Prime Minister Theresa May will file formal Brexit divorce papers on Wednesday, pitching the United Kingdom into the unknown and triggering years of uncertain negotiations that will test the endurance of the European Union. A firmer dollar capped gains, as it pulled off 4-1/2 month lows, analysts and traders said. Strength in the U.S. currency makes dollar-denominated gold more expensive for holders of other currencies, potentially decreasing demand. Independent technical analyst Cliff Green sai

Oil prices rose about 2 percent on Wednesday as U.S. crude inventories rose less than expected, supply disruptions continued in Libya and the OPEC-led output cut by producing countries looked likely to be extended. U.S. crude futures surged to nearly a two-week high after the Energy Information Administration (EIA) reported that crude inventories rose 867,000 barrels last week, nearly half the build expected, as refineries ramped up processing after seasonal maintenance and imports dropped and e

On Wednesday, the Australian army and emergency workers headed to areas in Queensland state that were hit by Cyclone Debbie. Earlier, official data showed that retail sales retail sales grew just 0.1 percent in February year-on-year, much less compared to January’s growth of 1 percent. In South Korea, the Kospi index closed 0.17 percent or 3.7 points at 2,166.98. It is expected to launch Galaxy S8 smartphone in New York later in the day, and in South Korea tomorrow. The Shanghai composite closed

“I think the stock market fits that definition” of a bubble, Pomboy told CNBC’s Mike Santoli in an interview. “As an economist I look at stock market valuation by taking total stock market cap relative to GDP and we’re right back where we were in 2000 at the peak … I struggle with the idea that the stock market has a lot of upside room barring some spontaneous acceleration in growth, which sort of strikes me as unlikely.” Investors should buy gold and Treasurys in order to ride out the coming

On his General Motors plan: “Some investors just want … the dividend. … If you actually implemented this plan, which we expect that they will, you’re going to unlock a tremendous amount of value.” On trading President Donald Trump’s agenda: “You’re going to have a lot of jobs. You’re going to have higher wages because you’re going to have maybe a labor shortage. “If you have high levels of personal income, I think you’re going to wind up with high levels of demand for new cars.

Apple’s latest update of iOS includes a new feature called “Find My AirPods.” It’s similar to Find My iPhone or Find My iPad in that it allows you to locate a lost gadget. There’s one big limitation you should know about, though — it only works so long as the AirPods are within Bluetooth range, which means you won’t be able to find them if you’ve left them far away, like at the office or on an airplane.

Microsoft announced on Monday that the Windows 10 Creator’s Update, announced earlier this year, will officially be available to download on April 11. This is Microsoft’s latest attempt to go for Apple’s throat and attack the core Mac user base of creative professionals — as is made clear right in the name “Creator’s.” But while Microsoft is including a few compelling features, the update isn’t going to send Mac fans running to Best Buy for a new laptop just yet. There’s a new function named “P

Columbia University alumnus Hongli Lan will have no choice but to leave the United States if he loses the H-1B visa lottery again this year. Citizenship and Immigration Services (USCIS) notified him of the H-1B lottery rejection. “Chances of winning the lottery are too low for Chinese students and I don’t see how the current system benefits high-skilled workers.” The H-1B non-immigrant visa program is meant for specialized workers attached to local employers who say they cannot find enough Ameri

Shares of Red Hat climbed more than 6 percent at one point on Tuesday, following a strong earnings report Monday for the quarter ended Feb. 28, which was the fourth quarter of its 2017 fiscal year. Red Hat also surpassed its 30-day average trading volume of 1.83 million shares on Tuesday — with more than 1.89 million shares changing hands before noon. It crossed $2 billion in annual subscription revenue for the first time this fiscal year. As of Monday’s close, shares of Red Hat were up more tha

Several employees at Uber, including CEO Travis Kalanick, visited a karaoke bar known for offering escort services on a trip to Seoul, South Korea, three years ago, according a report in The Information. The incident was told to The Information by Gabi Holzwarth, Kalanick’s former girlfriend, who was also at the bar. Holzwarth says she left with Kalanick after about an hour, according to The Information report. A spokeswoman for Uber told The Information: “This all happened nearly three years ag

