We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […] …read more […]
Big gains in small caps stocks are fueling hopes that a bounce in broader equity markets may stick, as investors ponder how quickly the U.S. economy can emerge from its coronavirus-fueled slowdown.
(Bloomberg) — California reported its largest one-day jump in new cases, adding 2,603 as deaths rose by 95.More than half of small businesses expect to close within six months, according to a new survey. New York City’s average unemployment rate may triple to 12% this year, according to the city comptroller, with more than 900,000 people losing their jobs.President Donald Trump backtracked on disbanding the coronavirus task force and said he’d soon announce new members to focus on reopening, after acknowledging it may cause more people to get ill and die.Germany, the U.K., Denmark and the Netherlands are planning additional …read more […]
Oil prices slid and world equity markets seesawed on Wednesday as investor hopes for a pickup in business activity were dashed by downbeat economic data and a rise in U.S. crude stockpiles to three-year highs that highlighted low fuel demand.
(Bloomberg) — Rental-car companies struggling to survive the coronavirus pandemic’s catastrophic blow to their business have been working with automakers to call off purchases, in some cases even redirecting vehicles in transit to their now largely neglected parking lots.General Motors Co. is taking back cars it agreed to sell that were on their way to Hertz Global Holdings Inc., Avis Budget Group Inc. and closely held Enterprise Holdings Inc., a spokesman said. Hyundai Motor Co. also confirmed it has redirected some vehicles to its retailers that it was planning to produce for fleet customers.Early last month, Fiat Chrysler Automobiles NV …read more […]
The coronavirus pandemic brought the U.S. auto industry to its knees, but Americans’ love affair with beefy pickup trucks is helping the Detroit automakers get on the road to recovery.
Many small biotech players have put the foot on the gas in 2020. With the urgent need for a COVID-19 vaccine and treatment still the number one global priority, this comes as no surprise.Athersys (ATHX) is among those to rise to the challenge and the market has rewarded the micro-cap accordingly. Shares have appreciated by 114% since the turn of the year.Yet, Dawson James analyst Jason Kolbert believes the upward movement has a long way to go.Kolbert reiterated a Buy rating on ATHX shares along with a $12 price target. Investors can expect returns of a whopping 360%, should the …read more […]
The benchmark S&P 500 rose modestly on Wednesday, with gains in technology shares offsetting declines in financials and defensive groups as data showing U.S. private employers laid off 20 million workers in April underscored the economic fallout of the coronavirus outbreak.
CFRA Analyst Arun Sundaram joins Yahoo Finance’s Zack Guzman to discuss Beyond Meat’s latest quarterly results amid the coronavirus. …read more […]
With temperature scanners on the door and tables partitioned by plexiglass shields in the breakout area, workers at one of Renault’s French plants are adjusting to new routines as carmakers try to cope with the coronavirus crisis.
Insolvent or overly leveraged firms, including oil drillers and oil services firms, won’t be able to tap the U.S. central bank’s “Main Street” emergency lending program, Dallas Federal Reserve President Robert Kaplan said on Wednesday.
When you’re known as the energy capital of the world, oil busts are nothing new. Like in other cities, the coronavirus has shut down much of Houston’s economic activity, slashing thousands of jobs as well as sales tax revenues. Mayor Sylvester Turner expects a city budget deficit of about $200 million, the worst in the history of this city of more than 2.3 million, the country’s fourth largest. …read more […]
Oil prices slid and world equity markets seesawed on Wednesday as investor hopes for a pickup in business activity were weighed against downbeat economic data and low fuel demand highlighted by a rise in U.S. crude stockpiles to three-year highs.
Facebook Inc’s new content oversight board will include a former head of state, a Nobel Peace Prize laureate and several constitutional law experts and rights advocates in its first 20 members, the company announced on Wednesday.
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