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Business Ideas Article
Dow 15,000 very likely as coronavirus pandemic hits U.S. economy: strategist
Veteran markets strategist James McDonald, CEO of Hercules Investments, is staying with a call that he has had throughout the coronavirus pandemic fueled bear market, now going on two months.
That is, at least one more major course correction is ahead for equities as investors realize — once and for all — the U.S. economy is in a severe recession that won’t end anytime soon. It’s a call he has reiterated several times as a guest on Yahoo Finance’s The First Trade.
By McDonald’s math, he continues to see downside risk to the Dow Jones Industrial Average to 15,000 from its current perch just above 21,000. He thinks the economy could begin to show signs of life in the fourth quarter of this year — but until that starts to show up somewhere in the markets or economic data, he prefers putting on trades that profit from extreme volatility and
Unemployment surges to 4.4%, NYC surpasses 50K cases
The coronavirus pandemic surged past 1.03 million cases and 54,000 deaths Friday. The U.S. leads the world, with more than 257,000 cases and more than 6,500 deaths.New York City surpassed 50,000 cases Friday, putting it far ahead of other major cities as a center of...
Banks were not prepared for flood of small business coronavirus relief applications
The Trump administration’s emergency $349 billion Paycheck Protection Program to help small businesses cover their payroll costs was set to roll out on Friday, with banks accepting applications from businesses slammed by coronavirus. (Applicants must have fewer than...