Larry Culp, CEO, General Electric Scott Mlyn | CNBC Here are the biggest calls on Wall Street on Monday: UBS downgraded GE to ‘neutral’ from ‘buy’ UBS downgraded the stock citing valuation, a decline in interest rates, and ongoing power market weakness. “We are downgrading GE to Neutral, as a notable decline in interest rates and
Investing
Treasury Secretary Steven Mnuchin Jonathan Ernst | Reuters Treasury Secretary Steven Mnuchin has concerns about Facebook’s cryptocurrency and its potential illicit use. In a press conference Monday, he Facebook’s proposed digital currency, Libra, “could be misused by money launderers and terrorist financiers” and that it was a “national security issue.” The press conference comes days
Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters With a potentially negative earnings season looming, investors see easy Fed policy as the security blanket the stock market needs as it breaks to new highs. The thinking is that there is a ‘Fed put’ on the stock market, meaning
Christian Sewing, chief executive officer of Deutsche Bank AG, pauses as Germanys biggest bank announces full year earnings in Frankfurt, Germany, on Friday. Feb. 1, 2019. Deutsche Banks revenue contracted for an eighth straight quarter in the final months of last year, complicating Chief Executive Officer Christian Sewings plan to turn around the lender through
James Gorman, Morgan Stanley Adam Galica | CNBC Citi upgraded Morgan Stanley to buy on Friday and said if the Fed cuts rates as expected, that it will “spur capital markets activity.” The firm also said it expects two rate cuts in 2019 and 2020 and raised its target price on the investment bank to