Asian stocks were set to rise on Friday amid investor optimism about the re-opening of the U.S. economy from coronavirus lockdowns and possibly more stimulus that could fuel a recovery.
The We Company, owner of WeWork, said on Thursday that for the first time quarterly revenue surpassed $1 billion and free cash flow increased 60% sequentially, but the money-losing shared office operator did not mention profitability in an email to employees that was reviewed by Reuters.
Stocks recovered earlier losses and pushed into positive territory Thursday afternoon.
Earlier in the session, the Dow had been off as many as 458 points after the Labor Department’s weekly report on new jobless claims showed another 2.981 million individuals filed for first-time unemployment benefits last week, or more than had been expected. The 30-stock index was up nearly 200 points around 1:30 p.m. ET and was on track to close higher for the first time in four sessions. …read more […]
When Wall Street bigwigs say the market is overvalued — it’s time to “follow the smart money”, says Matt Maley, chief market strategist at Miller Tabak.
On Wednesday billionaire investor David Tepper said this was the second most overvalued market he’d seen outside of the 1999 bubble. The day before, hedge fund manager Stan Druckenmiller sounded the alarm on stock valuations.
“In Wall Street, it’s smart to follow the smart money…when you have so many of them who’ve made their billions doing this, it makes be a little bit more cautious,” said Maley told Yahoo Finance’s The First Trade. …read more […]
The We Company, owner of WeWork, said its first-quarter free cash outflow grew 60% sequentially, according to an email the company’s chief financial officer sent to employees on Thursday and reviewed by Reuters.
“As we reopen stores, we see positive things happening,” CEO William Dillard said. …read more […]
Nike Inc said on Thursday store closures across the globe will hurt its retail and wholesales businesses in the fourth quarter, even as it ramps up its e-commerce capabilities to address increased online orders amid the COVID-19 pandemic.
We tuned in to a live meeting with one of our state senators last night. He’s a good man. He spent 30 years fighting for the nation as a soldier. He’s been to battle. He’s helped liberate nations. And he’s lived his life according to a strong set of values.
But now he’s fighting a different war. And this time he doesn’t have the luxury of bullets and bombs. He has words and an ever-twisted set of laws.
It’s a fierce battle. The enemy isn’t outnumbered. And it’s not outgunned.
It has equal access to the same elements of destruction.
That’s the thing with …read more […]
Over the past 10 years, a battle has been raging on Wall Street. But not between stock pickers… between humans and computers.
Today, Nicholas Vardy explains why we humans will never be able to beat quant trading systems, but we can certainly join them!
Editor’s Note: In the battle of humans versus computers, we all know who wins, right? And it turns out computers aren’t just great at beating us at chess and Jeopardy… They also beat us at investing.
Luckily, Nicholas Vardy has discovered how to harness the power of data and algorithms to create a brand-new trading system. Read on to …read more […]
It’s a whole new world out there…
I never thought we’d see a global pandemic of this scale. And for a while, I couldn’t see the light either.
But it’s the circle of life. Stocks rise and fall. Markets crash and are reborn.
And sometimes – amid all the panic – investors are able to pick up super-cheap shares of iconic, trailblazing companies…
Like The Walt Disney Company (NYSE: DIS).
And today, I’m going to explain why I think the House of Mouse is still a “Buy.”
Into the Unknown
I’ve learned a lot of valuable lessons since I started investing.
An important one is “Be prepared.”
So when …read more […]
U.S. President Donald Trump signaled a further deterioration of his relationship with China over the novel coronavirus, saying he has no interest in speaking to President Xi Jinping right now and going so far as to suggest he could even cut ties with the world’s second largest economy.
The novel coronavirus crisis continues to pummel the U.S. labor market, with the number of Americans filing for unemployment benefits falling less than expected last week, suggesting a second wave of layoffs in industries and jobs not initially impacted by business closures caused by the pandemic.
General Motors Co’s self-driving car unit Cruise told staff on Thursday it has decided to lay off workers, the latest start-up in the nascent industry to cut jobs during the coronavirus pandemic.
Nike Inc said on Thursday store closures in North America will hurt its retail and wholesales businesses in the fourth quarter.
Applied Materials released its second quarter earnings report after hours on Thursday, missing investors’ expectations on both top and bottom lines. The company offered no guidance for its third quarter, but did acknowledge that the demand for its equipment and services remained ‘robust.’ Yahoo Finance’s Myles Udland breaks down the company’s earnings report on The Final Round. …read more […]
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