JPMorgan Chase & Co’s profit plunged by more than two-thirds in the first quarter as the largest U.S. bank put aside nearly $7 billion in reserves to protect it from a wave of potential loan defaults in the months ahead.
Wall Street rose more than 2% on Tuesday on signs some economies would ease strict coronavirus-induced lockdowns, with investors also looking at quarterly earnings from JPMorgan and Johnson & Johnson for clues on the business hit from the outbreak.
U.S. import prices dropped by the most in more than five years in March amid declines in the costs of petroleum products and a range of other goods, pointing to import deflation that could deepen amid the coronavirus pandemic.
Group of Seven (G7) finance officials on Tuesday vowed to continue to act as needed to combat the coronavirus pandemic and stabilize the global economy, and threw their support behind a push to provide temporary debt relief to the poorest countries.
Mexico’s president has incurred a debt with President Donald Trump by accepting U.S. help to end a standoff over global oil cuts, triggering concern the American president will in return make the country pay on issues like migration and security. President Andres Manuel Lopez Obrador, a leftist oil nationalist, had balked at a demand by the OPEC+ group of oil producing nations to cut output by 400,000 barrels per day. Instead, he offered a cut of 100,000 bpd and said Trump “generously” agreed last week to help Mexico make up the rest. …read more […]
Mexico’s president has incurred a debt with President Donald Trump by accepting U.S. help to end a standoff over global oil cuts, triggering concern the American president will in return make the country pay on issues like migration and security. President Andres Manuel Lopez Obrador, a leftist oil nationalist, had balked at a demand by the OPEC+ group of oil producing nations to cut output by 400,000 barrels per day. Instead, he offered a cut of 100,000 bpd and said Trump “generously” agreed last week to help Mexico make up the rest. …read more […]
Taxpayers have questions about coronavirus stimulus checks. Here’s a look at how to track them, get direct deposit and know how much you’ll get. …read more […]
To the annoyance of some shareholders, Synchrony Financial (NYSE:SYF) shares are down a considerable 33% in the last… …read more […]
Last week saw the strongest stock market gains in 46 years, as a bear market rally sparked a surge of opportunistic buying and investor confidence. Investors appear to have gotten used to the idea that times are bad right now; the shock has worn off, and traders are willing to buy again despite heightened risk.In a technical analysis report on recent trading, a JPMorgan team led by Jason Hunter, advised, “Key tactical support rests at 2350-2386. Breaks below would open the door for a more substantial retest of the Mar low. If that unfolds, we expect support in the 2100s …read more […]
Hyundai Motor Co’s Czech car plant was the first in the central European country to get back to work on Tuesday after a three-week outage, potentially easing some of the strain on the hard-hit economy.
Bombardier Inc said on Tuesday it plans to resume production at some of its facilities in the United Kingdom, which had been halted in March due to government-mandated social distancing to battle the coronavirus pandemic.
Global debt is expected to increase significantly over the next year, the top economist of the International Monetary Fund said on Tuesday, while moratoriums on debt payments and debt restructuring may need to be continued as the world economy emerges from the coronavirus pandemic lockdown.
David George, Baird Senior Research Analyst, joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to break down the latest bank earnings results. …read more […]
Oil prices plunged again on Tuesday as investors were unconvinced that record supply cuts could soon balance markets pummeled by the coronavirus pandemic.
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