'I will pay more': Bloomberg unveils plan to raise taxes on incomes over $5 million

'I will pay more': Bloomberg unveils plan to raise taxes on incomes over $5 million This is a developing news story. Please check back for updates: https://www.cnbc.com/2020/02/01/billionaire-mike-bloomberg-calls-for-tax-on-incomes-over-5-million.html Follow @CNBCnow for breaking news and real-time market updates Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel   Digital Products Feedback Privacy Policy CNBC Events   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS

Santoli breaks down market sell-off | What happens next week? | Biotechs jump

A full breakdown of the market sell-off and what happens next.

VIEW IN BROWSER | SUBSCRIBE SAT, FEB 01, 2020 WEEKEND BRIEF EDITOR'S NOTE   Well, that was a disappointing way to end the first month of the year. Stocks closed out January with a major sell-off, as the Dow Jones Industrial Average fell more than 1% along with the S&P 500 and Nasdaq Composite.   The culprit for the sell-off was the coronavirus and growing fears over how it will impact the global economy. Friday's drop was so steep it erased 1% monthly gains for the Dow and S&P 500. Both indexes also snapped five-month winning streaks.    In this edition of the Weekend Brief, CNBC's Michael Santoli writes about what damage the drop has done to the bull trend and analyzes the health of the market at this point.   The bad news for investors is three-fold. First, the coronavirus fears are not going away anytime soon. The number of confirmed cases and deaths keeps rising while airlines — including United and Delta — suspend flights between China and the U.S. Heading into next week, the emergence of the coronavirus could continue to be the biggest catalyst for stocks, CNBC's Patti Domm writes.   Second, February is a notoriously tough month for stocks. Since 1950, the S&P 500 has averaged just a 0.1% gain in February, according to data from the Stock Trader's Almanac. That ranks ninth best in terms of average monthly performance for the broad index.   Third, the Democratic primaries are kicking off this month with Sen. Bernie Sanders gaining steam in the polls. Sanders is viewed by many investors as negative for the stock market and is in favor of significantly raising taxes on individuals and companies.   But while the broader stock market took a big hit towards the end of the month, some biotechnology stocks provided a bright spot. These stocks gained steam as investors bet their efforts to find a vaccine or develop drug treatments for the coronavirus will pay off, CNBC's Yun Li writes.    Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Fred Imbert | CNBC Markets Reporter @foimbert MICHAEL SANTOLI'S MARKET COLUMN An analysis of the market sell-off: What's likely causing it and how worried you should be   THE WEEK AHEAD Stocks stumble into February, one of the weakest months for market   YOUR WEEKEND BRIEFING  Investors rush into biotechs working on coronavirus vaccine These five companies reporting earnings in the week ahead almost always beat the Street Wall Street analysts say these stocks are 'compelling' including Oxford Industries and iHeartMedia Cramer's week ahead: Coronavirus will be the focus as Disney, Clorox and others report earnings     Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS