Trading Ideas
Month: April 2020
Business News
Futures turn higher after Fed stimulus, jobless claims data
U.S. stock index futures turned higher on Thursday after data showed jobless claims fell last week and the Federal Reserve rolled out a broad $2.3 trillion effort to bolster local governments and small and mid-sized businesses.
Business News
Fed rolls out $2.3 trillion to backstop “Main Street,” local governments during crisis
The U.S. Federal Reserve on Thursday rolled out a broad, $2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus pandemic.
Business News
Bloomin’ Brands, Jana Partners agree to nominate two new directors
Bloomin’ Brands Inc and Jana Partners said on Thursday they have agreed to add two new independent directors to the Outback Steakhouse owner’s board, months after the activist hedge fund pushed for changes due to struggling restaurant sales.
Business News
U.S. weekly jobless claims top 6 million for second straight week
The number of Americans seeking unemployment benefits in the last three weeks has topped 15 million, as weekly new claims topped 6 million for the second straight time last week as tough measures to control the novel coronavirus outbreak abruptly ground the country to halt.
Trading Ideas
Federal Reserve announces $2.3 trillion in funding for households, local governments
In another emergency announcement, the Federal Reserve announced $2.3 trillion in new funding programs to address the economic impact of the coronavirus. …read more […]
Trading Ideas
Tesla Scored Record China Sales In March, Says Industry Association
Tesla (TSLA) sold 10,160 vehicles in China in March, according to the China Passenger Car Association (CPCA)- a big leap from the 3,900 vehicles sold in February. This would mark the company’s highest ever monthly sales in the world’s largest auto market.According to Cui Dongshu, CPCA’s secretary general, Tesla sales now account for about 30% of the battery electric vehicles sold in China. Ultimately the company plans to produce 150,000 Model 3 sedans from its Shanghai factory.Indeed, Tesla’s $2 billion Shanghai plant recovered from the coronavirus shutdown faster than peers due to local authority assistance. After resuming operations in February, …read more […]
Trading Ideas
Jobless claims: 6.6 million workers file for benefits
Following two consecutive weeks of jobless claims in the millions, another 6.606 million Americans filed for unemployment for the week ending April 4. …read more […]
Business News
IMF chief says pandemic will unleash worst recession since Great Depression
The pandemic sweeping the world will turn global economic growth “sharply negative” in 2020, triggering the worst fallout since the 1930s Great Depression, with only a partial recovery seen in 2021, the head of the International Monetary Fund said.
Business News
Futures dip ahead of weekly jobless claims, OPEC+ meeting
U.S. stock index futures edged lower on Thursday as investors braced for another staggering weekly jobless claims number, while oil prices rose on hopes of sweeping production cuts.
Trading Ideas
Business News
Index Ventures raises $2 billion for growth investments
Venture capital firm Index Ventures said on Thursday it had raised $2 billion for growth investments, backing entrepreneurs it reckons will lead the way out of the economic slump caused by the coronavirus pandemic.
Business News
Costco set to open new store in China’s Suzhou city
U.S. retail giant Costco will open a new store in China’s eastern city of Suzhou, near Shanghai, state media reported on Thursday.
Business News
Exclusive: Airbnb restricts bookings on its platform in Britain
Home rental firm Airbnb blocked British bookings on its platform for the vast majority of customers on Thursday, allowing only key workers to stay in properties for as long as emergency government coronavirus restrictions are in place.
Business News
Factbox: OPEC+ talks face challenges over baseline for cuts and U.S. role
OPEC and its allies hold talks on Thursday to discuss plans for the biggest coordinated oil output cut in history but two hurdles remain: reaching a deal on the levels from which to make reductions and securing the participation of the United States.