Meric Greenbaum, Designated Market Maker IMC financial looks up at the board before the opening bell right before trading halted on the New York Stock Exchange on March 9, 2020 in New York. Timothy A. Clary | AFP | Getty Imgaes The S&P 500 could return to record highs by early next year if U.S.
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Staff members work at the assemble plant of FAW-Volkswagen Automobile in Chengdu, southwest China’s Sichuan Province, Feb. 19, 2020. Liu Kun | Xinhua via Getty Images BEIJING — Chinese businesses are getting back to work just as many parts of the world are shutting down, and that could add a second jolt to the world’s second-largest economy.
David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs CEO David Solomon got a 20% raise to $27.5 million for his work leading the bank in 2019. His pay package includes a $2 million annual salary, $7.65 million in a cash
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.
Main Street may be more resilient than Wall Street during the coronavirus crisis. Former Office of Management and Budget director David Stockman warns the pandemic is exposing risky speculation and shaky market fundamentals. “Wall Street is toast,” he told CNBC’s “Trading Nation” on Thursday. “It’s going to end as a financial crisis because the illusion
Tesla vehicles stand outside of a Brooklyn showroom and service center on August 27, 2018 in New York City. Spencer Platt | Getty Images Check out the companies making headlines after the bell. Crowdstrike — The cybersecurity company’s stock soared 19% in extended trading after the company posted fourth-quarter revenue that exceeded analysts’ expectations. Crowdstrike
Traders work on the floor of the New York Stock Exchange. Michael Nagle | Bloomberg | Getty Images Some investors are taking a counter-intuitive approach when looking for a bottom in stocks amid this historic sell-off: They are waiting for the coronavirus headlines to get much scarier before buying. Under normal market dynamics, investors and
US Federal Reserve Chair Jerome Powell speaks at a “Fed Listens” event in Washington, DC, on October 4, 2019. Eric Baradat | AFP | Getty Images The Federal Reserve took another page out of its 2008 crisis-era playbook late Wednesday evening, invoking its emergency authority to create a backstop for prime money market mutual funds.
Bloomberg | Bloomberg | Getty Images Check out the companies making headlines after the bell. Williams-Sonoma — The home goods retailer’s stock was up 2% in extended trading after the company posted a double beat on earnings and revenue in the fourth quarter. Williams-Sonoma reported earnings of $2.13 per share excluding some items on revenue of
Take a look at some of the biggest movers in the premarket: Boeing (BA) – Boeing is seeking access to $60 billion in public and private liquidity for the U.S. aerospace industry. Boeing has already told the government it cannot meet its liquidity needs under current market conditions. Tesla (TSLA) – Tesla was ordered to halt production
Revolut, one of Europe’s biggest fintech (financial technology) firms, has launched a “money management” product for children, which can be monitored by parents via the app. The online-only bank, which currently has more than 10 million users worldwide, announced Wednesday it was launching Revolut Junior, an app aimed at kids between the ages of 7
SoftBank founder Masayoshi Son (L) and WeWork founder Adam Neumann. Getty Images SoftBank may be walking away from part of its bailout of WeWork by not completing its $3 billion tender offer for the office space startup, according to people familiar with matter. SoftBank had planned a $3 billion tender offer for WeWork shares, which
Take a look at some of the biggest movers in the premarket: Regeneron Pharmaceuticals (REGN) – The biotech company said it aims to have a potential drug for COVID-19 ready for clinical trials by early summer, earlier than previously expected. The drug is designed to both treat and prevent COVID-19. Pfizer (PFE), BioNTech (BNTX) –
Traders and financial professionals work during the opening bell on the floor of the New York Stock Exchange (NYSE), May 14, 2019 in New York City. Drew Angerer | Getty Images Stock futures traded higher on early Tuesday morning after Wall Street suffered massive losses on Monday amid concerns over the economic blow from the coronavirus
An exterior view shows MGM Grand Hotel & Casino on the Las Vegas Strip as the coronavirus continues to spread across the United States on March 15, 2020 in Las Vegas, Nevada. Ethan Miller | Getty Images Check out the companies making headlines after the bell. MGM Resorts International — Shares of the resort company were
Traders work on the floor of the New York Stock Exchange (NYSE) on March 03, 2020 in New York City. Spencer Platt | Getty Images With stocks nosediving again, Wall Street strategists are mostly punching in the dark because of the uncertainty surrounding the coronavirus outbreak and economic impact. But they are giving clients some
The U.S. Federal Reserve‘s latest moves — which include cutting interest rates to zero — deserve applause, even though the American economy could still head into a recession given the uncertainty around the coronavirus outbreak, a former Fed official said. “I think recessionary conditions are definitely a risk and we’re dealing with so much uncertainty
Traders work ahead of the closing bell on the floor of the New York Stock Exchange (NYSE) in New York City. Drew Angerer | Getty Images Stock futures plunged Sunday night even after the Federal Reserve embarked on a massive monetary stimulus campaign to curb slower economic growth amid the coronavirus outbreak. While the central
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 2, 2020. Brendan McDermid | Reuters An economic slowdown is inevitable in the face of the fast-spreading coronavirus, but the U.S. will eventually avoid a technical recession, JPMorgan economists said. As the outbreak situation continued to worsen, JPMorgan
An aircraft operated by British low cost airline Easyjet moves past other aircrafts as a rainbow is seen at Amsterdam Airport Schiphol on March 9, 2020 in Schiphol, Netherlands. Yuriko Nakao | Getty Images Shares of major U.S. airlines got a respite Friday on expectations that the government will provide targeted financial relief from the