Nouriel Roubini, Professor of Economics at NYU Stern, joins Yahoo Finance's On The Move panel to discuss how the coronavirus outbreak is impacting the markets and what investors should expect in the coming weeks.
Dow Jones futures will be watched closely once again on Sunday, along with S&P 500 futures and Nasdaq futures, Coronavirus cases and deaths continue to soar, but daily increases are slowing in some countries and New York. Technically, it's a coronavirus stock market rally, but Thursday's follow-through day and Friday's retreat didn't offer much confidence. Microsoft, Amazon.com, Nvidia and Advanced Micro Devices have been turned back from their 50-day moving averages.
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...
After dozens of companies suspended or cut their dividends in recent weeks amid the coronavirus-driven business slowdown, some analysts believe dozens more are vulnerable across a variety of sectors. Take banks: After suspending stock buybacks in mid-March, eight big U.S. financial firms, including (BAC) (ticker: BAC) and (JPM) (JPM), appeared as though they could emerge from the coronavirus crisis with their dividends intact. After European and U.K. banks suspended their dividends on regulators' urging, however, investors began sell U.S. bank shares amid concerns that a similar request could be made by federal regulators.
The new coronavirus outbreak and economic measures to contain it could have a significantly negative impact on retirement preparations for millions of Americans. Account balances have been depleted by the stock market collapse. The government has introduced several temporary changes that could help people shore up their finances and manage their retirement accounts more effectively.
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.
For years, many Gold Bugs (investors who've been advocating buying Gold and Silver at low prices as a hedge against future global economic risks) were shunned as conspiracy theorists and nuts. How could these people believe Gold and Silver were solid investments when the Global equities markets were rallying 5% a year consistently – what could go wrong? Over the past two weeks, I have personally received multiple phone calls and emails from friends and associates asking how these people can suddenly “buy physical metals”.
Financial pain for U.S. households triggered by the coronavirus pandemic is starting to show, according to a new survey. The survey, by Freedom Debt Relief, looked at how 2,335 Americans between the ages of 18 and 74 were dealing with their finances between March 25 to 27, which was after the national emergency was declared. “Overall, Americans are reporting rapid and unprecedented levels of change in their financial situations since the COVID-19 pandemic arose in the United States,” Freedom Debt Relief President Sean Fox told Yahoo Finance.
a href="https://www.marketwatch.com/investing/stock/ftnt" (FTNT) 2.2% -16% -6% 52% 12/31/2019 Computer Communications IPG Photonics Corp.
Warren Buffett's Berkshire Hathaway has sold off millions of shares of Delta Air Lines and Southwest Airlines over the past few days, regulatory filings showed on Friday. That sent Delta stock, Southwest stock and other airline stocks lower after hours. Delta stock was down 9% in the stock market Friday.
Saudi Arabia, Russia and other large oil producers are racing to negotiate a deal to stem the historic price crash as diplomats said some progress was made on Sunday. The talks still face significant obstacles: a meeting of producers from OPEC+ and beyond -- delayed once -- is only tentatively scheduled for Thursday. Russia and Saudi Arabia want the U.S. to join in, but U.S. President Donald Trump has so far shown little willingness to do so.
Hedge-fund manager Dan Niles, in a note cited by Yahoo Finance this week, warned his clients way back in February that he was getting “increasingly worried” investors weren't ready for the impact the spread of the coronavirus could have on the U.S. economy. While the Dow Jones Industrial Average (DJIA)posted its worst first quarter ever, his Satori Fund closed in positive territory.
President Trump warned on Saturday that the coming days will be some of the worst for the coronavirus outbreak. Modeling shows New York, Detroit and New Orleans will hit the peak of their outbreaks in the next week. Photo: Bryan Smith/Zuma Press
Luckin Coffee on Sunday apologised and pledged to strengthen controls after an internal investigation found hundreds of millions of dollars of alleged fake sales last year, wiping about 75 per cent off the company's market value. Lu Zhengyao, the company's chairman, said on social media that he was “ashamed” and “accepted all questions and criticisms”, while promising to do his best to recover the losses. Mr Lu backed the start-up in 2017 as it aimed to take on Starbucks in China and remains one of its largest shareholders.
