Month: February 2020

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Trading Ideas

Gold Joins the Virus Sell-Off With Its Biggest Slide Since 2013

February 29, 2020 admin Comments Off on Gold Joins the Virus Sell-Off With Its Biggest Slide Since 2013

(Bloomberg) — It is an odd moment for gold to be tumbling. One of the oldest and most-trusted safe havens in times of crises, gold typically rallies amid nasty stock sell-offs like the one that has gripped the world this week.So its plunge Friday — it fell as much as 5%, the most in almost seven years — caught many traders flat-footed and scrambling for explanations as to what had just happened. The most often heard of them: Gold investors don’t want to sell but are forced to cover the losses in other asset classes.“It’s bloodshed,” Commerzbank AG analyst Carsten …read more […]

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Trading Ideas

Harley-Davidson CEO to leave struggling motorcycle maker

February 29, 2020 admin Comments Off on Harley-Davidson CEO to leave struggling motorcycle maker

Harley-Davidson CEO Matthew Levatich is leaving the struggling motorcycle maker. The Milwaukee company announced Friday that Levatich will leave his post and seat on Harley’s board of directors. Board member Jochen Zeitz will become acting president and CEO while a board search committee is formed and Harley hires an outside search firm to fill the job. …read more […]

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Trading Ideas

Harley-Davidson CEO Matthew Levatich steps down

February 28, 2020 admin Comments Off on Harley-Davidson CEO Matthew Levatich steps down

“The board and Matt mutually agreed that now is the time for new leadership at Harley-Davidson,” Zeitz said. Harley has, for years, failed to increase sales in the United States, its top market, which accounts for more than half of its motorcycles sold. Harley’s bike sales in the United States last year were the lowest in at least 16 years. …read more […]

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Virus Rout Pushes U.S. Energy Explorers to Brink of Distress

February 28, 2020 admin Comments Off on Virus Rout Pushes U.S. Energy Explorers to Brink of Distress

(Bloomberg) — The bloodbath in the global markets is taking the bonds of some struggling U.S. oil and gas explorers to highly distressed levels as their stock slump accelerates.The coronavirus scare that’s sending markets worldwide on a collective nosedive is adding to growing investor animosity toward a sector that has burned borrowed cash, while failing to deliver on returns.Drillers’ fall from grace has worsened as shareholders increasingly demand they shift their focus to generating cash flow, instead of increasing production at any costs. Now, as bonds collapse, they face the double whammy of upset investors on both sides of capital …read more […]

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Business News

Factbox: Global central bankers on coronavirus, possibility of rate cuts

February 28, 2020 admin Comments Off on Factbox: Global central bankers on coronavirus, possibility of rate cuts

With the rapid global spread of the new coronavirus and the U.S. stock market suffering its worst week since the Great Recession, central bankers around the world are under rising pressure to reduce borrowing costs to create a cushion against economic harm. So far they have largely resisted. Following are some of their recent remarks:

…read more […]

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Business News

S&P 500 drops for seventh day, posts biggest weekly fall since 2008 crisis

February 28, 2020 admin Comments Off on S&P 500 drops for seventh day, posts biggest weekly fall since 2008 crisis

The S&P 500 fell for the seventh straight day on Friday and the benchmark index suffered its biggest weekly drop since the 2008 global financial crisis on growing fears the fast-spreading coronavirus could lead to a recession, although stocks cut losses at the end of the day’s session.

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