The ISM index is calculated such that readings above 50 represent expansion, and readings below 50 represent contraction. Trade balanceThe Commerce Department will release the trade deficit numbers for November, and economists polled by Dow Jones expect the deficit to be $43.6 billion. The trade deficit was $42.7 billion in October, the latest month available. The deficit with China made up most of the total, coming in at $27.8 billion. The trade deficit with China was a major talking point for

Stocks rally after Fed cutsLooking ahead, Wien said that in 2020 a recession will be avoided, but that economic growth will fall short of estimates. This is a widely followed metric on the Street, since recessions are typically preceded by a steepening of the yield curve. According to CNBC’s “Market Strategist Survey,” the average 2020 year-end S&P target is 3,330. Tech will underperformTechnology led all sectors in 2019 after returning 48% — its best year in a decade — but Wien envisions 2020 s

Maintenance workers cover the engine of an American Airlines Group Boeing 737 Max plane at Tulsa International Airport (TUL) in Tulsa, Oklahoma, May 14, 2019. Microchip Technology — Shares of Microchip rose over 4% after releasing updated guidance that put projected sales near the top of its previous range. Texas Instruments — Shares of the semiconductor company rose about 2% in extended trading after fellow chipmaker Microchip released updated guidance and express confidence about the industry

In 2017, a man claiming to be a member of the ultra-wealthy Saudi royal family, named Prince Khalid Bin Al-Saud, entered into talks with real estate developers to make a $400 million investment in an iconic luxury hotel on Miami Beach. In fact, Gignac told investors they could make “five times” their initial investments once the company went public. At the time, authorities said Gignac had told store employees that he was a Saudi prince worth nearly half a billion dollars. Gignac told authoritie

Tauseef Mustafa | AFP | BloombergIranian hackers are likely planning social engineering and phishing efforts as retaliation for the U.S. military’s killing of Iranian military chief Qasem Soleimani, according to security experts in government and the private sector. But the flurry of website defacements and social media rancor over the weekend are unlikely to be important, and might not have originated from Iran at all. Russia has also assisted Iran in hacking efforts, and used the country as a

The Pentagon on Monday said that a U.S. general’s letter informing Iraq’s Defense Ministry that U.S.-led coalition troops would leave Iraq “was a mistake,” and American Defense officials insisted that the troops would remain there. Secretary of Defense Mark Esper told reporters earlier, “We are repositioning forces throughout the region, No. “Beyond that with regard to the letter, which I’ve read once, I can’t tell you the veracity of that letter,” Esper said. The letter to Iraq’s Defense Minist

Boeing and Southwest Airlines ⁠— the largest U.S. operator of the 737 Max ⁠— disclosed they had reached an agreement last month. He added that the airlines some 4,000 Boeing 737 pilots can’t simply start flying an Airbus plane. American in October forecast the Max grounding would cost it $540 million in pretax income in 2019. Regulators worldwide grounded the jets after an Ethiopian Airlines 737 Max crashed less than five months after a nearly new 737 Max in Indonesia went down, killing all 346

Pier 1 Imports on Monday said it intends to close up to 450 locations, or almost half its fleet of 942 stores, as it unexpectedly reported quarterly earnings amid bankruptcy rumors. “Fiscal third quarter sales and margins remained under pressure,” CEO Robert Riesbeck said in a statement. Pier 1 had already been on many analysts’ bankruptcy watch lists, with its weakening financial situation and large debt load. Before joining Pier 1, Riesbeck was CFO at FullBeauty Brands, in addition to serving

lovelyday12 | GettySocial Security benefits are helping to narrow the gap between the haves and have-nots who are approaching retirement. At ages 51 to 56, median Social Security wealth amounts to $81,900, compared to the $67,000 workers have accumulated in their employer-sponsored retirement plans. In dollar terms, adding Social Security benefits brings low-wage earners’ median wealth from zero to $57,000. That makes it important to protect existing Social Security benefits, according to Ghilar

New National Security Adviser John Bolton listens as U.S. President Donald Trump holds a cabinet meeting at the White House in Washington, April 9, 2018. Former national security advisor John Bolton said in a statement Monday that he is willing to testify in President Donald Trump’s impeachment trial if he is subpoenaed by the Senate. Democrats are grappling with Senate Majority Leader Mitch McConnell, R-Ky., over the rules for Trump’s eventual Senate trial, which will determine whether he is co

