Year: 2020

Since the virus scare began, and during the economy’s swing from bull to bear, investment bank Goldman Sachs has kept its finger on the pulse of the stock market. Fortunately for investors, the bank predicts that the S&P 500 won’t register new lows, and has been advising clients to ‘buy the dip.’Silvia Ardagna, of the GS Private Wealth Management investment strategy group, noted, “Our own advice to clients is that right now is a good time to get back into markets and take advantage of the decline in equity markets to position for the rebound.”Ardagna and her team see a …read more […]

(Bloomberg) — Gold could top $2,000 an ounce and will remain elevated over the next five years as the global economy contends with the impact of the coronavirus pandemic, according to the head of Newmont Corp., the world’s top miner of the precious metal.“The level of stimulus globally that’s going into the economy certainly underpins higher gold prices for the longer term, and I don’t think that stimulus has stopped yet,” Chief Executive Officer Tom Palmer said Thursday in a phone interview from Perth. “You could certainly see scenarios that have it pushing north of $2,000.”Spot bullion is trading around …read more […]

China’s antitrust authority has announced a conditional approval for Nvidia’s (NVDA) highly anticipated $6.9B acquisition of Mellanox (MLNX). On the news Nvidia stock is currently up 4% in Thursday’s trading.Encouragingly the conditions only require the companies to not add bundles or other “unreasonable” requirements when selling devices in China.Following the reported approval, Bank of America analyst Vivek Arya reiterated his NVDA buy rating with a $340 price target (17% upside potential).“Our positive views on NVDA are based on its attractive organic prospects” he told investors.“However, we believe potentially adding highly complementary Mellanox high-performance computing/networking products could enhance NVDA’s critical data …read more […]

OPEC on Thursday again cut its forecast for 2020 global oil demand due to the “historic shock” delivered by the coronavirus outbreak, and said the reduction may not be the last. Last month, OPEC expected a small increase in demand of 60,000 bpd. “The oil market is currently undergoing historic shock that is abrupt, extreme and at global scale,” OPEC said in the report. …read more […]

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Google will allow business and education users on Gmail.com to directly take calls on its video conferencing tool Meet starting Thursday, a new feature being offered as the Alphabet Inc unit seeks to capitalize on security and other concerns with rival services. The integration of Meet with e-mail is the first of several features being launched ahead of schedule because of a surge in demand for video conferencing, Google vice president Javier Soltero told Reuters. Meet, which is available only to schools, businesses and governments and is distinct from the consumer-focused Hangouts tool, has added daily users …read more […]