Brendan McDermid | Reuters It might be premature to declare the bear market dead, but Thursday’s action sure checked off some important boxes. Conventional Wall Street wisdom is that bear markets, or 20% declines from 52-week highs, die on bad news, and Thursday featured some of the worst the U.S. economy has ever seen. Nearly
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Hedge fund manager Paul Tudor Jones told CNBC on Thursday the market could be higher by June despite what he sees as a turbulent month ahead. “My guess is one of the reasons the market’s up right now is because of all the month-end rebalancing. The market’s front-running, it sees the fact that there are going to
Stocks’ swift and steep sell-off is providing the type of buying opportunity that doesn’t come around all that often, and investors should take advantage of the downturn, according to Ariel Investments’ chairman John Rogers. “I think this is a maybe once in a lifetime opportunity to buy stocks at bargain prices,” he said Wednesday night
Source: Morgan Stanley Morgan Stanley, one of the world’s biggest wealth managers, said its online trading portal for wealthy clients went down on Wednesday. The bank’s message for clients was to call a service representative to place trades, rather than using the company’s website. A spokeswoman for the New York-based firm declined to immediately comment.
Ben Bernanke Katie Kramer | CNBC Ben Bernanke, the former Federal Reserve chairman who served before and after the 2008 financial crisis, told CNBC on Wednesday that the coronavirus economic halt is more like a natural disaster than a classic depression. “It’s really much closer to a major snowstorm or a natural disaster than it is