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When Wall Streeters tell Jamie Dimon to get well soon, they mean it. As Washington rushes to prevent the coronavirus pandemic from becoming a bigger economic crisis than the 2008 mortgage meltdown, financial types are bemoaning the loss of their unofficial spokesman, JPMorgan’s straight-talking boss. Dimon, a born-and-bred New Yorker who lives on Park Avenue, …
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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, …
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US stocks surged Tuesday on signs that Congress is poised to pass a stimulus package worth as much as $2 trillion to offset the economic fallout from the coronavirus pandemic. The Dow Jones industrial average rose as much as 1,528.16 points, or about 7.6 percent, as lawmakers neared a deal with the Trump administration on the rescue …
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Goldman Sachs said on Monday it had injected more than $1.8 billion into two of its own money-market funds last week, updating a previously disclosed figure of about $1 billion. The transactions were spread over two days last week to keep the funds’ weekly liquidity levels above the US regulatory threshold of 30 percent. Goldman …
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The US economy has fallen into a recession because of the Chinese virus pandemic that will make for a “brutal” three months ahead, Bank of America warned Thursday. The bank expects the nation’s gross domestic product to plunge a record 12 percent in the second quarter of this year after meager growth of 0.5 percent …
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The Big Board’s famous trading floor is about to go dark. The New York Stock Exchange on Wednesday said its COVID-19 screening process has yielded two positive tests. As a result, the exchange said it will close its physical trading floor on Monday, March 23, and move to a fully electronic trading system. “They’re finally …
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The Dow has lost all the gains it amassed since President Trump took office more than three years ago, sinking on Wednesday as fears about the coronavirus kneecapping the economy tightened their grip on Wall Street. The Dow Jones industrial average got halted shortly after 1 p.m. by a marketwide “circuit breaker” as it plunged …
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Companies whose stocks have remained largely immune to the coronavirus could catch a nasty cold once the panic clears, experts warn. A handful of companies — from consumer staple companies to teleconferencing firms — have been cushioned from coronavirus-inspired stock blows so epic that the Dow’s longest bull run in history was officially declared dead last …
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Oprah Winfrey hasn’t just slimmed down with Weight Watchers — she’s slimmed down her role as the company’s spokeswoman. That’s the concern from Wall Street analysts, who fret that the billionaire media mogul has grown increasingly scarce in the weight-loss company’s marketing campaigns — despite her seat on the board and significant stake in the …
When Wall Streeters tell Jamie Dimon to get well soon, they mean it. As Washington rushes to prevent the coronavirus pandemic from becoming a bigger economic crisis than the 2008 mortgage meltdown, financial types are bemoaning the loss of their unofficial spokesman, JPMorgan’s straight-talking boss. Dimon, a born-and-bred New Yorker who lives on Park Avenue, …
