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Coronavirus Update: Global Cases Top Eight Million, Fed's Bond-Buying Plan

  • Coronavirus Update: Global Cases Top Eight Million, Fed's Bond-Buying Plan Coronavirus Update: Global Cases Top Eight Million, Fed's Bond-Buying Plan 2:26
    Coronavirus Update: U.S. Cases Top Two Million, Stocks Drop on Fed Plans Coronavirus Update: U.S. Cases Top Two Million, Stocks Drop on Fed Plans 2:16
    Powell: 'We're Not Even Thinking About Thinking About Raising Rates' Powell: 'We're Not Even Thinking About Thinking About Raising Rates' 1:19
    An American Crisis Deepens An American Crisis Deepens 10:36
1:53 a.m. Today - By Mark DeCambre
Is the stock market closed Friday? For July 4th, here’s everything investors need to know about trading hours and closures The Fourth of July holiday will be observed on Friday this year, for U.S. marketsIndependence Day falls on Saturday this year, meaning that U.S. financial markets will be closed on Friday.
1:02 a.m. Today - By Spencer Tierney
How to save money in tough times: 6 do’s and don’ts You might have to redefine what is ‘unnecessary.’You may benefit from these saving strategies now or later in life.
8:53 p.m. July 1, 2020 - By Elisabeth Buchwald
The extra $600 Americans receive in unemployment benefits ends this month — here’s what else is on the table The Trump administration and leading Republicans say extending these benefits would be akin to paying Americans not to workThe Trump administration and leading Republicans say extending these benefits would be akin to paying Americans not to work.
1:00 p.m. July 1, 2020 - By MarketWatch
After months of speculation, investors get excited about Pfizer, BioNTech’s coronavirus vaccine candidateThe path to a COVID-19 vaccine has started to come into view this week, following the stock-moving disclosures of preliminary clinical data for two candidates and a rigorous new regulatory road map from the Food and Drug Administration.
12:54 p.m. July 1, 2020 - Barrons.com
Nasdaq Hits New High, But Dow Closes Down Slightly Pfizer announced positive trial results from a coronavirus vaccine, while investors weighed figures from ADP that offered a look at the job market ahead of government data due Thursday.
12:45 p.m. July 1, 2020 - By Andrea Riquier
The coronavirus crisis is costing states and locals hundreds of billions, analysis finds State and local budget cuts aren’t an abstraction to most Americans: libraries will close, class sizes will go up, potholes won’t get filled, and forget improvements or expansionThe economic pain facing state and local governments resulting from the coronavirus pandemic is disconnected from the improving outlook on the national front. A new analysis from a Cleveland Federal Reserve researcher quantifies that hit.
12:40 p.m. July 1, 2020 - By Sunny Oh
10-year Treasury yield books biggest daily rise in two weeks after Fed minutes U.S. Treasury yields rose Wednesday as minutes from the Federal Reserve’s meeting in June showed the central bank discussing the merits of yield curve control, a monetary policy tried by some other central banks.
12:38 p.m. July 1, 2020 - By Rex Nutting
Fed warns stock market of a second recession if the coronavirus pandemic isn’t brought under control Before this latest spike in cases, some Fed officials saw ‘a substantial likelihood of additional waves’The Federal Reserve is a lot more worried about the economy than the stock market or the president are.
12:11 p.m. July 1, 2020 - By Sunny Oh
JP Morgan joins the list of Wall Street banks calling for the demise of 60/40 portfolio, despite its success this year Strategists say a traditional 60/40 portfolio will deliver annual returns of 3.5% over the next decade, compared with 10% over the past few decadesIn a year where a classic 60/40 allocation has showed its value, JP Morgan is joining the line of Wall Street banks that are calling the demise of the traditional portfolio.
12:09 p.m. July 1, 2020 - By Mark DeCambre
Nasdaq notches record close to start July after Fed minutes, but Dow slumps as Boeing, Exxon shares weigh The Nasdaq Composite on Wednesday closed at a record high to kick off July but the Dow industrials lagged behind, after minutes from the Federal Reserve's meeting last month indicated that policy makers would aim to provide more explicit guidance on the outlook for benchmark interest rates amid the coronavirus pandemic. Improving data on employment and the manufacturing sector buttressed markets in the first trading day of the month even though about a dozen American states have paused or halted plans to allow more businesses to reopen. The Nasdaq ended up 1% at around 10,155, finishing handily above its last record close on June 23 as gains in electric-vehicle maker Tesla Inc. , Netflix Inc. and Facebook Inc. helped to propel the technology-laden benchmark. The S&P 500 index finished up 0.5% at 3,116, while the Dow Jones Industrial Average closed down 0.3%, pressured lower by declines in components Boeing Co. and Exxon Mobil . Early in the session, stocks got a boost from another Dow component Pfizer Inc. , which reported positive results from its clinical trial for a COVID-19 vaccine candidate. An upbeat report on manufacturing activity from the Institute for Supply Management and a private-sector report from ADP also helped to stoke the buying mood on Wall Street, ahead of a highly anticipated nonfarm-payrolls report due on Thursday due to the July 4th holiday in the U.S.
