Why Small-Cap ETFs & Stocks Outperformed Last Week

U.S. stocks performed well last week on optimism over a potential coronavirus vaccine and the reopening of the economy, though rising tensions between the United States and China weighed on the market. All the 50 states have lifted restrictions put in place to combat the coronavirus outbreak. The easing has started to propel demand and is likely to revive economic growth (read: Is Moderna Winning the COVID-19 Vaccine Race? ETFs to Gain).

The latest data for U.S. consumer sentiment shows that the University of Michigan’s consumer sentiment index rose to 73.7 in early May from 71.8 in April as fiscal stimulus measures “improved consumers’ finances and widespread price discounting boosted their buying attitudes.”

Additionally, Federal Reserve Chairman Jerome Powell said the central bank still has plenty of ammunition to rescue the economy from a deep slowdown, indicating a potential recovery in the second half of the year. The Fed would

Read More

These Soldiers Fought Off COVID-19 and Still Graduated Basic Training

Two of the U.S. Army newest soldiers recently earned bragging rights by completing Basic Combat Training after surviving bouts with the novel coronavirus.

Roughly eight weeks ago, 21-year-old Pvt. Carlos Mora and 36-year-old Spc. Juan Guajardo began suffering from COVID-19 symptoms while going through Basic Combat Training at Fort Jackson, South Carolina.

Read Next: Third Service Member Dies from COVID-19

“I woke up in the morning and felt horrible,” Mora said in a recent Army news release. “I had a high fever, and I had slight pain. I told the drill sergeants, and they took me to the hospital.”

Guajardo said he has no idea how he got the virus.

“I got a fever, really weak and I had aches,” he said. “I coughed a lot and, when I blew my nose, I had red spots. I went to the hospital, and they did the test. I was positive.”

Read More

Deadline set for abuse survivors to file claims in Boy Scouts bankruptcy

Claims of abuse by Scout leaders and others must be filed by Nov. 16 to be eligible for compensation through the Boy Scouts of America’s bankruptcy proceedings, following a deadline set Tuesday afternoon.

Those who do not meet that deadline will be barred from filing suit against the national organization in the future.

The deadline and process, filed by Judge Laurie Silverstein in U.S. Bankruptcy Court for the District of Delaware, is based on an agreement reached during a hearing last week. 

Initially, the Boy Scouts had proposed 80 days for survivors to come forward. The agreed-upon date provides more than twice that much time: almost six months. The Boy Scouts will be required to run a nearly $7 million awareness campaign encouraging people to come forward. The campaign will include mail and email to those who have filed complaints, as well as national television and print advertisements.  


Read More

Philippe Laffont’s Firm Buys JD, Sells Mastercard

Coatue Management recently disclosed its portfolio updates for the first quarter of 2020, which ended on March 31.

Founded in 1999 and headquartered in New York, Coatue Management is an employee-owned private hedge fund sponsor. It launches and manages various hedge funds for clients and is perhaps best known for its tech-focused hedge fund. The firm mainly invests in U.S. and non-U.S. publicly traded equity securities, but it also has short positions and investments in private equity and hedging markets. Chief Investment Officer Philippe Laffont (Trades, Portfolio), who founded the firm after leaving Tiger Management, takes a top-down approach to stock picking and focuses on the information technology sector.

During the quarter, the firm established 66 new stock positions and sold out of 299 holdings. The biggest buys were Inc. (NASDAQ:JD) and Tesla Inc. (NASDAQ:TSLA), while the biggest sells were ServiceNow Inc. (NYSE:NOW) and Mastercard Inc.

Read More