Rep. Andy Biggs, (R-Ariz), discusses the measures being taken by the Trump administration to address the coronavirus outbreak and the risks posed by the disease to the American people.
He thinks the economy could begin to show signs of life in the fourth quarter of this year — but until that starts to show up somewhere in the markets or economic data, he prefers putting on trades that profit from extreme volatility and downside. Yahoo Finance highlights a call such as this because, well, McDonald has been dead right so far. Moreover, April has lived up to its billing in the early going as potentially lethal to stocks because of dreadful economic data nobody on Wall Street has ever seen before.
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.
Executive Summary: Two weeks ago we predicted that the U.S. death toll from COVID-19 would reach 20,000 by April 15th. Once the greatest country on the face of this planet, the United States is going hat in hand to China, begging for a few respirators and masks. Anthony Fauci and the CDC know that nearly half of the infected people show no symptoms and stealthily spread the new coronavirus, yet their hands are tied trying to tell the American people to wear masks because the few that we do have rightfully belong to our healthcare workers.
Investment bank Goldman Sachs has been analyzing the market performance, and has a mixed outlook for the year – not necessarily bad news for the long term, but an acknowledgement that we're not completely certain what the economic cycle has in store. David Kostin, Goldman Sachs' chief U.S. equity strategist, predicts that the market has not found its true bottom yet, and has to meet three conditions before it can. Kostin notes that the current peak-to-trough time, of just 23 trading days, is an order of magnitude faster than the median – which stands at 17 months.
Despite strong demand for basic foods like dairy products amid the coronavirus pandemic, the milk supply chain has seen a host of disruptions that are preventing dairy farmers from getting their products to market. Mass closures of restaurants and schools have forced a sudden shift from those wholesale food-service markets to retail grocery stores, creating logistical and packaging nightmares for plants processing milk, butter and cheese. Trucking companies that haul dairy products are scrambling to get enough drivers as some who fear the virus have stopped working.
Maryland Gov. Larry Hogan says that rescuers are searching for two missing boaters - the daughter and grandson of former Maryland Lt. Gov. Kathleen Kennedy Townsend - after their canoe was found in Chesapeake Bay. (April 3)
Newlands said that when times get tough, consumers turn to brands they trust, and Constellation has many of the brands that consumers prefer. He said there has been a sizable channel shift in recent weeks, as consumers switch from drinking at restaurants, which are now closed, to taking their beer and wine home. When asked about inventory levels, Newlands said they have about 70 days of inventory on hand, but in many parts of the country, alcohol is considered essential, so their factories continue to operate and distribution remains strong.
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.
Cohen also said his $16 billion firm has effectively managed risk so far this year with performance that is “essentially flat” despite the gutting market downturn. The note follows a conference call with President Trump last week that, according to Reuters, focused on the U.S. economy and the Federal Reserve. Dan Loeb of Third Point LLC, Stephen Schwarzman of Blackstone Group, Robert Smith of Vista Equity Partners, Paul Tudor Jones of Tudor Investment Corp and Ken Griffin of Citadel were also reportedly on the call.
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?
Communities around the world reeled Saturday as the economic damage and human cost of the COVID-19 pandemic climbed. More than 1.1 million people worldwide have been infected with the disease, the Wall Street Journal reported. On Wall Street, stocks closed sharply lower for the week on Friday after a report from the Labor Department confirmed 701,000 jobs had been lost in March, far more than expected and a sign that the economy was taking a bruising from the pandemic much earlier than was assumed.
Many Americans will get government checks up to $1,200 to help them financially weather job loss, reduced work hours, and other money challenges as the country tries to stem the spread of the coronavirus outbreak. When will the stimulus check arrive? Treasury Secretary Steven Mnuchin said at a White House briefing on Thursday, that those Americans who have signed up for direct deposit will receive their payment within two weeks.
With oil demand in freefall, traders are resorting like never before to using the world's fleet of supertankers as temporary floating storage facilities, filling them with millions of unsold barrels until better times. It's an unusual trade, but one that's among the most lucrative around right now, just when everyone on Wall Street struggles to make money. From the coast of Singapore to the North Sea, the tankers are starting to slow down, ready to drop their anchors, holding crude the world economy doesn't need as fuel demand plummets due to the coronavirus outbreak.