Domestic light-duty vehicle sales totaled almost 17.1 million vehicles last year, a 1.6% decline compared with 2018, according to automotive research and forecast firm Edmunds. New vehicle sales for 2019 were originally forecast to fall to between 16.7 million to 16.9 million, but they are in line with revised estimates after sales proved to be stronger than anticipated last year. For 2020, auto analysts see U.S. sales of roughly 16.7 million to 17.1 million vehicles. “I don’t see any of the maj

The Dallas Cowboys didn’t take long to settle on Mike McCarthy as their coach after waiting a week to announce they were moving on from Jason Garrett. McCarthy, who won a Super Bowl at the home of the Cowboys nine years ago as Green Bay’s coach, has agreed to become the ninth coach in team history, a person with direct knowledge of the deal said Monday. Green Bay made nine trips to the playoffs in his 13 years under McCarthy. McCarthy led the Packers to at least 10 wins in eight of his first 11

Getty ImagesSome of the most beaten-down names in retail might end up being your best bets in 2020. Bed Bath & BeyondBed Bath & Beyond went through a rocky 2019. “[Tritton] has a lot of runway if he wants to fix Bed Bath.” Bed Bath & Beyond shares are up about 40% over the past 12 months, trading around $16.70. Michael’s shares are down about 45% over the past 12 months.

WASHINGTON — Eric Chewning, chief of staff to Defense Secretary Mark Esper, is stepping down at the end of the month, the latest in a series of high-profile Pentagon departures. “I’m grateful for Eric’s professionalism, judgment, and leadership over the last seven months as I moved into the Secretary of Defense role,” said Secretary Esper in a statement. “I have known Jen for years and I’m excited to bring her into the Department,” Esper wrote. “Her deep expertise on national security issues wil

Wendy’s focus in 2020 is launching breakfast nationwide after decades of trying and failing. The day after Wendy’s announced its breakfast plans in September 2019, its stock plummeted 10%. The fast-food chain has made three attempts over its history to serve breakfast nationwide, starting in the 1980s. Wendy’s franchisees will also not have to foot the bill for equipment expenses, which previously could cost as much as $10,000. Wendy’s plans to spread the news of its expansion into breakfast wit

But, as uncertainty rises, one trader sees a chance to pick up some deals. Chad Morganlander, portfolio manager at Washington Crossing Advisors, is getting more defensive this year on the expectation of weaker growth. “For 2020, [investors] have lofty expectations for S&P earnings and revenue growth. Companies that are consistently grown, consistently profitable and don’t have a lot of debt on their balance sheet. That’s the critical thing here is to buy value or quality companies in 2020,” said

Netflix announced that the six-episode series on Gwyneth Paltrow’s luxury lifestyle brand Goop will be released later this month. The announcement came with what some are calling a “terrifying” first trailer and poster. The show also promises to focus on sexual health, as suggested by its promotional poster poster which shows Paltrow standing in the middle of what appears to be a vagina. Goop has been criticized for its dubious wellness claims, including its advertisement that jade and quartz “e

Abortionrights activist gathered outside the U.S. Supreme Court to protest against the recent abortion laws passed across the country in recent weeks. Experts, citing these factors, expect the new year to continue to be challenging for abortion rights. Most of the Democratic candidates indicated they support the repeal of the Hyde Amendment, but haven’t specified whether they’d sign a budget that included the Hyde Amendment. Lawmakers since it was passed in 1977 have voted for the Hyde Amendment

Yum Brands’ $375 million acquisition of Habit Restaurants gives the owner of Taco Bell, KFC and Pizza Hut an opportunity to break into the fast-casual industry at a time when fast-food restaurants are struggling. Habit operates Habit Burger Grill, a premium burger chain founded in 1969 with nearly 280 locations, including several in China. While the overall fast-casual industry has seen its traffic growth slow in recent years, it is still outpacing that of fast-food restaurants. Visits to U.S. f

Harvey Weinstein arrives using a walker at the Manhattan Criminal Court, on January 6, 2020 in New York City. Prosecutors in Los Angeles on Monday charged disgraced movie mogul Harvey Weinstein with raping one woman and sexually assaulting a second woman in separate attacks over a two-day period in 2013. The Los Angeles prosecution and the New York trial come more than two years after allegations of serial sexual misdeeds by Weinstein sparked the #MeToo movement. Monday’s brief proceedings dealt