Stocks are a good value for investors who think the economic hit from the coronavirus is temporary, Oakmark Funds partner Bill Nygren told CNBC on Tuesday. “We think stocks are really cheap if you believe, as we do, that the economy is going to eventually recover, as will the P/E multiples,” the value investor said on
admin
David Goetsch, co-executive producer of “The Big Bang Theory,” on the show set. David Goetsch I can’t stop reading the news about the coronavirus and its impact on the economy. My brain is hardwired to obsess on a crisis, even one which doesn’t impact me directly. Everything else gets pushed to the periphery while one
Stock futures rose in overnight trading, building on Tuesday’s historic rally, as investors awaited an unprecedented stimulus package to combat the economic impact of the coronavirus. Futures on the Dow Jones Industrial Average climbed about 310 points. The S&P 500 futures rose 30 points. The action in the futures market followed an epic comeback on
Citadel, the Chicago-based hedge fund giant led by billionaire Ken Griffin, has so far weathered the coronavirus market storm well, turning a slight profit in its flagship Wellington hedge fund for the year through Monday, according to a person familiar with the situation. The fund, which practices a so-called multi-strategy array of bets on stocks,
Nike reported quarterly sales that topped analysts’ expectations, thanks to a boost from its digital business and growth in North America, which helped to offset weakness in China due to COVID-19. Its shares shot up more than 8% in after-hours trading Tuesday following the release. Chief Executive Officer John Donahoe said the business is starting to
katleho Seisa Congress may permit retirees to skip required minimum distributions from their retirement savings. The House coronavirus relief bill, which was released yesterday, contains a provision that waives for 2020 the required minimum distributions from individual retirement accounts and workplace retirement plans. A similar provision is in the latest version of the Senate bill.
This is a developing story. Check back for updates. President Donald Trump and Vice President Mike Pence held a call to discuss the coronavirus impact on the economy, according to sources. Investors on the call included Third Point’s Dan Loeb, Blackstone’s Stephen Schwarzman, Vista Equity’s Robert Smith, Intercontinental Exchange‘s Jeffrey Sprecher and Paul Tudor Jones, hedge
JohnnyGreig | E+ | Getty Images We are in a challenging time, facing rapidly evolving information about the coronavirus and the effects on how we work and live. Markets continue to function and are reflecting this constant change, which means greater volatility. Those circumstances don’t make it easy for investors to stay in their seats.
People look out from aboard the Grand Princess cruise ship, operated by Princess Cruises, as it maintains a holding pattern about 25 miles off the coast of San Francisco, California on March 8, 2020. Josh Edelson | AFP | Getty Images Check out the companies making headlines in midday trading. Norwegian Cruise Line, Royal Caribbean,
Los Angeles County Public Health director Barbara Ferrer. Robyn Beck | AFP | Getty Images A child under 18 has died from the coronavirus in California, Los Angeles County health officials announced Tuesday. “Tragically, one of the people who died was a person under the age of 18, a devastating reminder that COVID-19 infects people
For years, Tony Robbins has been starting his mornings with a 10-minute ritual that gives him a boost of energy and prepares him for the day. On a recent trip to Robbins’ Fiji resort Namale, where he was hosting the winners of Shopify’s Build a Bigger Business competition, he showed Business Insider how to perform
► Subscribe to FT.com here: http://bit.ly/2r8RJzM Norway has become a global leader in electric cars but rapid progress presents challenges such as when to withdraw subsidies. Richard Milne reports from the world’s largest charging station on a country that shows how an electric future might look. Filmed by Richard Milne. Produced and edited by Paolo
As the U.S. economy skids and many Americans scramble to make ends meet during the coronavirus pandemic, one casualty may be credit scores. Some congressional lawmakers want to prevent that. A Senate bill introduced last week would prevent negative information from reaching your credit report for at least four months, as the nation continues battling
A man wearing a face mask takes a selfie at the Charging Bull statue on March 23, 2020 near the New Stock Exchange in New York City. Angela Weiss | AFP | Getty Images Markets have historically “reacted most negatively” to unknown diseases, tending to plunge more during epidemics as compared to natural disasters such
Government workers walk out of Jianghan Fangcang temporary hospital for COVID-19 patients, which is being shut down, in Wuhan in central China’s Hubei province Monday, March 09, 2020. As the number of patients drops, the city has begun closing the temporary hospitals built to treat patients with the coronavirus. Feature China | Barcroft Media |
Officers in protective gear enter the cruise ship Diamond Princess, where 10 more people were tested positive for coronavirus on Thursday, to transfer a patient to the hospital after the ship arrived at Daikoku Pier Cruise Terminal in Yokohama, south of Tokyo, Japan February 7, 2020. Kim Kyung-Hoon | Reuters The coronavirus survived for up
Rep Ilhan Omar (D-MN) takes part in a discussion on “Impacts of Phobia in Our Civic and Political Discourse” during the Muslim Caucus Education Collective’s conference in Washington, July 23, 2019. Kevin Lamarque | Reuters Democratic Reps. Ilhan Omar of Minnesota and Ayanna Pressley of Massachusetts introduced legislation on Monday that would suspend student loan
Billionaire investor David Tepper said he is cautiously buying some stocks, particularly in the tech sector, as the broader market tumbles amid the coronavirus outbreak. However, he noted the relentless selling may have further to go. “I’m nibbling right now, for what it’s worth,” Tepper, the founder of Appaloosa Management, told CNBC’s Scott Wapner on “Halftime Report.”
