If you’re a long-term investor, Federated Hermes’ Phil Orlando sees potential for record gains. But if you’re looking for upside this year, you may want to hunker down some more. “The economic and corporate earnings news for the next month or two is going to be dreadful,” the firm’s chief equity market strategist told CNBC’s “Trading
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8:40 am: Energy stocks down big following oil’s collapse Shares of oil producers and services companies are dropping in premarket trading on Monday after oil prices tumbled to their lowest level in more than 21 years. The May contract of U.S. West Texas Intermediate (WTI) futures fell to $11.04 a barrel on Monday, down almost 40%, to register
Paul Meeks is reworking his investment strategy due to coronavirus risks. The long-time tech investor recently parted ways with two of his top picks: Mastercard and Visa. “They do require to get a lot of swipe fees, a lot of face-to-face transactions in places like hotels, bars and restaurants and I just don’t see that happening,” the
A man wears a protective mask as he walks on Wall Street during the coronavirus outbreak in New York City, New York, U.S., March 13, 2020. Lucas Jackson | Reuters U.S. stock futures opened lower on Sunday night as investors weigh the latest news on the coronavirus front along with another decline in crude prices.
Take a look at some of the biggest movers in the premarket: Procter & Gamble (PG) – The consumer products giant earned $1.17 per share for its latest quarter, beating consensus estimates by 4 cents a share. Revenue came in below analysts’ projections. Organic sales were up 6% during the quarter thanks in large part
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 2, 2020. Brendan McDermid | Reuters 8:12 am: Trump lays out three-stage reopening of the country President Donald Trump has issued a three-stage process for the economy to reopen slowly as the coronavirus recovery process begins. In an 18-page
Lyft driver Steven Smith uses a sanitizing wipe to disinfect his vehicle as he waits to get a call from a passenger in San Francisco, Calif. on Thursday, March 19, 2020. Smith and other Lyft drivers have seen a decline in ridership amidst the Bay Area’s shelter-in-place in response to the global outbreak of the
New York Federal Reserve President John Williams said that he sees some aspects of the economy coming back online but doubts growth will get back to normal through 2020. Williams spoke Friday with Steve Liesman on CNBC’s “Squawk Box.” Areas such as construction should be the first to come back, he said, echoing comments from
Charlie Munger Lacy O’Toole | CNBC Speculation about what Berkshire Hathaway‘s Warren Buffett is doing during this crisis is a common topic among investors these days, with most expecting the “Oracle of Omaha” to make a classic value purchase during this tumultuous time or a rescue cash infusion to a struggling company he likes over the
James Bullard David A. Grogan | CNBC St. Louis Federal Reserve President James Bullard proposed what he sees as the best economic solution to the coronavirus crisis: Pay full costs for any firm that comes up with a test for the virus that can assure the public that it’s safe to resume activity. Doing so,