Global stock markets rallied sharply on Tuesday, buoyed by this week’s efforts by the US Federal Reserve to support the economy and as Congress closed in on an agreement for a fiscal stimulus to alleviate the effects of the coronavirus. The US S&P 500 was up almost 8 per cent per cent at lunchtime in
Month: March 2020
At 8:30 a.m. EST on the first Friday of every month (with a rare exceptions), the U.S. Department of Labor’s Bureau of Labor Statistics (BLS) releases the Employment Situation Summary, otherwise known as the Employment or Jobs Report. Based on the Current Populations Survey, which surveys households, and the Current Employment Statistics Survey, which surveys
Barry Sternlicht Cameron Costa | CNBC Barry Sternlicht, founder of investment firm Starwood Capital, told CNBC on Tuesday he supports President Donald Trump‘s desire to get America working again soon. Trump is ”kind of right” that the U.S. economy can’t remain virtually shut down forever because of the coronavirus crisis, Sternlicht said in a “Squawk Box” interview. ”We
For everyone trying to figure out what S&P 500 earnings will be in 2020, here’s a sobering comment from Joseph Wolk, Johnson & Johnson’s chief financial officer: “One thing I know for certain is we’re going to be 100% precisely wrong.” Wolk made the comment to The Wall Street Journal in reference to earnings guidance,
People look out from aboard the Grand Princess cruise ship, operated by Princess Cruises, as it maintains a holding pattern about 25 miles off the coast of San Francisco, California on March 8, 2020. Josh Edelson | AFP | Getty Images Check out the companies making headlines in midday trading. Norwegian Cruise Line, Royal Caribbean,
H&R Block Mortgage sign Jb Reed | Bloomberg | Getty Images Not even a month ago, thousands of borrowers were rushing to take advantage of record-low mortgage rates. Refinance applications soared over 400% annually, and home buyers were out early and in force. But now some of those loans are stuck in limbo as the
Recent not-for-profit healthcare and higher education disclosure on COVID-19 is providing a more stark picture of the fiscal and operational hardships posed by the intensifying pandemic. A look at a series of recently sold and pending Midwestern deals highlights how disclosure is ramping up in some bond offering documents as borrowers begin to feel the
More than 42% of the US now under ‘stay at home’ orders Peter Wells reports from New York New Mexico has become the latest state to issue a stay at home order, bringing the proportion of the US population under lockdown now and in coming days to more than 40 per cent. The order from
Public health officials are telling Americans to avoid face-to-face contact, including the commute to—and working in—one’s job location, in the hopes of subduing the coronavirus outbreak. As necessary as those steps might be from a medical standpoint, there’s a flipside to huddling up and avoiding the outside world for the foreseeable future: Large swaths of
Learn more about the best Oil ETFs, whether you are bullish or bearish. Original Article:http://www.zacks.com/commentary/70469/which-are-the-best-etfs-to-play-oil VELOCITYSHARES 3X INVERSE CRUDE OIL ETN: http://www.zacks.com/funds/etf/DWTI/profile?cid=CS-YOUTUBE-FT-VID IPATH SP GSCI CRUDE OIL TR INDEX: http://www.zacks.com/funds/etf/OIL/profile?cid=CS-YOUTUBE-FT-VID US Oil Fund: http://www.zacks.com/funds/etf/USO/profile?cid=CS-YOUTUBE-FT-VID SPDR ENERGY SELECT SECTOR SPDR FUND: http://www.zacks.com/funds/etf/XLE/profile?cid=CS-YOUTUBE-FT-VID VANGUARD ENERGY ETF: http://www.zacks.com/funds/etf/VDE/profile?cid=CS-YOUTUBE-FT-VID ISHARES US ENERGY ETF: http://www.zacks.com/funds/etf/IYE/profile?cid=CS-YOUTUBE-FT-VID Follow us on StockTwits: http://stocktwits.com/ZacksResearch
As the Italian death toll from the Covid-19 pandemic reached grim new heights last Sunday, Pope Francis broke strict quarantine rules to visit the church of San Marcello in central Rome. The pontiff went to pray for a miracle before a crucifix which the pious believe helped save the city from plague in 1522. Around
Investors underestimate how an “unprecedented revenue destruction” caused by coronavirus will damage even the biggest, highly rated companies, culminating in a “full-on credit and liquidity crisis”, according to the head of an US investment group. Alan Waxman, the head of Sixth Street Partners, the $34bn-in-assets credit arm of private equity giant TPG, sent a bleak letter
Shares in some life insurance companies have more than halved over the past few weeks as fears grow that the sector faces a double hit from coronavirus. Life insurers are braced for higher payouts in the wake of the outbreak, but the bigger threat to their balance sheets, insurers and analysts say, are plunging markets
Traders have reported a growing global shortage of gold bars, as the coronavirus outbreak both disrupts supply and stokes demand, with one business comparing the frenzied buying of the yellow metal with the consumer rush for toilet roll. Retail investors in Europe and the US have bought up gold and silver bars and coins over
