Thursday, August 6

Stock News

Dow futures rise 100 points as Wall Street tries to recover from Thursday’s losses – CNBC
Stock News

Dow futures rise 100 points as Wall Street tries to recover from Thursday’s losses – CNBC

U.S. stock futures were higher on Thursday night after a decline in some major tech stocks, along with dismal employment data and rising tensions with China, pushed the market lower during regular trading. Dow Jones Industrial Average futures gained 109 points, or 0.5%. S&P 500 and Nasdaq 100 futures advanced 0.4% and 0.5%, respectively. The Dow fell just over 100 points earlier on Thursday while the S&P 500 and Nasdaq dropped 0.8% and nearly 1%, respectively. Amazon shares fell more than 2% after hitting a record high. Facebook also hit an all-time high, but closed below that level. Weekly jobless claims rose by another 2.4 million last week, according to data released by the U.S. Labor Department. That brings the total number of filings during the pandemic to more than 38 m...
Marc Lasry says the market will eventually realize the U.S. will be in a recession ‘for a while’ – CNBC
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Marc Lasry says the market will eventually realize the U.S. will be in a recession ‘for a while’ – CNBC

Billionaire Marc Lasry told CNBC on Thursday that the U.S. is going to be in a recession "for a while," a reality not currently reflected in the market.  "I think sooner or later the market will realize that," the co-founder and CEO of Avenue Capital said "Halftime Report." "I think it's going to be a hard couple years," he added.  Lasry said he believes the economic devastation wrought by the coronavirus pandemic will linger longer than what is currently expected. More than three-fourths of workers in April's jobs report described their layoff as temporary, but Lasry said that percentage will likely decrease with time.  "I hope all of them get rehired back, but from everything we're hearing it will be 50% to 80%, so that means you're going to have ...
5 things to know before the stock market opens Thursday – CNBC
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5 things to know before the stock market opens Thursday – CNBC

1. Dow set to drop as millions more people file for jobless claims Overnight, total confirmed coronavirus cases globally topped 5 million. The pandemic swings in the market continued Wednesday as the Dow Jones Industrial Average closed up 1.5%, nearly as much as it lost Tuesday. The S&P 500 advanced 1.7% to its highest closing since March 6. The index hit a coronavirus low March 23. As of Wednesday's close, it was up more than 35% since then but down 8% for the year. The Nasdaq, led by rallying tech stocks, was up 2% on Wednesday, up over 41% from its March 23 low and up nearly 4.5% for all of 2020. The Dow was up about 35% from its March 23 low but down almost 14% for the year. 2. Fortunes of companies diverge during crisis AstraZeneca has received more than $1 billio...
Nvidia’s Stock May Slump Despite Blockbuster Quarterly Results – Forbes
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Nvidia’s Stock May Slump Despite Blockbuster Quarterly Results – Forbes

The shares of Nvidia Corp. (NVDA) are drifting lower in after-hours trading on May 21, following powerful quarterly results, and healthy forward fiscal guidance. The stock has had a tremendous move higher off the lows, with the shares nearly doubling since the middle of March. However, with expectations sky-high based on the stocks recent rally, it seemed the bar would be impossible for the company to beat. It makes the mild after-hours pullback not all that surprising. It may even lead to a further decline for the near-term, which should not be too steep. price chart YCharts Blowout Results The company's results were dazzling, reporting revenue of $3.08 billion, which was better than analysts' consensus estimates of $2.98 billion. Meanwhile, earnings beat by a wider margin coming in...
Stock futures rise slightly as Wall Street tries to recover from Thursday’s losses – CNBC
Stock News

Stock futures rise slightly as Wall Street tries to recover from Thursday’s losses – CNBC

The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, April 26, 2020. Jeena Moon | Reuters U.S. stock futures were higher on Thursday night after a decline in some major tech stocks, along with dismal employment data and rising tensions with China, pushed the market lower during regular trading. Dow Jones Industrial Average futures gained 75 points, or 0.3%. S&P 500 and Nasdaq 100 futures also  advanced about 0.3%. The Dow fell just over 100 points earlier on Thursday while the S&P 500 and Nasdaq dropped 0.8% and nearly 1%, respectively. Amazon shares fell more than 2% after hitting a record high. Facebook also hit an all-time high, but closed below that ...
Zuckerberg says Facebook staff can work from anywhere — for a price – New York Post
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Zuckerberg says Facebook staff can work from anywhere — for a price – New York Post

