Stocks suffered another volatile session on Wednesday as Janet Yellen wrapped up her final policy meeting as Federal Reserve chairman.
While the policy rate was left unchanged, as expected, the contents of the post-meeting statement were surprisingly hawkish — all but confirming an aggressive pace of rate hikes this year as inflation threatens to rise on a combination of a tight job market and the consequences of the weaker dollar (higher import and energy prices).
Equities initially shrugged this off, however, until former Fed chairman Alan Greenspan took to the airwaves on CNBC and said there were bubbles in both the bond and stock markets. This resulted in an drop in large-caps into negative territory before an end-of-day bid saved the bulls from a third consecutive day of losses.
In the end, the Dow Jones Industrial Average gained 0.3%, the S&P 500 gained 0.1% after trading up as much as 0.5% earlier in the session, the Nasdaq Composite gained 0.1% and the Russell 2000 lost 0.5%. Treasury bonds finished mixed in a volatile session. Gold gained a touch. Crude oil was weak on inventory and production concerns. And the dollar was mixed.
Best Energy Stocks To Own Right Now: iShares MSCI EAFE (EFA)
- [By Todd Shriber, ETF Professor]
HEFA debuted in early 2014 as the currency hedged alternative to traditional MSCI EAFE strategies. HEFA is essentially the MSCI EAFE ETF (NYSE: EFA) with a currency hedged kicker. EFA, one of the largest developed market ETFs, is HEFA lone equity holding. HEFA has amassed $3.61 billion in assets since coming to market.
- [By Stephan Byrd]
SimpliFi Inc. lifted its position in iShares MSCI EAFE ETF (NYSEARCA:EFA) by 0.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,749 shares of the exchange traded fund’s stock after purchasing an additional 967 shares during the quarter. iShares MSCI EAFE ETF accounts for about 9.0% of SimpliFi Inc.’s holdings, making the stock its 6th largest holding. SimpliFi Inc.’s holdings in iShares MSCI EAFE ETF were worth $10,922,000 at the end of the most recent reporting period.
- [By Ethan Ryder]
Stifel Financial Corp boosted its holdings in iShares MSCI EAFE ETF (NYSEARCA:EFA) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,450,778 shares of the exchange traded fund’s stock after acquiring an additional 18,547 shares during the quarter. Stifel Financial Corp’s holdings in iShares MSCI EAFE ETF were worth $101,064,000 at the end of the most recent quarter.
- [By Stephan Byrd]
Thrivent Financial for Lutherans reduced its position in shares of iShares MSCI EAFE ETF (NYSEARCA:EFA) by 79.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,152 shares of the exchange traded fund’s stock after selling 133,919 shares during the quarter. Thrivent Financial for Lutherans’ holdings in iShares MSCI EAFE ETF were worth $2,380,000 as of its most recent SEC filing.
Best Energy Stocks To Own Right Now: Eros International PLC(EROS)
- [By Motley Fool Staff]
Eros International (NYSE:EROS) Q4 2018 Earnings Conference CallJun. 27, 2018 8:30 a.m. ET
Prepared Remarks Questions and Answers Call Participants
- [By Harsh Chauhan]
And the company finally seems to be getting its act together in India; it was earlier criticized for offering a very shallow content library at premium prices when compared to rivals. But cracking the Indian market will be easier said than done for Netflix, as one of India’s biggest production houses — Eros International (NYSE:EROS) — has now decided to join the video-streaming party.
- [By Garrett Baldwin]
The secret to becoming a millionaire, of course, is getting out in front of a major investment trend before it becomes mainstream. In 2017, it was Bitcoin and cryptocurrencies. But this year, it’s a taboo investment that is creating millionaires all across North America. Tap into the “green rush,” and prepare to become a “Marijuana millionaire.” Learn how to get started right here.
The Top Stock Market Stories for Wednesday
U.S. President Donald Trump is facing criticism after threatening to ramp up taxes on Harley-Davidson Inc. (NYSE: HOG). The iconic motorcycle producer said it will move parts of its production overseas in order to avoid tariffs from the European Union. Trump threatened to increase taxes on the firm. “Surprised that Harley-Davidson, of all companies, would be the first to wave the White Flag,” Trump tweeted Tuesday. “I fought hard for them and ultimately they will not pay tariffs selling into the E.U., which has hurt us badly on trade, down $151 Billion. Taxes just a Harley excuse – be patient!” Earlier this month,Microsoft Corp.(Nasdaq:MSFT) launched a $7.5 billion takeover of the web-based hosting service GitHub. The acquisition, orchestrated by Microsoft CEO Satya Nadella, brought out critics who claim that GitHub lacks any real profit potential forMicrosoft stock. Here’s why those critics are wrong… and why MSFT is a buy. Facebook Inc. (Nasdaq: FB) has reversed its policy on cryptocurrency ads. The social media giant says that it will permit marketing from “pre-approved advisers.” According to TechCrunch, the company will still ban ads pushing binary options and initial coin offerings. The report goes on to explain that cryptocurrency scams cost customers more than $500 million in just January and February 2018 alone.
Four Stocks to Watch Today: ORCL, FB, GOOGL, BA
Oracle Corp. (NYSE: ORCL) were largely flat despite a strong earnings report after the bell yesterday. The cloud computing giant reported EPS of $0.99
- [By Ethan Ryder]
Eros International plc (NYSE:EROS)’s share price was up 6.8% during mid-day trading on Wednesday . The company traded as high as $14.50 and last traded at $14.10. Approximately 936,285 shares changed hands during mid-day trading, an increase of 135% from the average daily volume of 397,949 shares. The stock had previously closed at $13.20.
Best Energy Stocks To Own Right Now: MFS Charter Income Trust(MCR)
- [By Stephan Byrd]
Macro (CURRENCY:MCR) traded flat against the U.S. dollar during the 24 hour period ending at 20:00 PM E.T. on May 30th. During the last seven days, Macro has traded down 6% against the U.S. dollar. Macro has a total market cap of $0.00 and approximately $0.00 worth of Macro was traded on exchanges in the last day. One Macro token can now be bought for about $0.17 or 0.00002339 BTC on popular cryptocurrency exchanges.