Despite COVID-19’s devastating impact on the economy, Oppenheimer’s Chief Investment Strategist John Stoltzfus remains overweight on U.S. equities, and is more bullish on cyclical sectors versus defensive sectors. As for the legitimate concerns about the virus’ re-emergence, Stolzfus argues investors should “consider the reopening setbacks as just that and not something that is permanent.” “In
Month: July 2020
FAANG stocks displayed at the Nasdaq. Adam Jeffery | CNBC Big tech could be about to make a big splash. Four of the market’s five biggest stocks report earnings within a single hour on Thursday afternoon and that could cause big volatility in after-hours trading and again on Friday. Apple, Amazon, Alphabet and Facebook — worth
by Martin Armstrong As we head into the fall of 2020, the damage from this coronavirus lockdown will begin to make its full impact felt. While about 25 million unemployed receive $600 a week, there remain arguments to reduce that to $200. Meanwhile, the real impact will be witnessed as the eviction moratorium, which lasted
The health care sector includes companies that produce medical goods, such as drugs and medical devices, and companies that provide medical services, such as health insurance or hospital administration. Here are the 10 biggest health care companies based on 12-month trailing (TTM) revenue as of March 24, 2020. This list is limited to companies which
Warren Buffett, chairman and CEO of Berkshire Hathaway David A. Grogan | CNBC Warren Buffett’s Berkshire Hathaway this week again added to his already-enormous stake in Bank of America at a time when the coronavirus pandemic dampens the economic outlook and interest rates hold near record lows. A Securities and Exchange Commission filing showed Buffett’s
Anthony Fauci, a high-profile member of the White House coronavirus task force, told Congress that the surge in Covid-19 cases in the US was due to states not following official guidance, in a tacit rejection of Donald Trump’s insistence that it was the result of widespread testing. States in America’s “sunbelt” region, which includes parts
Microsoft has held talks to acquire TikTok, whose Chinese owner ByteDance faces mounting pressure from the US government to sell the video sharing app or risk being blacklisted in the country, said people briefed on the matter. The approach to buy TikTok is at the early stages, and it is unclear whether Microsoft will succeed
Shake Shack, one of the many storefront businesses boarded in downtown Brooklyn over the fears of looting. Erik McGregor | Getty Images Just looking at the earnings for Apple, Amazon, Facebook and Google, you might get the impression that everything is going swimmingly for second- and third-quarter earnings. But that’s not the case. “We continue to
Merrill Lynch is pausing client prospecting for its roughly 3,000 advisor trainees for a few weeks to provide new training on technology and procedures, according to an internal memo. The firm’s training program, dubbed Financial Advisor Development Program, is one of the largest on the Street and lasts approximately 40 months. The pause will effectively
Authorities have taken a teen into custody, believing him to be the brains behind the recent Twitter breach. Authorities have taken a 17-year old into custody, claiming the not-yet-adult as the brains behind the recent massive Twitter breach. “Early this morning, the FBI, IRS, US Secret Service, and Florida law enforcement placed a 17-year-old in
Pre-covid, a table in an active adult community developer’s welcome center shows remaining inventory … [+] in various sections. Photographer: Patrick T. Fallon/Bloomberg BLOOMBERG NEWS Florida has had some well-publicized challenges lately, but homebuilders statewide are seeing a continued rebound of demand from buyers that surprises even them. Building company executives and owners I’ve spoken
Protesters gather at a July 22 rally in Boston in support of legislation to block evictions in Massachusetts for up to a year. Boston Globe | Boston Globe | Getty Images If you’re facing eviction during the pandemic, you’re definitely not alone. Up to 40 million Americans may lose their homes in this downturn, four times the
During the last few weeks, gold has skyrocketed in value over the concerns fueled by the faltering global economy. Despite the fact that gold has always been a safe-haven, many investors are looking to bitcoin because they fear central banks will dilute the market or even confiscate the gold. Prior to Covid-19, central banks purchased
As benefits expire, rent comes due, the school year looms and states struggle, Washington’s warring factions are racing to rescue the economy—and their political fortunes. Tom Williams/CQ-Roll Call, Inc via Getty Images, Mario Tama/Getty Images, Alex Wong/Getty Images, Doug Mills-Pool/Getty Images. Design by Forbes The coronavirus pandemic has taken an inconceivable toll on the American
The Affordable Housing Credit Improvement Act authored by Rep. Suzane DelBene, D-Wash., has 223 cosponsors in the House including 76 Republicans. Brian Tumulty, The Bond Buyer A bipartisan group of 103 House members wants congressional leaders to prioritize tax law changes to expand the availability of affordable housing in the next round of emergency COVID-19
