Connect with us

CNBC

Market is entering one of the year’s toughest periods, CFRA’s Sam Stovall warns

Avatar

Published

on

The next three months may be anything but calm.

CFRA’s Sam Stovall warns the market is entering one of the toughest periods of the year. 

“The third quarter is by far the weakest of the four quarters of the year — gaining only 0.5% on average,” the firm’s chief investment strategist told CNBC’s “Trading Nation” on Monday.

Stovall builds his case based on data going back to 1945. During the other quarters, he finds, the S&P 500 sees average returns of 2% to almost 4%. 

His analysis comes two days before 2020’s second half begins and while coronavirus infections rise

“The biggest risk is the number of cases of the Covid virus spiking once again, because of the cascading effect that it would have on corporate profits and the uncertainty that it would present toward the election in November,” Stovall said.

Despite 2020’s unprecedented downturn, Stovall says he believes the weaker historical trend will apply this year, too. He contends the market pullback that began on June 8 hasn’t ended yet.

“We’ve been stumbling along the way. We had a 7% pullback,” he said. “Sometime in the third quarter we end up concluding this correction with a little deeper sell-off.”

His S&P 500 level to watch is 2,850, which implies another 7% drop based on Monday’s close.

But earnings season may buy investors some time.

According to Stovall, second-quarter earnings estimates are so low, they should beat the Street and serve as a short-term bullish driver. So, July may emerge as a stronger month for the market with August and September seeing the most trouble. 

Yet, his forecast isn’t all doom and gloom.

Stovall expects the market and economy to successfully recover from the virus fallout and seasonal woes.

“Twelve months from now I think we’re going to be in new high territory,” Stovall said. “Once we do actually see the economy improve, once we do get justification of 2021 earnings projections for a 30%-plus advance in corporate profits, then I think the market will be able to work its way higher.”

In a year, Stovall predicts, the S&P 500 will be at 3,435 — a 1% gain from the all-time high hit in February.

Disclaimer

Source: https://www.cnbc.com/2020/06/29/market-is-entering-one-of-the-years-toughest-periods-sam-stovall.html

CNBC

Facebook clarifies hate speech policies following Oversight Board recommendations

Avatar

Published

on

As the company has done a handful of times in the past, Facebook has agreed to change one of its policies following a ruling from the Oversight Board. In response to a decision the panel came to on a video involving two individuals wearing blackface, the company says it will tweak the policy rationale section of its community guidelines on hate speech to add more context on why it prohibits harmful stereotypes. “We want our policies to be consistent, and we do not often publish rationales for each specific policy line in our Community Standards,” Facebook says. It notes it’s now reconsidering its previous stance.

The company also plans to do a better job when notifying people that they’ve violated its rules. This is something the Oversight Board has returned to multiple times in its decisions. “We’ve made some progress on our hate speech notifications using an additional classifier that is able to predict what kind of hate speech is contained in the content,” Facebook says. 

As things stand, the company has deployed updated notifications for English-speaking users that include messaging specific to their infraction. So if Facebook removes someone’s content because of the inclusion of blackface, the message points outs the post was dehumanizing. “We’ll continue to explore more granularity and expand these notifications for hate speech to other languages in the future,” the company said. It also plans to roll out that same feature to Instagram sometime in the next few months and says it will continue to explore how to make its content policy notifications more transparent.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.engadget.com/facebook-oversight-board-hate-speech-194501894.html

Continue Reading

CNBC

‘Friends: The Reunion’ hits HBO Max on May 27th

Avatar

Published

on

Friends fans won’t have to wait much longer to see Jennifer Aniston, Courteney Cox, Lisa Kudrow, Matt LeBlanc, Matthew Perry and David Schwimmer reunite. HBO Max will begin streaming Friends: The Reunion on May 27th, WarnerMedia announced on Thursday. The unscripted special will see the six star return to the original soundstage where NBC filmed the popular sitcom between 1994 and 2004.

Besides the original cast, the special will feature a long list of guests. To name just a few of the more notable names, BTS, Kit Harington, Lady Gaga and Malala Yousafzai will be there. Fans can also look forward to some of the supporting cast making an appearance, including both Elliott Gould and Christina Pickles (Jack and Judy Geller, respectively), Tom Selleck (Dr. Richard Burke) and Reese Witherspoon (Jill Green).

When WarnerMedia first announced the special at the start of last year, the plan was to film in front of a live audience in March and then start streaming it in May. It was supposed to be one of the first things that HBO Max customers could watch on the service when it launched that same month. But then the coronavirus pandemic delayed production twice.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.engadget.com/friends-the-reunion-may-27-hbo-max-184011434.html

Continue Reading

CNBC

Amazon detective show ‘Bosch’ returns for its final season on June 25th

Avatar

Published

on

Streaming-only shows tend to only last for a few seasons, but Amazon Prime Video’s Bosch has had a longer run than most. The detective drama will wrap up its run with a seventh season, which premieres on June 25th. 

The season is centered around an arson fire in which a young girl dies. Detective Harry Bosch then puts it all on the line to bring her killer to justice. A teaser trailer shared by Amazon promises an explosive finale (quite literally) to the show.

