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
(L-R) Rita Wilson and Tom Hanks attend the 77th Annual Golden Globe Awards at The Beverly Hilton Hotel on January 05, 2020 in Beverly Hills, California. Steve Granitz | WireImage | Getty Images Academy Award-winning actor Tom Hanks and his wife Rita Wilson have tested positive for the coronavirus, Hanks revealed Wednesday. Hanks and Wilson
A tour operator, wearing a protective mask, gestures as he leads a tour near the US Capitol in Washington, DC on March 9, 2020. Andrew Caballero-Reynolds | AFP | Getty Images High-deductible health insurance plans may cover the cost of coronavirus testing and treatment — without individuals having to meet their deductibles, the IRS said
U.S. President Donald Trump (L) is introduced by White House economic adviser Larry Kudlow during an Opportunity Zone conference with state, local, tribal and community leaders, in the Eisenhower Executive Office Building. Mark Wilson | Getty Images The leaders of the biggest U.S. banks are scheduled to meet with President Trump Wednesday afternoon as the
Rockstar energy drink Arun Nevader | Getty Images He failed as a politician. He couldn’t sell his business idea to a vodka company. And he mortgaged his house for $50,000 to launch a business everyone said would flop. But today, Russell Weiner is a cash-rich billionaire after selling Rockstar Energy Drinks to PepsiCo for $3.85
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
Boeing 737 MAX airplanes are parked at Grant County International Airport October 23, 2019 in Moses Lake, Washington. David Ryder | Getty Images Boeing reported Wednesday that it logged more commercial aircraft cancellations than new orders in February, marking a bleak start to the year for the manufacturer already reeling from two fatal crashes of its
Nobu Matsuhisa, owner of Nobu Restaurants and Hotels and author of “Nobu: A Memoir,” shares how to eat sushi the traditional Japanese way. Following is a transcript of the video; it has been edited for clarity. Nobu Matsuhisa: I’m Nobu Matsuhisa, owner of Nobu Restaurants Group and Hotels. Chef Matsuhisa opened his first restaurant in
Preparing taxes can be a headache. For many taxpayers, it doesn’t have to come with a cost, too. Between public and private options, both online and in person, there are a number of options for free preparation and filing. For about 70% of the nation’s taxpayers — those with adjusted gross income of $69,000 or
US President Donald Trump gestures after arriving on Capitol Hill as US Senate Majority leader Mitch McConnell (R-KY) and Senator Roy Blunt (R-MO) look on in Washington, DC on March 10, 2020. Nicholas Kamm | AFP | Getty Images As oil prices decline and pressure energy companies, President Donald Trump will reportedly likely seek a
Moyo Studio | E+ | Getty Images This week’s markets may be giving some investors flashbacks to 2008, when stocks hit a turbulent stretch and the financial crisis began. However, fearful investors should take heart: The factors at play in this market are very different than they were then, executives from Merrill Lynch Wealth Management
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
A person wears a face mask as a precaution against coronavirus in New York, on March 2, 2020. Tayfun Coskun | Anadolu Agency | Getty Images An Uber driver. A Starbucks barista. A Walmart store employee. Retailers, fast-food chains and customer service-related companies face a new challenge as the coronavirus outbreak spreads in the U.S.:
Ngampol Thongsai / EyeEm Americans’ health may not be the only thing at stake as the coronavirus continues its unrelenting spread in the U.S. The virus could also prove financially crippling for many individuals. “There are all kinds of pathways for people to be financially affected by this,” said John Graves, an associate professor of
CNBC’s Jim Cramer said Tuesday that he feels better about buying stocks now that President Donald Trump publicly acknowledged the need for coronavirus relief for workers and small businesses. Trump plans Tuesday to meet with Senate and House Republicans to discuss “a possible payroll tax cut” and other “substantial relief” as coronavirus cases in the
When things get scary, we all look for something to protect us. A new approach, somebody who seems to have the latest and greatest idea, which appeals to the irrational parts of us that are responding from fear. In the case of coronavirus, this has led to mass purchases of household supplies, protective masks and
