Defensive stocks are generally not tied to economic growth. JPMorgan reiterated its call to sell out of defensive assets and rotate into cyclical assets such as value stocks, commodity stocks and emerging markets. “The bubble we are describing is expressed in equity factors … We caution investors that this bubble will likely collapse, i.e. Kolanovic added some tech names are trading at “unsustainable valuations” supported by record level of speculative call option activity. “Value stocks are t

The influential Nevada Culinary Workers’ union declined to support any of the Democratic candidates ahead of the debate Wednesday night and the state’s caucuses this Saturday. Bloomberg’s media company, Bloomberg LP, is not unionized, though the legal research firm it acquired in 2011, Bloomberg BNA, does have a union. Bloomberg has also drawn anger from the teachers unions for his support of charter schools, which the groups say drain public schools and educators of resources. Biden, who has pe

The coronavirus may significantly weaken a global economy that was already in a precarious position, Yale University’s Stephen Roach told CNBC on Wednesday. “If the global economy is as weak as I think it is in the first half of this year, that points to a pretty serious reckoning for frothy financial markets,” the former Morgan Stanley Asia chairman said on “Closing Bell.” Roach’s warning Wednesday comes hours after the International Monetary Fund’s leader called the coronavirus “most pressing

“I think that the impact is going to spread to Europe and the U.S.,” the portfolio manager said. Tesla climbed nearly 7% in Wednesday’s trading session while Virgin Galactic gained a whopping 23%. “I would encourage investors to have more of a globally diversified way to play thematics as opposed to picking individual stocks,” Davi said. “Some people are using LIT as a way to kind of play the Tesla story in an exchange-traded, diversified wrapper,” Davi said. “It’s a risk management issue: putti

Check out the companies making headlines after the bell:Zillow — Shares of the real estate information company climbed 8% in extended trading after the company reported strong fourth-quarter financial results. Pioneer Natural Resources — The oil and gas company’s stock climbed 2% during extended trading after the company reported strong fourth-quarter financial results and raised their cash dividend. Pioneer reported earnings of $2.36 per share excluding some items for the quarter, while analyst

Tesla gave shareholders a chance to trim their holdings and take some profits to the bank after the stock surged yet again, CNBC’s Jim Cramer said Wednesday. Cramer made the call after Tesla shares surged almost 7% to a new closing high. The firm now has the highest price target for Tesla on Wall Street. Given that move, Cramer reminded investors that they must stick to their principles saying: “discipline says that when a stock reaches your price target, you have to let some go. “Tesla’s now re

Goldman Sachs sounded the alarm on Wednesday to clients about a possible correction in the stock market, noting investors are underestimating how big of a risk the coronavirus really is. Investors have been grappling with the possible ramifications of the coronavirus outbreak in recent week. Oppenheimer thinks the market could be in trouble if earnings expectations aren’t ratcheted down. “Equity markets are looking increasingly exposed to near-term downward surprises to earnings growth,” Oppenhe

Wedding website The Knot recently released its annual Real Weddings Study for 2019, which included the 10 U.S. states where it’s most affordable to host a wedding. All 50 states were ranked based on the total average wedding cost, including the ceremony, reception and engagement ring. The top four states on the list — Utah, Wyoming, Montana and Idaho — are all located in the western part of the country with total average wedding costs under $20,000. Compared to the national average wedding cost,

In the report, 50% of Americans said they didn’t know whether buying a single company’s stock “usually provides a better return” than investing in a mutual fund. “They don’t understand the basics of interest rates, the basics of inflation and the basics of investing.” For the record, mutual funds usually provide better returns than investing in a single company’s stock because this strategy spreads out risk. Instead, they reflect the gains or losses of a broader sector or stock index, which is c

In order to stand out, Patel is putting forth a bold policy proposal that he calls “Universal Basic Income for Kids.” Patel proposes giving New York families a universal child allowance of $500 per month, for every child aged five and younger, and $350 per month for every child between the ages of six and 17. He says the system would be more efficient than existing programs aimed at helping families and could be expanded nationally. We have the Child Tax Credit, the Earned Income Tax Credit and

Democratic presidential candidate former Vice President Joe Biden speaks during a campaign event at Sun City Macdonald Ranch February 14, 2020 in Henderson, Nevada. Alex Wong | Getty ImagesKey fundraisers are jumping ship from Joe Biden’s struggling presidential campaign to instead support Mike Bloomberg’s ascending candidacy. The development comes amid growing concerns within Biden’s affluent donor network that the former vice president is struggling to convince voters that he can defeat Sen. B

Cloudflare CEO talks supplying 2020 candidates, enterprises with cloud securityJim Cramer chats with Cloudflare CEO Matthew Prince about the company’s mission to prevent cyber attacks and its latest quarterly report.

Self-made millionaire Tanner Chidester has figured out how to earn a lot of money: The 27-year-old has built two, seven-figure businesses, Fit Warrior and Elite CEOs , from scratch. “Maybe you’re really good at getting someone in shape, or you’re really good at running ads for companies. Maybe you do the best backflip in the world, or you’re really good at selling books. Find one skill you’re really good at, package that together into a service and sell it to people.” “What most people struggle

China plans to take over HNA Group Co and sell off its airline assets, as the coronavirus outbreak has hit the Chinese conglomerate’s ability to meet financial obligations, Bloomberg reported on Wednesday, citing people familiar with the matter. The government of Hainan, the southern province where HNA is based, is in talks to take control of the conglomerate, thereport said. HNA directly controls or holds stakes in a number of local carriers, including its flagship Hainan Airlines. HNA did not

A worker at a factory in Nanjing sorting face masks being produced to satisfy increased demand during China’s COVID-19 coronavirus outbreak, in China’s Jiangsu province. Two Iranians have died in hospital after testing positive for the new coronavirus in the holy Shi’ite city of Qom, the head of the city’s University of Medical Sciences told Mehr news agency on Wednesday. “Two Iranians, who tested positive earlier today for new coronavirus, died of respiratory illness,” the official told Mehr. I

Global growth will benefit after coronavirus: Bokeh Capital Partners CIOKim Forrest, founder and chief investment officer at Bokeh Capital Partners, and David Ellison, portfolio manager at Hennessy Funds, join ‘The Exchange’ to discuss markets.

Interest rates likely to remain unchanged, Fed’s meeting minutes showCNBC’s Steve Liesman breaks down the Federal Reserve’s meeting minutes. The Fed released minutes Wednesday from its Jan. 28-29 meeting at which it held interest rates steady. Markets look to the meeting summary for clues on how central bank officials feel about the future direction of policy.

Why the Ford Explorer is losing its top spot in midsize SUVsFord recently sold its 8 millionth Explorer, more than any SUV brand. However, the newest 2020 model faced challenges in its relaunch, including several recalls and an ambitious $1 billion plant renovation to build a brand new production line for the vehicle. Once the best-selling midsize SUV, the Explorer has since lost its leading position in the market, and Ford is scrambling to recover quickly from its declining performance in the l

Federal Reserve Chair Jerome Powell arrives for a news conference following the Federal Open Market Committee meeting in Washington, December 11, 2019. Though the coronavirus had just taken hold when the Federal Reserve met in January, officials already expressed concern about its potential economic impacts. “The threat of the coronavirus, in addition to its human toll, had emerged as a new risk to the global growth outlook, which participants agreed warranted close watching,” minutes released W

Karen Finerman was a buyer of Alibaba. Tim is short SPY. Karen Finerman is long FB spread calls. Karen Finerman is long SPY puts. Brian Kelly is Long Bitcoin, Ethereum, Oil, GLD.