The Puerto Rico Oversight Board announced it was approving the local government use $787 million to address the economic and health challenges raised by COVID-19. The funds will be in addition to the $160 million from the Emergency Reserve Fund that the board released March 12. Puerto Rico Governor Wanda Vazquez Garced said that her
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The SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which is one of the largest energy ETFs, has been under a lot of pressure this year, thanks to the plunge in oil prices, and the fund’s future is looking challenging. The SPDR S&P Oil & Gas Exploration & Production ETF’s portfolio consists primarily
Twenty-two days. That’s all it took for the S&P 500 to fall 30% from its record high, the fastest drop of this magnitude in history. The second, third and fourth quickest 30% pullbacks all occurred during the Great Depression era in 1934, 1931 and 1929, respectively, according to data from Bank of America Securities. “This
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
Traders work on the floor of the New York Stock Exchange (NYSE) on March 09, 2020 in New York City. Spencer Platt | Getty Images For a market rocked by big volatile moves lower, Friday’s expiration of stock futures and options could add even more wild swings. But the quadruple witching expiration, as it is
A sign marks the location of a WeWork office facility on August 14, 2019 in Chicago, Illinois. Scott Olson | Getty Images News | Getty Images Five months after SoftBank agreed to a massive bailout of office-sharing start-up WeWork, a big part of the deal is in jeopardy of falling apart. A special committee to
The U.S. First Circuit Court of Appeals rejected Puerto Rico bondholders’ attempt to be named trustee of the Puerto Rico Employees Retirement System. The court issued its decision Thursday upholding a January decision by U.S. District Court Judge Laura Taylor Swain. Judge Sandra Lynch wrote Thursday’s decision, which was joined by Chief Judge Jeffrey Howard
Thesis Summary The Vanguard S&P 500 Growth ETF (NYSEARCA:VOOG) offers a variety of quality, blue-chip stocks that are sure to bounce once the market has bottomed. With large exposure to the technology and communication sectors, the fund will likely offer great returns in the coming years. Consider scaling into this fund as stocks find a
The adage “keep calm and carry on” might, in the end, be the best advice for investors to follow during times of extreme market volatility such as the present. While it might seem counterintuitive to sit back and relax while stocks post swift and steep losses, for investors with longer-term time frames it typically pays
“Theater Closed” signs are posted in front of the AMC Montebello, as the US chain of AMC movie theaters closes for 6 to 12 weeks, On March 17, 2020 in Montebello, California, as the coronavirus (covid-19) epidemic leads to restaurant and school closures and workers working from home in an effort to encourage social distancing.
An ‘Open House’ sign is displayed as potential home buyers arrive at a property for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images The spring housing market was on its way to becoming the strongest in over a decade, but it will likely turn sharply lower, as the economy shuts down in
The municipal market sold off again on Friday in dramatic fashion even after the Fed announcement that it would buy munis via collateral by financial institutions, a step aimed at calming the anxiety over the flight of money from tax-exempt money market funds. The Fed move did lessen the sell off on the short end
A trader reacts during the opening bell at the New York Stock Exchange (NYSE) on February 28, 2020 at Wall Street in New York City. Photo by Johannes Eisele | AFP | Getty Images We are all exhausted and depressed, having experienced this week one of the worst stock market declines in modern history. I
Markets face more violent swings in the coming week as investors watch out for a rising number of coronavirus cases and new data that could show how the virus is slamming the U.S. economy. The past week was brutal for stock investors with the Dow Jones Industrial Average posting a 17.3% decline, its worst week since
Wealthy New Yorkers fleeing the city are driving up the prices of rentals in the Hamptons and Hudson Valley, with rates more than tripling for some properties. As New York City considers “shelter in place” rules and the number of coronavirus cases skyrockets, New Yorkers who can afford it are decamping to more rural locales.
