Mar.20 -- Jeff Richards, managing partner of GGV Capital, speaks to Bloomberg's Emily Chang about how the coronavirus is impacting venture capital in Silicon Valley. He appears on "Bloomberg Technology."
The world's ultrarich are probably not the first financial victims your thoughts go out to as the coronavirus wreaks havoc on the global economy. China's mercurial stock markets help explain this group of outliers. “China has been the relative winner, with its stock markets weathering the virus better than its U.S. and European counterparts,” said Rupert Hoogewerf, Hurun Report chairman and chief researcher.
Average 401(k) Balance by Age Here are the average 401(k) balance by age range as of the second quarter of 2019, according to data released by Fidelity Investments. Ages 20-29 The average 401(k) balance was $11,800 The median 401(k) balance was $4,300 The average contribution rate was 7% of compensation Ages 30-39 The average 401(k) balance was $42,400 The median 401(k) balance was $16,500 The average contribution rate was 7.8% of compensation Ages 40-49 The average 401(k) balance was $102,700 The median 401(k) balance was $36,000 The average contribution rate was 8.5% of compensation Ages 50-59 The average 401(k) balance was $174,100 The median 401(k) balance was $60,900 The average contrib...
The recent rallies on the Dow (^DJI) and S&P 500 (^GSPC) have some investors wondering if the worst of the market declines amid the COVID-19 pandemic are over. The Dow, which rose more than 1100 points on Monday, is trading around 20% above its' 52-week intraday low from March. The S&P 500 is up around 16% from its' March 23rd low.
There is a widespread view on Wall Street that the stock market hit its lowest level of the bear market last month, and that a combination of an ebbing of the coronavirus in late spring and unprecedented fiscal and monetary stimulus will set the stage for a sharp rebound in corporate profits later this year. What's particularly troubling to Matejka is that the current recession has been triggered by a shock to the consumer — which makes up 70% of GDP in Western economies — as workers around the globe are prevented from earning a living by the closures of nonessential business. This dynamic has led J.P. Morgan economists to predict “only a gradual bottoming out in activity, such as seen after the Great Financial Crisis, and not a V-shaped one that we see, for example, after natural disasters.”
A career as a physician, whether you're a primary care doctor or a specialist, is a noble calling. Doctors adhere to the Hippocratic Oath, which stems from Greek medical history, and calls for physicians to swear to uphold the highest ethical standards in the service of medicine. It depends on what skills a good doctor brings to the table.
Investing in a company that pays you no matter how the market performs sounds like exactly what investors need right now, and recent market volatility means that many dividend aristocrats are cheaper than they've been in years. Here are 10 cheap dividend aristocrats to buy -- each one is well-positioned to survive a recession while paying you a healthy dividend. If you're looking for defensive stocks to protect your portfolio, why not turn to the defense industry?
Warren Buffett's company Berkshire Hathaway sold off millions of dollars in shares from airline companies Delta Air Lines and Southwest Airlines, after the coronavirus pandemic slammed the airline industry. Yahoo Finance's On The Move panel breaks down the latest.
Chinese coffee chain super-brand Luckin Coffee has been in the spotlight the past week after the company revealed in an SEC filing that it has undertaken an internal investigation into an alleged $300 million fraud on the part of its former COO. The stock is down another 15% today as investors continue to comprehend the company's disclosure and its positioning in the competitive Chinese coffee market, where the company displaced Starbucks as the retail and delivery leader in just a few short years. On Monday, Goldman Sachs Group Inc. said a group of lenders is putting 76.3 million of Luckin's American depositary shares up for sale, after an entity controlled by Luckin Chairman Charles Zhengyao Lu defaulted on the terms of a $518 million margin loan.
Oil prices rebounded Tuesday on fresh hopes an OPEC-led meeting this week will reach an agreement to reduce oversupply and shore up the market. Prices have fallen sharply since expectations for a quick deal to cut output levels were dashed, but the rescheduling to Thursday of a meeting of major crude producers boosted sentiment. US benchmark West Texas Intermediate was up 3.83 percent to $27.08 a barrel in Asian morning trade.
The Dow Jones futures were sharply lower in Tuesday morning's trading session, along with S&P 500 futures and Nasdaq futures, giving back a small part of Monday's big coronavirus stock market surge. Top stocks to watch include Dow Jones leaders Apple and Microsoft, FANG stocks Amazon, Facebook and Netflix and Monday's breakout stock Vertex Pharmaceuticals. Dow Jones Futures Today Late Monday, Dow Jones futures traded 0.8% lower vs. fair value, while S&P 500 futures fell 0.7%.
If you're looking for gains in airline stocks, stick with high-quality companies, such as Delta and United, and avoid those with vulnerable balance sheets and operations—namely American and Spirit. Those views come from J.P. Morgan analyst Jamie Baker, who issued a number of ratings changes and price-target cuts in a note published Monday. Baker downgraded (AAL)(ticker: AAL) and (SAVE) (SAVE) from Overweight to Underweight.
A borrower can ask the SBA to forgive the loan and the interest if workers are not laid off. While community banks account for the majority of the 1,900 lenders that have processed PPP applications, interest from big banks customers are setting new records. Steve Jones, chief executive officer of Dogwood State Bank, one of North Carolina's newest community banks, said the bank has processed about 300 applications since Friday totaling about $80 million for an average of about $267,000 per borrower.
