SkyBridge Founder and Managing Partner Anthony Scaramucci says the coronavirus “could be President Trump’s Hurricane Katrina”. He joins Yahoo Finance’s Julia La Roche to discuss President Trump’s response to the coronavirus and the markets. …read more […]
Despite continued fears of the global spread of the coronavirus, it appears China, the 2nd largest economy, is making a comeback. However, some investors believe that if recovery begins in Q3, the fed will want to hike rates toward the end of the year. Liz Young, BNY Mellon Director of Strategy Liz Young joins On the Move to discuss. …read more […]
(Bloomberg) — Rates for 30-year U.S. mortgages tumbled to the lowest on record as fears of a blow to the economy from the coronavirus sent investors rushing to the safety of Treasuries.The average rate was 3.29%, down from 3.45% last week and the lowest in 49 years of data-keeping, Freddie Mac said in a statement Thursday. The previous low, in November 2012, was 3.31%.Plunging borrowing costs have set the stage for a spring housing boom and are giving homeowners a fresh opportunity to refinance into cheaper loans. Lenders are staffing up to meet the demand. Quicken Loans Inc., the nation’s …read more […]
According to the New York Times, Elizabeth Warren is planning to drop out of the presidential race. Yahoo Finance’s Adam Shapiro breaks down the details. …read more […]
Stocks continue to whipsaw. Here is one thing investors really want to see before stepping back into stocks. …read more […]
New orders for U.S.-made goods fell more than expected in January and could drop further as a worldwide coronavirus outbreak strains supply chains and undercuts the manufacturing sector, which had recently shown signs of stabilizing after a prolonged slump.
U.S. unit labor costs grew much slower than initially thought in the fourth quarter and were soft in 2019, suggesting inflation could remain tame despite tightening labor market conditions.
The number of Americans filing for unemployment benefits fell last week, suggesting the labor market was on solid footing despite the coronavirus outbreak, which has stoked financial market fears of a recession and prompted an emergency interest rate cut from the Federal Reserve.
U.S. stock indexes dropped more than 2% on Thursday as the swift spread of the coronavirus in the United States led California to declare an emergency, while airline stocks were hammered by crippled travel demand.
Two years into an ambitious growth plan to revive earnings at the largest U.S. oil company, Exxon Mobil said on Thursday it would stick to its plans to “lean in” to spending even as its shares have lagged its competitors, which are cutting costs.
The next-generation KC-46 tanker is not fit for duty, according to America’s top Air Force general Continue reading… …read more […]
Amazon.com Inc and Facebook Inc on Thursday joined Microsoft Corp in recommending employees in the Seattle area to work from home after several people in the region were infected with the coronavirus.
(Bloomberg) — Southwest Airlines Co. warned that a drop in bookings will dent first-quarter revenue, compounding evidence that the coronavirus’s impact is spreading across U.S. air travel.“In recent days, the company has experienced a significant decline in customer demand, as well as an increase in trip cancellations,” the Dallas-based discounter said Thursday in a regulatory filing. It cited the coronavirus that is spreading in the U.S.Southwest expects a $200 million to $300 million impact on operating revenue in the period. Revenue for each seat flown a mile, an industry benchmark, could drop as much a 2% from a year earlier, …read more […]
Oil fell on Thursday as the coronavirus epidemic showed no signs of slowing, with deaths mounting globally, and while major producers agreed on deeper output cuts to bolster prices, they could not immediately secure Russian support for the decision.
German airline group Lufthansa said on Thursday it is cancelling about 7,100 flights up to the end of March due to lower demand and the spread of coronavirus.
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