SPY Mar 2020 343.000 put

OPR - OPR Delayed Price. Currency in USD
10.60
0.00 (0.00%)
At close: 3:54PM EST
Stock chart is not supported by your current browser
Previous Close10.60
Open10.60
Bid112.86
Ask114.45
Strike343.00
Expire Date2020-03-25
Day's Range10.60 - 10.60
Contract RangeN/A
Volume5
Open InterestN/A
  • GuruFocus.com

    GMO Commentary: Fear and the Psychology of Bear Markets

    White paper by James Montier Continue reading...

  • GuruFocus.com

    GMO Commentary: Shelter in Credit

    White paper by Jon Roiter, co-portfolio manager of the Credit Opportunities Strategy Continue reading...

  • GuruFocus.com

    Brandes Investment Partners Commentary: Global Banks Update

    The global banking industry has faced a difficult operating backdrop for the last decade Continue reading...

  • What To Know About #MintTheCoin
    Benzinga

    What To Know About #MintTheCoin

    In an effort to curb the economic damage already done by the coronavirus, U.S. Rep. Rashida Tlaib (D-Michigan) has proposed a $2-trillion solution -- and awakened a 2013 hashtag in the process. The MintTheCoin campaign is trending as idled workers demand a complex response to unemployment triggered by the pandemic. Tlaib's Proposal The Automatic BOOST to Communities Act would equip everyone under U.S. authority -- children, non-citizens, U.S. territory residents and Americans living abroad -- with a debit card initially loaded with $2,000. Each month, the cards would be reloaded with $1,000 until one year after the coronavirus outbreak ends. The program would be funded by the U.S. Treasury, which would direct the Mint to print two $1-trillion platinum coins under Congressional authority. The Federal Reserve would then purchase the coins in exchange for credit of $2 trillion in reserves, and the Treasury would offer the reserve funds to the Bureau of the Fiscal Service. The Bureau would then disperse the money with debit cards.This complex mechanism would prevent the government from having to raise its debt ceiling."In the long term, the card infrastructure should be converted into a permanent, Treasury administered digital public currency wallet system, to serve as a privacy-respecting 'eCash' complement to universal Fed Accounts and/or Postal Bank Accounts for All," Tlaib's bill said."This proposal should be accompanied by progressive tax reform to ensure that emergency relief provisioning does not exacerbate income or wealth inequality in the long-term."Congressional peers have since proposed tweaks to Tlaib's bill, including digital distribution.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.The Campaign Tlaib resuscitated an old hashtag for her proposal campaign.> Let's pass the ABCAct MintTheCoin and get these debit cards to everyone. Stop messing around with people's lives.> > -- Rashida Tlaib (@RashidaTlaib) March 25, 2020Back in 2013, Rep. Jerry Nadler (D-New York) proposed a similar plan to get around the national debt ceiling and prevent the U.S. from defaulting on its debt. Nadler introduced a bill to mint a $1-trillion platinum coin.At that time, critics said the expansion of money supply would cause sharp inflation and worsen a downturn. Congress ultimately rejected the proposal and instead raised the debt ceiling.This time around, the campaign still has its critics.> The MintTheCoin geniuses basically want to double the monetary base overnight. And they also have no idea what doubling the monetary base means.> > What could go wrong, right> > So so sick. Someone please stop this mayhem> > -- Quoth the Raven (@QTRResearch) March 22, 2020But it has also picked up public support.> This is leadership and compassion. MintTheCoin https://t.co/JWZnNds5k2> > -- David Buettner (@badivad) March 22, 2020> Canada is now giving all citizens $2,000/month for four months. America can and should also. Make UniversalUBI first on your list. MintTheCoin @SpeakerPelosi @SenSchumer @BernieSanders @RashidaTlaib @AOC> > --U.S. Rep Rashida Tlaib. Benzinga file photo by Dustin Blitchok.See more from Benzinga * Powell Expects Atypical Downturn As Liquidity, Credit Dries Up, But Says 'Nothing Fundamentally Wrong With Our Economy' * 4 'Doomsday' Predictions For The Coronavirus Market * Mark Cuban Calls COVID-19 Outbreak The 'Ultimate Definition' Of A Black Swan Event(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • 3-Day Winning Streak Gives Way to Harsher Realities
    Zacks

    3-Day Winning Streak Gives Way to Harsher Realities

    While a $2 trillion stimulus package would certainly go a long way toward getting the U.S. economy "unstuck," it???s unclear yet whether this would be enough to prime the pump to move industries back into positions of strength.

