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 […]
Tag: Wall Street
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 […]
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 […]
Market turmoil sparked by coronavirus is worse than 2008: James Bianco
Market researcher James Bianco calls the Federal Reserve’s move to pump $1.5 trillion into the market the “nuclear option” to calm investors gripped by coronavirus fears. Only, it didn’t work Thursday. Instead, stocks saw their worst day since the 1987 Black Monday market crash. “Financial markets are not recovering. It’s incredible to think that a […]
JPMorgan Chase orders up to half NY metro employees to work from home
People pass a sign for JPMorgan Chase at it’s headquarters in Manhattan, New York City. Spencer Platt | Getty Images JPMorgan Chase on Thursday told managers to implement a plan to have employees based in offices in Manhattan, Brooklyn and Jersey City to start working from home beginning on Friday. “We are asking our managers […]
Citi’s Corbat says ‘this is not a financial crisis’ in Trump meeting
Michael Corbat, CEO, Citigroup, speaking at the World Economic Forum in Davos, Switzerland, January 21, 2020. Adam Galica | CNBC Citigroup CEO Michael Corbat said Wednesday that the current turmoil caused by the coronavirus isn’t stemming from the financial system. “This is not a financial crisis,” Corbat said during a White House meeting. “The banks […]
Dow plunges 850 points as Wall Street’s wild trading streak continues
Stocks plummeted on Wednesday in another volatile session as Wall Street worried about a possible fiscal stimulus package aimed at curbing slower economic growth due to the coronavirus outbreak. The Dow Jones Industrial Average traded 850 points lower, or more than 3%. The S&P 500 slid 3% while the Nasdaq Composite dropped 2.7%. Those losses […]