It was the deal that sounded like an April Fools' joke: bond investors falling over themselves to give a cruise ship company a boat load of money. Carnival printed the secured bonds as part of a wider $6.25bn rescue financing on April 1. Coronavirus has killed passengers on several of Carnival's cruise ships — incidents that have put the term “floating Petri dishes” firmly in the popular lexicon.
Some of the best tech stocks to buy or watch now include three stocks in the software sector — Atlassian, DocuSign and Adobe — as well as China e-commerce leader Alibaba and top biotech stock Vertex Pharmaceuticals. The common bond among all five stocks? Bullish relative strength lines and high Composite Ratings from IBD.
Prime Minister Justin Trudeau said Saturday that Canada won't bring retaliatory or punitive measures against the United States after the Trump administration announced it would prevent the export of N95 protective masks.
Robert Kiyosaki, the best-selling author of “Rich Dad, Poor Dad,” offered this bit of advice to his 1.3 million followers on Twitter (TWTR)for when that cash finally arrives: Yes, instead of stashing away your check, Kiyosaki says load up on bitcoin (BTCUSD) , gold (GC00)and silver (SI00)in the face of the dying dollar (DXY) . Depends on how much you make This has been a theme on Kiyosaki's social channels for awhile and has taken on an added urgency as the coronavirus pandemic continues to weigh heavily on the stock market: And here's a recent episode on his YouTube channel that's racked up more than half a million views: Gold's been a relatively great place to be over the past three months...
Carnival Corp. stealthily filed its first quarter earnings on Friday, giving insight into a company on its knees as it faces an unprecedented crisis, and disclosing a long list of risk factors to its business going forward. The world's largest cruise company — which has found itself at the epicenter of the Covid-19 crisis with incidents across its fleet — paused sailings on Mar. 13 after both the U.S. State Department and the Centers for Disease Control advised against cruising. The company's share price has been down 80 percent since the beginning of the year.
China's Ucar Inc, in which Luckin Coffee Chairman Charles Zhengyao Lu is the biggest shareholder, suspended trading of its shares on Tuesday after regulators questioned the car service provider about how the alleged fraud at Luckin would impact it. Ucar, in which Lu is chairman and CEO, said in a statement late on Monday that the company applied to halt trading in its shares to avoid abnormal price fluctuations and protect investor interest amid media reports on the company. Chinese media reports have linked the firm with Luckin, which said last week an internal investigation revealed sales fabrication of about 2.2 billion yuan ($310.80 million).
Jamie Dimon said the coronavirus pandemic will lead to a major economic downturn and stress mirroring the meltdown that nearly brought down the U.S. financial system in 2008. “At a minimum, we assume that it will include a bad recession combined with some kind of financial stress similar to the global financial crisis of 2008,” the chief executive officer of JPMorgan Chase & Co. said Monday in his annual letter to shareholders. At the time, the outbreak still seemed a distant threat, with fewer than 60 cases in the U.S. and none in New York.
Disney's business has evolved over the past five to seven years to the point where it's now heavily diversified, Bapis said. Most recently, the launch of the Disney+ streaming platform gives the company a new direct to consumer business and media distribution strategy. The company's theme parks unit "will hurt" in the near-term due to the coronavirus (COVID-19) pandemic and some level for pain could linger on for up to two years, he said.
While there still isn't a drug treatment available on the market for COVID-19, hospitalized patients with moderate to severe symptoms can now turn to an investigational drug being tested in clinical trials nationwide, with several happening right here in the Bay Area. The clinical trials to find out if Gilead's remdesivir is a safe and effective treatment for COVID-19 have recently begun recruiting patients. The drug had previously failed in a clinical trial against the Ebola virus.
Traders seeking to store oil have put their plans on hold this week after prompt Brent crude futures surged against future months and made storage uneconomical, despite overwhelming supplies in the market, industry sources said on Tuesday. Front-month Brent crude prices have jumped since Friday on expectations that Saudi Arabia and Russia may strike a deal to cut output and support prices. That has created a growing disconnect with physical markets where traders are struggling with unsold supplies from previous months after the coronavirus pandemic destroyed demand.
Dow Jones futures jumped Monday morning, along with S&P 500 futures and Nasdaq futures as new coronavirus cases slowed in the U.S., Europe and worldwide. Technically, it's a coronavirus stock market rally, but Thursday's follow-through day and Friday's retreat didn't offer much confidence. Apple has fallen below its 200-day moving average.
Adding to the complications, about 6% of U.S. adults — or 12 about 12 million Americans — do not have a checking, savings, or other bank account, according to a 2018 Federal Reserve report. The New York Times, citing IRS guidelines that detail how Americans who aren't usually required to file tax returns will need to do so to receive payments, noted the guidance "will almost certainly mean longer waits for those who must file new returns to be eligible to receive a stimulus payment." Americans with the lowest income will get mailed checks first, according to reporting by the Washington Post.
The businessman is offering potential lenders an interest rate of at least 15% to participate in a new $250 million loan for his Golden Nugget casinos and hundreds of restaurants under the Landry's Inc. umbrella that have been ravaged by the coronavirus, according to people with knowledge of the matter. The loan, which matures in October 2023 and is being arranged by Jefferies Financial Group Inc., is one of many levers Fertitta is pulling to shore up liquidity. The pandemic has brought the travel and leisure industry to a near standstill, leaving Fertitta's businesses shuttered and burning cash while tens of thousands of his employees have been furloughed.