One of the few stocks that has benefited from the coronavirus pandemic is Zoom, although the stock is now under pressure due to privacy concerns. The shares climbed while most of the rest of the U.S. stock market plunged, but the news flow has shifted now. Zoom Video Communications Inc (NASDAQ: ZM) stock should not be confused with the stock for Zoom Technologies Inc., which trades under the ticker ZOOM on the over-the-counter market.
At times like this it must be a relief to have some of your retirement portfolio managed by Warren Buffett. Granted, Buffett and Berkshire Hathaway Vice Chairman Charlie Munger aren't the spring chickens they were during the dot-com crash or the global financial crisis, when they were spry youngsters in their 70s and early 80s. The company press office says Buffett is not planning to speak in public before May.
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.
Democratic presidential candidate Joe Biden says he hopes to speak with President Donald Trump to provide "some lessons" and suggestions dealing with health crises that he learned during his vice presidency in Obama administration. (April 2)
Investors say there's no one chart that will signal when the stock-market bottom is in. In a Friday blog post, the founder of Kimble Charting Solutions pointed to the chart above for the Thomson Reuters Equally Weighted Commodities Index, which he said “will go miles and miles towards telling us if we are headed towards very tough times or if the huge declines of late are actually in a bottoming process.” The index tracks a basket of 17 commodities, including cocoa, coffee, copper, corn, soybeans, cotton, crude oil, gold, heating oil, lean hogs, live cattle, natural gas, platinum, silver, soybean oil, sugar and wheat.
a href="https://www.marketwatch.com/story/20-technology-stocks-with-low-debt-to-consider-owning-in-a-down-market-2020-04-02? siteid=yhoof2" (FTNT) 2.2% -16% -6% 52% 12/31/2019 Computer Communications IPG Photonics Corp.
For example, the sudden need to stay at home to work will increase the demand for connectivity solutions. But these developments in the telecom sector are only one aspect of the increasingly connected world. Robert Siegel, lecturer in management at Stanford Graduate School of Business, thinks every industry will be affected by the proliferation of smart devices that can communicate with each other via the internet: “Some obvious ones include manufacturing, mobility, and healthcare.
OPEC and Russia have postponed a meeting planned for Monday until later next week, OPEC sources said on Saturday, as a row intensified between Moscow and Saudi Arabia over who is to blame for plunging oil prices. The meeting's delay came despite pressure from U.S. President Donald Trump for the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, to urgently stabilise global oil markets. OPEC+ is working on an unprecedented oil output curb equal to about 10% of world supply, or 10 million barrels per day, in what member states expect to be a global effort that will include the United States.
On CNBC's "The Exchange," Jamie Cox of Harris Financial Group and Charles Bobrinskoy of Ariel Investment spoke about stocks they like in the current market environment. Cox said he keeps asking himself when is he going to buy an integrated oil company, if not when there is an oil price war going, combined with a 30% or more demand destruction. He thinks now might be the right time to start buying a little bit of Exxon Mobil Corporation (NYSE: XOM) or Royal Dutch Shell plc ADR Class A (NYSE: RDS-A) and initiate a position in companies that are well capitalized and have plenty of interest coverage.
Mortgage rates have taken a tumble this week and are back at historically low levels, offering homeowners fresh opportunities to slash their monthly expenses as they cope with the economic turmoil caused by the coronavirus. Americans who refinance into cheaper mortgage rates might save hundreds of dollars per month, various experts say. If you spot an attractive mortgage rate that could offer you substantial savings, lock that rate while you have the chance.
In the week since, three top investors in the sector have engaged restructuring advisers, two others sold $7 billion of debt at a discount and publicly traded mortgage REITs in the U.S. lost more than $12 billion of market value, bringing total declines this year to at least $50 billion. Prominent asset managers including Blackstone Group Inc., TPG and Apollo Global Management Inc. have been sucked into the vortex wrought by the coronavirus pandemic, with their associated mortgage REITs losing more than two-thirds of their value on average so far in 2020.
On CNBC's "Fast Money," Guy Adami said he agrees with Goldman Sachs' upgrade on Twitter Inc (NYSE: TWTR) as the stock should benefit from increased traffic during the crisis. He is concerned about the ad spending, but he thinks that traders who want to play the market can buy some at the current price level. Dan Nathan sees Twitter as a valuable utility for the users, but the company is not growing sales at a rate one might expect for a growth company valued this way.