Mexican cement company Cemex said on Monday it would resume operations in the country, hours after announcing a pause, as fresh guidelines from the government permitted such a move.
The governors of New York, New Jersey and Louisiana pointed to tentative signs on Monday that the coronavirus outbreak may be starting to plateau in their states but warned against complacency as the death toll nationwide approached 11,000.
A United Parcel Service Inc worker employed in Kentucky died over the weekend from a COVID-19 infection, Gov. Andy Beshear said at a public health briefing on Monday.
A United Parcel Service Inc worker employed in Kentucky died over the weekend from a COVID-19 infection, Gov. Andy Beshear said at a public health briefing on Monday. UPS separately said that a “valued member of our management team” at its Worldport global shipping hub in Louisville, Kentucky, had died. UPS employs roughly 20,000 workers in the Louisville area – mainly at Worldport, which is central to the U.S. government’s effort to rush in medical supplies for healthcare workers. …read more […]
Asian stock markets rallied for a second day on Tuesday, and riskier currencies rose, buoyed by tentative signs the coronavirus crisis may be levelling off in New York and receding in Europe.
Major oil producers including Saudi Arabia and Russia are likely to agree to cut production at a Thursday meeting but only if the United States joins the effort, aimed at coping with the disastrous effect of the coronavirus on fuel demand, three OPEC+ sources told Reuters on Monday. Worldwide oil demand has dropped by roughly 30%, or about 30 million barrels a day, at the same time that Saudi Arabia and Russia have been flooding markets with extra supply. Last week, in response to a weeks-long market rout, the Organization of the Petroleum Exporting Countries and its allies …read more […]
Coronavirus is probably the 1 concern in investors’ minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […] …read more […]
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 […]
Samsung Electronics Co Ltd said on Tuesday its first-quarter operating profit likely managed to rise slightly from a slump a year earlier, as solid chip sales helped cushion the blow from the coronavirus pandemic on smartphones and TVs.
(Bloomberg) — From Russia’s northeastern coast of Sakhalin to the Permian basin in the U.S., oil is going cheap as sellers slash prices in a desperate attempt to attract buyers.Refiners across the world have made deep cuts to crude-processing rates due to slumping consumption and a growing fuel glut, leaving producers struggling to find buyers for their cargoes. Sellers, meanwhile, are aggressively dropping the price of their oil while they tussle for the remnants of demand, with the prospect of forced output cuts looming as global storage swells.In recent days, benchmark crude prices have rallied in the financial markets, primarily …read more […]
Oil rose on Tuesday amid hopes that the world’s biggest producers of crude will agree to curtail production as the coronavirus pandemic ravages the global economy, even as analysts cautioned the cuts may do little to boost demand. Brent crude was up by 73 cents, or 2.2%, at $33.78 a barrel by 0026 GMT after falling more than 3% on Monday. The world’s main oil producers including Saudi Arabia and Russia are likely to agree to cut output at a meeting on Thursday, although that would also depend on the United States doing its share, sources told …read more […]
Oil rose on Tuesday amid hopes that the world’s biggest producers of crude will agree to curtail production as the coronavirus pandemic ravages the global economy, even as analysts cautioned the cuts may do little to boost demand.
The Federal Reserve on Monday moved to bolster a new small-business lending program by allowing banks to turn those loans over to the U.S. central bank for cash, easing concerns among banks about getting stuck holding the low interest loans.
Governors of New York, New Jersey and Louisiana pointed to tentative signs on Monday that the coronavirus outbreak may be starting to plateau but warned against complacency as the death toll nationwide topped 10,000 and the number of known infections surpassed 360,000.
(Bloomberg) — Gold surged, with futures leading the way higher to hit the highest level in more than seven years, as investors weighed the widening economic fall-out from the coronavirus pandemic and the prospects of more stimulus in top economies.Bullion is in demand, with JPMorgan Chase & Co.’s Jamie Dimon saying the disease will lead to a major major downturn. The jump came even as risk assets posted gains on signs the outbreak may be leveling off. Amid the rally, the spread between gold futures and spot prices ballooned once again.“Even though hopes are rising of a slowdown in the …read more […]
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