  • 10 Facts You Must Know About Recessions
    Kiplinger

    10 Facts You Must Know About Recessions

    A recession is the scariest creature in the average investor's closet of anxieties. Even though the last recession ended more than a decade ago, people fear recessions because they can mean lower home prices, lower stock prices - and no job.Any number of things can cause, or exacerbate, a recession: an exogenous shock, such as today's COVID-19 crisis (which now has even Federal Reserve chairman Jerome Powell admitting that we might currently be in a recession) or the Arab oil embargo of 1973; soaring interest rates; or ill-conceived legislation, such as the Smoot-Hawley Tariff Act of 1930.Recessions are parts of the warp and woof of a dynamic economy, albeit unpleasant ones. If you're prepared for a recession, there will be plenty of opportunities when the recession ends. Thus, the more you know about recessions, the better. Here are 10 must-know facts about recessions. SEE ALSO: Where Is the Stock Market Headed? 14 Wall Street Pros Sound Off

  • Trump Lashes Out At Washington, Michigan Governors For Pandemic Response: 'We Don't Like To See The Complaints'
    Benzinga

    Trump Lashes Out At Washington, Michigan Governors For Pandemic Response: 'We Don't Like To See The Complaints'

    President Donald Trump on Thursday criticized governors of Washington and Michigan for what he said were unhelpful responses to the novel coronavirus (COVID-19) pandemic.Inslee, 'A Failed Presidential Candidate'Trump told Fox News in a telephonic interview that Washington Governor Jay Inslee is "always complaining.""People like Governor Inslee, he should be doing more, he should be relying on the federal government...he was a failed presidential candidate, and he is always complaining," the president said."We've really had some trouble with the state of Washington," Trump noted, pointing out the lack of success of Inslee's 2020 presidential campaign.In a closed call between governors and the president earlier in the day, Inslee had asked Trump to take more actions at the federal level to increase medical supplies for the state, according to the Washington Post.When the President said that the federal government is more of a "backup" in this situation, Inslee is reported to have replied, "[we] don't need a backup. We need a Tom Brady."Whitmer 'Not Stepping Up Trump further went on to criticize Michigan governor Gretchen Whitmer."She is not stepping up, I don't know if she knows what is going on," the president said. "[All] she does is sit there and blame the federal government...and we send her a lot [of funding]."Trump noted that Whitmer had asked the federal government for a major disaster declaration. "We'll have to make a decision on that.""Michigan is a very important state, I love the people of Michigan...I am bringing back many, many car factories into Michigan and she is a new governor, and it's not been pleasant," he added.Whitmer later responded to Trump's comments on Twitter."I've asked repeatedly and respectfully for help. We need it. No more political attacks, just PPEs, ventilators, N95 masks, test kits," the governor said. "You said you stand with Michigan -- prove it."Why It Matters The United States is now the world's worst coronavirus-hit country at press time, according to data from Johns Hopkins University.At least 85,505 COVID-19 cases have been confirmed in the country, ahead of China's 71,782, where the curve of the spread has flattened in recent weeks.There have been widespread concerns about the lack of medical equipment in dealing with the pandemic, and the states have looked to the federal government for aid.About $100 billion of the $2 trillion coronavirus relief package has been assigned to boost healthcare, but if COVID-19 spreads further, it is unlikely to be enough.A number of companies, including Apple Inc. (NASDAQ: AAPL) and Tesla Inc. (NASDAQ: TSLA), have stepped up to the task of making medical necessities like masks and ventilators.Photo Credit: Gage Skidmore via Wikimedia.See more from Benzinga * Senate Passes T Coronavirus Stimulus Package After Nearly A Week Of Tough Negotiations * T Coronavirus Stimulus To Pass Senate As Lawmakers, White House Reach Agreement * Biden Secures Michigan, Three Other States In Democratic Race; Sanders Leads North Dakota, Washington(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Barron’s: Fund Managers Dan Wiener and Jim Lowell Thrive in This Market
    InvestorPlace

