Month: April 2020

(Bloomberg) — Oil prices tracked higher in Asia, drawing support from the commitment by the biggest producers to curb output even as doubts remain as to whether the cuts will be enough to offset the demand destruction caused by Covid-19.Futures in New York rose 1.8%, after easing 1.5% on Monday. The OPEC+ alliance agreement to slash production by 9.7 million barrels a day starting in May amounts to the largest coordinated cut in history, but is still dwarfed by the estimated 20 million barrels a day or greater decline in oil consumption as a result of the pandemic.Saudi Arabia is …read more […]

It’s natural during a crisis… Investors want to find the companies that will help solve the problem and come out as big winners.
In addition to serving as Chief Income Strategist at The Oxford Club, I’ve covered the biotech sector for 16 years – so I’ve seen this play out before.
Lately, there’s been a lot of speculation as to which companies will come up with the cure for COVID-19 and the effective vaccine to get us out of this mess and back to our lives.
The company or companies that do produce effective treatments and vaccines could make a mint.
Here are my …read more […]

Michael Antonelli, Baird PWM Market Strategist, joined Yahoo Finance’s Jen Rogers, Myles Udland, and Andy Serwer to recap today’s market action and what to expect from the markets this week. …read more […]

Exxon Mobil Corp on Monday raised $9.5 billion in new debt, with the largest U.S. oil producer seeking to bolster its finances while debt markets remain open to new deals. Exxon paid a lower price to borrow than it did in a similar debt deal almost four weeks ago, a sign of how investor confidence is gradually returning after a rout in energy prices and a stock market collapse fueled by the coronavirus outbreak. Exxon raised $9.5 billion by selling five different bonds with a variety of durations ranging from five years to 31 years, up from …read more […]

The latest coronavirus developments and big bank earnings will be on investors’ radars Tuesday. …read more […]

Stock futures were little changed Monday evening as investors braced for what is expected to be an ugly earnings season, with the coronavirus pandemic sweeping the country at the end of the first quarter. …read more […]

Here’s a lockdown impact that you may not have predicted…
According to Bloomberg, cannabis use reached an all-time high in March amid lockdown measures.
And no wonder…
With more than 17 million Americans now unemployed – and under quarantine – it’s logical to think that a large majority of this group will decide to just sit around and smoke some pot.
Never before have more people in the U.S. had this much free time – with nothing to do.
Oh, and give them an extra $1,200 – thanks to Uncle Sam – and the appeal of increased cannabis use becomes even greater.
This is why I’d …read more […]

You may have heard the saying “If it bleeds, it leads.”
And right now, there’s no shortage of bad news for anxious Americans nervously glued to the news.
Take your pick:
New cases of infections… body counts… crashing stocks…
Skyrocketing unemployment… impending economic disaster… runaway central bank stimulus…
This constant, unyielding pressure of negativity is weighing heavy in people’s guts like 2-month-old fruitcake.
It feels like there’s no escape. Though Americans aren’t going to stop trying to find one… or at least trying to drown those sorrows.
Alcohol sales in the U.S. rose 55% during the week ending March 21.
Digging deeper into the data, we find …read more […]

(Bloomberg) — Tesla Inc. rose for a sixth straight session, capping a 43% gain triggered by the the electric-car maker’s April 2 first-quarter delivery report.The six-day run was Tesla’s longest winning streak since early February. The S&P 500 Index rose 9.3% during the same period.“Coming off its recent first-quarter delivery numbers, which were better than reset Street expectations, there is some clear optimism from the bulls,” Wedbush analyst Dan Ives wrote to clients. China production and demand appear poised for a significant rebound and should be a key growth driver over the coming quarter, he said.Even so, it is now …read more […]

(Bloomberg) — Zoom Video Communications Inc. will let paying customers decide which countries their virtual meetings get routed through, a move to assuage clients worried they may be vulnerable to possible Chinese snooping.The ability to select preferred data center locations will be available beginning April 18, Brendan Ittelson, Zoom chief technology officer, said Monday in a blog post. Paid users can also opt out of certain locations. Free users will be locked into data centers in their region, which will mean a U.S.-based data center for many users.Zoom has gone from being used by 10 million office workers a day …read more […]

Along with the debate about the shape of a potential travel industry recovery, crosscurrents are emerging about which companies and business models would lead the charge. Cowen Equity Research published a recent investor note contending that Booking Holdings is “in a better position to maintain staff today and invest in the recovery” compared with other […] …read more […]