Hedge funds that bet on the completion of pending mergers and acquisitions are nursing heavy losses, as the coronavirus outbreak wreaks havoc in global markets and puts many deals in jeopardy. Data group HFR’s index of merger-arbitrage funds has tumbled 17.5 per cent so far in March, putting it on course for its worst month
The US is bracing for a historic wave of unemployment claims as businesses shed staff in an effort to ride out a pandemic that has caused demand for their products to collapse and cut entire industries off from their customers. In recent days, trade groups have told Washington that 1.7m jobs in retail, 3m-5m restaurant positions and
Mitch McConnell has slammed Democrats’ refusal to back Senate Republicans’ proposals for a nearly $2tn economic stimulus package, in stark comments that call into question assurances from Steven Mnuchin, the US Treasury secretary, that a deal is “very close”. Mr McConnell, the Senate’s top Republican, said on Monday afternoon that Democrats were pushing a “wish
Two weeks ago, traders at TwentyFour Asset Management came into the office after a weekend in which a global oil price war had erupted. The ensuing crash in crude made investors who were in the early stages of fretting about the coronavirus outbreak even more alarmed. The traders hoped to sell a “modest” holding of
Mamta Badkar 3/23/2020, 6:30:13 PM Senate fails to advance stimulus bill for second time Lauren Fedor in Washington Democrats have for the second day in a row stopped a nearly $2tn economic stimulus package from advancing in the Senate, as lawmakers from both parties continue to disagree over how to prop up a US economy
The Federal Reserve has committed to unlimited purchases of US Treasuries and agency mortgage-backed securities and set up additional lending tools to shore up struggling companies and financial markets. The new moves, announced on Monday, add monetary firepower to America’s efforts to support its economy through the coronavirus pandemic. “The Federal Reserve is committed to
Pedestrians walk past an american multinational investment bank and financial services holding company JPMorgan Chase Bank branch. Alex Tsai | SOPA Images | Getty Images JPMorgan Chase said it was giving bank tellers and other “front-line employees” a one-time bonus of up to $1,000 to help cushion the difficulties of working during the coronavirus pandemic.
CNBC’s Jim Cramer said Friday he fears that the coronavirus-driven halt in the economy could leave the U.S. with only three retailers after the crisis ends. “If we come out of this sooner, then other, small businesses can open. If we come out of this later, there are going to be three retailers in this country,”
M. Llorden | Getty Images Companies holding low-rated debt are in for a brutal stretch as the economy heads into a coronavirus-induced recession, according to a forecast Friday. S&P Global Ratings said the default rate for high-yield, or junk, bonds is heading to 10% over the next 12 months, more than triple the rate of
A Bank of America financial manager shows a customer how to use the ATM with Teller Assist station in Cherry Creek. Andy Cross | Denver Post | Getty Images Bank of America said it was boosting pay for bank tellers and reducing daily work shifts by at least two hours amid the widening coronavirus epidemic.
A trader reacts during the opening bell at the New York Stock Exchange (NYSE) on February 28, 2020 at Wall Street in New York City. Photo by Johannes Eisele | AFP | Getty Images We are all exhausted and depressed, having experienced this week one of the worst stock market declines in modern history. I
The adage “keep calm and carry on” might, in the end, be the best advice for investors to follow during times of extreme market volatility such as the present. While it might seem counterintuitive to sit back and relax while stocks post swift and steep losses, for investors with longer-term time frames it typically pays
A man cleans up on the trading floor, following traders testing positive for Coronavirus disease (COVID-19), at the New York Stock Exchange (NYSE) in New York, U.S., March 19, 2020. Lucas Jackson | Reuters The crash that no one called has investors calling back to earlier cataclysms, grasping for historical threads that can serve as
Twenty-two days. That’s all it took for the S&P 500 to fall 30% from its record high, the fastest drop of this magnitude in history. The second, third and fourth quickest 30% pullbacks all occurred during the Great Depression era in 1934, 1931 and 1929, respectively, according to data from Bank of America Securities. “This
President Donald Trump has long pointed to the stock market’s success under his administration as a tangible endorsement of his economic policies and had often boasted about the Dow Jones Industrial Average’s gains since his election. That was, of course, before investors knew about the new coronavirus. With COVID-19 and measures to contain its spread
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 2, 2020. Brendan McDermid | Reuters The crazy market volatility has put unprecedented stress on the U.S. and global trading system. Friday saw the largest dollar volume trading for U.S. equities in history: $984 billion changed hands, according
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