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The S&P 500 and Dow Jones Industrials gave back some of last week’s gains on Monday, as investors worried about the possibility of a second wave of coronavirus infections with the reopening of several economies. Germany and South Korea reported a surge in new COVID-19 cases on Sunday, in an ominous sign for all countries …
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Face masks, temperature checks and packaged sandwiches could all become part of the daily routine for bankers as their employers work out how to get them safely back into the office. While a growing number of countries are starting to ease lockdowns to contain the coronavirus pandemic, the threat of a new wave of infections …
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US stocks rose again Tuesday as Wall Street held onto hopes that the global economy may soon emerge from its coronavirus-induced coma. The Dow Jones industrial average climbed as much as 378.46 points, or 1.5 percent, to 24,512.20, putting the blue-chip index on pace for its fifth straight day of gains. The S&P 500 and …
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US stocks posted tentative gains early Friday as Wall Street tried to end a rocky week on a high note. The Dow Jones industrial average climbed as much as 202.63 points, or 0.8 percent, in early trading but pared the gain to just 12.02 points as of 10:14 a.m. The S&P 500 jumped as much …
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Hedge funds just weathered what might be their worst month ever, with some of the industry’s biggest names getting hit the hardest. Panicked investors yanked roughly $33 billion from hedge funds during the first quarter as the coronavirus pandemic rocked the global economy. Data from Hedge Fund Research released late Wednesday shows that net outflows …
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US stocks attempted to shrug off another surge in unemployment filings on Thursday only to slip back into negative territory by the afternoon. The Dow Jones industrial average climbed as much as 62.01 points, or 0.2 percent, at the open before dropping as much as 292.97 points, or 1.2 percent, in midday trading after being …
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Paul Singer’s Elliott Management said global stocks could tumble further, ultimately losing half or more of their value from February’s high, as the world braces for the deepest recession since the 1930s-era Great Depression. The New York-based hedge fund firm, in a letter to clients on Wednesday seen by Reuters, wrote that the sharp market …
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Morgan Stanley boss James Gorman said he’s “been fortunate” despite getting sick with the coronavirus last month, and that his recent decision not to lay off employees amid a looming recession was a no-brainer. The crisis took a personal turn at Morgan Stanley last week when Gorman, the bank’s 61-year-old chief executive, disclosed to employees …
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Goldman Sachs chief executive David Solomon signaled on Wednesday he’s working on the “assumption” that the coronavirus-driven recession will continue at least through the end of this year. After seeing the $80 billion bank’s first-quarter profit nearly cut in half by the pandemic, CEO Solomon kicked off Goldman’s earnings call on a somber tone, making …
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Bank of America chief Brian Moynihan has spent a decade preparing his megabank for the next financial crisis, but he still wasn’t fully prepared for the coronavirus pandemic. On a Tuesday morning call with reporters discussing first-quarter results, the chief executive said his $2.3 trillion bank is ready to weather the unprecedented COVID-19 outbreak, but …
The S&P 500 and Dow Jones Industrials gave back some of last week’s gains on Monday, as investors worried about the possibility of a second wave of coronavirus infections with the reopening of several economies. Germany and South Korea reported a surge in new COVID-19 cases on Sunday, in an ominous sign for all countries …
