The number of Americans seeking jobless benefits fell last week, but millions laid off because of COVID-19 continue to receive unemployment checks, suggesting the labor market could take years to heal from the pandemic even as hiring resumes.
The reality that the coronavirus crisis is far from over is threatening a blistering equity market rally that had taken some world indexes to fresh highs.
We are living through some crazy times and the stock market has read the memo. Yesterday, shares of Chinese fintech company Jiayin Group (JFIN) were up during the session by over 900%. Needless to say, someone, somewhere (probably in China), enjoyed some after work drinks. The stock pulled back and by the end the day was “only” up by 96%.Were the massive share gains in anticipation of today’s earnings report? Hard to tell, but the report was nothing to write home about. Revenue came in at $44.28 million, down year-over-year by 57.1% and missing the estimates by $5.13 million. Bottom …read more […]
U.S. stocks deepened losses on Thursday, with the Dow on track for its biggest single day percentage fall since March 18, on fears of a resurgence in coronavirus infections and a gloomy economic forecast from the Federal Reserve.
Exxon Mobil is preparing to restart the sale of its British North Sea assets after weaker oil prices and the coronavirus outbreak led to months of delay, industry and banking sources said.
Fast-talking auctioneer Greg Highsmith sung out dozens of prices – “seventy-five-hundred now, $10,000 now, be able to get 15,000?” – before a North Dakotan buyer paid $27,500 for a used Caterpillar oil swabbing rig on Friday.
Ryanair rejected new British government guidance for passengers to check in all luggage including hand bags, saying on Thursday it would instead recommend that passengers minimise checked-in luggage.
Time for a long overdue stock market correction? …read more […]
Ryanair on Thursday rejected new British government guidance for passengers to check in all luggage including hand bags, saying it would instead recommend that passengers minimise checked-in luggage.
Yahoo Finance’s Adam Shapiro and Julie Hyman break down the latest trending headlines. …read more […]
U.S. stocks slumped on Thursday with the S&P 500 and the Dow set for their steepest percentage declines since April 1, as investors fretted over a new wave of coronavirus infections and a gloomy economic forecast from the Federal Reserve.
(Bloomberg) — Shares of Boeing Co. and its largest suppliers sank Thursday after the planemaker pared output plans for its beleaguered 737 Max just two weeks after restarting work in its Seattle-area factory.A resurgence in Covid-19 cases in some regions of the U.S. has added to concerns that airlines face a prolonged recovery that will make it difficult for Boeing to meet delivery targets for its 737 Max, a crucial source of cash. The Chicago-based planemaker is already backtracking from an early May agreement with Spirit AeroSystems Holdings Inc. to deliver 125 Max frames this year.Boeing fell as much as …read more […]
On Wednesday, The Federal Reserve says it expected real GDP to contract by 6.5% in 2020. Peter Navarro, a top Trump advisors, responded Thursday. …read more […]
Unilever proposed on Thursday to ditch its dual Anglo-Dutch legal structure and create a single company in Britain to give it more flexibility for mergers and acquisitions as the coronavirus pandemic overwhelms businesses worldwide.
The U.S. Environmental Protection Agency (EPA) said on Thursday that it ordered Amazon.com Inc and eBay Inc to stop selling a wide range of pesticide products on their platforms, including those that are falsely marketed as being effective against the novel coronavirus.
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