Guggenheim Partners Global CIO Scott Minerd said Wednesday that stocks could have further to fall as the markets came to grips with the economic impact from the coronavirus outbreak. Minerd, appearing on CNBC’s “Closing Bell,” said the effects of the virus would soon begin to appear in corporate earnings and the global supply chain. “I think we’ve reached a tipping point here, and that is if we can’t get this thing contained soon — that is, probably sometime this week — then it’s going to come t

President Trump: Coronavirus risk to American people remains very lowPresident Trump holds a news conference on the coronavirus and what the government is doing to prepare.

Cramer’s exclusive interview with Toll Brothers CEOJim Cramer spoke exclusively today with Toll Brothers CEO Doug Yearley after the company’s stock took a 14 percent hit in Wednesday’s trading. Investors sold after the company released its quarterly report missing earnings estimates. Revenue was also below forecasts.

How Discover credit cards became a card for the massesDiscover is the sixth-largest credit card issuer in the U.S. and consistently tops the J.D. Power customer satisfaction survey. However lately, the stock has been struggling.

Bryan R Smith | ReutersSo long as the coronavirus poses a threat to global economic growth, bond yields are likely to stay around the record-low levels where they’ve been trading as the disease threatens to morph into a pandemic. U.S. government bonds have been a safe haven for investors amid cascading losses on Wall Street. Bond market pros see a variety of reasons for the trend lower, including but not limited to the coronavirus outbreak. Wednesday’s rally on Wall Street briefly stunted the U.

Jeffrey Gundlach, DoubleLine Capital CEO and Wall Street “bond king,” is pointing the finger at Democratic presidential hopeful Bernie Sanders for the market’s tumultuous rout this week. Gundlach wrote in an email to CNBC’s Scott Wapner, referring to the S&P 500. The S&P 500 wiped out a whopping $1.7 trillion in just two sessions earlier this week. “Maybe this is the dark side of momentum investing (which is exactly what defines ‘passive’),” Gundlach wrote. Gundlach has previously said that Sand

The trade war and coronavirus outbreak helped demonstrate that retail supply chains have become too reliant on China, former CEO Terry Lundgren told CNBC on Wednesday. For example, the beauty industry is less exposed than footwear, which is “greatly” impacted by any supply chain issues in China, he said. Tech companies such as Apple and Microsoft have warned about impacts to their business, as have retail companies such as Under Armour. Overall about 20% of the retail supply chain is exposed to

“I think you can add quite a bit of sell-off to what” the Democrats are saying in debates, the president said. “I think the financial markets are very upset when they look at the Democrat candidates standing on that stage making fools out of themselves.” President Donald Trump said in a press conference Wednesday that he believes the stock market will recover its steep, multiday losses and said that fears a Democrat could win the election contributed substantially to the sell-off along with the

Sen. Patrick Toomey said he will support the nomination of Judy Shelton to the Federal Reserve, removing a key obstacle to her confirmation. The Pennsylvania Republican said Wednesday he received assurance that Shelton does not favor devaluing the dollar to combat lower currencies in other countries. During a contentious confirmation hearing Feb. 13 before the Senate Banking Committee, Toomey grilled Shelton, whom President Donald Trump nominated, on her views regarding competitive devaluation.

Microsoft shares fell 2% in extended trading on Wednesday after the company said it doesn’t expect to meet the quarterly revenue guidance it previously provided for the segment that includes Windows. The move comes during a week that has seen a market selloff amid fears about the virus. Last week Apple disclosed that it did not expect to reach its own quarterly revenue guidance as a result of impact from COVID-19. Earlier this week HP, one of the biggest sellers of Windows PCs, said that corpora

(This story is for CNBC Pro subscribers only.) Oakmark Funds partner Bill Nygren said that the sharp decline in stocks this week was dragging down stocks across the board, leaving some areas still undervalued relative to the market. “I wish it was just the stocks that were on the chase that are being unwound,” Nygren said on CNBC’s “Squawk on the Street.” “It seems to be unwinding everything, whether it has been part of the move up or not.”

