NYSE Trader Talks Markets, Jobs & His COVID-19 Recovery
NYSE Trader Peter Tuchman shares his personal journey recovering from Coronavirus and says hopes people are extra cautious as states start to reopen their economies. He also warns that dismal economic data could "wake people up."
Coronavirus Cases Climb Above 200,000 Globally
Coronavirus cases topped 200,000 globally and the Dow has dipped below 20,000 for the first time in more than three years. Meanwhile, central banks and governments are stepping up monetary and fiscal stimulus to try to calm the markets.
Market Volatility: The New Norm
US equity averages continue to see wild swings on both sides of the flat line. Uncertainty over the economic impact of the COVID-19 pandemic saw quadruple-digit moves for the Dow Industrials as the trading week got underway.
Stocks Tumble & Oil Price War Wages On
NYSE Trader Peter Tuchman of Quattro Securities weighs in on the biggest market drivers this week and what is fueling the wild swings in stocks and oil. He also explains why circuit breakers are an important tool to help investors absorb information.
CDC Warns U.S. to Prepare for Potential Pandemic & Investors Panic
The S&P 500 tumbled more than 6% in just two days and the Dow dropped 1900 points. It’s the worst two-day losing streak in years as investors are panicking about the deadly Coronavirus. On top of the spike in cases globally, the CDC just warned Americans to start preparing for a potential pandemic and the FDA said it's looking for potential drug shortages.
Another Record High for Stocks!
Stocks hit record highs again, and the Dow, S&P 500 and Nasdaq are on a 5-day winning streak. Meanwhile, the House passed a $1.4 trillion government-spending package, as lawmakers try to avoid another shutdown. The Congressional Budget Office estimates that the national deficit will be an average of $1.2 trillion every year in the next decade from 2020-2029.
Boris Johnson Wins in Landslide & Christine Lagarde Wants to Be an "Owl"...
This week, U.S. stocks hit new record highs, amid hopes of a phase one trade deal with China. There also seems to be more certainty about Brexit after Boris Johnson's landslide victory in the UK election. And in other global news, Christine Laguarde held her first press conference as the new head of the ECB. She wants to be an owl...
Commerce Secretary Comments on USMCA
A deal between deal between the White House and House of Representatives on the United States-Mexico-Canada Agreement has been announced. U.S. Secretary of Commerce Wilbur Ross said in a statement: "passage of the USMCA continues to gain momentum, as leaders from Canada, Mexico, and our own congressional members have all now voiced strong support. I am encouraged by these developments"
Kevin O'Leary: Tariffs are Value-added Tax
Kevin O'Leary, Chairman of O'Shares ETF Investments, considers the real impact of tariffs on U.S. markets and highlights the importance of diversification heading into a new decade.
Turkey Deflation & Record Holiday Sales
As the Fed eyes its inflation target, Thanksgiving diners can expect "turkey deflation." In this special holiday report, we also cover the National Retail Federation's expectation for record sales and the CEO's comments on the U.S. consumer and the strength of the economy.
Stocks Hitting Records as Yield Curve Steepens
As the yield curve steepens, equity markets are hitting record highs. The Data Analytics team at Bank of America Merrill Lynch looked at macro factors and found that rates - especially credit spreads and the 2-10 year yield curve - matter the most for US stocks. Equity and Quant Strategist Toby Wade says quote “the yield curve now explains returns for a much larger pool of US stocks.”
Strong Jobs Report Beats Expectations
The U.S. added 128,000 jobs in October, beating expectations by a long shot, despite the GM strike. The strong report supports the Fed's messaging at the economy is in a good place.