The SPDR S&P 500 (NYSE: SPY) finished off a difficult week on a low note Friday after another turbulent week on Wall Street. Here are eight potential catalysts ahead this week that could move the markets.On Wednesday, Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin will testify in front of the House of Representatives Financial Services Committee. Mnuchin and Powell's testimony is expected to focus primarily on the national response to the coronavirus outbreak.On Friday, the Labor Department will report U.S. jobs numbers from the month of June. The May jobs report was shockingly good, initially sending stock prices soaring.Investors will also be watching daily COVID-19 case numbers and potential responses from companies and states following record daily U.S. case numbers last week.The state of Texas was forced to roll back its reopening efforts due to a surge in coronavirus cases, and any further indication that the economy could...
Biotech stocks went on a seesaw ride along with the broader markets in the week ended June 26. Yet there were some encouraging developments on the COVID-19 vaccine development front. Vaccine companies are going all out, forging alliances and adding personnel that could help them be successful in their quest.Translate Bio Inc (NASDAQ: TBIO) rallied strongly earlier in the week on the back of news concerning an expansion of its vaccine development partnership with Sanofi SA (NASDAQ: SNY) but eventually gave back some of the gains following a secondary offering. Vaxart Inc (NASDAQ: VXRT), another COVID-19 vaccine play, rallied during the week.View more earnings on IBBThe FDA review machinery worked overtime, ruling on a host of investigational therapies. Three biopharma companies went public this week, raising a combined $485 million in gross proceeds.The following are key catalysts in the unfolding week:Conferences * Cantor Fitzgerald's Virtual Symposium: "Winning Ways to Treat Infections...
* This weekend's Barron's cover story profiles the 25 top chief executive officers of 2020. * Other featured articles look at the most sustainable companies; winners and losers as COVID cases spike; and Joe Biden picks. * Also, the prospects for a semiconductor leader, a computer hardware giant and more.The cover story "Meet Barron's Top CEOs of 2020" by Jack Hough presents 25 bosses who have navigated extraordinary challenges to keep their companies thriving, including Jeff Bezos of Amazon.com, Inc. (NASDAQ: AMZN) and Elon Musk of Tesla Inc (NASDAQ: TSLA). See who else made the cut.Evie Liu's "The 100 Most Sustainable Companies That Rank Best on Social Criteria" revisits Barron's annual ESG ranking of the 100 most sustainable companies. See how Adobe Inc (NASDAQ: ADBE), Delta Air Lines, Inc. (NYSE: DAL) and others fared on social issues.In "Three Companies That Place a High Priority on People," Sarah Max examines how Best...
(Bloomberg) -- A growing list of Facebook Inc.’s advertisers is set to halt spending on social media, undermining the company’s sales outlook and putting its stock price under further pressure.Starbucks Corp., Levi Strauss & Co., PepsiCo Inc. and Diageo Plc were among the most recent companies to say they’re curtailing ad spending, part of an exodus aimed at pushing Facebook and its peers to suppress posts that glorify violence, divide and disinform the public, and promote racism and discrimination.No single company can significantly dent growth at Facebook, which generated $17.7 billion in revenue last quarter alone. But a rising tally adds to pressure on other brands to follow suit, and when combined with a pandemic-fueled economic slowdown, the threat to Facebook deepens.“Given the amount of noise this is drawing, this will have significant impact to Facebook’s business,” Wedbush Securities analyst Bradley Gastwirth wrote in a research note. “Facebook needs to address...
The billionaire tech chief warned that the school system needs to be prepared for the fall, especially if a new wave of COVID infections swamps the U.S....