With a new CEO, refreshed products and a growth strategy in place, Papa John’s expects its sales to rebound this year. On Wednesday, the company said same-store sales in the U.S. and Canada are expected to rise between 2.5% and 5% in 2020. Although Schnatter stepped down, same-store sales turned negative, and customer loyalty at Papa John’s slipped, according to the Brand Keys Customer Loyalty Engagement Index. In August 2019, experienced restaurant executive Rob Lynch took over as CEO of Papa J

“We should know who is the best person to beat Donald Trump, and with all due respect, Bernie Sanders cannot beat Trump,” he explained, describing the message he has relayed to the two Democratic leaders. Schwartz’s concerns to leaders are being echoed by many Democratic leaders, including Bloomberg, whose campaign has ramped up its attacks on Sanders. Both publicly signaled on Wednesday that they would be comfortable with Sanders leading the Democratic ticket in November. Schwartz’s links to De

Democratic presidential candidate Bernie Sanders will rally Silicon Valley’s haves and have-nots ahead of Super Tuesday. The campaign confirmed it will hold a rally at San Jose’s City Hall on Sunday, March 1, at 1:30 p.m. It also comes after months of the Democratic candidate publicly praising tech worker activism and condemning tech companies and their executives. Many tech workers live in San Jose — the nation’s 10th largest city and one of the most diverse cities in the country. In early Feb

Rodgers, 36, voted no to the NFL owners’ proposal claiming he’s only seen “an abbreviated version” of the deal which he feels “isn’t good enough.” Rodgers, who is one of 32 NFL players union representatives, said he based his decision off conversations he’s had “with the men in my locker room,” and added that a change to regular-season and postseason games should have never been negotiated. The NFL players union executive committee initially voted 6-5 not to recommend the proposal for a final vo

JetBlue Airways in a surprise move Wednesday became the first U.S. carrier to cut its change and cancellation fees for travelers concerned about the coronavirus. JetBlue said the suspension of change and cancellation fees, which can reach $200, would apply for new bookings made on Thursday through March 11 and for trips that would end June 1. “The policy is designed to give customers confidence that they will not be charged any JetBlue fees for changes or cancellations later given evolving coron

This image provided by WISN-TV, police respond to a possible shooting at the MillerCoors campus in Milwaukee on Wednesday, Feb. 26, 2020. An employee opened fire Wednesday at one of the nation’s largest breweries in Milwaukee, killing five fellow workers before taking his own life, police said. The assailant who attacked the Molson Coors complex was identified as a 51-year-old Milwaukee man who died of a self-inflicted gunshot wound, police said. The shooter killed himself. Shortly before word o

Disney is one example of a down stock that investors can take advantage of for a long-term play, CNBC’s Jim Cramer said Wednesday. Disney shares are down almost 15% this year after falling 3.77% during the trading day to close at $123.36. The stock has potential to fall as low as $112 in the near term, but Cramer suggested it’s worth picking up at a discount. The comments come one day after Bob Iger unexpectedly relinquished the chief executive seat at Disney and as coronavirus uncertainties con

Vice President Mike Pence will be put in charge of the U.S. response to the deadly coronavirus outbreak, President Donald Trump announced Wednesday in an address from the White House. The spread of the disease in the U.S. isn’t “inevitable,” Trump said, though he noted that it’s possible that “it could get fairly substantially worse.” But the U.S. is ready for “anything,” Trump said, including an outbreak “of larger proportions.” Trump said he would be putting Pence, who has “a certain talent fo

When the outbreak first emerged in Wuhan two months ago, China’s system of reporting new cases was straightforward enough. The case definition was changed, according to a CNBC translation of the official announcement’s Chinese text, so a broader set of patients could receive the same treatment as confirmed cases. China’s total cases soared by more than 19,000 — from 51,174 on Feb. 16 to 70,635 the next day, according to WHO data. On Friday, state news agency Xinhua reported that an official for