    Barron’s: Fund Managers Dan Wiener and Jim Lowell Thrive in This Market

    You've no doubt been following the day-to-day movements in individual equities. Panic selling hit the market hard, and individual investors are seeing a lot of red these days. But what's happening in the fund world? According to InvestorPlace analysts Dan Wiener and Jim Lowell in a feature by Barron's, now is the time for active managers to shine and steer their clients through the storm.Source: InvestorPlace That's exactly what the duo is doing, both at their money-management firm and through their mutual fund newsletters: Independent Adviser for Vanguard Investors, Fidelity Investor and Fidelity Sector Investor.But what does this mean for you, if you're not a fund manager yourself? Well, it's important to see how the best guys in the business are running things.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWiener and Lowell aren't too shy to admit that the coronavirus from China has brought about "extraordinary times" in the market. And as a result of that, it's not irrational for investors to react in fear. * 10 Stocks to Buy That Will Benefit From Coronavirus Mayhem However, Wiener and Lowell are adamant that now is not the time to panic and cash out. In fact, instead of panicking, now is the time to take the plunge. Buy the Manager, Not the FundSo you want to take the plunge, but now what? In the Barron's article, Wiener and Lowell recommend that individual investors should "buy the manager, not the fund." Doing your own research on managers will give you the long-term confidence to stick out market downturns like this one. How did a certain manager perform in 2008-09? What about in prior recessions?This advice isn't coming from just anyone. Wiener and Lowell's model portfolios "have outperformed over the long haul," according to Barron's, so their evaluations of other managers matter. And right now they are looking for market outperformance, solid track records across multiple portfolios and a manager's history in bull and bear markets.And if you want some recommendations, you're in luck. Wiener singles out Primecap Management. Yes, some of the firm's most notorious funds are closed to new investors. But Primecap's Odyssey offerings -- the Odyssey Stock Fund (MUTF:POSKX), Odyssey Growth Fund (MUTF:POGRX) and Odyssey Aggressive Growth Fund (MUTF:POAGX) -- all make the grade.Lowell adds Fidelity Total Bond (MUTF:FTBFX) and Bailie Gifford Long Term Global Growth (MUTF:BSGLX) and Vanguard Dividend Growth (MUTF:VDIGX), among others, to the list.These funds -- and their excellent managers -- are all good starting points. But look to Wiener and Lowell for advice, clear-headed money management and consistent outperformance. In times of panic, they know what to do.Daniel P. Wiener is a journalist at heart, as well as the leading "watchdog" to The Vanguard Group, America's top mutual-fund provider. But he left the financial media behind to provide what investors REALLY need -- clear, expert advice on Vanguard's Best & Worst Funds. Dan may own the aforementioned securities. James Lowell was once a senior financial reporter at Fidelity Investments; today, Jim is the leading independent expert on his favorite fund family -- and its best managers. Thanks to his proprietary Manager Ranking System, Jim easily narrowed the field to Fidelity's 5 Best & Finest Funds … plus the 3 worst funds! Jim may own the aforementioned securities. More From InvestorPlace * America's Richest ZIP Code Holds Wealth Gap Secret * 10 Stocks to Buy That Will Benefit From Coronavirus Mayhem * 5 Bank Stocks to Buy Now Because This Isn't 2008 Again * 12 Stocks to Buy That Are Already Positive The post Barron's: Fund Managers Dan Wiener and Jim Lowell Thrive in This Market appeared first on InvestorPlace.

