Michael Antonelli, Baird PWM Market Strategist, joined Yahoo Finance's Jen Rogers, Myles Udland, and Andy Serwer to recap today's market action and what to expect from the markets this week. ...
Exxon Mobil Corp on Monday raised $9.5 billion in new debt, with the largest U.S. oil producer seeking to bolster its finances while debt markets remain open to new deals. Exxon paid a lower price to borrow than it did in a similar debt deal almost four weeks ago, a sign of how investor confidence is gradually returning after a rout in energy prices and a stock market collapse fueled by the coronavirus outbreak. Exxon raised $9.5 billion by selling five different bonds with a variety of durations ranging from five years to 31 years, up from $9 billion which it had originally planned to raise, indicating robust investor demand....
Leon Cooperman of Omega Advisors shared his view about the stock market's direction with the viewers of CNBC's "Fast Money Halftime Report."The 2,187 level in the S&P 500 represents the low for the cycle, Cooperman said, adding that he doesn't predict big upside.Many problems lie ahead, the CEO said, adding that corporate earnings are going to be less than people would have expected; demand will likely return slowly; there is more debt to be serviced; and more compliance costs.Companies are likely going to use equity issuance to replace lost capital and end stock repurchases for the foreseeable future, Cooperman said.Investors should keep in mind that margins are mean reverting and were at record highs in January, he said. See Also: Leon Cooperman Weighs In On Chamath Palihapitiya's Take On Government BailoutsCooperman's Predictions For S&P 500 The fair value for the S&P 500 is 2,550, Cooperman said. The market is a little...
