Trading Ideas
Month: April 2020
Business News
Saudi, Russia outline record oil cut under U.S. pressure as demand crashes
OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.
Business News
Mexico proposes 100,000 bpd oil output cut at OPEC meeting
In a meeting with OPEC and its allies, Mexico proposed reducing its oil output by 100,000 barrels per day (bpd) in the next two months, Energy Minister Rocio Nahle said on Thursday.
Business News
OPEC+ outlines oil cut deal, but Mexico holds up final agreement: sources
OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.
Business News
Delta says 35,000 workers taking up voluntary unpaid leaves, still seeking more
Delta Air Lines Inc Chief Executive Ed Bastian said on Thursday that nearly 35,000 workers had volunteered so far for voluntary unpaid leaves of absence the company is offering in an attempt to stem costs because of the coronavirus crisis.
Business News
Volkswagen furloughs 1,500 workers at Tennessee auto plant starting April 11
Volkswagen AG said Thursday it will furlough 1,500 workers at its U.S. assembly plant in Tennessee starting April 11 as the industry grapples with the ongoing coronavirus pandemic.
Business News
Trump says he had good call with Russia’s Putin, Saudi king on oil
U.S. President Donald Trump said on Thursday he had a good conversation with Russian President Vladimir Putin and Saudi Arabia’s King Salman and expected that OPEC and other countries would be announcing a deal soon.
Business News
Trump says airlines could receive grant details this weekend; sources say around 275 applied
U.S. President Donald Trump said on Thursday that airlines could receive details this weekend about the terms of a $32 billion payroll grant to offset the impact of the coronavirus outbreak, which sources told Reuters has received around 275 applicants.
Trading Ideas
How Long-Term Thinking Protects Short-Term Profits
If my crystal ball had been working back in January, I would have been able to tell you to buy “virus stocks.”
By “virus stocks,” I mean companies that saw their share prices surge as the COVID-19 pandemic escalated… rare businesses that actually benefited from the pandemic.
Both Zoom Video Communications (Nasdaq: ZM) and Teladoc Health (NYSE: TDOC) are on the good side of the stay-at-home orders that most Americans are facing. There aren’t many businesses that can say that.
Not surprisingly, the 2020 stock charts of both companies reflect this…
Zoom Video’s stock is up over 80% this year. Zoom provides a remote …read more […]
Business News
Oil sinks as market doubts OPEC supply cuts will be enough
Oil prices tumbled on Thursday on doubts that a deal between OPEC and allies to make a record oil supply cut would be enough to offset the collapse in global fuel demand caused by the coronavirus pandemic.
Business News
U.S. Treasury chief to brief Trump on aviation aid review
U.S. Treasury Secretary Steve Mnuchin was due to brief President Donald Trump at the White House on Thursday about the government’s review of requests for $32 billion in grants from passenger airlines, cargo carriers and airport contractors.
Trading Ideas
Trading Ideas
How an Abundance of Oil Is Affecting the Markets
Editor’s Note: Tomorrow’s a market holiday – so that means two things.
You get a long weekend break from trading the stock market.
There won’t be a Trade of the Day issue on Friday.
Have a great weekend – we’ll talk to you on Monday!
– Jason Roberts, Senior Managing Editor
Oil has been in the news in a big way…
The market was oversupplied with oil going into this market crash, and now there is an abundant supply like we have never seen before. The U.S. produces 15 million barrels per day (bpd). It consumes 19 million in a booming economy. The consumption number is …read more […]
Business News
Saudi, Russia agree record oil cut under U.S. pressure as demand crashes
OPEC and its allies led by Russia agreed on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.
Business News
Instant View: OPEC+ cuts will not be enough to halt oil collapse – analysts
OPEC and other major oil producers on Thursday said they would cut output by 10 million barrels per day for two months in the face of a huge fall in demand due to the coronavirus crisis.