If coronavirus infections decline and Congress passes a fiscal stimulus package, Invesco’s Kristina Hooper says, stocks will make a sustainable comeback. She made the call as the Dow was plunging into a bear market, which reflects a 20% or more drop from 52-week highs. “I don’t think we’ve hit a bottom yet,” the firm’s chief
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A worker is seen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 28, 2020. Brendan McDermid | Reuters Check out the companies making headlines in midday trading. Apache Corp. – Shares of the exploration and production company slid more than 18% on the back of declining oil prices. Apache
Take a look at some of the biggest movers in the premarket: PepsiCo (PEP) – The snack and beverage giant announced a deal to buy energy drink maker Rockstar Energy for $3.85 billion, expanding its presence in the energy drink segment. Apple (AAPL) – Bank of America Securities cut its price target for the stock
Traders work at the New York Stock Exchange. Johannes Eisele | AFP | Getty Images U.S. stock futures fell sharply on Tuesday night, pointing to another volatile session on Wall Street following a massive rally. Around 7:40 p.m. ET, Dow Jones Industrial Average futures were down about 366 points, indicating a loss of more than
The headquarters of Morgan Stanley in New York. Shannon Stapleton | Reuters Morgan Stanley said that an employee at its suburban New York office has tested positive for the coronavirus disease. The bank conducted a “deep cleaning” of the Purchase office after making the discovery, the New York-based firm told employees Tuesday in an email.
Traders work at the New York Stock Exchange in New York, the United States, on Jan. 8, 2020. Xinhua News Agency Financial markets should be able to recover from the recent sell-off with the help of the Federal Reserve and the U.S. government, according to JPMorgan Chase. The firm believes stocks have priced in a
An employee works with produce at a farm that practices organic farming techniques in Beijing. Nelson Ching | Bloomberg | Getty Images While the coronavirus outbreak in China has hit many industries hard, some technology start-ups in agriculture are seeing demand rise. ”In the first two months of 2020, we delivered 4,000 units of our
Facing a wave of pressure from workers and increased scrutiny from lawmakers on Capitol Hill, gig economy companies from Uber to Doordash have been rolling out a slate of new policies as coronavirus continues to spread across the U.S. Uber and Lyft are planning to compensate drivers affected by the coronavirus for up to 14
Take a look at some of the biggest movers in the premarket: Carnival Corp. (CCL), Royal Caribbean (RCL), Norwegian Cruise Line (NCLH) – Cruise line stocks are under further pressure today after the U.S. State Department recommended that Americans avoid trips on cruise ships in an effort to contain the spread of the coronavirus. Exxon
Vladimir Putin just sparked what could end up being one of the ugliest oil price wars in modern history, and American oil and gas companies may be the victims. This weekend Saudi Arabia dropped the oil bomb. It not only cut its forward crude price to Chinese customers by as much as $6 or $7
Take a look at some of the biggest movers in the premarket: Costco (COST) – Costco reported quarterly earnings of $2.10 per share, 4 cents a share above estimates. Revenue also beat forecasts. Costco has been experiencing a surge in sales of consumer staples in recent weeks due to the coronavirus outbreak, and reported a
Council on Foreign Relations economist Benn Steil says the Federal Reserve’s half percentage point cut in interest rates may not be enough to keep the economy on track as the coronavirus spreads. “None of us would be surprised to see the Fed cutting further in the coming months,” the council’s senior fellow and director of
The “Fast Money” traders share their first moves for the market open. Steve Grasso was a buyer of Snap. Brian Kelly was a buyer of SPDR Gold Shares. Karen Finerman was a seller of S&P 500 ETF puts. Guy Adami was a buyer of FireEye. Disclaimer Trader disclosure: Brian Kelly is Long Bitcoin, Ethereum. Long GLD,
Farmer Dana Putnam tries to tap a maple tree for sap, but is unsuccessful. His trees are producing less sap as the climate changes. Emma Newburger | CNBC ORANGE COUNTY, NY — Dana Putnam drilled into a maple tree, added a plastic tube and waited for the sap to flow. Nothing happened. It’s the end
A woman jogs past an H&R Block office on Tax Day, April 18, 2017. Drew Angerer | Getty Images News | Getty Images Check out the companies making headlines in midday trading. Big Lots — Shares of Big Lots rallied more than 6% in midday trading after it confirmed it received notice from two activist investor
Traders work during the opening bell at the New York Stock Exchange (NYSE) on February 28, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images The S&P 500 has never behaved like this, but Wall Street strategists say get used to it. Investors just witnessed the equity benchmark swinging
A man runs past the New York Stock Exchange (NYSE). Bloomberg Hundreds of Wall Street traders are about to change their commute starting Monday. Citigroup is traders and salespeople from its headquarters in downtown Manhattan to a backup facility in Rutherford, New Jersey next week in contingency plans tied to the coronavirus, according to a
Robinhood co-founder and co-CEO Vlad Tenev speaks onstage during the TechCrunch Disrupt New York event on May 10, 2016. Noam Galai | Getty Images for TechCrunch Rivals to popular investing app Robinhood aren’t jumping at the opportunity to celebrate the company’s recent outage. The U.S. commission-free trading platform experienced a massive outage that began on
A visitor holding a revolver by US manufacturer Smith & Wesson (S&W) at the IWA OutdoorClassics trade show for hunting, shooting sports, equipment for outdoor activities and for civilian and official security applications. Daniel Karmann | picture alliance | Getty Images Check out the companies making headlines after the bell. American Outdoor Brands — The gun
The “Fast Money” traders share their first moves for the market open. Tim Seymour was a buyer of Home Depot. Steve Grasso was a buyer of Snap. Dan Nathan was a buyer of JetBlue. Guy Adami was a buyer of Occidental Petroleum. Disclaimer Trader disclosure: Tim Seymour is long AMZA, AMZN, AAPL, ACBFF, ACRGF, ALEF, ACB,