The crazy week of trading came to a close with the three major indexes posting gains for the week, their fourth straight week of such success.
We talked a lot this week about the repatriation of cash and the $1,000 bonuses much of the corporate has decided to hand out to its employees. A nice gesture, I suppose, but not something that is going to boost employee productivity or consumer spending.
Unlike other large companies, Honeywell International Inc. (HON - Get Report) said on Friday that it will be repatriating $7 billion to $10 billion of cash over the next two years, providing the dry powder to "aggressively" seek out deal opportunities in the year ahead.
The Morris Plains, N.J.-based company reported strong fourth-quarter financial results, beating both earnings and revenue estimates, and raised its profit forecast for 2018.
According to TheStreet's sister publication The Deal, the newly found cash windfall may put New York-based Arconic Inc. (ARNC - Get Report) , which engineers products for the aerospace and automotive industries, and Atlanta-based supply chain solutions company Manhattan Associates (MANH - Get Report) in the crosshairs of the industrial giant.
From corporate dollars to the actual value of the U.S. dollar we go as Donald Trump spoke at the World Economic Forum in Davos, Switzerland on Friday.
The greenback has been bouncing around following comments by both Treasury Secretary Steve Mnuchin and President Trump. A slight rally yesterday lost strength overnight and that is helping to keep the indices propped up on Friday.
So with stocks rising, bond yields dropping after steady uptick to start the year and the dollar in flux-Mnuchin has stated his desire to see a weaker dollar, while Trump talked it up-investors may be wondering just what to do. TheStreet and its premium site Real Money help walk you through the top Forex trades and how to play falling bond yields and the ebbs and flows of the dollar under the Trump administration.
One thing I will say that I've seen a lot of from the experts: stock picking remains king if you can make your bets and diversify your portfolio in a healthy way.
Jim Cramer and the AAP team hold positions in Honeywell and Arconic for their Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells HON or ARNC? Learn more now.
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Photo of the day: Steve Wynn and Bill Cosby
Shares of Wynn Resorts Ltd. (WYNN - Get Report) were down 10% Friday after a report detailed dozens of women who described a pattern of sexual abuse perpetrated by Steve Wynn, the man behind the casino empire. The Wall Street Journal reported that they spoke to women who described what amounts to a decades-long pattern of sexual misconduct that includes forcing a manicurist at one of his hotels into having sex with him against her will in 2005. The allegations put Wynn in company with many businessmen and leaders who have been accused of sexual assault. Above Wynn is pictured alongside Bill Cosby at 25th anniversary party for the Le Cirque and Osteria del Circo restaurants in 1998. Bill Cosby's rape case ended in a mistrial and Wynn has denied any wrongdoing. It will be interesting to see if Wynn and his company are able to come back from PR nightmare that emerged on Friday. According to Morgan Stanley, Wynn's company should rebound, though the same assurance can't be given to his public image. Cosby's certainly hasn't. Read More
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