A new poll shows Americans have a pessimistic view of the airline industry in lieu of the COVID-19 pandemic …read more […]
Yesterday was the Dow’s best gain since 1993.
The blue chips rallied 11.37% yesterday – representing the fifth biggest percentage gain in its entire history.
And today the rally continued.
So the obvious question you’re asking…
Is this the bottom?
Or more pointedly, is it time to buy, buy, buy?
Well, sorry to throw cold water in your face, but here’s the truth…
If you look at the top four Dow gains of all time, you’ll notice that all of them came during the Dow plunge of 1929 to 1932, which is the time frame that carried us into the Great Depression.
The next two biggest single-day gains …read more […]
Johnson & Johnson Chief Scientific Officer Dr. Paul Stoffels predicts the most vulnerable will begin to receive vaccines within 12 months to prevent COVID-19. …read more […]
The outbreak and attempted containment of COVID-19 has upended the global economy as people hunker down in their homes and wait it out.
The disruption to business is unlike anything we’ve experienced before. As a result, many companies will cut their dividends, as they simply won’t have much or even any revenue in the coming weeks.
For some companies, it will be very difficult to assess whether they will be able to afford their dividends in the near future. Management teams are still figuring out what the landscape will look like for their businesses.
In many cases, they need to conserve cash. In …read more […]
Stock futures were little changed Wednesday evening as investors waited for Congress to move forward with a massive stimulus package to ease economic fallout from the coronavirus outbreak. …read more […]
(Bloomberg) — Bill Ackman said he has invested a portion of his personal wealth to help manufacture antibody testing kits produced by Covaxx, a newly formed subsidiary of closely-held United Biomedical Inc., amid the outbreak of the coronavirus.Ackman has repeatedly called for a complete shutdown of the U.S. for 30-days to help combat the spread of the Covid-19 virus. He has also called for antibody testing, like the one Covaxx develops, across the country to determine who has been contracted the virus.“The key to a successful reopening beyond the maintenance of social distancing, hand washing, mask use and other related …read more […]
Medtronic Plc Chief Executive Officer Omar Ishrak told CNBC earlier in the day that the medical device maker has started working with Tesla, which is fast on track to start production of ventilators at Fremont. Governments across the globe have appealed to automakers and aerospace companies to help procure or make ventilators and other medical equipment. …read more […]
(Bloomberg) — As America heads into a deep recession, the $11 trillion residential-mortgage market is in crisis. Investors who buy home loans packaged into bonds are dumping even those with federal backing because of panic that millions might not make their payments. Yet one risky sector had started to show cracks long before the coronavirus pandemic sparked the worst financial meltdown in 12 years: the federal government’s largest affordable-housing program, whose lenient terms are geared toward marginal borrowers. As real estate prices soared in recent years, working-class adults everywhere have increasingly relied on mortgages backed by the Federal Housing Administration …read more […]
It’s clear that the world has changed due to COVID-19. We are in uncharted territory on so many levels.
Last Thursday, jobless claims shot up 33% from the prior week to 281,000. But that will likely be just the tip of the iceberg.
Goldman Sachs is predicting we’ll see 2.25 million jobless claims in this week’s report.
And some economists are predicting unemployment could hit 10% or more. We haven’t had that many people (about 16.5 million) out of work since the Great Recession.
The virus is also having a big impact on the oil sector. Last Wednesday, oil prices dropped to 18-year lows.
But …read more […]
The promise of a $2 trillion stimulus program was received with widespread relief across Wall Street, none more so than by investors of beleaguered airline Boeing (BA). BA stock jumped over 60% in the past 3 trading sessions. Yet, even following the surge, Boeing’s share price is down by 50% year-to-date. So, following months of the stock’s decline, is Boeing finally on the mend?Jefferies Sheila Kahyaoglu believes there are better days ahead for the A&D giant. The 5-star analyst maintains a Buy on Boeing, along with a price target of $185, which implies nearly nearly 16% upside from current levels. …read more […]
(Bloomberg) — Micron Technology Inc., the biggest U.S. maker of computer memory chips, predicted stronger-than-expected revenue in the current quarter, indicating orders from datacenter operators are helping make up for a demand shortfall from smartphone makers crushed by the effects of the coronavirus pandemic.Revenue will be $4.6 billion to $5.2 billion in the fiscal third quarter, which ends in May, Micron said Wednesday in a statement. Analysts had projected $4.88 billion, according to data compiled by Bloomberg. Adjusted earnings will be 55 cents a share, plus or minus 15 cents. Analysts estimated 52 cents a share on average.Micron is one …read more […]
As a $2 trillion relief package makes its way through the U.S. Congress, some investors are finding bargains in consumer discretionary stocks that have been battered in the wake of the coronavirus pandemic. Provisions in the bill aimed at expanding unemployment benefits and supporting industries hit hardest by the pandemic – and thus keeping consumers’ paychecks intact – would provide a boost to the sector, said Brian Jacobsen, a multi-asset strategist at Wells Fargo Asset Management. Nancy Tengler, chief investment officer of Laffer Tengler Investments, said her firm recently bought shares in Chipotle Mexican Grill Inc and off-price retailer TJX …read more […]
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