11:43 a.m. July 1, 2020 - By Nigam Arora
What could save the stock market in July?More government borrowing and Federal Reserve money printing Improved company earnings in the quarters ahead and a breakthrough Covid treatment or vaccine could buoy stock prices. But the real catalyst will be government interventionImproved company earnings in the quarters ahead and a breakthrough Covid treatment or vaccine could buoy stock prices. But the real catalyst will be government intervention.
11:22 a.m. July 1, 2020 - By Greg Robb
Most Fed officials at June meeting agreed on need to clarify what could cause them to move interest rates off zero Fed was concerned about “waves of outbreaks” of the coronavirus Most Federal Reserve officials said at their meeting last month that they wanted the central bank to be more explicit about how long interest rates will stay close to zero.
8:43 a.m. July 1, 2020 - By Greg Robb
In latest dark twist of pandemic, companies appear to be cutting wages Falling wages would be a concern for Federal Reserve It looks like companies are cutting wages for workers, a move that was almost unheard of pre-pandemic, said Mark Zandi, chief economist at Moody’s Analytics.
6:01 a.m. July 1, 2020 - By Elisabeth Buchwald
The extra $600 Americans get in weekly unemployment benefits ends next month — how lawmakers are proposing to replace it Extending the extra $600 could create a disincentive to return to work, some lawmakers sayExtending the extra $600 could create a disincentive to return to work, some lawmakers say.
5:08 a.m. July 1, 2020 - By Joseph E. Stiglitz
There’s a better way than throwing money at zombie companies The right response to COVID-19 would protect people and transform the economy to make it more resilient, more equitable and greenerThe right policy response to COVID-19 would protect people and transform the economy to make it more resilient, more equitable and greener.
5:00 a.m. July 1, 2020 - By Andrea Riquier
Investing legend Burton Malkiel on day-trading millennials, the end of the 60/40 portfolio and more ‘I don’t think there is anybody who devotes a life to... the stock market who doesn’t have something of a gambling instinct’The upheaval caused by the coronavirus may mean the end of the 60/40 portfolio, investing icon Burton Malkiel tells MarketWatch, but some other truths will likely endure. Investors are probably better off in passive portfolios, not chasing active managers - or even worse, day trading out of boredom.
4:03 a.m. July 1, 2020 - Barrons.com
Barron’s Daily: Another Reminder That Coronavirus Isn’t Going Away: Denny’s Is Selling Stock. Fauci delivers a stark message to lawmakers, the U.S. and China escalate again, an early jobs report, and other news to start your day.
3:44 a.m. July 1, 2020 - By Jillian Berman
Another thing your ZIP code determines: Your experience with student debt An analysis published Monday offers the latest evidence that student debt is exacerbating racial inequalityAn analysis published Monday offers the latest evidence that student debt is exacerbating racial inequality.
2:30 a.m. July 1, 2020 - Barrons.com
Supreme Court Rules the President Can Fire the Consumer Watchdog Head. What’s at Stake. The last financial crisis convinced Congress to create a powerful consumer-protection agency whose signature feature was independence. In the midst of a new crisis, that agency has lost some of its autonomy.
2:24 a.m. July 1, 2020 - By Philip van Doorn
These stocks, including Tesla and Apple, are the real winners for the second quarter of 2020 A select group of stocks rose in the second quarter and for all of 2020A select group of stocks rose in the second quarter and for all of 2020.
8:16 p.m. June 30, 2020 - Associated Press
Asian markets gain after Wall Street caps impressive quarter Nikkei slips as manufacturer sentiment falls, but stocks rise in Hong Kong, Seoul, SydneyAsian shares were mostly higher Wednesday after Wall Street capped its best quarter since 1998, shrugging off continued signs of global economic damage from the coronavirus pandemic.
4:08 p.m. June 30, 2020 - Associated Press
Game over: Baseball’s minor leagues cancel 2020 seasons On top of that, 40 minor-league teams may be eliminated before next seasonBaseball’s minor leagues canceled their seasons on Tuesday after Major League Baseball decided not to provide any players to its affiliated teams amid the coronavirus pandemic.
12:57 p.m. June 30, 2020 - Barrons.com
U.S. Stocks Close Out Their Best Quarter in Decades All the major indexes closed higher as markets weighed increasing coronavirus cases against economic data from China showing factory activity rising to a three-month high.
12:36 p.m. June 30, 2020 - By Joy Wiltermuth
Dow books best quarter since 1987 despite warnings from Powell and Mnuchin on economy Fed, Treasury vow to keep up support for economy as U.S. COVID-19 infections climbU.S. stock-indexes finished higher Wednesday, as data showing recovering consumer confidence and higher home prices helped offset ongoing concerns about the rising number of new coronavirus cases in many American states.