  • 10 Worst Ways To Use Your $1,200 Stimulus Check
    Benzinga

    10 Worst Ways To Use Your $1,200 Stimulus Check

    It's looking increasingly likely that many Americans will be getting at least one stimulus check from the government in coming weeks worth up to $1,200 per adult.We compiled a list of 10 of the best things to do with your $1,200 stimulus check, but just for fun (and education) we decided to put together a list of 10 of the worst things to do with that check.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.1\. Gambling Yes, technically you can turn that $1,200 into $2,400 with one spin of the roulette wheel, but the odds aren't in your favor. Plus, good luck finding a casino that is open.2\. Buying Penny Stocks Sure, some traders make a killing trading in penny stocks, but penny stocks often have limited liquidity, limited regulation and limited information for investors, making them extremely dangerous investments. In fact, your odds of success may be much better at the casino.3\. Attempting To Time The Market Bottom There are plenty of buying opportunities out there for long-term investors, but going all-in on trying to time the stock market bottom in the short-term is unwise. Even the most experienced and advanced professional traders have difficulty predicting where a volatile stock market is heading in the short-term, and there are still too many unknowns about the economic impact of the coronavirus for traders to have near-term visibility.4\. Buying Collectibles Some collectibles, like fine art, antiques and rare coins, do appreciate in value over time. But your beanie babies, baseball cards and Dwayne "The Rock" Johnson memorabilia collection likely will not.5\. Buying A New Car If you have the chance to buy a new car for $1,200, you are likely getting a great deal. But if you are using that $1,200 as part of a down payment for a new car, understand that the car likely loses way more than $1,200 in value as soon as you drive it off the lot.6\. Trip To Italy The Italian countryside is beautiful and the culture is rich with history. But now is not the time.7\. Buying Your Own Company's Stock It can be very tempting to buy shares of your own employer's stock because you have an intimate understanding of the day-to-day business of that company. However, unless you work in accounting or are an upper-level executive, employees of public companies typically don't have a unique understanding of the financial health of a company.8\. Buying Any Single Company's Stock There will likely be plenty of big winners in the stock market five or 10 years down the line, but putting all your eggs in one basket is never a good idea. Investing in stocks is a great way to use that $1,200, but diversify that investment as much as possible to limit risk.9\. Investing In Something Complicated If anyone tries to get you to invest in something that you don't understand, it is likely a terrible investment. Buzzwords like "derivatives," "collateralized," and "blockchain" may sound impressive, but con artists intentionally make things convoluted to cover their tracks.10\. Shopping On Amazon If you have steady income, no debt and enough savings to cover at least two months of expenses, feel free to hammer that Amazon.com, Inc. (NASDAQ: AMZN) "buy now" button as much as you like.But these government checks are intended to make sure Americans are financially prepared to make it through this horrible crisis. If you're using it to treat yourself on Amazon rather than getting your personal finances in order for a potential layoff or extended health crisis, it is one of the worst ways to use your $1,200.See more from Benzinga * 10 Best Ways To Use Your ,200 Stimulus Check * What Does It Mean That The Stock Market Is A Leading Economic Indicator? * The 2008 Playbook Suggests We Haven't Seen The Market Bottom Yet(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Investopedia

    Has the Market Bottomed Out?

    Bottom callers are coming out of their caves after the Dow Jones Industrial Average posted its biggest one-day gain since 1933.

  • Powell Expects Atypical Downturn As Liquidity, Credit Dries Up, But Says 'Nothing Fundamentally Wrong With Our Economy'
    Benzinga

    Powell Expects Atypical Downturn As Liquidity, Credit Dries Up, But Says 'Nothing Fundamentally Wrong With Our Economy'

