Futures contracts tied to the major U.S. stock indexes rose Monday evening as investors looked to extend Wall Street’s gains from Monday’s dramatic comeback.
Dow Jones Industrial Average futures rose 448 points, suggesting an open gain of nearly 495 points when regular trading resumes on Tuesday. S&P 500 and Nasdaq-100 futures also implied a positive Tuesday start for the two indexes.
Delta has aggressively pursued investments in foreign airlines in recent years to help grow abroad.
The carrier posted charges of more than $2 billion related to those soured investments.
International air travel demand has plunged in the pandemic due to weak demand and travel restrictions.
It’s common for initial public offerings to include minority-, women- and veteran-owned business enterprises as underwriters.
But a CNBC analysis found those “MWVBE” firms’ fees are about 12 cents on the dollar — when compared with other smaller firms with “passive” roles.
On average, between 2016 and the first half of 2020, MWVBE’s received 0.69 percent of the fee pool, the CNBC analysis found, using S&P Global Market Intelligence data.
Wharton finance professor Jeremy Siegel expects a game changer.
He predicts a coronavirus vaccine is closer than the market thinks.
“We’ve had almost no setbacks in the schedule developing the vaccine, and I think that’s where upside surprises can occur,” Siegel told CNBC’s “Trading Nation” on Tuesday. “We may find ourselves with a workable vaccine for high risk individuals by the end of the fall, early winter.”
President Donald Trump said Tuesday that he signed legislation to impose sanctions on China in response to its interference with Hong Kong’s autonomy.
Trump also said in the White House Rose Garden that he signed an executive order ending the preferential treatment that Hong Kong has long enjoyed.
The Trump administration has previously blamed China for the unfolding health crisis caused by the coronavirus, and it has criticized Beijing for its illegal territorial claims in the South China Sea.
Wall Street’s top traders say a combination of unprecedented monetary and fiscal stimulus appears to have pacified the market.
Stanley Druckenmiller and Paul Tudor Jones both said this week that the S&P 500′s robust rally since March has humbled them.
An unparalleled response from the Fed and Congress has provided businesses with one of the most powerful safety nets ever, says strategist Quincy Krosby.
U.S. regulators have long sought more transparency from Chinese companies with shares trading on U.S. exchanges, but Beijing has resisted.
More than a decade ago, hundreds of Chinese companies went public in the U.S. via reverse mergers, merging into public but mostly dormant U.S. companies, and many turned out to be frauds.
Efforts to solve the problem are getting more traction due to the escalation of trade disputes with China.
Manhattan apartment sales in the second quarter fell by 54%, the largest percentage decline in 30 years, according to a report from Miller Samuel and Douglas Elliman.
The median sales price fell 18% to $1 million, which is the biggest decline in a decade.
There were only 1,147 sales in the quarter — the lowest number on record, according to Compass.
Walmart is launching Walmart+ in July, according to a report by Vox’s Recode.
The subscription-based program will compete with Amazon Prime.
Walmart has not released details about Walmart+ and the perks it will use to stand out from competitors.
Wells Fargo is now requiring new customers to bring at least $1 million in balances if they want to refinance a jumbo mortgage, up from a previous level of $250,000, according to people with knowledge of the policy.
The change came in a July 1 overhaul of lending guidelines that broadly lowered barriers to the product for existing customers, while making it far harder for new ones to qualify, said the people, who declined to be identified speaking about the move.
“They don’t want to take somebody else’s balance sheet and put it in on theirs,” said one of the sources. “We’re very busy and they wanted to slow down the number of loans coming in.”
