Time to turn bullish on global stocks despite coronavirus risks: UBS

spike

It may be time to add global exposure to your portfolio.

UBS Global Wealth Management’s Alejo Czerwonko sees upside going abroad despite a surge in coronavirus cases.

“We expect them to be fairly well-handled by health systems worldwide,” the firm’s emerging markets strategist told CNBC’s “Trading Nation” on Tuesday. 

Czerwonko is building his bull case on the ultimate success of vaccine and therapy developments.

“This has continued to support risk assets,” he said.

He upgraded global stocks to “most preferred” or overweight from neutral about a week ago, citing unprecedented government policies designed to cushion the pandemic’s impact.

“We’ve seen

Read More

States might not need an ‘absolute shutdown’ again, Dr. Fauci says

spike

States with growing coronavirus outbreaks might not need to shut down again like many did in March, but they might need to consider pausing or rolling back stages of reopening, White House coronavirus advisor Dr. Anthony Fauci said Tuesday.

Fauci specifically cited Texas, Arizona, Florida and other states with “a serious problem” as places that might need to consider such measures. 

“I wouldn’t necessarily say an absolute shutdown, lockdown, but if someone is going from gateway to phase one to phase two and they get into trouble in phase two, they may need to go back to phase one,” Fauci, 

Read More

Dell, VMware, La-Z-Boy and more

spike

Facade with sign and logo at the La-Z-Boy furniture store in Pleasanton, California, April 16, 2018.

Smith Collection | Gado | Getty Images

Check out the companies making headlines after the bell.

Dell Technologies, VMware — Shares of Dell Technologies and VMware spiked 18% and 10% respectively in after-hours trading on a report that Dell is looking at options for its $50 billion stake in the information technology company. The options include spinning off its 81% stake or buying the rest of VMware, according to the Journal.

La-Z-Boy — The furniture manufacturer’s stock whipsawed in extended trading after La-Z-Boy reported

Read More

Arizona reports record single-day increase in coronavirus cases ahead of Trump’s visit

spike

US President Donald Trump boards Air Force One prior to departure from Joint Base Andrews in Maryland, June 23, 2020, as he travels to Arizona to view the border wall and speak at a Republican student event.

Saul Loeb | AFP | Getty Images

The Arizona Department of Health reported nearly 3,600 additional Covid-19 cases on Tuesday, another record in additional daily cases, ahead of President Donald Trump’s scheduled appearances later in the day. 

Arizona is averaging about 2,500 daily new cases as of Monday, which is about a 94% increase since one week ago, according to a CNBC analysis

Read More