Dangerous disconnect in market to harm investors: investor David Tice

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Long-time bear David Tice believes the market has become a house of cards.

The AdvisorShares Ranger Equity Bear ETF manager warns unprecedented Federal Reserve policies designed to mitigate the coronavirus fallout is creating major damage.

“I find the biggest disconnect that we’ve ever seen in my 35-year history of watching Wall Street between fundamentals of the economy and the stock market,” he told CNBC’s “Trading Nation” on Thursday. “Markets need to be markets, and we can’t have that kind of intervention.”

Even though Tice believes it was necessary for the Fed help the market and economy, he believes they went

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Smith & Wesson, Hertz, Marathon Petroleum and more

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Guests look over pistols in the Smith & Wesson booth at the 148th NRA Annual Meetings & Exhibits on April 27, 2019 in Indianapolis, Indiana.

Scott Olson | Getty Images

Check out the companies making headlines after the bell.

Hertz — The car rental company’s stock fell about 2% in extended trading after the bankrupt company said Thursday that it was terminating its controversial sale of up to $500 million in stock. Trading on the stock was halted ahead of the announcement. Hertz previously said Wednesday that it was suspending the stock sale after the SEC expressed concern over the

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Stock futures rise slightly as Wall Street tries to end the week on a high note

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People walk by the New York Stock Exchange (NYSE) on May 18, 2020 in New York City.

Spencer Platt | Getty Images

U.S. stock futures opened slightly higher on Thursday night following a muted session in which traders grappled with disappointing unemployment data and rising coronavirus cases.

Dow Jones Industrial Average futures gained 30 points, or 0.1%. S&P 500 and Nasdaq-100 futures were also just above the flatline. 

The Dow closed just below the flatline during the cash session, while the S&P 500 and Nasdaq eked out small gains. The major averages gyrated between gains and losses for most of

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California, Arizona, Florida report record spikes in coronavirus cases

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Kayenta Health Center staff prepare to practice with a new shield that just arrived to help protect medical workers when they intubate patients, in Kayenta, Ariz.

Carolyn Kaster | AP

Arizona, Florida and California all reported record-high single-day increases in coronavirus cases on Thursday as testing increases and the virus spreads throughout new communities. 

Arizona health officials reported 2,519 confirmed cases on Thursday, surpassing the previous single-day high of 2,392 reported on Tuesday. Florida officials announced 3,207 new cases Thursday morning, shattering the state’s previous single-day high of 2,783 new cases also reported on Tuesday. California officials reported Thursday 4,084

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