cheaper as expensive stocks have gotten extremely pricey, pushing the valuation gap to the widest in 70 years, according to AB Bernstein. The record dispersion puts cheap equities in a sweet spot as other pockets of the market start losing the appeal because of their high prices.
"Value tends to outperform when dispersion in valuations across the market is at its widest," said Bernstein's Inigo Fraser-Jenkins in a note on Wednesday. "Valuation spreads are incredibly wide and sentiment may have found a floor. This provides a support for value within the market contrasted with traditional asset classes which are mostly fully valued."
The stock market has staged a strong comeback, with the notching the best two-month start to a year since 1991, but value stocks seemed to have missed the rally. According to Bernstein, the composite value stocks lost 1.04 percent year-to-date, versus the S&P 500's more than 11 percent gain. Many have argued that the market rebound is not fundamentally driven, as earnings and growth expectations have come down.
"Value as a style tends to perform better than average when there have been extreme troughs in the earnings revisions balance series particularly 6 to 12 months following the point of most aggressive downgrades," Fraser-Jenkins said.
Wall Street analysts have been aggressive when it comes to slashing their earnings expectations. The estimates for the S&P 500's first quarter earnings have dropped 6.5 percent in the first two months of 2019 alone, the largest cut since the first quarter in 2016, according to FactSet. Analysts are projecting an earnings loss of 3.2 percent in the first quarter and a gain of 4.1 percent for 2019.
Bernstein said investors could buy cheap individual stocks in different sectors, or they could buy stocks that are "cheap per unit fundamentals," their so-called "residual value factor."