12:36 p.m. June 30, 2020 - By Mark Hulbert
4 safe and inflation-beating ways to beat those sinking yields on money-market funds These low-risk vehicles give you a positive after-inflation rate on your moneyThese low-risk vehicles give you a positive after-inflation rate on your money, writes Mark Hulbert.
12:11 p.m. June 30, 2020 - Barrons.com
Wells Fargo May Need to Cut Its Dividend by 50%, Analyst Says With the Federal Reserve’s stress tests in the rearview mirror, Wall Street has slightly more guidance on the path of bank dividends later this year. But uncertainty remains.
11:51 a.m. June 30, 2020 - By Sunny Oh
Sales of ‘junk’ bonds hit record in June as debt-saddled corporations rush to raise cash Dealogic reported U.S. issuance among sub-investment grade, or junk-rated, companies stood at $51.5 billion in JuneThe most indebted companies in the U.S. sell the most bonds in a month ever, as corporate financial officers and investment bankers look to take advantage of investor appetite for yield.
10:48 a.m. June 30, 2020 - MarketWatch.com
Mnuchin, Powell testify before House panel on coronavirus aid: live blog Treasury secretary and Federal Reserve chairman appear Tuesday before House Financial Services committeeTreasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell on Tuesday are testifying before the House Financial Services Committee, giving their latest assessment of the government’s response to the coronavirus crisis.
10:33 a.m. June 30, 2020 - By Myra P. Saefong
Gold prices top $1,800 an ounce to score highest finish since 2011 Silver gains nearly 32% in the second quarterGold futures top $1,800 an ounce on Tuesday to tally their highest finish since 2011 as uncertainty created by the coronavirus pandemic feeds the metal’s appeal as a haven investment.
9:57 a.m. June 30, 2020 - MarketWatch.com
There is a 'right thing' to do when the market tanksEvery downturn is different and scary in its own way
8:25 a.m. June 30, 2020 - Barrons.com
U.S. Stocks Overcome Early Weakness Stocks are on the rise on the last day of trading in the first half of the year.
8:18 a.m. June 30, 2020 - By Greg Robb
Fed’s Williams warns that U.S. economy far from healthy even if worst of the coronavirus outbreak is over Full recovery from COVID-19 is years away, New York Fed president saysNew York Fed President John Williams said Tuesday there are early signs the worst is over for the economy but that it ‘is still far from healthy.’
8:00 a.m. June 30, 2020 - By MarketWatch
Dow pops higher to join tech-driven rally as investors await Powell, Mnuchin testimony on the coronavirus responseU.S. stock benchmarks rise near midday Tuesday, as investors await a congressional hearing featuring Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin that could provide more investor guidance about the government’s economic response to the rising numbers of coronavirus cases.
7:00 a.m. June 30, 2020 - Barrons.com
Goldman 2Q Earnings Forecast Raised by Analyst The firm’s “back is against a wall, and we think that it will respond,” Wells Fargo analyst Mike Mayo says.
6:28 a.m. June 30, 2020 - By Paul Brandus
Don’t count Trump out yet — here’s how he can still win in November Trump can hope for a cure, or hope the economy recovers, or he can just do what he does best: go dirtyDonald Trump is far behind, but he could still win. Here’s how.
5:32 a.m. June 30, 2020 - By Andrea Riquier
U.S. stocks open lower with Powell, Mnuchin on deckU.S. stocks fell modestly at the start of trading Tuesday as investors continued to monitor a rising COVID-19 case count and awaited testimony from Federal Reserve Chairman Jerome Powell and Treasury Secretary Stephen Mnuchin that could shed more light on Washington's response to the pandemic. The Dow Jones Industrial Average fell 92 points or 0.4%, while the S&P 500 was down 3 points, 0.1%. The Nasdaq Composite Index was virtually unchanged, opening near 9,875. Trading is likely to be choppy on this last day of the month, quarter, and first half of the year. Shares of Lululemon Athletica Inc. rose nearly 4% after announcing it will acquire at-home fitness company Mirror for $500 million, a sign both of Lululemon's broader aspirations and the continuing appeal of home-based fitness.
5:07 a.m. June 30, 2020 - Barrons.com
It’s Time to Hedge the Stock Market Two veteran Wall Street strategists favor using options hedges to tamp down risk as a blockbuster quarter draws to a close. Through Monday, the S&P 500 index had recovered 36% from its March 23 lows
4:48 a.m. June 30, 2020 - Barrons.com
Stock Market Set to End Best Quarter Since 1998 With a Whimper The S&P 500 has gained 18.1% so far this quarter, putting it on pace for the best quarter since 1998. Royal Dutch Shell and Uber stocks are in play.
4:44 a.m. June 30, 2020 - By Nigam Arora
Watch these two important levels in the stock market to see which way prices may go Stocks have receded to a point in which a new leg up may be on the wayStocks have receded to a point in which a new leg up may be on the way.
3:05 a.m. June 30, 2020 - Barrons.com
Wells Fargo Forced to Cut Its Dividend The big bank whose payout was most at risk confirms what Wall Street expected.
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