Month: September 2020

‘Incredible economic momentum’ will drive stocks in Q4: Jim Paulsen

spike 4 months ago

The Leuthold Group’s Jim Paulsen considers Wall Street pessimism overdone.

From the latest consumer confidence numbers to booming home sales, the firm’s chief investment strategist believes Main Street is accurately reflecting an unprecedented rebound, and investors will soon take notice.

“A lot of good things happening here as we enter the fourth quarter,” Paulsen told CNBC’s “Trading Nation” on Wednesday. “The first one is just incredible economic momentum heading into this last quarter of the year.”

Even though the third quarter was positive for the major indexes, September was a losing month. The S&P 500 fell by 4% while

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Stock futures flat as investors brace for final quarter of 2020

spike 4 months ago

U.S. stock futures were flat in overnight trading, as investors braced for the start of the fourth quarter with hopes of fiscal stimulus. 

Dow futures fell 30 points. S&P 500 futures and Nasdaq 100 futures dropped 0.18% and 0.12%, respectively. 

The House of Representatives delayed the vote on a $2.2 trillion rescue package on Wednesday evening after House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed to strike a coronavirus aid deal; however, the pair said the conversation would continue. 

The Federal Reserve said Wednesday it is extending the restrictions on big bank dividends and buybacks through the

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Coinbase CEO offers severance to employees leaving over politics

spike 4 months ago

Coinbase CEO Brian Armstrong

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Coinbase is offering to pay employees who decide to quit the cryptocurrency company after it discouraged employee activism and discussing of political and social issues at work.

CEO Brian Armstrong told Coinbase staff in an email that the company would offer severance packages for anyone “who doesn’t feel comfortable with this new direction.” The pay packages range from four to six months, depending on how long an employee had been with the company. 

“Life is too short to work at a company that you aren’t excited about,” Armstrong said in the email, which was

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Fed’s Daly calls for more fiscal help to get the economy out of a ‘big ditch’

spike 4 months ago

The U.S. economy needs more help from the fiscal side to recover from the ongoing impact of the coronavirus pandemic, San Francisco Federal Reserve President Mary Daly said Wednesday.

With the White House and congressional leadership still trying to work out details of an aid package, Daly likened the rescue funding so far to a bridge that has helped growth recover somewhat but still needs to be extended.

“We are not out of those woods yet, so we need a longer bridge,” the central bank official said on CNBC’s “Closing Bell.” “Along with what the Federal Reserve has done, we

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