Monday, July 26

While politicians squabble, New York schools make their own plans

Should the schools stay closed until the pandemic is finally beaten? Or should the doors swing open as if all the danger has disappeared? As the politicians and pundits leap one way or the other, people on the front lines of America’s largest public-school system are speaking out from hard experience: Only a politician or a pundit would choose either of those simple-minded extremes. “ “Every parent I know is freaking out.” ” — Sarah Garland, executive editor of the Hechinger Report and a Brooklyn mom ...

Whiting Petroleum Is Mathematically a True Gamble

Even if you're not at all interested in Whiting Petroleum (NYSE:WLL) or in the oil industry in general, you'll want to read this article. If I may be blunt, most of the discussion centering around WLL stock focuses on it being a dangerous investment. But the more interesting question is why it's so dangerous. Answering this will reveal a fundamental reality behind all investments. Source: Shutterstock First, I want to emphasize that WLL stock is indeed a risky play. As InvestorPlace contributor Laura Hoy described it, Whiting is “pointless”For most investors. Obviously, the company is bankrupt. Typically, there's a reason for that and it's rarely if ever a good one. As well, when the firm eventually emerges from bankruptcy, stakeholders will only receive 3% of the newly ...

Trump sees no possibility of second trade deal with China

President Donald Trump on Friday said there was no possibility of a second trade deal with China. "I don't think about it now. The relationship with China has been severely damaged," Trump said, in a conversation with reporters on Air Force One on a flight to Florida. The president blamed the pandemic for the breach in bilateral ties. "They could have stopped it. They didn't," he said, according to the pool report of the conversation.

SoFi Makes Second Attempt to Start Its Own Bank

Financial-technology startup Social Finance Inc. is taking another shot at the banking business. The San Francisco-based company run by former Twitter Inc. executive Anthony Noto filed an application with regulators this week to create SoFi Bank, a Utah-based bank of which it would be the sole owner. SoFi Bank would offer student loan refinancings,...

All the new kids’ shows you can watch on Disney Plus — from’Vampirina’ to the latest season of’Star Wars: The Clone Wars’

When you buy through our links, we may earn money from our affiliate partners. Learn more. Disney+/Business Insider Every parent knows that the Disney Channel, Disney Junior, and DisneyXD are the go-to channels when they need to keep their kids entertained.It's a useful parenting tool; flipping on a show is an easy way to keep your child engaged while you take the opportunity to make dinner, pay the bills, or take a much-needed shower. A short show, like "Mickey Mouse Clubhouse" or "Jake and the Never Land Pirates," can buy you just enough time. Building upon the lineup found on Disney's various channels, the new Disney Plus streaming service now offers on-demand access...

The SPY ETF Proves Simpler Is Often Better

The SPDR S&P 500 ETF (NYSEARCA:SPY) is often highlighted for its status as the world's largest exchange-traded fund, but the SPY ETF has more to offer besides heft. At a time when some fund options are increasingly complicated, SPY's simplicity stands out. Source: Shutterstock Let's start with the basics. The SPY ETF comes with a modest fee of 0.0945% per year, or $9.45 on a $10,000 investment. As its name implies, it follows the S&P 500 — One of the world's most widely observed equity benchmarks. To be precise, SPY holds 505 stocks, owing to multiple share classes for constituents such as Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) and a few others. The S&P 500 is weighted by market capitalization, meaning the largest US-based compan...

When Wall Street stock analysts scream ‘buy,’ the smart money is already way ahead of them

Don’t turn to Wall Street analysts to get insight on which companies to buy or sell. I say that because these stock analysts tend to be followers than leaders. They all too often downgrade a stock after it has already fallen, and then upgrade it after it has rallied. They give new meaning to the phrase “closing the barn door after the horses have left.” Consider three of the biggest S&P 500 US:SPX stocks that have been leading the U.S. market higher since the March lows: Alphabet (Google) US:GOOGL , Apple US:AAPL and Facebook US:FB . They on average have nearly doubled the S&P 500’s return since the end of March, by a margin of 42% to 23%. As you can see from the accompanying chart, the analyst community ...

Financial Stocks: 3 Financial ETFs to Buy for Profits ARKF PSCF BIZD | InvestorPlace

Pressured by low interest rates, financial stocks are disappointing investors in a big way this year. For example, the Financial Select Sector SPDR Fund (NYSEARCA:XLF) – The largest financial ETF – is down 25.37% year-to-date while the S&P 500 is off just 3%. Low interest rates suppress banks' net interest margins (NIM), or the difference between the interest banks make on loans and what must be paid out to depositors. The depressed NIM scenario was an issue for banks last year, but it was exacerbated earlier this year when the Federal Reserve took rates to near zero in response to the novel coronavirus pandemic. The erosion in market value in the financial services sector is palpable. As recently as last year, the group was the third-largest sector weight in the S&P 500. These...

Facebook glitch causes outages for iOS users on Spotify, Tinder and other popular apps

A number of popular apps such as Spotify SPOT, +1.25% and Tinder experienced outages on Friday because of what Facebook Inc. FB, +0.23% said was a bug in its software for iPhone users. The issue relates to Facebook’s software development kit, or SDK, which many developers embed into their apps to allow people to use certain services connected to Facebook. Some apps, such as Spotify, allow users to log into their services using Facebook accounts.

How major US stock indexes fared Friday

Stocks closed broadly higher on Wall Street Friday as the S&P 500 notched its third weekly gain in the last four. The benchmark index's biggest gains came from cruise operators, airlines, banks and other companies that most need the economy to reopen and strengthen. The technology-heavy Nasdaq Composite hit a new all-time high. The Russell 2000 index of small-cap stocks also recorded a solid gain, and Treasury yields erased an early dip. On Friday: The S&P 500 rose 32.99 points, or 1.1%, to 3,185.04. The Dow Jones Industrial Average gained 369.21 points, or 1.4%, to 26,075.30. The Nasdaq Composite added 69.69 points, or 0.7%, to 10,617.44. The Russell 2000 index of small company stocks picked up 23.76 points, or 1.7%, to 1,422.68. For the week: The S&P 500 gained 55.03 points, or...