Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer said Wednesday that positive news from Gilead Sciences about a potential treatment for the coronavirus marked a turning point in the fight against Covid-19. “What I regard this as is the beginning of the end of the true nightmare, which is that it’s a death sentence,” Cramer said on
Month: April 2020
Stocks are looking past the gloom of deeply recessionary economic news and finding hope in a reopening economy and the idea that drugs may ultimately be able to help fight the coronavirus. The market bounded higher Wednesday on a combination of what look like ‘green shoots,’ the most hopeful of which were reports of Gilead’s
The Federal Reserve said Wednesday it would keep its benchmark interest rate near zero in response to the economic shock from the coronavirus crisis. “The most significant responsibility of the Fed now is to make sure that credit markets continue to function,” said Greg McBride, chief financial analyst at Bankrate.com. “Without functioning credit markets, there will be no economic
Almost all markets across the world have been in turmoil owing to the economic uncertainties brought about by the coronavirus pandemic, and in that regard, the crypto market has been no different. However, one of the major cryptocurrencies to have made a remarkable recovery since hitting its lowest levels in March is Ethereum (ETH), and
Investors should look to sectors that lately have been “completely eviscerated” as the U.S. economy seeks to recover from the coronavirus crisis, Morgan Stanley’s Mike Wilson told CNBC on Tuesday. “We’re bullish overall, and we just think there’s more upside in potentially some of the laggard areas,” Wilson said on “Fast Money.” “That’s not saying anything bad
A woman walks in the rain outside the New York Stock Exchange (NYSE) in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York, April 13, 2020. Andrew Kelly | Reuters I know this sounds strange, but this was a good day for the stock market, even with
Federal Reserve Chairman Jerome Powell speaks at his news conference following the two-day meeting of the Federal Open Market Committee (FOMC) meeting on interest rate policy in Washington, January 29, 2020. Yuri Gripas | Reuters The Fed is not expected to announce any new policy initiatives when its meeting ends Wednesday, but it could provide
A view of an apartment building in the Chelsea neighborhood of Manhattan, New York City. Drew Angerer | Getty Images As job losses and unemployment continue to increase as a result of the coronavirus pandemic, more than half of Americans who rent their residence say they lack confidence they will be able to pay May
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 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 most
Dr Pepper soda in the warehouse at the Dr Pepper Snapple Group bottling plant in Louisville, Kentucky, in April 2015. Luke Sharrett | Bloomberg | Getty Images Check out the companies making headlines after the bell. Keurig Dr Pepper — The beverage company’s stock soared 7% in extended trading after Keurig Dr Pepper reported first-quarter earnings.
Contractors construct a wood deck while working on a home under construction in the Norton Commons subdivision in Louisville, Kentucky, U.S., on Monday, March 23, 2020. Luke Sharrett | Bloomberg | Getty Images Home sales nearly ground to a halt at the end of March, as the coronavirus pandemic forced an economic shutdown that scuttled
Geology is the study of pressure and time. That’s all it takes really… pressure… and time. Red Redding “The Shawshank Redemption” Pressure. Time. And a big gosh darn supertanker. Apologies for altering one of Morgan Freeman’s most famous lines in movies, but it had to be done to fit the oil drama that’s playing out
Take a look at some of the biggest movers in the premarket: American Express (AXP) – American Express reported quarterly profit of $1.98 per share, an adjustment that excludes an increase in credit reserves, with GAAP earnings at 41 cents per share. The consensus estimate was $1.43 per share. The financial services company increased its
Signage stands outside the Freddie Mac headquarters in McLean, Virginia, U.S.. Andrew Harrer | Bloomberg | Getty Images As the economic shutdown drags on and job losses mount, more borrowers are opting to delay their monthly mortgage payments through mortgage forbearance plans. The majority are doing it through a program designed to provide relief to
A Sierra Wireless display at a trade show. Source: Sierra Wireless Lion Point Capital, run by alumni of Elliott Associates, Perry Capital and Starboard Value, struck an agreement this month with Sierra Wireless, a struggling telecom hardware maker that’s trying to become a software company. We believe Lion Point has a good chance at getting
