Category Archives for News

Coronavirus fears are pushing investors back into stay-at-home trades

Investors are bailing on a popular trade due to the coronavirus surge. Allianz Global Investors’ Mona Mahajan finds a rush of money is flowing back into stay-at-home plays. “The cyclical story is on hold for now,” the firm’s U.S. investment strategist told CNBC’s “Trading Nation” on Thursday. “The trade is moving out of that reopening, cyclical trade […]

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Walmart’s stock rises 7% on report of Amazon Prime competitor coming this month

Walmart’s answer to Amazon Prime will launch this month, according to a report by Vox’s Recode. The big-box giant confirmed in February that it plans to roll out a subscription-based service called Walmart+, but it hasn’t revealed details or its strategy to attract members and stand out from competitors. Shares rose by nearly 7% Tuesday to close at $126.95. The […]

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Dow jumps 300 points to start the week as Wall Street shakes off a rise in virus cases

Stocks traded sharply higher on Monday as Wall Street tried to build on the momentum from last week’s solid performance and shake off a continued rise in coronavirus cases. The Dow Jones Industrial Average rose 300 points, or 1.2%, while the S&P 500 gained 1.3%. The tech-heavy Nasdaq Composite jumped 1.8% to an all-time high. There were […]

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Stocks rally on record jobs gain, but bonds reflect concern that virus spread could slow hiring

U.S. Defense Department

Stocks rallied on a much stronger-than-expected gain in hiring, but the bond market appears to be looking to the future and there are real doubts about whether the pace of job growth can be sustained if the coronavirus continues to spread. June’s employment report Thursday showed a record gain of 4.8 million jobs, about 1.8 million […]

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Here are the key questions for the stock market heading into the second half of the year

Halftime of the year 2020 is nearly here, and the bulls are tired after mounting a furious comeback to narrow what was a deep deficit after the first quarter. Fatigue was to be expected after the best 11-week sprint in market history, a gain of 44% in the S&P 500 from March 23 through June 8. […]

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Albertsons is giving an IPO another try — here are 5 things to know about the grocer

third-quarter earnings

With food-at-home in high demand due to the coronavirus pandemic, Albertsons Cos. has filed paperwork to go public. Albertsons is expected to start trading on the New York Stock Exchange on Friday under the ticker symbol “ACI.” Late Thursday, the company priced its IPO at $16 a share, lower than the $18-to-$20 price range it was […]

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The IPO market is back after its March freeze. Here’s what experts say revived it and where it’s going from here.

Initial public offerings came to a sudden halt in March as stocks plummeted further into bearish territory and economists forecasted the worst recession in nearly a century. After a month of near-complete silence, IPO activity roared back to life. Newly tradable firms – and their investors -paid little mind to coronavirus risks and weakened consumer demand. […]

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Jobless claims total 1.5 million, worse than expected as economic pain persists

Weekly jobless claims stayed above 1 million for the 13th consecutive week as the coronavirus pandemic continued to hammer the U.S. economy. First-time claims totaled 1.5 million last week, higher than the 1.3 million that economists surveyed by Dow Jones had been expecting. The government report’s total was 58,000 lower than the previous week’s 1.566 million, […]

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Dow futures surge 500 points as stocks look to extend gains after Monday’s big comeback

China’s economic

Futures contracts tied to the major U.S. stock indexes rose Monday evening as investors looked to extend Wall Street’s gains from Monday’s dramatic comeback. Dow Jones Industrial Average futures rose 532 points, suggesting an open gain of more than 579 points when regular trading resumes on Tuesday. S&P 500 and Nasdaq-100 futures also implied a positive Tuesday […]

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Bankrupt Hertz granted approval to sell up to $1 billion in shares

Hertz was granted approval Friday by the U.S. Bankruptcy Court for the District of Delaware to sell up to $1 billion in stock. The potential sale is highly unusual for a company going through Chapter 11 bankruptcy proceedings since common shareholders, who are last in line when assets are allocated during court proceedings, may be left […]

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