    Spooked by the coronavirus, investors worldwide have transferred their money to low-risk investments."That's understandable," Jerome Powell, chairman of the Federal Reserve, said Thursday on The Today Show. "But what that's meant is that many places in the capital markets, which support borrowing by households, businesses -- I'm talking about mortgages and car loans and things like that -- have just stopped working."Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Liquidity constraints are limiting access to credit, and the circumstances are exacerbating economic conditions that aren't totally unlike a recession."We may well be in a recession, but I would point to the difference between this and a normal recession," Powell cautioned. "There's nothing fundamentally wrong with our economy. Quite the contrary. The economy has performed very well right through February. We've got 50-year lows in unemployment. So we start in that position. This isn't something that's wrong with the economy. This is a situation where people are being asked to step back from economic activity."They're being asked to close their businesses, to work remotely, to stop their mall trips. It's not a typical catalyst for economic downturn. Partly for that reason, Powell expressed confidence that controlling the virus will trigger recovery."You may well see significant rises in unemployment, significant declines in economic activity, but there can also be a good rebound on the other side of that," he said.When, exactly, that rebound comes is uncertain. "The virus is going to dictate the timetable here," he said. The strength of that rebound is also in question."We don't have comparable experiences to go back and look at," Powell noted. "We know that economic activity will decline probably substantially in the second quarter, but I think many expect, and I would expect, economic activity to resume and move back up in the second half the year."See Also: New US Jobless Claims Hit Record 3.28M As Coronavirus Strikes EconomyWhat Can The Fed Do?The Federal Reserve is trying to create conditions for a "vigorous" revival by keeping interest rates low and leaning into its emergency lending authority. Across the market, where credit has dried up, it can temporarily fill the gap by issuing loans and guaranteeing households, businesses and local governments access to credit."We're providing relief, we're providing stability, we're trying to create a bridge from our very strong economy to another place of economic strength," Powell said. "That's what our lending really does."He expects the Fed to continue "aggressively" lending -- limited only by the cushion it's given by the Treasury Department."We're required to get full security for our loans so we don't lose money, so the Treasury puts up money as we estimate what the losses might be," he said. "...It's not a blank check in that we are limited by the ability to take losses, but I would say that effectively $1 of loss absorption of backstop from Treasury is enough to support $10 worth of loans.""When it comes to this lending, we're not going to run out of ammunition. That doesn't happen."In the end, the Fed can only do so much to assure economic recovery, and its role is more forward-looking. Powell points to legislative efforts -- the trillion stimulus package passed late Wednesday -- for more immediate economic relief.See Also: Bernanke On How Coronavirus Differs From The 2008 Economic CrisisWhen Should The Country Reopen?President Donald Trump has made clear his interest in jump-starting the economy, regardless of the status of the virus. But Powell defers to epidemiologists on the best timeline to address the health crisis."I think the sooner we get the spread of the virus under control, people will regain confidence," he said. "When that is the case, they will very willingly open their businesses up, go back to work, the consumer will be spending. So I think the first order of business will be to get the virus under control, and then resume economic activity."See more from Benzinga * 4 'Doomsday' Predictions For The Coronavirus Market * Mark Cuban Calls COVID-19 Outbreak The 'Ultimate Definition' Of A Black Swan Event(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • New US Jobless Claims Hit Record 3.28M As Coronavirus Strikes Economy
    Benzinga

    New US Jobless Claims Hit Record 3.28M As Coronavirus Strikes Economy

    Initial jobless claims in the week ending March 20 reached 3.283 million, the Bureau of Labor Statistics said Thursday. The number is more than triple the estimate of 1 million new claims. The prior week's figure was 281,000. The number reported Thursday far exceeds the prior initial jobless claims record of 695,000 in 1982, Bloomberg reported. U.S. continuing claims for March 13 were at 1.803 million. The prior reading was revised from an initial 1.701 million to 1.702 million.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.The spread of the coronavirus means more than 1 million Americans are forecast to have filed for unemployment benefits last week, according to The Wall Street Journal.On Tuesday, Treasury Secretary Steven Mnuchin warned in a meeting with Republican senators that the U.S. unemployment rate could reach 20% if fiscal action is not taken immediately.The Senate approved a $2-trillion stimulus package late Wednesday after five days of negotiations between Democrats and Republicans. The bill next goes to to the House of Representatives for consideration. Related Links:US Adds 225K Jobs In January, Labor Participation Rate RisesUS Adds 75,000 Jobs In May, Far Below EstimatesSee more from Benzinga * Oil Claws Its Way Back Up, Analyst Projects Startling Q2 Surplus * IRS Tax Deadline Extended To July 15, Mnuchin Says * Oil Prices Fall To 17-Year Low, OPEC And IEA Warn Of 'Major Consequences' For Developing Countries(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • U.S. jobless claims skyrocket to 3.283 million
    Yahoo Finance

    U.S. jobless claims skyrocket to 3.283 million

    Initial jobless claims skyrocketed last week as the U.S. economy feels the pain of the COVID-19 pandemic.

