Money manager Bill Stone is betting on a sustainable market comeback. He’s putting new cash into stocks despite unknowns related to the coronavirus outbreak and this year’s presidential election. “Once we even got down 5%, got down 10%, we’ve continued to leg in more money for clients as we’re moving towards their long-term asset allocation
Month: March 2020
Wall Street Democrat Roger Altman told CNBC on Thursday that the stock market’s reaction to Joe Biden‘s resurgence in the Democratic presidential primary is because his chief rival, Sen. Bernie Sanders, is viewed as unelectable. “The greater the extent that Biden is seen as the Democratic nominee, I think investors will be comforted,” Altman said
Sam Zell, who made his fortune scooping up distressed assets, told CNBC on Thursday that he’s been taking advantage of the stock market’s volatility. The billionaire founder of Equity Group Investments said in a “Squawk Box” interview, “We’ve been buying some stuff that we thought was ridiculously low” in the recent coronavirus-driven sell-offs on Wall
People buy water, food and toilet paper at a store, as they begin to stockpile essentials from fear that supplies will be affected by the spread of the COVID-19, coronavirus, outbreak across the country, in Los Angeles, California on February 29, 2020. Mark Ralston | AFP | Getty Images Canned food is one thing. Cash
Seoul National University Hospital medical team exercise for COVID19 mild virus case before patient arrives at Seoul National University Hospital Mild Virus care center in Mungyeong, Northern Gyeongsang Province, South Korea, on March 4, 2020. Seung-il Ryu | NurPhoto | Getty Images Global cases: At least 93,000, according to the latest figures from the World Health
Eric Yuan, CEO, Zoom Video Communications Source: CNBC Shares of videoconferencing software company Zoom dropped as much as 10% and then pared back part of its losses in extended trading on Wednesday after the company reported earnings and guidance that exceeded analysts’ expectations. Zoom had been on a tear during the coronavirus outbreak, as companies
Klarna CEO Sebastian Siemiatkowski attends the launch of the online payment start-up’s pop-up store in London. Dave Benett | Getty Images for Klarna Ant Financial, the payment affiliate of Chinese e-commerce giant Alibaba, has invested in Swedish financial technology start-up Klarna as part of a global partnership between the two firms. Klarna said Wednesday that
A worker stands on the roof of a home under construction at a new housing development in San Rafael, California. Getty Images Stocks of the nation’s biggest homebuilders jumped after the surprise 50 basis point rate cut by the Federal Reserve. The homebuilders’ ETF (ITB) hit session highs in the morning, up nearly 2.3%, and
Recent market volatility may be bad news for your portfolio. The good news? Your tax bill. The recent market sell-off sent all three major equity indexes into the red over coronavirus fears. A strategy called tax-loss harvesting allows investors to use their biggest losers to reduce their taxes. This way, you deliberately incur losses in
Washington, D.C. — The Office of Attending Physician notified some congressional staff members on Wednesday of a possible coronavirus exposure that may have occurred among attendees at the recent AIPAC meeting in D.C. It could not be immediately determined how many received the email and the breadth of its distribution. “The Office of Attending Physician
Rolls of gift paper hang on display at a Nordstrom Local concept store in New York, Sept. 5, 2019. Demetrius Freeman | Bloomberg | Getty Images Nordstrom announced Tuesday it is changing its leadership structure, appointing Erik Nordstrom as sole CEO and retiring its co-presidency. It announced the changes as it reported fourth-quarter earnings and sales
American clothing and accessories retailer American Eagle store seen in Tokyo. (Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images) Budrul Chukrut | SOPA Images | Light Rocket | Getty Images Check out the companies making headlines after the bell. American Eagle Outfitters — The clothing retailer’s stock was up 5% in extended trading after the company
As the sustainable investing movement gains traction investors have increasingly shied away from traditional energy stocks. But ValueAct Capital’s Jeffrey Ubben believes that oil and gas companies that are working to clean up their operations can belong in portfolios focused on sustainable companies. The activist investor, who is the co-portfolio manager of the ValueAct Spring Fund,
Thomas Barwick The group that oversees certified financial planners is making it tougher for consumers looking for a new advisor to find out how a particular CFP gets paid. The CFP Board of Standards — a nonprofit that governs the CFP designation, held by 86,000 financial advisors in the U.S. — erased a part of its
This is a live blog. Please check back for updates. All times below are in Eastern time. Global cases: At least 93,400, according to data compiled by Johns Hopkins University. Global deaths: At least 3,190, according to data compiled by Johns Hopkins University. US cases: At least 108, according to the CDC. US deaths: At least 9, according
Larry Culp, CEO, General Electric Scott Mlyn | CNBC General Electric on Wednesday reiterated its 2020 cash and profit targets but warned its first-quarter cash flow would take a hit of $300 million to $500 million due to the coronavirus outbreak. Shares of GE, which employs thousands of workers in China and had been seen
Former Vice President Joe Biden, 2020 Democratic presidential candidate, smiles during an primary night rally in the Baldwin Hills neighborhood of Los Angeles, California, U.S., on Tuesday, March 3, 2020. Patrick T. Fallon | Bloomberg | Getty Images Stocks came back in a big way Wednesday, with many Wall Street firms attributing the relief rally
Hermes Birkin bags Mehdi Fedouach | AFP | Getty Images The artist Jean-Michel Basquiat has nothing on the Birkin bag. Handbags were a far better investment last year than art, according to according to a new report. While art had an overall return of 5% in 2019, handbags clocked in a 13% gain, making it
Trader on the floor of the New York Stock Exchange. Lucas Jackson | Reuters The market’s swift decline from record highs sparked by the coronavirus outbreak has left investors wondering when the bleeding will stop. On Feb. 19, the S&P 500 hit an all-time high. Just a week later, the broad market average traded in
Nuthawut Somsuk With the stock market tumbling amid the coronavirus outbreak, you might be worried about meeting your financial goals. And if you had hoped to tap a 529 college savings plan for an upcoming tuition bill for your child or grandchild, well, you might be really worried. Those state-sponsored investment plans allow parents to save money