Traders work at the New York Stock Exchange, February 4, 2020.Bryan R Smith | ReutersSo long as the coronavirus poses a threat to global economic growth, bond yields are likely to stay around the record-low levels where they've been trading as the disease threatens to morph into a pandemic.U.S. government bonds have been a safe…
Jeffrey Gundlach, DoubleLine Capital CEO and Wall Street "bond king," is pointing the finger at Democratic presidential hopeful Bernie Sanders for the market's tumultuous rout this week."If this stock market reversal is due exclusively to the virus, then why is United Healthcare down far more than SPX?" Gundlach wrote in an email to CNBC's Scott…
Leon CoopermanScott Mlyn | CNBCBillionaire investor Leon Cooperman told CNBC on Wednesday he's using the market scare to buy more equity in companies like United Airlines as part of a broader bet that the coronavirus will have disappeared by June.Speaking on "Squawk Box," Cooperman said he's been a net buyer in the last few days…
CNBC's Jim Cramer said Wednesday that investors should look at buying some stocks after two days of major coronavirus-related declines."I think you've got to start buying something," Cramer said on "Squawk on the Street."The "Mad Money" host said he understands more bad news related to the virus outbreak could happen, such as increased cases in…
In the last two sessions the Dow has shed 6.59% — its worst two-day performance since Feb. 2018 — but history shows that two day drops of this magnitude are typically a sign that negative sentiment has become too extreme, too quickly.Looking at performance over the last 30 years, data analytics tool Kensho found that…
A worker picks mushroom grown in a greenhouse in Anlong county in southwest China's Guizhou province Wednesday, Feb. 19, 2020.Feature China | Barcroft Media via Getty ImagesChina's economy will bounce back from the coronavirus and grow 15% in the second quarter on a quarter-on-quarter, annualized basis, JPMorgan Chase's Joseph Lupton told CNBC on Wednesday.Lupton, a…
Traders work on the floor at the New York Stock Exchange.Brendan McDermid | ReutersThis is a live blog. Please check back for updates.7:20 am: Disney shares fall 2% as CEO Bob Iger steps down, effective immediatelyShares of Disney fell more than 2% during Wednesday's premarket trading after the company said that CEO Bob Iger would step…
Foxconn employees on the assembly line in Longhua, Shenzhen, China. The company reportedly employed students working overtime at its iPhone factory in Zhengzhou.Qilai Shen | Bloomberg | Getty ImagesFoxconn, the world's largest contract manufacturer of electronics, has tapped the famed Chinese scientist behind the discovery of the SARS virus in 2003, to advise on the…
A group of Venetians dressed up like old doctors at the time when in Venice there was the plague, celebrate the end of the Venice Carnival, despite the facts it has been stopped on Sunday due to Coronavirus situation around the region.NurPhotoItaly's prime minister has called for calm as the coronavirus spreads to other parts…
The 10-year Treasury yield turned lower Wednesday after an initial bump higher, falling to a record low amid heightened fears about the fast-spreading coronavirus and its effect on the global economy.The yield on the benchmark 10-year Treasury note, which moves inversely to price, fell 4 basis points to 1.302%, just below its last record low…
Nearly half of Gen Z and millennials are planning to donate to a political campaign in 2020, and it's likely that many will use the convenience of their credit cards to do so.But while credit cards are an easy way to make a payment, donors should consider that when you charge your donation to a…
Donald J. Trump at the podium points to a member in the audience as he addresses the crowd during his opening ceremony of the New York City 100th annual Veterans Day Parade and wreath-laying at the Eternal Light Flag Staff.Ira L. Black | Corbis | Getty Images"Ultimately we expect we will see community spread in…
New Disney CEO Bob Chapek told CNBC on Tuesday he will continue to steer the company down the path laid by its former leader, Bob Iger."I suspect in the beginning it will be more of the same because essentially the strategies that Bob's put in place are really long lasting in terms of where the…
Jordan Katzman, co-founder of SmileDirectClub Inc., left, and Alex Fenkell, co-founder of SmileDirectClub Inc., watch traders during the company's initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Thursday, Sept. 12, 2019.Michael Nagle | Bloomberg | Getty ImagesCheck out the companies making headlines after the bell:Salesforce.com—The software company's stock fell 2%…
Stock futures were up just slightly in overnight trading after stocks' worst two-day rout in more than four years amid heightened concern the coronavirus will upend global economic growth.Futures on the Dow Jones Industrial Average rose about 57 points, while the S&P 500 futures were up 0.1%.To be sure, futures trading this early may not…
The S&P 500 just wiped out about $1.737 trillion of its value during its two-day market sell-off, according to S&P Dow Jones Indices.The equity benchmark lost $810 billion in value on Tuesday, adding to its $927 billion loss on Monday, according to the firm's Senior Index Analyst Howard Silverblatt. It's down $2.138 trillion since last…