New York Stock Exchange president Stacey Cunningham said on “Squawk on the Street” that having traders on the floor is a “premium offering” for exchange clients and that she plans on opening the floor again once the coronavirus threat has passed. Cunningham also said the stock market should stay open during the crisis.Â “Right now, people are being stressed, and many of them need access to those dollars in the short term because of the trials that they are undergoing right now. We can’t take that access away from them,” Cunningham said. â Pound
Orange Juice Futures hit a high of 111, their highest level since June 4,Â when OJ futures hit a high of 112.60. Orange juice is a good source of vitamin C amid this global pandemic. âFrancolla
Cotton futures fell on Monday to their lowest level since April 2009, hitting a low of $50.68 per pound. The tumble takes place as most retailers around the world shut down, decreasing demand for clothes and, in turn, cotton. âImbert, Francolla
- Goldman Sachs upgraded Boeing to buy from neutral.
- Morgan Stanley upgraded Colgate-Palmolive and Pepsi to overweight from equal weight.
- JPMorgan upgraded Coca-Cola to overweight from neutral.
- Cowen downgraded AT&T to market perform from outperform.
- MKM downgraded Starbucks to neutral from buy.
- Piper Sandler upgraded CyberArk and Palo Alto Networks to overweight from neutral.
- Morgan Stanley downgraded Honeywell to equal weight from overweight.
- Baird upgraded Netflix to outperform from neutral.
- SocGen downgraded AbbVie to hold from buy.
- JPMorgan added Dollar General to the focus list.
- Wells Fargo downgraded Carnival Corp. to underweight from overweight.
- Bank of America upgraded Southwest Airlines to buy from neutral.
- Bank of America upgraded Charles Schwab to buy from neutral.
- Needham upgraded Lululemon to buy from hold.Â â Bloom
Stock losses accelerated back toward session lows. The Dow lost about 740 points, the S&P 500 fell 3.5% and the Nasdaq dropped 2.4%.Â â FitzgeraldÂ