Traders work on the floor of the New York Stock Exchange. NYSE For most of the eight months since the Covid crash culminated, the stock market’s recovery has fed off rampant doubt, disbelief and cognitive dissonance toward resurgent asset prices set against a severely damaged economy. No more. Wall Street’s rally has now entered the
Month: November 2020
Traders work the floor of the New York Stock Exchange. NYSE A big year-end rally? Don’t get too excited yet. December is traditionally an up month: Since 1945, the S&P 500 rose nearly 1.5% in all Decembers and advanced in price 73% of the time, according to Sam Stovall at CFRA Research. But hopes for the
Moderna in Cambridge, MA is pictured on Feb. 28, 2020. David L. Ryan | The Boston Globe via Getty Images Check out the companies making headlines midday Monday: Moderna — Shares rallied more than 14% after the drugmaker said its coronavirus vaccine candidate was more than 94% effective in preventing Covid-19 during a trial. The
UNIONDALE, NEW YORK – MAY 27: An aerial view of a construction worker roofing an apartment home on … [+] May 27, 2020 in Uniondale, New York. The residential housing project by Garden City developers Engel Burman will provide approximately 150 construction jobs, help address a dire housing shortage, and support the County by retaining
People wait to visit a house for sale in Floral Park, Nassau County, New York. Wang Ying | Xinhua News Agency | Getty Images Strong, pandemic-induced demand for housing is still there, but buyers may now be hitting an affordability wall. Pending home sales fell 1.1% month-to-month in October but were 20.2% higher compared with
Frank Calderoni, CEO of Anaplan. Adam Jeffery | CNBC In the final leg of 2020, stocks have delivered a record-breaking rally. The Dow Jones Industrial Average recently closed above 30,000 for the first time, with the other major U.S. stock indexes hovering close to record highs. Encouraging updates on the advancement of a coronavirus vaccine
Take a look at some of the biggest movers in the premarket: AstraZeneca (AZN) – AstraZeneca is likely to run a new global trial of its Covid-19 vaccine candidate, according to CEO Pascal Soriot. He told Bloomberg News that the drugmaker may launch a fresh study testing the vaccine at a lower dosage, rather than
Former basketball star Dwyane Wade and his wife, actress Gabrielle Union, are seeking $6.2 million … [+] for the 8,500-square-foot home in Sherman Oaks, Calif. Hilton & Hyland It takes big shoes to fill those of former NBA star Dwyane Wade and even bigger ones to fill his custom home in the San Fernando Valley.
People walk into a house for sale in Floral Park, Nassau County, New York, on Sept. 6, 2020. Wang Ying | Xinhua News Agency | Getty Images Strong, Covid-induced demand from homebuyers over the summer caused an exceptionally strong spike in home prices. Values jumped 7% annually, in September, up from a 5.8% annual gain
The PayPal application can be seen on a mobile phone. Felix Kästle | picture alliance | Getty Images Fintech companies are helping fuel demand for bitcoin as they open the floodgates for millions of people to trade it. By one firm’s analysis, PayPal and Square clients have been buying the majority of the new bitcoin
Traders work the floor of the New York Stock Exchange. NYSE Stocks next week will come off one of their best months ever into a busy week of economic data and the ongoing tensions between the spreading virus and positive news on vaccines and treatments. Another highlight of the week is expected to be Tuesday’s
Here’s your holiday gift guide for the home Unsplash Not sure what to get everyone on your list this year? You likely aren’t alone. After such a defining period, where most of us have ended up spending more time than ever at home, what could be more appreciated and useful right now than gifts for
As many as 35 million Americans are facing the possibility of eviction due to an inability to make housing payments on time. In some states, such as Mississippi, Florida, and West Virginia, the proportion of renters facing the possibility of eviction exceeded 50% earlier this year. If you’re among the millions of Americans caught in the late
U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell are seated to testify before a House Financial Services Committee hearing on oversight of the Treasury Department’s and Federal Reserve’s coronavirus disease (COVID-19) pandemic response on Capitol Hill in Washington, U.S., September 22, 2020. Joshua Roberts | Reuters The Federal Reserve could provide clues
An Amazon.com Inc worker prepares an order in which the buyer asked for an item to be gift wrapped at a fulfillment center in Shakopee, Minnesota, U.S., November 12, 2020. Amazon.com Inc | Reuters Check out the companies making headlines in midday trading. Moderna — The drugmaker’s stock jumped 11% after AstraZeneca’s CEO said the
Pet adoption and foster rates have soared during the pandemic. But for those living in dense urban … [+] areas, finding pet-friendly accommodations isn’t always easy. getty More dogs and cats are finding homes during the coronavirus pandemic, as many people have turned to furry friends to fill the emotional void while they social distance
Demonstrators display signs calling for an end to evictions and foreclosures during a rally at Boston Housing Court outside the Edward W. Brooke Courthouse on Oct. 29, 2020. David L. Ryan/The Boston Globe via Getty Images Expiring state eviction bans have led to hundreds of thousands of additional coronavirus cases, new research finds, raising alarm
SpaceX prototype rocket Starship SN8 stands on the company’s launchpad in Boca Chica, Texas before an engine test. @LabPadre SpaceX is aiming to launch its latest Starship rocket prototype as early as “next week,” CEO Elon Musk said on Tuesday, in what would be the company’s most ambitious flight test of the rocket to date.
