Prospects for a new stimulus bill, tensions with China and the pace of new coronavirus infections are weighing on the stock market, though industrial and energy shares rose.
Kodak shares lost more than a quarter of their value Monday after news that a planned $765 million loan to the company was put on hold amid congressional and regulatory scrutiny.
The renewed pressure on the currency is raising alarms about Turkey’s long-term ability to repay its foreign debtors, which include European banks.
Heard on the Street
Traditionally seen as recession-proof, utilities have been underperforming the broader U.S. market in the current economic downturn. That may present a buying opportunity for investors harboring doubts about the latest bull market.
The recent surge in biotech stocks extends beyond IPOs, as investors chase companies working on potential vaccines to combat Covid-19. But some longtime investors are wary of the run-up and warn there are risks to chasing companies at early stages of development.5
Heard on the Street
Investors rushing to ride Disney on the hope of pandemic recovery could be in for a long and uncomfortable wait.
U.S. stocks have been the better bet for a decade. With those valuations now so high, the question is whether it makes sense to shift some exposure overseas.11
