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Recession Proof Stocks: Is There Such a Thing?

Recession proof stocks are something of a myth in the investing community. Like the Fountain of Youth or the Ark of the Covenant, investors have searched for these treasures all the way back through history. The difference is, investors have a much better chance of finding recession proof stocks than they do immortality or biblical artifacts.
There’s no such thing as a true recession proof stock—every business is susceptible to market conditions in some way. That said, there are stocks that are naturally insulated against market downturn and that actually perform well in recessions and bear markets! You might not …read more […]

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Oil Negotiators Race Against Clock to Get Oil Supply Deal Done

(Bloomberg) — A global deal to cut oil supply and stem a historic price rout hung in the balance on Sunday as negotiators raced to find an agreement with just hours to go until the market opens.Diplomatic wrangling between Mexico and Saudi Arabia entered a fourth day as neither side was willing to concede, even after President Donald Trump intervened with a compromise and U.S. senators applied pressure to longtime ally Saudi Arabia.Negotiators have hours to spare before the oil market opens and traders pass judgment on the deal — or the failure to reach one. The market is already …read more […]

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S&P Cuts General Electric’s Credit Outlook to Negative Amid Debt Concern

General Electric Co.’s (GE) credit outlook was lowered to negative from stable by rating agency S&P Global, amid concern that the engine maker won’t be able to reduce debt leverage, should the aviation industry fail to see the start of a recovery later this year.The outlook change comes after GE disclosed that it expects adjusted 1Q EPS to be “materially below” its prior guidance on March 4, 2020 of about $0.10, according to preliminary figures and withdrew financial guidance for 2020. In March GE announced job cuts at its aviation unit, which makes engines for Boeing Co (BA) and Airbus …read more […]

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The U.S.-Saudi-Russia Oil Cease-Fire Won’t Last

(Bloomberg Opinion) — After two days of high drama, low farce and long periods of tedium, the OPEC+ group of countries, led by Saudi Arabia and Russia, almost agreed to cut their oil production by an initial 10 million barrels a day in response to the coronavirus-triggered collapse in demand. That “almost” is important.The drama was provided by Mexico refusing to accept its allotted cut. The farce followed when the country’s oil minister left the virtual OPEC+ meeting to hold separate talks with her U.S. and Canadian counterparts, while the other energy ministers agonized for hours over how to respond. …read more […]

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China's U.S. envoy says trade deal being implemented, hopes for coordinated response

China is still implementing the first phase of a Sino-U.S. trade pact, its ambassador to the United States said, but hoped the two could work together to assess the changing situation and coordinate their response, the Global Times said on Sunday. The world’s two biggest economies signed the tentative deal to pause a damaging tariff war in January, before the coronavirus pandemic spread, threatening a global economic depression. Cui Tiankai said China was still buying U.S. agricultural products, and was lifting some curbs faced by foreign companies entering its financial market, the tabloid affiliated to the Beijing-controlled People’s …read more […]

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U.S. Is Deadliest Epicenter; Singapore Clamps Down: Virus Update

(Bloomberg) — The U.S. became the world’s epicenter for the coronavirus as deaths passed Italy, while Singapore said it will immediately impose fines on people who flout social-distancing rules.The pace of deaths slowed in Spain, France and Germany, though Italy reported the most new cases in a week. China reported 99 new cases from Saturday, 97 of which were imported. Authorities in Shanghai said 51 of the 52 new imported cases in the city came on a flight from Russia.The Pentagon is using a wartime law to fund production of N95 masks. U.S. governors sought $500 billion in federal aid …read more […]

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Floyd Mayweather, fuboTV (OTC: FBNK) Partner in Ground-Breaking Digital Likeness Joint Venture

fuboTV (OTCQB:FBNK), FaceBank Group, Floyd Mayweather and ONE Entertainment Group, LLC today announced a ground-breaking joint venture to create and manage the world-renowned retired professional boxing champion and promoter’s digital likeness, “Virtual Mayweather.” The partnership […]