  • Senate Passes $2T Coronavirus Stimulus Package After Nearly A Week Of Tough Negotiations
    Benzinga

    Senate Passes $2T Coronavirus Stimulus Package After Nearly A Week Of Tough Negotiations

    The United States Senate approved to the novel coronavirus (COVID-19) stimulus package late Wednesday after five days of tough negotiations between Democratic and Republican members.What Happened The senators voted 96-0 in favor of the "Coronavirus Aid, Relief, and Economic Security Act," or "CARES Act."The bill provides for measures including giving $1,200 in direct payments to a majority of individual Americans, and $500 to children.$500 billion has been assigned to the treasury department to be granted in loan and loan guarantees to corporations severely impacted by the pandemic. Another $350 billion would be set aside for loans to small businesses, which are struggling to keep their payroll.$250 billion would be dedicated to provide relief for unemployed workers, and $100 billion has been assigned for boosting healthcare."96-0 in the United States Senate. Congratulations AMERICA!," President Donald Trump tweeted after the Senate passed the bill.Why It Matters Negotiations over the specifics of the bill were taking place since last weekend. Democrats disagreed with what they said was a priority given to corporations over ordinary workers in the legislation.They also argued over the authority given to Treasury Secretary Steven Mnuchin over the $500 billion fund assigned for corporation loans, without any provision for "oversight."Members from both factions suggested progress in negotiations early Wednesday, but the bill hit another roadblock later with Republican objecting to the additional payment of $600 a week assigned to unemployed workers.Vermont senator and 2020 presidential candidate Bernie Sanders told the New York Times that he wouldn't sign the bill if the Republicans didn't withdraw their objection, which they later did.What's Next The legislation will next go to the House of Representatives on Friday, which will conduct a voice vote.The House is currently out of session, and the move would ensure that the representatives can vote without needing to be physically present in the chamber.President Donald Trump has said that he would "immediately" sign the bill once it gets to his table.At least 69,171 COVID-19 cases have been confirmed in the U.S. at press time, and 1,050 people have died, according to data from Johns Hopkins University.See more from Benzinga * T Coronavirus Stimulus To Pass Senate As Lawmakers, White House Reach Agreement * Biden Secures Michigan, Three Other States In Democratic Race; Sanders Leads North Dakota, Washington * CDC Identifies First Coronavirus Case In US Of Unknown Origin That Might Suggest Community Spread(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Cobas Funds Commentary: Don't Panic, It's Time to Reflect
    GuruFocus.com

    Cobas Funds Commentary: Don't Panic, It's Time to Reflect

    By Rocio Recio Continue reading...

  • GuruFocus.com

    Causeway Capital Commentary: Apocalypse Now? Buy High-Quality Cyclicals

    'The coronavirus selloff of 2020 has been particularly unforgiving for companies directly impacted by the virus and the coincident fall in consumer spending' Continue reading...

  • GuruFocus.com

    Ray Dalio Commentary: The 3 Biggest Questions We Need to Answer Now

    From the Bridgewater founder's LinkedIn blog Continue reading...

  • Ray Dalio Commentary: The Changing World Order
    GuruFocus.com

    Ray Dalio Commentary: The Changing World Order

    From the Bridewater founder's LinkedIn blog Continue reading...