Traders work the floor of the New York Stock Exchange. NYSE November’s strong rally may have stolen some of the thunder from a year-end rally. Promising vaccine news spurred a major rotation in November into cyclical stocks, like industrials and financials – the stocks that will do well in an economic recovery. The S&P 500
It took all of about five weeks for “Dancing With the Stars” contestant Jesse Metcalfe to land a … [+] buyer for his home in the Hollywood Hills. Hilton & Hyland After cutting a rug as a contestant on “Dancing With the Stars,” actor Jesse Metcalfe has cut himself a deal in the housing market,
In this Tuesday, July 17, 2012 photo, a single family home is offered for sale in the Hollywood area of Los Angeles. Average rates on fixed mortgages fell again this week to record lows, creating more incentive for buyers to enter the recovering housing market. Mortgage buyer Freddie Mac said Thursday, July 19, 2012, that
Richard Newstead | Moment | Getty Images Drones have arrived on Wall Street. Goldman Sachs, the world’s top mergers advisor, is among investment banks using drone technology to give its clients a bird’s-eye view of the companies they are bidding on, according to Stephan Feldgoise, the firm’s global co-head of mergers and acquisitions. After Covid-19
Take a look at some of the biggest movers in the premarket: Gap (GPS) – Gap reported quarterly earnings of 25 cents per share, missing consensus estimates by 7 cents a share. The apparel retailer’s revenue beat forecasts, however. Gap’s bottom line was hurt by increased marketing and shipping costs resulting from a shift to
In the COVID era, smart phone-enabled self touring is allowing property managers to fill more … [+] apartments. (Photo by Dinendra Haria/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images A second novel coronavirus surge currently sweeps the land. Herd immunity remains at least months off. Apartment building vacancies continue climbing. And according to
For a myriad of reasons, millennials, America’s largest generation, are becoming homeowners later in life and at lower rates than the generations of Americans that preceded them. The rapid expansion of the middle-class after World War II made owning a home easier and, ultimately, a symbol of the American dream. But according to the Urban
Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer said Tuesday that some of the stock gains in the market are “insane,” with investors recently buying certain names from Tesla to Royal Caribbean seemingly without regard for fundamentals or the state of the coronavirus pandemic and holding onto them. “Where are the profit takers” after
Take a look at some of the biggest movers in the premarket: Best Buy (BBY) – The electronics retailer reported quarterly earnings of $2.06 per share, beating the consensus estimate of $1.70 a share. Revenue came in above estimates as well. Best Buy’s comparable sales jumped 22.6%, well above the FactSet consensus estimate of 13.6%.
Globally, the use of renewable energy grew in 2020, representing about 90% of the total power capacity added for the year according to the International Energy Agency. In addition, renewables are positioned to overtake coal this decade as the most popular way to generate electricity. The Sanders Institute shows that solar is now cheaper than
Jb Reed | Bloomberg | Getty Images The average interest rate on the popular 30-year fixed mortgage has set a record low 13 times so far this year. It did it again last week. That has given current homeowners unprecedented potential to save on their monthly payments through a refinance. With the latest record low
Relativity Space Relativity Space wants to use enormous 3D-printers to revolutionize the way rockets are built – and CEO Tim Ellis told CNBC that the company now has a “war chest” of capital to do so. “We’re excited to announce a $500 million Series D funding round at a valuation above $2 billion from top
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