Finance

The stock market has gone so haywire amid the coronavirus crisis that some strategists on Wall Street are giving up on forecasting what comes next. Over the past week or so, chief market strategists at BMO, Oppenheimer and Canaccord Genuity have all suspended their year-end targets on the S&P 500, blaming the unprecedented economic uncertainty that makes projecting
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Stock futures dipped in overnight trading on Tuesday as the markets remained highly volatile with the government response to the coronavirus fallout unfolding. Futures on the Dow Jones Industrial Average fell about 150 points, pointing to a 300-point loss at Wednesday’s open. The S&P 500 futures were also down. Stocks rebounded Tuesday from their deepest
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Chesnot | Getty Images Investors likely won’t get their fix for newly public companies for a long time thanks to the financial turmoil caused by the spreading coronavirus.  Logistics issues aside for investment bankers unable to travel, market volatility like this scares off companies who want to raise capital. The initial public offering calendar is
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Stock futures tumbled in overnight trading Sunday as investors continued to brace for the economic fallout from the spreading coronavirus, while a shocking all-out oil price war added to the anxiety. Futures on the Dow Jones Industrial Average plunged more than 900 points. The S&P 500 futures also indicated a 4% drop at the open on
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Klarna CEO Sebastian Siemiatkowski attends the launch of the online payment start-up’s pop-up store in London. Dave Benett | Getty Images for Klarna Ant Financial, the payment affiliate of Chinese e-commerce giant Alibaba, has invested in Swedish financial technology start-up Klarna as part of a global partnership between the two firms. Klarna said Wednesday that
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Canaccord Genuity’s Tony Dwyer warns that recession odds are growing. Dwyer sees the coronavirus outbreak putting the U.S. economy on thin ice. “If you shut down some of these major cities from business activity, you’re going to go into a supply shock and even a demand shock short-term recession,” the firm’s chief market strategist told
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