  • Bernanke On How Coronavirus Differs From The 2008 Economic Crisis
    Benzinga

    Bernanke On How Coronavirus Differs From The 2008 Economic Crisis

    The 2008 financial crisis was the result of the collapse of the financial system but the coronavirus could have the opposite impact of trickling its way towards the financial system, according to former Fed Chairman Ben Bernanke.Different Type of Financial Crisis The 2008 crisis started with the implosion of subprime mortgages and the loss of confidence in the financial system, Bernanke said Wednesday on CNBC. When credit "broke down" the damage at banks made its way to the economy.But the coronavirus is forcing a shutdown of the economy and implies banks that lend to companies that are on pause or closing down are taking losses.Fortunately, Bernanke said the banking system as a whole was in a much better position of strength compared to 2007 so it could "stand up under the strain" and become a positive force in returning to normalcy.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Unemployment Federal Reserve Bank of St. Louis President Jim Bullard told CNBC prior to Bernanke's interview he expects the unemployment rate to soar to 30% by the second or third quarter, only to return back to around 4% by the end of next year. Bernanke said this scenario is "possible" if there's a "very sharp and short recession."The notion of a "snap-back" in the economy depends on the course of the virus itself, which dictates how long the economy will remain in shutdown mode. Over this period, the economy needs to at the very least remain "functioning" and businesses need access to funding to survive the storm and re-open in the future.Monetary Policy Monetary policies coming from central banks are certainly "part of the mix" in this type of crisis, he said. The U.S. Federal Reserve slashed interest rates close to zero and is overseeing a new quantitative easing program. But monetary policy isn't meant to encourage people to go out and buy items so the Fed is tapping its lending power capabilities.However, no policy or set of policies can work unless the public health issue is resolved first, he said."If we can get that straight, then we know how to get the economy working again," Bernanke said. "Monetary and fiscal policy can do their thing and we won't have anything like the extended downturn we saw even in the Great Recession much less the Great Depression of the '30s.See more from Benzinga * BTIG's Emanuel Says Stocks Risk 1987's 40% Downside Scenario If Senate Doesn't Act * El-Erian Says Our Economic Situation Has Reached 'Critical Mass' * UBS Americas CIO Lays Out The S&P 500's Best-Case Scenario(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • New York Tracks Peak Contagion, Durable Goods +1.2%
    Zacks

    New York Tracks Peak Contagion, Durable Goods +1.2%

    Currently, more than 26K New Yorkers have tested positive for COVID-19, and the state now counts more than 270 fatalities due to the disease.

  • The futility of forming any forecast: Morning Brief
    Yahoo Finance

    The futility of forming any forecast: Morning Brief

    Top news and what to watch in the markets on Wednesday, March 25, 2020.

  • $2T Coronavirus Stimulus To Pass Senate As Lawmakers, White House Reach Agreement
    Benzinga

    $2T Coronavirus Stimulus To Pass Senate As Lawmakers, White House Reach Agreement

    Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.The United States senators and White House officials reached an agreement on the $2 trillion novel coronavirus (COVID-19) stimulus package early Wednesday, the Washington Post reported.What Happened "At last we have a deal," McConnell Senate Majority Leader Mitch McConnell told the Senate, according to the Post."After days of intense discussion, the Senate has reached a bipartisan agreement on a historic relief package for this pandemic."Minority Leader Chuck Schumer added that "[we're] going to take up and pass this package to care for those who are now caring for us, and help carry millions of Americans through these dark economic times."The stimulus has provisions for providing $500 billion in loans and loan guarantees to businesses affected by the COVID-19 outbreak through the treasury department.An additional $367 billion is dedicated to ensuring small businesses can continue to keep paying their employees. It also intends to provide $1,200 in direct payments to adult citizens and $500 to minors, in one of the largest capital infusions in U.S. history.National Economic Council Director Larry Kudlow, adding that another $4 trillion through lending power for the Federal Reserve is included in the COVID-19 package, said that it would be the "single largest main street assistance program in the history of the U.S."What's Next The Post noted that the House could pass the bill unanimously since both political parties have reached a consensus. If even a single representative objects, the situation gets tricky, as a regular roll-call vote would be required, but the House is currently out of session.Treasury Secretary Steven Mnuchin said President Donald Trump would "absolutely, absolutely, absolutely" sign the legislation once it has received the nod from both chambers of the Congress.The legislation hit a roadblock when Democrats earlier objected to what they said was a priority given to corporations over average American workers in the legislation.The Democrats also disagreed with the $500 billion assigned to the Treasury Department for bailing out businesses affected by the pandemic.Price Action Futures contracts traded higher early Wednesday following the surge in regular session earlier on anticipation over the legislation.Dow Jones futures traded 1.29% higher at 20,873. Nasdaq 100 futures were up 7.5 points at 7,562.25. S&P 500 futures added 0.47% at 2,449.50.See more from Benzinga * Biden Secures Michigan, Three Other States In Democratic Race; Sanders Leads North Dakota, Washington * CDC Identifies First Coronavirus Case In US Of Unknown Origin That Might Suggest Community Spread * South Carolina Debate: Democrats Target Sanders, Bloomberg And Warren Go At Each Other Again, Biden Sure Of Win(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Where Is the Stock Market Headed Now? 14 Wall Street Pros Sound Off
    Kiplinger

