US stocks jumped at the open on Friday as an easing in US-China friction added to optimism from data showing the US economy lost fewer jobs in April than feared due to the coronavirus crisis. The Dow Jones Industrial Average rose 231.93 points, or 0.97 per cent, at the open to 24,107.82. The S&P 500 […] More
Peloton machine Source: Peloton Many on Wall Street were convinced the usual playbook would occur when this market and economic downturn hit. Bubble-like tech stocks that led the way up would get crushed as a bear market exposed their hype and sent stock speculators scrambling. But the opposite has happened. The names skeptics used to […] More
Lloyd Blankfein, the ex-Goldman Sachs CEO whose bank accepted bailout funds during the financial crisis, said that large companies should be “very reluctant” to take taxpayer money amid the coronavirus pandemic. “Big companies should be very reluctant to take government money,” Blankfein said Thursday on CNBC’s Squawk Box in response to a question about how […] More
The Nasdaq Composite index posted 18 new highs and 14 new lows for the session The Nasdaq Composite index jumped more than 1 per cent on Monday, leading a rebound in the US stocks following two days of losses. The technology stocks-heavy Nasdaq index spiked as much as 1.29 per cent – or 110.87 points – […] More
Jeffrey Gundlach speaking at the Sohn conference in New York on May 4, 2016. David A. Grogan | CNBC Billionaire hedge fund manager Jeffrey Gundlach said Monday a popular exchange-traded fund is incredibly overvalued given some of the Federal Reserve’s actions to support the economy during coronavirus pandemic. “The LQD looks to be about the […] More
Charles Munger David A. Grogan | CNBC Charlie Munger, vice chairman of Berkshire Hathaway, will not be taking questions at the company’s annual shareholder’s meeting alongside Warren Buffett as the coronavirus pandemic forces changes to the widely anticipated event. Instead, it will be Greg Abel, Berkshire’s vice chairman of non-insurance operations, taking previously submitted questions […] More
Even as the U.S. small business relief program is set to reopen Monday with fresh funding, the full extent that public companies tapped the emergency facility is only now becoming clear. More than 245 public companies applied for at least $905 million from the government program that was billed as for small businesses without access […] More
CNBC’s Jim Cramer warned Monday that the U.S. economy may be too weak right now to handle another trade fight with China and discouraged the Trump administration from imposing a new wave of tariffs against Beijing. Cramer also drew a comparison to the Great Depression, saying that to hike tariffs against China now would be […] More
General Electric on Wednesday reported a steep decline in first-quarter revenue as the industrial giant took a hit from the coronavirus pandemic. The company posted revenue of $20.524 billion, which represents a year-over-year decline of 8%. On an adjusted per-share basis, the company earned 5 cents. That was below a Refinitiv estimate of 8 cents per […] More
I was biking up a big hill in Boston on a recent Sunday morning, an activity I’ve resorted to now that I can’t play tennis or go to spinning class. I was huffing and puffing, so I pulled down my face mask, which is required outdoor attire in my town. I noticed a runner coming […] More
As encouraging as the market comeback this month has been, Wall Street has little faith in it. A leveling out of coronavirus hospitalizations, rising hopes for a treatment and a partial reopening of the economy sparked a steep rebound this month, with the S&P 500 popping more than 12%, posting its best month since 1987 […] More
Moran Forman of Goldman Sachs, 33, in her home office in the Chelsea neighborhood of New York. Source: Goldman Sachs Each weekday morning, Moran Forman wakes up in her Chelsea apartment, takes a few steps to a spare bedroom and powers up the full might of Goldman Sachs on a curved LCD screen. Forman, a […] More
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