US Vice President Mike Pence (L) speaks as US President Donald J. Trump (R) and other members of the White House Coronavirus Task Force listen during declaration a national emergency due to the COVID-19 coronavirus pandemic, in the Rose Garden of the White House, in Washington, DC, United States on March 13, 2020. Yasin Ozturk […]
Tag: Breaking News: Business
Not every bear market is accompanied by an economic recession, but chances are high
The end to the record-long bull market is now a reality. However, entering a bear market doesn’t always mean a recession is upon us, history shows. This week, the S&P 500 and the Dow Jones Industrial Average entered bear markets, ending their historic 11-year bull runs. A bear market marks a 20% decline from all-time highs. As a […]
Stitch Fix shares are tanking, biz could be near ‘saturation point’
Katrina Lake, founder and chief executive officer of Stitch Fix Inc. Patrick T. Fallon | Bloomberg | Getty Images Stitch Fix shares are cratering as Wall Street questions the longevity of a business that ships customers clothes on a fixed basis, using data science to curate outfits they might like. Its stock was last down […]
Oil a ‘bigger problem for markets than the coronavirus’ after OPEC deal collapse
A derek pumps in an oil field in Kuwait near the Saudi Arabian border. Joe Raedle | Getty Images Oil prices plunged last week as OPEC and its allies failed to reach an agreement on production cuts, and as prices look set to continue cratering, some are warning about the impact on the broader economy. “Crude […]
Investors brace for more volatility as wild swings become ‘new normal’
Traders work during the opening bell at the New York Stock Exchange (NYSE) on February 28, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images The S&P 500 has never behaved like this, but Wall Street strategists say get used to it. Investors just witnessed the equity benchmark swinging […]
What critics are saying about Pixar’s newest film
Tom Holland and Chris Pratt voice teenage elf brothers in Pixars’ “Onward.” The pair embark on a quest to spend one last day with their father, who died when they were too young to remember him. Disney Pixar has set a high standard for animated movies over the last 25 years, but its latest title […]
Gap names Old Navy chief Sonia Syngal as CEO
Sonia Syngal, president and chief executive officer of Old Navy Inc., speaks during the Fortune’s Most Powerful Women Summit in Washington, D.C., on Tuesday, Oct. 22, 2019. Sarah Silbiger | Bloomberg | Getty Images Gap Inc. has tapped its Old Navy chief Sonia Syngal to be CEO, effective March 23, the company announced Thursday afternoon. Its shares […]
Nordstrom (JWN) reports fourth quarter 2019 earnings miss
Rolls of gift paper hang on display at a Nordstrom Local concept store in New York, Sept. 5, 2019. Demetrius Freeman | Bloomberg | Getty Images Nordstrom shares tumbled Tuesday after the retailer announced it is changing its leadership structure, appointing Erik Nordstrom as sole CEO and retiring its co-presidency. It announced the changes as it […]
Dow futures down 200, traders search for the bottom
Traders work during the opening bell at the New York Stock Exchange on February 27, 2020. Johannes Eisele | AFP | Getty Images 8:28 am: 10-year yield could go to 0.75%, strategist says The U.S. Treasury 10-year yield could fall further into record-low territory and eventually reach 0.75%, stratetgist Komal Sri-Kumar said. “Usually, when the yield […]
Top economist Ed Hyman sees zero US growth next two quarters
Ed Hyman, a widely followed economist on Wall Street, said the coronavirus outbreak could end up causing a recession in the U.S. and slashed his U.S. GDP forecast to zero growth in the second and third quarters of this year “More cases are showing up in the U.S. and seem likely to be just the […]