Oil prices rose on Tuesday, extending gains for a fourth straight session, amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic.
Starbucks Coffee Japan said it was reopening many of its stores in Japan, including Tokyo, starting on Tuesday, although many of them will be limited to take-out and drive-through services.
Nasdaq Inc is set to unveil new restrictions on initial public offerings (IPOs), a move that will make it more difficult for some Chinese companies to debut on its stock exchange, people familiar with the matter said on Monday.
(Bloomberg) — Oil’s rally extended to a fourth day as a combination of recovering demand, production cuts and promising test results for a coronavirus vaccine brightened the outlook for energy prices.Futures in New York rose around 4% to past $33 a barrel after closing at the highest level in almost 10 weeks on Monday. The June contract expires Tuesday but a repeat of last month’s plunge below zero is highly unlikely. There were far higher trading volumes in the July contract, which advanced around 3%.Crude got an extra boost on Monday after American biotechnology company Moderna Inc. said its vaccine …read more […]
Is now the time to resume the US-China trade war? Not according to Wedbush analyst Daniel Ives. The 5-star analyst argues a new US Commerce Department directive to halt the shipment of US semiconductors to Chinese tech giant Huawei, represents “a ‘doubling down’ on sanctions against this major Chinese smartphone artery.”In retaliation, according to China’s Global Times, Chinese authorities are considering putting specific US companies, including Apple (AAPL), on an “unreliable entity list,” thereby positioning Apple and its peers in the middle of the renewed trade battle crossfire.Taking a step back, Ives said, “The last thing any already white knuckle …read more […]
Posted by OFX AUD – Australian Dollar The Australian dollar rallied on Monday rising steadily throughout the day, extending beyond 0.65 to touch intraday highs at 0.6527. Souring risk sentiment forced the AUD lower through trade last week as fears of a second wave of infections enveloped markets. That sentiment shifted on … Continue reading “Promise of a vaccine spurs risk on move, driving the AUD back through 0.65″The post Promise of a vaccine spurs risk on move, driving the AUD back through 0.65 appeared first on . …read more […]
Asian shares were set to rise on Tuesday after data from an early-stage trial for a coronavirus vaccine lifted hopes for a near-term economic recovery, sending global equity markets and oil prices surging.
The spotlight Tuesday will be on earnings from retail heavyweights Walmart, Home Depot and Kohl’s and Federal Reserve Chairman Jerome Powell’s testimony on Capitol Hill. …read more […]
Zarchi Lwin pawned her only two gold bangles for $140 when the owner of the Myanmar factory where she sewed winter coats for British retailer Next Plc shut it down after orders dried up due to the coronavirus.
As stores closed across Europe and the United States in March and April in response to the new coronavirus, many fashion brands and retailers cancelled orders for clothes, bags, and shoes worth billions of dollars from Asian garment factories, forcing them to close and lay off hundreds of thousands of workers.
The U.S. Securities and Exchange Commission (SEC) on Monday said it settled charges against three former KPMG LLP audit partners stemming from a cheating scandal at the firm.
Former Moderna director Moncef Slaoui who now leads the White House’s vaccine development effort will divest all of his equity interest, the company said. …read more […]
(Bloomberg) — Overstock.com Inc.’s stock price has been on a tear during the coronavirus crisis, but behind the scenes the online retailer is locked into a pitched battle with Wall Street over its controversial plans to issue a first-of-its-kind digital dividend.The fight stems from Overstock’s demand to control where the new securities are allowed to trade, rather than letting investors buy and sell them wherever they choose. Earlier this month, the company sent a letter to a number of financial firms reminding them that it expects all trading in the dividend to take place on a venue called tZERO, which …read more […]
Stocks are coming off a big day, with investor cheered by news of a coronavirus vaccine, and potential monetary stimulus. …read more […]
We’re in uncharted territory.
In the past, we’ve battled our way back from corrections, bear markets and financial collapses.
We’ve gone toe-to-toe with economic “black swans” that have wiped out trillions of dollars.
But this is the first time many industries have faced a global pandemic. Most of them weren’t around for the Spanish flu of 1918.
So for some nascent industries, this will be their first recession.
One of those is cannabis.
But one company recenty rebounded. And it’s leading the charge for others in the sector to come back stronger.
Back From the Brink
Over the past couple of months, we’ve heard a lot of celebrating …read more […]
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