Chicago and Illinois are counting on the federal government to help replenish coffers battered by the response to COVID-19 and loss of tax revenues from shuttered businesses but they have stopped short of putting dollar amounts on what’s needed. “There is no doubt that there is an enormous cost that everybody in Illinois is bearing
CNBC’s Jim Cramer said Friday he fears that the coronavirus-driven halt in the economy could leave the U.S. with only three retailers after the crisis ends. “If we come out of this sooner, then other, small businesses can open. If we come out of this later, there are going to be three retailers in this country,”
Call it part of the grand blame game: Markets are down big, so it must be someone’s fault. Exchange traded funds. High-frequency traders. Short sellers. In Europe, they have already figured out whose fault it is: Short sellers! In the past week, several European countries, including Italy, Spain, France, Belgium and Greece–have banned short selling
Tesla vehicles stand outside of a Brooklyn showroom and service center on August 27, 2018 in New York City. Spencer Platt | Getty Images Check out the companies making headlines after the bell. Crowdstrike — The cybersecurity company’s stock soared 19% in extended trading after the company posted fourth-quarter revenue that exceeded analysts’ expectations. Crowdstrike
A For Sale sign is seen in front of a home in Miami, Florida. Joe Raedle | Getty Images As Americans sit at home watching the value of their retirement funds crater, it is no surprise the spring housing market is about to crater as well. Home sales could fall by 35% annually this spring,
The municipal market was imploding in real time as it sold off by at least half a percentage point across the curve and Lipper reported more than $12 billion of outflows — simply more sellers than buyers amid a chaotic reaction to the COVID-19 virus. The municipal market also completely decoupled from U.S. Treasuries in
Main Thesis The purpose of this article is to evaluate the SPDR Portfolio S&P 500 High Dividend ETF (SPYD) as an investment option at its current market price. I have recommended, and owned, SPYD for a long time, but recent market action has altered my opinion on the fund. The fund’s poor performance indicates it
The coronavirus pandemic has resulted in massive turmoil in stock markets across the world, and almost all asset classes have suffered due to the deep selloff over the past few days. The same has been the case with Bitcoin, the world’s biggest cryptocurrency by market cap, and over the past weeks, its price has declined
A person wears a face mask as a precaution against coronavirus in New York, on March 2, 2020. Tayfun Coskun | Anadolu Agency | Getty Images Walmart shares are emerging as a winner during the chaotic coronavirus crisis. The big box retailer, a classic defensive consumer staple stock, is benefiting from the millions of Americans
The Fed is throwing all of its fire power at markets, and yet interest rates continue to rise, a troubling sign when the economy looks set to slow down dramatically. Markets continue to swing violently with the Dow losing another 6.2% Wednesday; oil plunging 24%, and copper down about 7%. The credit markets continue to
As the growing economic impacts of the coronavirus roll through the nation, some of the nation’s largest mortgage lenders are already getting calls from borrowers, concerned they won’t be able to make their monthly payments. Both government and independent regulators for the mortgage industry are now working on plans to deter another foreclosure crisis. While
Puerto Rico’s bankruptcy judge is pushing the legal proceedings forward despite the governor’s order to end most activities on the island to slow the spread of COVID-19. While the Puerto Rico U.S. District Court ordered a delay of most of its deadlines until April 10, the Puerto Rico government bankruptcy within the court is rolling
ETF Overview Invesco Dynamic Semiconductors ETF (PSI) owns a portfolio of large-cap semiconductor stocks. The fund seeks to track the investment results of the Dynamic Semiconductor Intellidex Index. Stocks in PSI’s portfolio should continue to enjoy favorable industry fundamental as the semiconductor industry is set to grow at a rate of 7.67% annually through 2024.
Bill Ackman, founder and CEO of Pershing Square Capital Management. Adam Jeffery | CNBC Longtime hedge fund manager Bill Ackman on Wednesday advised President Donald Trump to shut down the U.S. for one month in an effort to contain the novel coronavirus and said financial markets would rally in response to such decisive action. Ackman,
The double-barreled approach of a $1 trillion proposed fiscal stimulus program and Federal Reserve policy could help soften the blow of an economic recession and head off a potential financial crisis. The White House is seeking a stimulus package worth between $850 billion and $1 trillion that could result in emergency funds for individuals and
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