Using recent actions and grades from TheStreet's Quant Ratings and layering on technical analysis of the charts of those stocks, Trifecta Stocks identifies five names each week that look bearish. While we will not be weighing in with fundamental analysis we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Zillow Group Inc. recently was downgraded to Sell with a D+ rating by TheStreet's Quant Ratings.
Billionaire investor Warren Buffett's Berkshire Hathaway sold about 18% of its stake in Delta Air Lines Inc. DAL) for $314 million as the U.S. airline operator said it expects revenues to plunge 90% in the second quarter. Berkshire sold about 13 million Delta shares on Wednesday and Thursday priced between $22.96 and $26.04, according to SEC filings.
Based on a new report from the Labor Department, the U.S. economy saw 701,000 jobs erased in March, much more than economists originally expected as the figure doesn't even include the 10 million unemployment filings that occurred after March 14. In addition, New York Governor Andrew Cuomo announced on Friday that the state had experienced the biggest jump in COVID-19-related deaths the day before, sending the market plummeting even further. According to some Wall Street pros, these new technologies represent a possible inflection point in the war against COVID-19, and could even help drive the stock market's recovery.
Mortgage rates fell for a 2nd consecutive week in the week ending 2nd April, with the downside attributed to lenders lowering rates as application backlogs slid. Mortgage rates had been on the rise in mid-March due to a surge in demand stemming from a COVID-19 driven slide in mortgage rates. Lenders had had to increase rates to deter applications as backlogs continued to rise and capacity issues hitting processing times.
a href="https://www.marketwatch.com/story/these-60-large-us-companies-are-susceptible-to-a-dividend-cut-according-to-jefferies-2020-03-31? siteid=yhoof2" (GIS) 3.62% 1.49 177.3% Evergy Inc.
Jim Rogers has been sounding the bear alarm for a while, and now that the market finally seems to be cooperating, the Rogers Holdings chairman is turning up the volume. I expect in the next couple of years we're going to have the worst bear market in my lifetime,” he told Bloomberg in the wake of the worst first-quarter loss in the Dow's history. Why so glum?
Top Stock Trades for Monday No. Advanced Micro Devices (AMD) Advanced Micro Devices (NASDAQ:AMD) was trading great on the long side when the market was rebounding higher. In all, AMD stock has actually been trading pretty well amid the novel coronavirus pullback.
For example, we sympathize with anyone who was caught holding Chesapeake Energy Corporation (NYSE:CHK) during the five years that saw its share price drop a whopping 99%. Shareholders have had an even rougher run lately, with the share price down 81% in the last 90 days. Given that Chesapeake Energy didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development.
How might Amazon.com, Inc. NASDAQ: AMZN), Home Depot Inc (NYSE: HD) and many others fare? Can Johnson & Johnson (NYSE: JNJ) or Procter & Gamble Co (NYSE: PG) weather the coronavirus crisis with payouts intact, if not higher?
Luckin Coffee Inc said on Sunday it will maintain normal operations at its stores and apologised to the public, days after it announced an internal investigation had shown its chief operating officer and other employees fabricated sales deals. Shares of Luckin, which competes in China with Starbucks Corp, sank as much as 81% on Thursday in New York after it said the investigation had found that fabricated sales from the second quarter of 2019 to the fourth were about 2.2 billion yuan ($310 million). "Regarding the suspected financial fraud and the extremely bad impact it has caused, Luckin Coffee hereby sincerely apologizes to the public," the company said in a post on its official Weibo account.
Canadian investment bank RBC has been taking the temperature of institutional investors, and the results are fascinating – and, perhaps, illuminating. The analysts start by pointing out the obvious, “We view capitulation as a necessary, though not sufficient, condition for stock market bottoms in major drawdowns,” but go on to note that a “surprisingly high level of bullishness supports our own view that we haven't yet seen investor capitulation.” Today's market climate of heightened risk, should naturally draw investors toward dividend stocks.
COVID-19 cases are on the rise and have yet to show signs of stabilization in the U.S. As of Sunday morning, there were 1.216 million confirmed cases globally and 65,711 confirmed deaths, according to Johns Hopkins University data. According to RBC's March 2020 Equity Investor Survey, investors said outlook surrounding the coronavirus is critical. With market volatility largely expected to continue for the time being, RBC's survey found that 57% of investors believe the market will bottom in the second quarter of 2020.