Several Netflix shows have run for seven seasons, including Orange is the New Black, The Ranch and the upcoming final season of Grace and Frankie, so having such a long run isn’t rare, but it’s not exactly common either. This won’t completely be the end of the road for Bosch, however. An IMDb TV spin-off series is in the works.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.engadget.com/amazon-prime-video-bosch-season-seven-premiere-date-181958971.html

Continue Reading

CNBC

Biden warns against panic buying as Colonial Pipeline slowly comes back online

Avatar

Published

on

US President Joe Biden speak about the Covid-19 response and the vaccination program in the State Dining Room of the White House on May 4, 2021.

Nicholas Kamm | AFP | Getty Images

WASHINGTON — President Joe Biden on Thursday cautioned Americans against the temptation to start “panic buying” fuel in the wake of a ransomware cyberattack on Colonial Pipeline, which has crippled gas delivery systems in Southeastern states.

Biden also warned fuel providers in the affected states not to gouge customers.

“Don’t panic,” Biden said in a speech at the White House. “I know seeing lines at the pumps or gas stations with no gas can be extremely stressful. But this is a temporary situation.”

“Do not get more gas than you need the next few days,” the president said. “Gasoline supply is coming back online, and panic buying will only slow the process.”

Biden then admonished gas stations: “Do not try to take advantage of consumers during this time.” He vowed to work with governors to help stop price gouging wherever it arises.

“Nobody should be using this situation for financial gain,” the president said.

Colonial restarted operations Wednesday afternoon but said the delivery schedule won’t return to normal for several days.

Energy Secretary Jennifer Granholm tweeted Thursday morning that Colonial Pipeline’s restart “went well overnight,” and “this should mean things will return to normal by the end of the weekend.”

But gas analyst Patrick De Haan predicted that mid-Atlantic states could continue to see shortages at the gas pump for the next week, while supply catches up with demand.

Biden’s remarks come a day after the president signed an executive order mandating significant changes to government cybersecurity standards, aimed at strengthening the nation’s cyber defenses in critical sectors of the economy.

The president’s order creates more stringent reporting requirements for companies that are targeted by cyberattacks, like Colonial Pipeline, especially if the company interacts with government IT systems.

The order also calls on the federal government and private sector to work together to combat “persistent and increasingly sophisticated malicious cyber campaigns.”

The latest moves by the Biden administration represent what the White House says is a large-scale government mobilization to respond to the crisis, which began when Colonial Pipeline informed federal agencies Friday that it had been the target of a ransomware attack.

The assault forced the company to shut down approximately 5,500 miles of pipeline, leading to a disruption of nearly half of the nation’s East Coast fuel supply.

The attack on Colonial Pipeline has been traced to a hacker group called the DarkSide, an organized group of hackers set up along the “ransomware as a service” business model. This means the DarkSide hackers develop and market ransomware hacking tools and sell them to other criminals, who then carry out attacks.

DarkSide is believed to operate out of Russia, but the White House has said it has no evidence so far that the attack was state-sponsored or directed by the Kremlin.

— CNBC’s Pippa Stevens contributed to this report. CNBC’s Kevin Breuninger reported from New York City.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cnbc.com/2021/05/13/colonial-pipeline-update-biden-warns-against-panic-buying.html

Continue Reading
Aviation5 days ago

JetBlue Hits Back At Eastern Airlines On Ecuador Flights

Blockchain5 days ago

“Privacy is a ‘Privilege’ that Users Ought to Cherish”: Elena Nadoliksi

AI2 days ago

Build a cognitive search and a health knowledge graph using AWS AI services

Energy3 days ago

ONE Gas to Participate in American Gas Association Financial Forum

Blockchain1 day ago

Shiba Inu: Know How to Buy the New Dogecoin Rival

SaaS5 days ago

Blockchain2 days ago

Meme Coins Craze Attracting Money Behind Fall of Bitcoin

Blockchain4 days ago

Yieldly announces IDO

SaaS5 days ago

Esports3 days ago

Pokémon Go Special Weekend announced, features global partners like Verizon, 7-Eleven Mexico, and Yoshinoya

Blockchain5 days ago

Opimas estimates that over US$190 billion worth of Bitcoin is currently at risk due to subpar safekeeping

Fintech3 days ago

Credit Karma Launches Instant Karma Rewards

Esports2 days ago

Valve launches Supporters Clubs, allows fans to directly support Dota Pro Circuit teams

Blockchain2 days ago

Sentiment Flippening: Why This Bitcoin Expert Doesn’t Own Ethereum

Esports1 day ago

‘Destroy Sandcastles’ in Fortnite Locations Explained

SaaS5 days ago

Esports3 days ago

How to download PUBG Mobile’s patch 1.4 update

Business Insider3 days ago

Bella Aurora launches its first treatment for white patches on the skin

Esports4 days ago

5 Best Mid Laners in League of Legends Patch 11.10

Cyber Security4 days ago

Top Tips On Why And How To Get A Cyber Security Degree ?

Trending