Federated Hermes’ Phil Orlando’s bull case for stocks may be on shaky ground. The firm’s chief equity market strategist reveals there are two market risks keeping him up at night. His first concern surrounds the presidential election and whether Democrats will get control of both the White House and Congress. “What might fiscal policy regime
Finance
A stock trader wearing a mask walks near social distancing signs the day a new IPO is launched at the New York Stock Exchange as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on August 27, 2020 in New York City. The fourth phase allows outdoor arts
Nikola Motor Company Badger pickup truck Source: Nikola Motor Company Nikola shares surged on Thursday, one day after the company said its production timeline and factory plans remain on track amid widespread investor anxiety regarding the company’s business as well as its planned deal with General Motors. The stock soared by as much as 31%
Stock futures fell in early morning trading on Friday after President Donald Trump said he tested positive for the coronavirus. Futures tied to the Dow Jones Industrial Average dropped 266 points after earlier plunging more than 500 points. S&P 500 futures and Nasdaq 100 futures were also in negative territory. Meanwhile, the yield on the benchmark
Check out the companies making headlines in midday trading. Twilio — shares of the cloud services company jumped 12% to a new all-time high after Twilio raised its forecast for third quarter revenue. The company said it is benefitting from the rise of remote work and education. Twilio is set to release its quarterly results
Take a look at some of the biggest movers in the premarket: Walmart (WMT) – The retailer announced the sale of its British supermarket chain Asda for $8.8 billion. The buying group consists of private equity firm TDR Capital and the Issa brothers, founders of gasoline station chain EG Group. Uber Technologies (UBER) – Private
Layoffs in several of the nation’s biggest industries are making headlines this week. The list includes Disney eliminating 28,000 employees connected to the coronavirus theme park shutdowns, United Airlines and American Airlines collectively planning to put 32,000 workers on furlough, and insurer Allstate cutting almost 4,000 jobs. But MKM Partners’ Michael Darda suggests it’s not the time to
U.S. House Speaker Nancy Pelosi (D-CA) and Senate Minority Leader Chuck Schumer (D-NY) speak to reporters after their coronavirus relief negotiations with Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows at the U.S. Capitol in Washington, U.S. August 7, 2020. Jonathan Ernst | Reuters The trading community is actively debating the
Take a look at some of the biggest movers in the premarket: PepsiCo (PEP) – The snack and beverage giant reported quarterly profit of $1.66 per share, beating the consensus estimate of $1.49 a share. Revenue came in above estimates as well, boosted in part from increased snack purchases by homebound consumers. PepsiCo said it
GAC unveiled its electric sports car prototype on Sept. 26, 2020, at the Beijing auto show. Evelyn Cheng | CNBC BEIJING — Some of the flashiest items Chinese companies had on display at the first major auto show since the coronavirus pandemic were concept sports cars. While vehicle sales for state-owned Guangzhou Automobile Group (GAC) fell 9.87%
Dallas Fed President Robert Kaplan told CNBC on Wednesday that it is likely appropriate to keep interest rates anchored near zero for up to three years to aid the U.S. economic recovery from the coronavirus pandemic. “I think we’re going to need to keep the Fed funds rate at zero … for the next probably
Take a look at some of the biggest movers in the premarket: Walt Disney (DIS) – Disney is cutting 28,000 jobs in its theme parks division, as the coronavirus impacts park visits and as the company’s flagship Disneyland resort remains closed for the foreseeable future due to restrictions imposed by California. Palantir (PLTR) – Palantir
Money manager Loreen Gilbert is optimistic the market will return to all-time highs this year, and it has nothing to do with who wins the presidential election. She’s building her case on a strong — albeit uneven — economic recovery. “You can’t fight the train that’s already in motion,” WealthWise Financial CEO, told CNBC’s “Trading
David M. Solomon, Chairman and CEO of Goldman Sachs, speaks during the Milken Institute’s 22nd annual Global Conference in Beverly Hills, April 29, 2019 Mike Blake | Reuters Goldman Sachs CEO David Solomon restructured several of his businesses and named new heads for the bank’s asset management and consumer and wealth management divisions. The moves announced
BTS attend the Billboard Music Awards at MGM Grand Garden Arena on May 01, 2019 in Las Vegas, Nevada. Frazer Harrison | Getty Images Entertainment | Getty Images SINGAPORE — The highly anticipated market debut of Big Hit Entertainment, the music label behind South Korean K-pop megastars BTS, will shift South Korea’s public listing landscape
Porsche is working with third-party operators for more than 200,000 charging points in China. Evelyn Cheng | CNBC BEIJING – Luxury and electric vehicles emerged as bright spots at this year’s Beijing Auto Show, which kicked off this weekend in the aftermath of the coronavirus pandemic with about 200 fewer vehicles than previous shows. China
Evan Spiegel, co-founder and chief executive officer of Snap Inc., speaks during the New Work Summit in Half Moon Bay, California, U.S., on Monday, Feb. 25, 2019. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines midday Monday: Devon Energy, WPX Energy — Shares of Devon jumped 9% while WPX
With a little more than five weeks before Election Day, Allianz Global Investors’ Mona Mahajan speculates the worst of the correction is behind the market. She believes true fear on Wall Street is absent, and the current level of uncertainty should limit sharp upside and downside moves. “A lot of institutional investors buyers, especially, are
People visit China Telecom’s booth during 2019 World 5G Convention at Beijing Etrong International Exhibition & Convention Center on November 21, 2019 in Beijing, China. VCG | Getty Images BEIJING — Global investors are stepping up their bets on Asia, particularly China, regardless of the coronavirus pandemic’s shock to growth or growing geopolitical tensions. Just this
A Chinese national flag seen in front of Oriental Pearl Tower in Shanghai on September 8, 2019. Alex Tai | SOPA Images | LightRocket via Getty Images SINGAPORE — Major index provider FTSE Russell said Thursday it will add Chinese government bonds to its flagship World Government Bond Index from October next year — a development