Trading Ideas
Month: May 2020
Trading Ideas
Business News
U.S. reports record $738 billion budget deficit in April
The United States on Tuesday reported a record $738 billion budget deficit in April as an explosion in government spending and a shrinking of revenues amid the novel coronavirus pandemic pushed it deeply into the red.
Business News
S&P 500 dips on fears of virus resurgence in economic reopening
The S&P 500 dipped in choppy trading on Tuesday as the top U.S. infectious disease expert warned Congress that a premature opening of the nation’s economy could lead to additional outbreaks of the novel coronavirus.
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High-yield savings banks finally hit by the Fed's coronavirus rate cut
Goldman Sachs’s Marcus, CIT, Citibank, Ally, and many more popular online savings banks have lowered their rates, responding to the Fed’s historic rate cut in March. …read more […]
Business News
U.S. posts record $738 billion budget deficit in April
The United States on Tuesday reported a record $738 billion budget deficit in April, as an explosion in government spending and a shrinking of revenues amid the novel coronavirus pandemic put it deeply into the red.
Trading Ideas
Coronavirus update: Fauci warns on reopening risks, says outbreak 'not under control'
Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, told the U.S. Senate on Tuesday that the U.S. was still lagging in its response to the pandemic. …read more […]
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Trading Ideas
Citron Research Accuses Peloton Stock Of Peddling Its Way To Stupidity
Shares in home-fitness cycling company Peloton Interactive (PTON) have surged 10% in trading on May 12, bringing the stock’s year-to-date gain to over 65%. That’s after the company informed investors that it surpassed 1 million aggregate Connected Fitness subscribers.And now Andrew Left of Citron Research argues that enough is enough and investors should put Peloton into perspective: “This is retail mania – you can love the product, but stock has peddled its way to stupidity” tweeted the well-known activist short seller on May 12.As Left points out Peloton’s market cap has surged $5B this year; and with 300K connected subscribers …read more […]
Business News
S&P 500 edges lower on risks linked to economy reopening
The S&P 500 dipped in choppy trading on Tuesday as the risks of reopening the economy too soon overshadowed hopes of a jump-start to a battered global economy, following an easing of virus-led business shutdowns.
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Paul Krugman Says the Liquidity Trap Has Spread to Emerging Markets
(Bloomberg) — Two months into the deepest slump in decades, some of Latin America’s major economies are close to losing their main recession-fighting tool — interest rate cuts.Peru and Chile have already lowered borrowing costs almost to zero, and are being forced to consider new tactics to rescue their crashing economies. Brazil and Colombia may soon be in the same boat.The so-called liquidity trap, when monetary policy loses its traction as interest rates get close to zero, has plagued rich countries for years. Nobel-Prize winning economist Paul Krugman says it has now spread to some emerging markets as well.“There’s nothing …read more […]
Trading Ideas
Business News
Coronavirus crisis leads to largest U.S. consumer price decline since 2008
U.S. consumer prices dropped by the most since the Great Recession in April, weighed down by a plunge in demand for gasoline and services including airline travel as Americans stayed home during the coronavirus crisis.
Business News
U.S. attorneys general ask Amazon for data on COVID-19-linked worker deaths, infections
A group of 13 U.S. attorneys general asked Amazon.com on Tuesday to provide data on coronavirus-linked infections and deaths among its workforce, along with evidence of the company’s compliance with paid sick leave laws.
Business News
Uber approaches GrubHub with takeover offer: source
Uber Technologies Inc is in advanced talks to buy online food delivery company GrubHub Inc in an all-stock deal, according to a person familiar with the matter.