Traders work on the floor at the New York Stock Exchange October 31, 2019. Brendan McDermid | Reuters This is a live blog. Check back for updates. 10:32 am: Battered hotel stocks on the rise Some of the hotel and casino stocks, which have taken the hardest hits from the coronavirus, were in the green Thursday. […]
Tag: Breaking News: Markets
Mnuchin vows to prevent 20% unemployment in coronavirus response
U.S. Treasury Secretary Steven Mnuchin speaks to the press outside of the West Wing of the White House on March 13, 2020 in Washington, DC. Drew Angerer | Getty Images Treasury Secretary Steven Mnuchin told CNBC on Wednesday that the U.S. will not have 20% unemployment – a figure he reportedly warned Republican senators about […]
Dow tanks 1,000, S&P 500 down 5%, virus cases jump
Trader Thomas Lee works on the floor of the New York Stock Exchange, Monday, Aug. 5, 2019. Richard Drew | AP This is a live blog. Please check back for updates. 10:35 am: Walmart jumps 5%, gets an upgrade from Credit Suisse While the broader market moves lower, shares of Walmart are up more than […]
Regulators considering relaxing bank rules during coronavirus crisis
Joseph Otting, comptroller of the U.S. currency. Andrew Harrer | Bloomberg | Getty Images Federal regulators are considering relaxing liquidity rules on banks to reduce financial pressure on them stemming from the coronavirus pandemic, sources said Tuesday. The Office of the Comptroller of the Currency, which regulates banks and federal savings associations, is considering relaxing its […]
Stocks swing wildly as Wall Street struggles for direction after Dow’s third-worst day ever
Stocks swung wildly Tuesday as Wall Street struggled to to recover from its worst day in more than 30 years despite signs of potential further stimulus and progress on a possible treatment for the coronavirus. The S&P 500 was up 1.7% after briefly trading lower on the day. The Nasdaq Composite gained 1.2%. It was also down earlier in […]
Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program
The Federal Reserve, saying “the coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” cut interest rates to essentially zero on Sunday and launched a massive $700 billion quantitative easing program to shelter the economy from the effects of the virus. The new fed funds rate, used as […]
Stocks tank 10%, Dow off 30% from record
This is a live blog. Here’s the latest. 10:17 am: Stocks fall deeper into bear market territory The Dow and S&P 500 entered a bear market last week, putting an end to the historic bull run that began in the throes of the financial crisis. Monday’s steep losses have sent the major averages further below […]
Traders await futures open after Fed cuts rates, launches easing program
Stock futures plunged Sunday night even after the Federal Reserve embarked on a massive monetary stimulus campaign to curb slower economic growth amid the coronavirus outbreak. Stock market futures hit “limit down” levels of 5% lower, a move made by the CME futures exchange to reduce panic in markets. No prices can trade below that […]
Coronavirus and market volatility shuts down the IPO market for potential listings like Airbnb
Investors likely won’t get their fix for newly public companies for a long time thanks to the financial turmoil caused by the spreading coronavirus. Logistics issues aside for investment bankers unable to travel, market volatility like this scares off companies who want to raise capital. The initial public offering calendar is looking sparse this year, […]
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 […]