A woman wearing a face mask at her house. Robin Utrecht | Echoes Wire | Barcroft Media via Getty Images As the economy shut down, businesses diverted spending to technology, while cutting back more broadly on other outlays including their payments to suppliers, according to data tracking business-to-business spending. Even before the state shutdowns took
Spencer Platt | Getty Images The coronavirus economic shock has left Americans downbeat about stock market investing, even after the major market rebound off March lows, according to a new survey from Gallup. Only 21% of Americans think stocks or mutual funds are the best long-term investment — down six points from 2019 — which
Despite outrage on Main Street and new pressure from the Treasury Department this week, several publicly traded companies that received payroll relief funds from the Small Business Administration oppose demands to return the cash. The companies said the Paycheck Protection Program loans have allowed them to keep employees on payroll and that they disagree with
Long-time professional traders watching the near implosion of the United States Oil Fund could only watch in wonder. “It tells me people always want to make a quick buck,” said John Davi, chief investment officer and founder of Astoria Portfolio Advisors. He was referring to retail investors who lost a boatload of money investing in
A masked pedestrian carrying water bottles walks past the Charging Bull statue in lower Manhattan on April 02, 2020 in New York City. Bruce Bennett | Getty Images The stock market is struggling to make headway, as a big week of events rolls around, including a Federal Reserve meeting, the first look at post-shutdown economic
A logo sign outside of the headquarters of loanDepot in Lake Forest, California Kristoffer Tripplaar | Sipa USA | AP Images One of the nation’s largest nonbank mortgage lenders is about to get even larger. California-based loanDepot announced it will hire 3,000 new employees by the end of this year, starting with 400 now. On
The crypto space has not been in the best of health over the past few weeks as the coronavirus pandemic and the associated turmoil in the markets took its toll. However, that does not mean that important developments have not been taking place in the crypto sphere amidst the turmoil. Key Things to Watch One
Steven Eisman, senior portfolio manager at Neuberger Berman. Katie Rooney | CNBC Renowned investor Steve Eisman said Thursday U.S. banks are an attractive investment following the coronavirus-induced market sell-off. “I actually think long-term, the best cyclical play out there are the very large banks,” Eisman, senior portfolio manager at Neuberger Berman, told CNBC’s “Fast Money.”
Pedestrians pass in front of an E-Trade location in New York. Scott Mlyn | CNBC Check out the companies making headlines after the bell. Alphabet — The tech giant’s stock was down 2% in extended trading after CNBC reported that Google is reducing its marketing budgets by as much as half for the second half of
Sales of both newly built and existing homes tanked in March, as potential buyers hunkered down and potential sellers pulled their homes from the market, both watching their economy in free fall from the coronavirus. Now, suddenly, buyer demand at least may be climbing back. Pending home sales, which measure signed contracts, not closings, are
An Astra rocket on the launchpad in Kodiak, Alaska. Astra | John Kraus Years of private funding flowing into young and growing space companies has ground to a halt during the coronavirus pandemic, in what one firm describes as a “culling” of space companies backed by venture capital. Investment in private space companies had seen a
CSX freight lines run through center city Philadelphia Paul Marotta | Getty Images Check out the companies making headlines after the bell. CSX — The transportation company’s stock rose 2% in extended trading after the company reported first-quarter earnings. CSK reported earnings of $1.00 per share, while analysts expected 94 cents per share, according to
Signage stands outside the Freddie Mac headquarters in McLean, Virginia, U.S., on Tuesday, Oct. 1, 2019. Andrew Harrer | Bloomberg | Getty Images The Federal Housing Finance Agency, regulator of Fannie Mae and Freddie Mac, announced that the two mortgage giants will now buy home loans that go into the government’s forbearance program just after
Hundreds of millions of dollars of in Paycheck Protection Plan emergency funding has been claimed by large, publicly traded companies, new research published by Morgan Stanley shows. In fact, the U.S. government has allocated at least $243.4 million of the total $349 billion to publicly traded companies, the firm said. The PPP was designed to
The crude oil tanker, Chemtrans Cancale, is seen anchored off shore as it waits to dock at Port Everglades on April 20, 2020 in Fort Lauderdale, Florida. Joe Raedle | Getty Images “Know what you own” is an old adage when investing, but it is especially important when owning investments that hold futures contracts. Just
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