Money manager Kevin Nicholson believes downside is limited for the S&P 500 through next month. Nicholson, who’s co-chief investment officer of global fixed income at RiverFront Investment Group, blames the market’s “tug-of-war” with Covid-19 news. “When we announce new vaccines, the market tends to rally,” Nicholson told CNBC’s “Trading Nation” on Wednesday. “However, the market
Finance
Google Pay Source: Google Google is moving deeper into consumer finance. The tech giant will let users open bank accounts, pay friends and manage budgets through a new version of its Google Pay app rolling out Wednesday. The Mountain View, California-based company partnered with Citi and Stanford Federal Credit Union to launch the mobile bank
Liu Qiang, Vice President of Fosun Technology and Financial Group, Deputy Chairman of Hani Securities, speaks with Arjun Kharpal, Senior Correspondent of CNBC, during Day 1 of CNBC East Tech West at LN Garden Hotel Nansha Guangzhou on November 17, 2020 in Nansha, Guangzhou, China. Zhong Zhi | Getty Images Entertainment | Getty Images Ant
China’s push to internationalize the yuan will be driven by two things — incoming funds into the country and a relaxation of rules that restrict the Chinese currency from moving abroad, said the chief executive of BNP Paribas China. The yuan is unlike other major currencies such as the U.S. dollar or the Japanese yen,
CEO of Tesla Motors Elon Musk reacts following the company’s initial public offering at the NASDAQ market in New York June 29, 2010 Brendan McDermid | Reuters Check out the companies making headlines in midday trading. Tesla — Tesla shares rallied nearly 10% after S&P Dow Jones Indices said it would add the electric car
An empty street in Amsterdam during the government-imposed lockdown due to the coronavirus pandemic. SOPA Images | LightRocket | Getty Images The fallout from the coronavirus pandemic on Europe’s financial institutions will become more apparent in the coming months, according to a senior European banking official, and there could be one or two casualties in
Aerial view of Alibaba Shanghai R&D Center, ZJ Science City, IBM and Microsoft at AIsland on August 6, 2020 in Shanghai, China. Shen Chunchen | Visual China Group | Getty Images BEIJING — For some American businesses, having an office in China may help them weather the impact of the coronavirus pandemic. According to S&P
Check out the companies making headlines midday on Monday: Moderna — The drugmaker’s stock soared more than 7% after announcing preliminary phase three trial data shows its coronavirus vaccine is more than 94% effective in preventing Covid-19. Moderna is the second U.S. company in a week to report positive results from its coronavirus trial. Simon
An ATM is shown at company headquarters for the PNC Financial Services at One PNC Plaza in Pittsburgh, Pennsylvania. Getty Images Spanish financial group BBVA has agreed to sell its U.S. business, BBVA USA Bancshares, to PNC Financial Services Group for $11.6 billion, the American firm announced Monday. Headquartered in Houston, Texas, BBVA USA Bancshares has $104
Traders work on the floor of the New York Stock Exchange. Source: NYSE U.S. stock futures rose on Sunday night as traders assessed a sharp market rotation that led to a mixed weekly performance last week. The S&P 500 posted a record closing high on Friday and notched a one-week gain of 2.2%. The Dow
[The stream is slated to start at 11:45 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell is participating Thursday in a policy panel before a European Central Bank Forum on central banking. The appearance will feature a question-and-answer session with the
Federal Reserve Chairman Jerome Powell said Thursday he worries about women, children and business owners who face long-term consequences from the coronavirus pandemic. Asked to name his chief concerns as the world tries to recover from the Covid-19 crisis, Powell said it’s “the risk that there is some longer-run damage to the productive capacity of
Judy Shelton appears now to have enough Republican support for her controversial nomination to the Federal Reserve’s board of governors to get through. Senate Majority Leader Mitch McConnell said Thursday he will advance Shelton’s name to the Senate floor after Sen. Lisa Murkowski (R-Alaska) told reporters she now will support the economic advisor to President
Goldman Sachs just named its smallest and most diverse class of partners since its 1999 initial public offering. The firm on Thursday named 60 employees to the coveted rank of partner, the highest title at the New York-based bank and a nod to its history as a private partnership. Since taking over in 2018, CEO
Check out the companies making headlines before the bell: DraftKings (DKNG) – The mobile betting service reported a quarterly loss of 57 cents per share, smaller than the 61-cent loss that Wall Street had anticipated, while revenue was above analyst forecasts. DraftKings said it was helped by the resumption of activity by major sports leagues
John Stumpf, chief executive officer of Wells Fargo & Co., waits to begin a House Financial Services Committee hearing in Washington, D.C., U.S., on Thursday, Sept. 29, 2016. Andrew Harrer | Bloomberg | Getty Images Ex-Wells Fargo CEO John Stumpf and his former deputy Carrie Tolstedt were charged by the Securities and Exchange Commission Thursday
Chuck Robbins, CEO, Cisco Systems, speaking at the World Economic Forum, Davos, Switzerland, January 21, 2020. Check out the companies making headlines after hours on Thursday: Cisco Systems — Cisco shares rallied nearly 9% in after-hours trading on the back of better-than-expected results for its fiscal first quarter. The company reported earnings per share of
Traders work the floor of the New York Stock Exchange. NYSE U.S. stock futures rose on Thursday night as Wall Street continues to grapple with the rising number of coronavirus cases and its potential economic impact. Earlier on Thursday, the Dow dropped more than 300 points during the regular session, notching its second straight daily
It may be quite a while before an effective coronavirus vaccine is globally distributed, but forward-looking global equity markets are already partying like it’s here. The total value of stock markets around the world reached an all-time high of $95 trillion through Wednesday, bouncing all the way back from its March bottom in the depth
Check out the companies making headlines before the bell: Alibaba (BABA) – Alibaba shares are under pressure, amid concerns about tighter regulation of big tech firms by the Chinese government. The decline in Alibaba shares comes despite an upbeat start to the e-commerce giant’s annual “Singles Day” event, with more than $56 billion in orders