Finance

Invesco’s Kristina Hooper warns the coronavirus is not the biggest threat to the market. She sees flaring U.S.-China trade tensions potentially doing the most harm to stocks. “The pandemic has largely been isolated and neutralized because of all the monetary policy support that the Fed has provided,” she told CNBC’s “Trading Nation” on Friday. “That
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Investors may want to brace for a tumultuous June. Federated Hermes’ Phil Orlando believes a “cleansing correction” could spark a 10% drop or more within weeks. “You’ve got some investors who are bearish by nature and got sucked into this 36% rally,” the firm’s chief equity market strategist told CNBC’s “Trading Nation” on Thursday. “If the
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Assistant store manager Jesus Alvarez rings up groceries from behind a new plexiglass barrier at Ralphs Kroger grocery store after California issued a stay-at-home order in an effort to prevent the spread of coronavirus disease (COVID-19), in Los Angeles. Lucy Nicholson | Reuters The U.S. small business relief program may be changed to allow borrowers
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It may be time to explore contrarian plays. Wells Fargo Securities’ Christopher Harvey is telling investors the best opportunities are in the hardest hit parts of the stock market. He believes the potential rewards outweigh the risks. “Start adding cyclicality. Start adding value. Start adding risk,” the firm’s head of equity strategy told CNBC’s “Trading
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Steven Mnuchin, U.S. Treasury secretary, speaks during a virtual Senate Banking Committee hearing seen on a laptop computer in Tiskilwa, Illinois, U.S., on Tuesday, May 19, 2020. Federal Reserve chairman Jerome Powell and Treasury Secretary Steven Mnuchin testified on the $2.2 trillion virus rescue package passed by the Congress in March. Photographer: Daniel Acker/Bloomberg via
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It may be premature to turn bullish. Despite Monday’s massive rally, Canaccord Genuity’s Tony Dwyer finds stocks haven’t broken out of the ‘”frustration” stage of the recovery. He breaks down the post-market crash environment into three phases: Panic, relief and frustration. “Once you crash, you go into a panic phase,” the firm’s chief market strategist
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Consumer spending plunged by a record 16.4% in April, but one category saw a bounce: nonstore retailers. Included in this category, which saw an 8.4% month-over-month increase, is online shopping. With much of the country under shelter-in-place orders during April, consumers increasingly turned towards e-commerce giants like Amazon for their shopping needs. As the pandemic
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An employee tends to marijuana plants at the Aurora Cannabis Inc. facility in Edmonton, Alberta, Canada, on Tuesday, March 6, 2018. Jason Franson | Bloomberg | Getty Images Check out the companies making headlines after the bell. Applied Materials — Shares of the manufacturing company climbed 4% in extended trading after Applied Materials reported second-quarter
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A store in Arlington, Virginia, remained temporarily closed on May 14, 2020. Another 3 million people filed initial unemployment claims last week on a seasonally adjusted basis, according to the Department of Labor. Olvier Douliery-AFP/Getty Images States paid a record $48 billion in unemployment benefits last month as the coronavirus pandemic caused millions of Americans
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Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, DC. Getty Images Another “big setback” in the U.S. economy could prompt the Federal Reserve to consider cutting interest rates into negative territory — but such a monetary policy wouldn’t be “very helpful,” a Goldman Sachs strategist said on Thursday. Fed Chairman Jerome Powell
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Offices of Cutera Inc. in Brisbane, Calif. Google Earth The largest public companies that tapped the government’s emergency relief fund for small businesses nearly all had ready access to other forms of capital, according to a CNBC analysis of filings. Even amid the upheaval caused by the coronavirus pandemic, these companies raised millions of dollars
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The historic consumer price drop in April may be more than a temporary setback. Michael Gapen, Barclays’ head of US economics research, warns widespread job losses due to the coronavirus pandemic is radically changing Americans’ spending habits. He suggests the damage will last years. “Whether this is a permanent shift will in part depend on
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Jin Lee | Bloomberg | Getty Images Check out the companies making headlines in midday trading.  GrubHub, Uber — Grubhub shares soared more than 27% on news that ride-hailing company Uber has approached the company with a takeover bid. Uber’s offer comes months after other outlets reported that food-delivery service Grubhub had hired advisors to explore strategic
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