Senate Majority Leader Mitch McConnell (R-KY) talks to reporters after the Senate voted to acquit President Trump of both charges in his Senate impeachment trial in Washington, February 5, 2020. Jonathan Ernst | Reuters Dow Jones Industrial Average tumbles 582 points The Dow dropped 582.05 points, or 3.04%, to close at 18,591.93. The S&P 500
Those who depend on regular transfusions are increasingly worried as over 4,000 blood drives were canceled in the U.S. because of the coronavirus, according to the American Association of Blood Banks. This situation, which resulted in a loss of 130,000 donations, is unprecedented, according to Dr. Claudia Cohn, AABB’s chief medical officer and director of
BongkarnThanyakij It’s been a week since President Donald Trump announced he would waive all interest on federal student loans during the coronavirus outbreak. Brian Byrd’s debt is still growing. “Every day,” said Byrd, a 40-year-old software engineer from Seattle who owes around $50,000. “That clock has not stopped.” Byrd has called his student loan servicer,
Traders, some in medical masks, work on the floor of the New York Stock Exchange (NYSE) on March 20, 2020 in New York City. Trading on the floor will temporarily become fully electronic starting on Monday to protect employees from spreading the coronavirus. The Dow fell over 500 points on Friday as investors continue to
A staff worker wearing a protective mask and protective suit checks a visitor’s body temperature with a temperature gun by a monitor showing the current stock information at the Shanghai Stock Exchange Building on March 20, 2020 in Shanghai, China. Health authorities of China said the country has passed the peak of the COVID-19 epidemic
This is a live blog. Please check back for updates. Global cases: More than 305,234 Global deaths: At least 13,000 The data above is from Johns Hopkins University. All times below are in Beijing time. 10:20 am: India begins 14-hour curfew India started a 14-hour curfew as part of the efforts to contain the coronavirus
Erica Cisneros, of San Anselmo, California, helps her daughters, third-grader Emilia and fourth-grader Eden, with schoolwork at their home. Both of the schools that the girls attend are closed because of COVID-19. Ezra Shaw It’s no fun thinking about scary things that may or may not happen. However, what’s even less fun is not being
A man cleans up on the trading floor, following traders testing positive for Coronavirus disease (COVID-19), at the New York Stock Exchange (NYSE) in New York, U.S., March 19, 2020. Lucas Jackson | Reuters The crash that no one called has investors calling back to earlier cataclysms, grasping for historical threads that can serve as
Five years after my husband died, I wrote in my journal: “I am so much more than just a widow. I’m a thriving independent woman!” Yes, I was firmly in Stage 3 of widowhood — transformation — after navigating the first two phases of grief and growth. Like many other women who also have also
Corporate earnings are about to do something they haven’t done since the 2008 financial crisis: Turn negative. According to PNC Financial’s Amanda Agati, the coronavirus fallout could dramatically hurt companies through the second quarter. “Q1 expectations are in negative territory at about 1.5%. It looks like Q2 will be down about 1%,” the firm’s chief
Closed Chicago Theatre is seen in Chicago, Illinois, on March 21, 2020. KAMIL KRZACZYNSKI This is CNBC’s 24-hour blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This live blog will be updated throughout the day as the news breaks. Global cases: More than 311,000 Global deaths:
Just like arriving international passengers have to go through customs, so does international mail. And Customs & Border Protection is tasked with searching all of them for illegal goods like counterfeit items and drugs. Take a peek inside America’s largest mail room. MORE AIRPORT CONTENT: How Emirates Makes 225,000 In-Flight Meals A Day How Illegal