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Tag: Breaking News: Markets

IMF chief Georgieva says the world is in a recession, containment will dictate strength of recovery

IMF chief Georgieva says the world is in a recession, containment will dictate strength of recovery

Kristalina Georgieva, managing director of the International Monetary Fund (IMF), speaks in Washington, D.C., on Oct. 16, 2019. Andrew Harrer | Bloomberg | Getty Images This is a developing story. Check back for updates. International Monetary Fund chief Kristalina Georgieva said Friday that the global economy is now in a recession thanks to COVID-19, but […]

Stocks snap 3-day win streak, Dow down 700

Stocks snap 3-day win streak, Dow down 700

This is a live blog. Check back for updates. 10:47 am: Wall Street analysts upgrade stocks on hopes the market has bottomed Deutsche Bank upgraded Qualcomm to buy from hold. Bank of America downgraded JPMorgan to neutral from buy. Loop Capital upgraded Home Depot to buy from hold. JPMorgan upgraded Deere to neutral from underweight. Bank […]

Dow up 800, jobless claims top 3 million, stimulus bill to House

Dow up 800, jobless claims top 3 million, stimulus bill to House

This is a live blog. Please check back for updates. 10:55 am: Markets may weaken with future economic data, strategist says Matt Miskin, co-chief investment strategist at John Hancock Investment Management, said equity markets could struggle in future weeks as the economic data continues to worsen. “The economic data is likely to get worse before it […]

Dow rises, tries to build on historic 11% surge from a day before

Dow rises, tries to build on historic 11% surge from a day before

The Dow Jones Industrial Average rose on Wednesday following a historic rally in the previous session in anticipation of a coronavirus stimulus deal by Congress. The White House and Senate reached an agreement overnight. The 30-stock average climbed more than 400 points, or 2%. The S&P 500  was up by about 0.6%. The Nasdaq Composite dropped 0.3%, however. […]

Congress is closing in on a deal

Congress is closing in on a deal

Democrats and Republicans are closing in on a massive stimulus package to combat the economic impact of the coronavirus. In perhaps the biggest signal that an agreement was close, House Speaker Nancy Pelosi, D-Calif., told CNBC on Tuesday morning that there is “real optimism” Congress can clinch a pact within a few hours. Senate Majority Leader […]

Dow up 1,500, gold surging

Dow up 1,500, gold surging

All eyes are on Congress to pass a much-needed stimulus bill to rescue the economy from the coronavirus damage. The stock market is staging a turnaround with the Dow rebounding from its 2016 low. Here’s what’s happening: 10:52 am: Goldman says buy gold now: ‘Time to buy the currency of last resort’ Gold prices jumped more than […]

Dow down 300, Fed goes all-in, waiting on Congress

Dow down 300, Fed goes all-in, waiting on Congress

A trader works on the floor of the New York Stock Exchange in New York, the United States, March 18, 2020. Michael Nagle | Xinhua News Agency | Getty Images 10:45 am: Toy stock jumps after CEO says demand is strong Hasbro stock was soaring Monday morning after CEO Brian Goldner said the company was experiencing […]

Stocks can return to records early next year if the US can curb coronavirus spread, says JPMorgan

Stocks can return to records early next year if the US can curb coronavirus spread, says JPMorgan

Meric Greenbaum, Designated Market Maker IMC financial looks up at the board before the opening bell right before trading halted on the New York Stock Exchange on March 9, 2020 in New York. Timothy A. Clary | AFP | Getty Imgaes The S&P 500 could return to record highs by early next year if U.S. […]

Dow and S&P 500 pare gains, Amazon up 2.5%

Dow and S&P 500 pare gains, Amazon up 2.5%

Jeff Bezos, president and CEO of Amazon and owner of The Washington Post, speaks at the Economic Club of Washington DC’s “Milestone Celebration Dinner” in Washington, September 13, 2018. Joshua Roberts | Reuters 10:35 am: Wall Street’s fear gauge falls below 60 The Cboe Volatility Index, Wall Street’s preferred fear gauge, fell to its lowest level […]

Bank of America says the recession already here

Bank of America says the recession already here

Bank of America warned investors on Thursday that a coronavirus-induced recession is no longer avoidable — it’s already here. “We are officially declaring that the economy has fallen into a recession … joining the rest of the world, and it is a deep plunge,” Bank of America U.S. economist Michelle Meyer wrote in a note. “Jobs […]