Silver markets are obviously very bullish, but at this point they might be a bit overbought. I think that it is only a matter of time before we find enough value on a pullback to get long again but we clearly have not had it yet. In the short term, it looks like we are
For silver to remain in a bullish trend, it was necessary to hold a key support level. So, far… by Steve St Angelo of SRSrocco Report While there is a lot of volatility in the silver price during early U.S. trading, where it closes today will likely set the trend for next month. For silver to
Our neighbors to the north are taking an interest in the upcoming US elections – which is no surprise, as the US and Canada are each other’s largest trading partners and have a long history of close relations. RBC – the major Canadian international bank and investment firm – has released a report from the
Take a look at some of the biggest movers in the premarket: Caterpillar (CAT) – The heavy equipment maker reported quarterly earnings of $1.03 per share, beating the 64 cents a share consensus estimate. Revenue also topped forecasts. The beat came even as sales tumbled from a year ago due to a pandemic-related slump in
by Charles Hugh-Smith No federal bailout or stimulus can reverse these three dynamics, and no amount of legerdemain can replace the spending of the top 10%. Few of those anxiously seeking a rebound in consumer spending take into account the top 10% of households account for almost 50% of consumption, and that top 10% skews
Fidelity Investments For Janae, a Client Management Representative at Fidelity Investments, one of the most exciting aspects of working for the firm is the career development opportunities it offers. After graduating college in 2008, Janae began her career as an Internal Wholesaler for a large firm, before becoming a recruiter for financial advisors. But in
The US dollar has tumbled the most in a decade this month, propelling sterling and the euro higher, on questions over the recovery of the world’s biggest economy and growing political uncertainty. The greenback weakened 0.2 per cent against a basket of its trading peers by late morning on Friday in Europe. The greenback has
The US has agreed to pay Sanofi and GlaxoSmithKline up to $2.1bn to speed up the development of the experimental Covid-19 vaccine the companies are developing and secure an initial 100m doses. The majority of the funding will go to Sanofi since the French pharma group came up with the vaccine candidate, which will be
Vanguard is closer to launching the robo technology for advisors it has been building for more than a year. The $5 trillion asset manager is in the testing phase for its new advice software for planners, says Tom Rampulla, managing director of Vanguard’s Financial Advisor Services division, who spoke on a webcast with financial advisors
Innocent spouse relief is a way to avoid paying additional tax you might owe the IRS if your spouse or ex-spouse made significant errors on your joint tax return. Here’s how innocent spouse relief works, and how you can get it. What is innocent spouse relief? On joint tax returns, both filers are generally responsible
In an increasingly digital world, security is a high-stakes game. The identities of customers along with their privacy and financial information are all in the hands of centralized security systems. We are reliant on these systems, and even though security plays a critical role in our lives, we rarely stop to think about the consequences
The luxury retail market in mainland China has been “very, very strong” from April to July and is likely to hold up well for the rest of the year as long as there is no strong resurgence of the coronavirus, says Ronnie Chan, chairman of Hang Lung Group and its subsidiary Hang Lung Properties. 02:26
News.Bitcoin.com Lead Writer Jamie Redman Named One of the Best Crypto Bloggers Lead Writer at News.Bitcoin.com, Jamie Redman has made Redeeem.com’s list of twelve influential go-to crypto bloggers. Redeeem says the list comprises names behind some of the most informative crypto news articles. In its citation, Redeeem says Jamie Redman, who is … read more.
Senate Republicans proposed another stimulus check bill yesterday, the Coronavirus Assistance for American Families (CAAF) Act. Stimulus checks under the CAAF Act would provide $1,000 to eligible adults and dependents. As an example, an eligible family of four would receive $4,000. WASHINGTON, DC – MARCH 24: Sen. Marco Rubio (R-FL) talks to reporters after leaving a
A municipal bonding bill approved by New Jersey lawmakers Thursday that would enable local governments to borrow to offset some revenue losses driven by the COVID-19 pandemic may not get the blessing of Gov. Phil Murphy. The Democrat-controlled state Senate approved the legislation Thursday in a party-line 25-15 vote, but Murphy has not indicated whether
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