    Where Is the Stock Market Headed Now? 14 Wall Street Pros Sound Off

    Getting a handle on the stock market's direction is becoming increasingly difficult as volatility has ratcheted up and daily moves of 5% or more have become commonplace. The S&P; 500 has already lost a third of its of its value from its Feb. 19, 2020, peak, and some (though not all) analysts see even lower prices ahead.Economists and market strategists are predicting that the 2020 bear market could descend as low as 60% losses as the economic fallout from the coronavirus outbreak begins to look very, very real. Small business owners are being forced to close up shop en masse. Many U.S. manufacturers, including the "Big Three" automakers, have halted production at their North American facilities. Airlines, cruise operators and hotel owners have seen their businesses rapidly dry up. Crude oil prices are in a deep bear market.Meanwhile, European and U.S. stimulus packages designed to back businesses and consumers alike have barely moved the needle. But those governments - and many more across the world - still are preparing even more measures to throw at the coronavirus effort.So where does the stock market go from here? Here's what 14 Wall Street investment bankers, analysts and financial advisors had to say about what's coming for America's stocks, the economy and corporate earnings. SEE ALSO: 25 Dividend Stocks the Analysts Love the Most

  • 3 ETFs That Are Outperforming the S&P 500
    GuruFocus.com

    3 ETFs That Are Outperforming the S&P 500

    These exchange-traded funds have proven to be resilient to recent declines Continue reading...

  • Oil Claws Its Way Back Up, Analyst Projects Startling Q2 Surplus
    Benzinga

    Oil Claws Its Way Back Up, Analyst Projects Startling Q2 Surplus

    The price of oil clawed its way back up Tuesday: the WTI oil price gained 3% to settle around $24 per barrel.Volatility is expected to continue as the coronavirus outbreak and slowdown in business add pressure to oil prices.On Monday, Russian oil minister Alexander Novak was in discussions with Russian oil producers to see whether they think Russia should reignite discussions with OPEC on deeper cuts, Bjarne Schieldrop, chief commodities analyst at SEB, said in a note.The fall in oil prices and further panic in the markets has been squeezing U.S. shale companies."U.S. shale oil production growth fueled by debt has been a major problem for both OPEC and Russia since the 2014/15 price collapse and the strong U.S. shale oil production rebound since 2016," Schieldrop said. The analyst questioned why Russia and OPEC would move in and save U.S. shale oil producers.That factor was why the Russian oil producers decided they did not want to cut deeper in the second quarter of 2020, because it would mostly help U.S. shale oil players rather than Russian oil producers, Schieldrop said. Oil Surplus Forecast In Q2 The market facing a tsunami of oil surplus in April, the analyst said."We are now looking at surplus in Q2 2020 at a scale that we have never seen before. It is not difficult to imagine that with no flights, people soon sitting at home and the industry close to shut down that demand could fall even more."Related Links:Oil Prices Fall To 17-Year Low, OPEC And IEA Warn Of 'Major Consequences' For Developing CountriesOil Prices Rebound, Analyst Says Market Faces Tsunami Of SurplusSee more from Benzinga * IRS Tax Deadline Extended To July 15, Mnuchin Says * Oil Prices Rebound, Analyst Says Market Faces Tsunami Of Surplus * Oil Prices Fall To 17-Year Low, OPEC And IEA Warn Of 'Major Consequences' For Developing Countries(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.