When stocks have gone through a pullback during this bull market, JPMorgan is often the punching bag, history shows. Using hedge fund analytics tool Kensho, we looked back at what happened to Dow Jones industrial average members when it dropped 100, 200 or 300 points in a single day since March 2009 when the bull market began. Here are the two worst and best performers, on average, when the Dow dropped 100 to 200 points:

A daily morning look at the financial stories you need to know to start the day. STOCKS/ECONOMY-Stock futures are solidly lower as the markets react to the failed GOP health insurance bill in Congress. Bond prices are higher as a result of the stock slide, with the yield on the 10-year treasury back down to 2.36 percent. TRUMP’S FIRST 100 DAYS-President Donald Trump is choosing son-in-law Jared Kushner to head up aspecial team to eliminate federal bureaucracy. The team will get help from top CEO

Investors should buy Apple shares predicting the next iPhone’s sales will significantly beat expectations, according to JPMorgan, which reiterated its overweight rating. “We are adding Apple to the AFL [analyst focus list] and materially raising our forecasts due to what we believe is high pent-up replacement demand heading into the 10th anniversary iPhone cycle this year,” analyst Rod Hall wrote in a note to clients Sunday. “Multiple iPhone ‘Pro’ features including 3D facial scanning, a glass h

“The S&P 500 fell … this week as investors came to terms with greater policy uncertainty. The strategist forecasts the S&P 500 will trade at 2,300 at the end of 2017, representing a 2 percent decline from Friday’s close. Kostin noted how the current House Republican tax reform plan proposes a corporate tax rate reduction to 20 percent from 35 percent. He estimates every 5 percentage point reduction of the effective tax rate will lift S&P 500 earnings by 6 points. However, the firm’s economists

Piper Jaffray raised its rating for Best Buy shares to overweight from neutral, saying the company’s earnings results will come in above expectations in the coming year. Best Buy’s “competition fading will be a benefit to [sales] comps. We believe hhgregg (near-term) and Sears (long-term) issues present sales opportunities for BBY,” analyst Peter Keith wrote in a note to clients Sunday. Sears Holdings shares are down by nearly 40 percent in the past year as investors grow concerned over the futu

RBC Capital Markets initiated coverage on Snap shares with an outperform rating, predicting sales to double each year for the next three years. Snap shares are up roughly 40 percent from its early March $17 IPO offering price through midday Monday. But the stock is off 19 percent from its high price of $29.44, which occurred during its second day of trading. The analyst’s Snap price target is $31, representing 36 percent upside from Friday’s close. He has the highest price target on the company,

Many tax refund recipients are putting that money to work. About a third of taxpayers getting a refund expect to save or invest the money, while nearly three in 10 will pay down debt, according to Bankrate.com. Here’s the bad news: If the IRS sends you a huge check this spring, it means you’ve likely overpaid on taxes throughout the year. “A large refund from the IRS may seem like an advantage, but it isn’t the best or most effective use of your cash flow,” said Tim Steffen, director of financia

That’s because, according to Sluymer, they’ve been falling for three months already. “I think the really key point here is that most stocks have been correcting since the middle of December. Sluymer sees the market pulling back to its 100-day moving average, around the 2,275 mark. And when it comes to the “worst-case scenario,” he sees more downside, around the 200-day moving average (implying more than 5 percent of downside from current levels). What’s more is the so-called “reflation trade” ma

Morgan Stanley’s Adam Jonas shared his views on Tesla in an interview Monday on CNBC’s “Power Lunch.” Then “launching a transportation as a service.” On what’s next for electric cars: “Well, we think the electric cars for private use really are … for human driving pleasure for wealthier individuals,” he said. Jonas is the head of global auto research at Morgan Stanley. To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.

Apple advises against using liquids or disinfectants on its devices, so keep that in mind, but the fact is you’re not going to get rid of bacteria without something more powerful than a soft cloth. Lysol or Clorox disinfectant wipes work well — I’ve been using them on my gadgets for years without issue — and will kill 99.9 percent of viruses and bacteria. Lysol even advertises that the wipes are “Safe to use on electronics including Smartphones, Tablets and Remote Controls.” Keep a tube at your