If you want to work for Facebook from your house in Peoria, Ill., don’t expect a Palo Alto, Calif.-sized paycheck. Chief Executive Mark Zuckerberg on Thursday said half of the social-networking giant’s employees could be working remotely within the next five to 10 years, and that Facebook will begin allowing certain employees to work from home on a full-time basis. But those remote workers will have to alert Facebook if they move to a new location by Jan. 1. and may have their pay adjusted accordingly, he added. Given that Silicon Valley has some of the priciest real estate in the country, that adjustment will likely be downward. “We’ll adjust salary to your location at that point,” said Zuckerberg, adding that the tweak would be necessary for taxes and accounting. “There’ll be severe ...
Did the coronavirus keep the stock market from taking an even bigger hit? – MarketWatch
Stock News

Did the coronavirus keep the stock market from taking an even bigger hit? – MarketWatch

The Dow Jones Industrial Average DJIA, -0.41% turned in an historically awful first quarter, shedding almost a quarter of its value as the coronavirus spread around the world and took its toll on the U.S. economy. It felt like it was just the beginning. Then came the Federal Reserve. With the central bank flooding the zone with monetary stimulus, the stock market has rebounded remarkably well, considering the complete implosion of the economy. That has Jake from the EconomPic blog pondering this scenario: The coronavirus has actually helped the stock market? Sounds crazy... but is it? Judging from the reaction of Jake’s 24,000-strong Finance Twitter TWTR, +0.34% following — it was hailed as “the tweet of the day” — it’s a question worth asking. “All else equal no lower o...
Here’s what happened to the stock market on Thursday – CNBC
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Here’s what happened to the stock market on Thursday – CNBC

Wall Street and much of the Financial District stands empty as the coronavirus keeps financial markets and businesses mostly closed on April 20, 2020 in New York City. Spencer Platt | Getty Images Dow Jones Industrial Average falls 101 points Jobless claims rise by 2.4 million The Labor Department reported Thursday another 2.4 million people filed for unemployment benefits last week. Thursday's report brings the total number of filings during the pandemic to more than 38 million. The number of continuing claims was at 25.07 million, its highest level on record. "The economic data today ... still demonstrates the labor market continues to suffer in the near term," says one strategist. "You combine that with rising U.S.-China tensions and what's been a pretty good week, and that'...
As boomers hand over the keys to the stock market, sustainability-minded younger investors let their consciences lead – MarketWatch
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As boomers hand over the keys to the stock market, sustainability-minded younger investors let their consciences lead – MarketWatch

At age 25, Kevin Guardia has already been investing for nearly half his life. Guardia’s father opened a small brokerage account for his son when Kevin was in junior high, and the young man started to dabble in buying and selling stocks just as the long rebound from the financial crisis got underway. Now that he’s on his own, Guardia tackles investing more purposefully. “The whole point of buying a stock is the discounted value of future earnings,” he said. “So you want earnings that are going to go up, but you also want earnings that will be good for the future of this world.” Guardia’s views on what is “good for the future” are eclectic, just like the diverse drivers luring more investors to embrace the “environmental, social and governance,” or ESG, investing category, a segment of th...
Stock market live Thursday: Dow down 100, Facebook new highs again, Best Buy drops 4% – CNBC
Stock News

Stock market live Thursday: Dow down 100, Facebook new highs again, Best Buy drops 4% – CNBC

People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fort Smith, Arkansas, U.S. April 6, 2020. Nick Oxford | Reuters The market's strong rally this week took a breather on Thursday as data showed another 2.4 million people filed for unemployment benefits last week, bringing the total number of filings during the pandemic to more than 38 million. Meanwhile, rising tensions between the U.S. and China added to concerns about the overall economic recovery. Here's what happened: 4:15 pm: Thursday's market by the numbers Dow closed down 0.41% for its second negative day in three Dow is up 3.33% week to date, on pace for its best week since April 9 when the Dow...