Source: Stitch Fix Check out the companies making headlines in midday trading. Stitch Fix — Shares of Stitch Fix plummeted nearly 30% after the personal styling service issued a bleak outlook and reported quarterly revenue that missed analysts’ expectations. Stitch Fix reported sales of $451.8 million, below the forecast $452.5 million, according to Refinitiv. Its next
An almost empty British Airways passenger plane flies from Milan to London on March 5, 2020 in Milan, Italy. Laurel Chor | Getty Images European airlines have been running near-empty flights in order to retain valuable airport slots, drawing sharp criticism from climate activists as the coronavirus outbreak dramatically reduces passenger demand. A so-called “use-it-or-lose-it”
Bioengineering the Senses: A closer look at tech on the frontiers of medical science. Today we look at the machine behind physicist Stephen Hawking — and how smartphone technology is helping him communicate. — Subscribe to Bloomberg on YouTube: http://www.youtube.com/Bloomberg Bloomberg Television offers extensive coverage and analysis of international business news and stories of global
GSO Images When the stock market goes haywire, gold often becomes the “gold” standard in the eyes of everyday investors. True to form, gold is coming off its best week since 2016, as fears around the global spread of the coronavirus led to a sharp selloff in the stock market and nudged investors to retreat to what they perceived
Oil pumpjacks in the Permian Basin oil field are getting to work as crude oil prices gain. Spencer Platt | Getty Images CNBC’s Jim Cramer said Monday he could see the oil industry experiencing a significant wave of bankruptcies if low crude prices persist. Of the more than 35 companies in the oil industry he
CasarsaGuru If the coronavirus has you spooked, you’re in good company. Even wealthy investors are building up their cash cushions. Global markets haven taken a beating over the last two weeks, amid worries about COVID-19. The pain continued on Monday morning as the S&P 500 tumbled by more than 7% and trading was halted. Recent
A person wearing a protective mask sits in a Bay Area Rapid Transit (BART) train car in San Francisco, California, on Wednesday, Feb. 26, 2020. David Paul Morris | Bloomberg | Getty Images It takes an average of about five days for COVID-19 symptoms to show after contracting the virus, while the vast majority of
Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, chairs a symposium at the School of Medicine at Tsinghua University in Beijing, capital of China, March 2, 2020. Yan Yan | Xinhua News Agency | Getty Images Chinese President Xi Jinping flew
Jim McGuire | Getty Images As the market hits the skids, experts are warning that you shouldn’t make rash moves with your portfolio. And that includes one retirement income source you might turn to for safety: your Social Security benefits. A recent survey from SimplyWise, a retirement income technology provider, found that 1 in 4
The stock market continues to slide as coronavirus concerns persist, but shares of Amazon are looking like a buying opportunity, CNBC’s Jim Cramer said Monday. “I like Amazon right here,” Cramer said on “Squawk on the Street.” “I think you start a position in Amazon absolutely.” Amazon’s stock was down more than 2% on Monday and
Jeff Bezos Getty Images Jeff Bezos lost $7 billion in paper wealth overnight, and more than $18 billion over the past month, as Amazon’s share price has plunged on fear that the coronavirus outbreak will slow the global economy. The world’s richest person saw his wealth drop to $110 billion overnight, down from $117 billion,
JetBlue Airways on Monday withdrew its first-quarter and full-year earnings forecast and said it was considering voluntary time-off programs for employees, as the coronavirus outbreak wreaks havoc on the global travel industry. JetBlue said it is adjusting schedules between March and early May due to falling demand, and is evaluating further flight cancellations as the
Fears over the spread of the coronavirus is leading to emptier planes, sending airline shares down to fresh multiyear lows and handing carriers their biggest challenge in a generation. Some airlines are pausing hiring, offering unpaid leave and cutting flights to reduce costs as the virus spreads. U.S. airlines, which analysts consider among the best
The JP Morgan Chase flag outside company headquarters in New York. Peter Foley | Bloomberg | Getty Images Bank shares plunged Monday as collapsing oil prices and bond yields sparked worry that the widening impact of the coronavirus could cause a recession. JPMorgan Chase, the biggest U.S. bank, fell nearly 12% by 1 p.m. ET,
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