U.S. President Donald Trump said on Thursday he had a good conversation with Russian President Vladimir Putin and Saudi Arabia’s King Salman and expected that OPEC and other countries would be announcing a deal soon.
U.S. President Donald Trump said on Thursday that airlines could receive details this weekend about the terms of a $32 billion payroll grant to offset the impact of the coronavirus outbreak, which sources told Reuters has received around 275 applicants.
If my crystal ball had been working back in January, I would have been able to tell you to buy “virus stocks.”
By “virus stocks,” I mean companies that saw their share prices surge as the COVID-19 pandemic escalated… rare businesses that actually benefited from the pandemic.
Both Zoom Video Communications (Nasdaq: ZM) and Teladoc Health (NYSE: TDOC) are on the good side of the stay-at-home orders that most Americans are facing. There aren’t many businesses that can say that.
Not surprisingly, the 2020 stock charts of both companies reflect this…
Zoom Video’s stock is up over 80% this year. Zoom provides a remote …read more […]
Oil prices tumbled on Thursday on doubts that a deal between OPEC and allies to make a record oil supply cut would be enough to offset the collapse in global fuel demand caused by the coronavirus pandemic.
U.S. Treasury Secretary Steve Mnuchin was due to brief President Donald Trump at the White House on Thursday about the government’s review of requests for $32 billion in grants from passenger airlines, cargo carriers and airport contractors.
Editor’s Note: Tomorrow’s a market holiday – so that means two things.
You get a long weekend break from trading the stock market.
There won’t be a Trade of the Day issue on Friday.
Have a great weekend – we’ll talk to you on Monday!
– Jason Roberts, Senior Managing Editor
Oil has been in the news in a big way…
The market was oversupplied with oil going into this market crash, and now there is an abundant supply like we have never seen before. The U.S. produces 15 million barrels per day (bpd). It consumes 19 million in a booming economy. The consumption number is …read more […]
OPEC and its allies led by Russia agreed on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.
OPEC and other major oil producers on Thursday said they would cut output by 10 million barrels per day for two months in the face of a huge fall in demand due to the coronavirus crisis.
(Bloomberg) — Three years ago, America’s largest pension fund made an unusual investment. It bought so-called tail-risk protection, a kind of insurance against financial catastrophe. In a market meltdown like the one sparked by the coronavirus, the strategy promised a massive payout — more than $1 billion.If only the California Public Employees Retirement System had stuck with the plan. Instead, Calpers, as the fund is known, removed one of its two hedges against a bear market just weeks before the viral outbreak sent stocks reeling, according to people familiar with its decision.The timing couldn’t have been worse. The fund had …read more […]
(Bloomberg) — Credit risk eased dramatically now that the Federal Reserve’s unprecedented effort to save corporate debt just got even bigger, adding a backstop to what could be hundreds of billions of dollars worth of bonds that are expected to fall to junk.The central bank will expand its bond-buying program to include debt that was investment-grade rated as of March 22 but was later downgraded to no lower than BB-, or three levels into high yield, according to a statement Thursday. It’ll also buy exchange-traded funds that track speculative-grade debt, which surged the most in a decade following the announcement. …read more […]
Caterpillar Inc is in talks with banks for a fresh $3 billion nine-month revolving credit facility, a person familiar with the matter said on Thursday.
It’s always nice to have a backup.
An extra set of batteries in case the flashlight goes out…
A spare key for when you lock yourself out of the house…
Or, in our case, an emergency plan for when the market goes off its meds.
I’m sure you know the old saying “I’d rather have it and not need it than need it and not have it.”
Well, over the past couple of weeks, you definitely needed this backup plan.
The major U.S. stock indexes collapsed more than 30% in less than a month. And many Americans found themselves sheltering in place until further notice.
But if …read more […]
Cement and steel companies are being warned by investors over their lobbying on planned European Union carbon costs, saying they are effectively asking to be compensated twice over.
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