Year: 2020

With more Americans working from home, we’re buying a historic amount of computers, webcams, and monitors. …read more […]

(Bloomberg) — The sinking global economy is suffering through a colossal disinflationary shock that could briefly push it into dangerous deflation territory for the first time in decades.With many national economies all but shutting down in an effort to contain the coronavirus, prices on everything from oil and copper to hotel rooms and restaurant take-out are tumbling.“A powerful disinflationary tide is now rising,” said Joseph Lupton, global economist at JPMorgan Chase & Co.That’s worrying because it could lengthen what may be the deepest recession since the Great Depression. Ebbing pricing power makes it harder for companies that piled on debt …read more […]

Almost three months have passed since COVID-19 began its spread beyond China’s borders, and the market remains in free fall. Capping off another volatile week, stocks fell on Friday April 3 in response to disappointing U.S. economic data, offsetting gains posted in the previous session. Based on a new report from the Labor Department, the U.S. economy saw 701,000 jobs erased in March, much more than economists originally expected as the figure doesn’t even include the 10 million unemployment filings that occurred after March 14. In addition, New York Governor Andrew Cuomo announced on Friday that the state …read more […]

Billionaire investor Warren Buffett’s Berkshire Hathaway sold about 18% of its stake in Delta Air Lines Inc. (DAL) for $314 million as the U.S. airline operator said it expects revenues to plunge 90% in the second quarter.Berkshire sold about 13 million Delta shares on Wednesday and Thursday priced between $22.96 and $26.04, according to SEC filings. Separately, Buffet’s Berkshire also divested about 4% of its stake in Southwest Airlines Co. (LUV) dumping about 2.3 million shares for about $74 million, SEC filings show. Delta shares, which were trading around $59 at the start of the year, slid 0.1% to $22.48 …read more […]

You might’ve caught a headline recently that got you thinking about how to short a stock. Maybe a headline like this one from Business Insider: Traders betting on stock declines made $344 billion in just one month as coronavirus ravaged the market. Making that kind of money when most people are losing 20% to 30% of their portfolio is an appealing prospect. And one of the ways it’s possible is via short selling.

What Does It Mean to Short a Stock?
Shorting a stock is about betting against it. If you open a short position in a company or an index, …read more […]

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Luckin Coffee Inc said on Sunday it will maintain normal operations at its stores and apologised to the public, days after it announced an internal investigation had shown its chief operating officer and other employees fabricated sales deals. Shares of Luckin, which competes in China with Starbucks Corp, sank as much as 81% on Thursday in New York after it said the investigation had found that fabricated sales from the second quarter of 2019 to the fourth were about 2.2 billion yuan ($310 million). “Regarding the suspected financial fraud and the extremely bad impact it has caused, Luckin …read more […]

(Bloomberg) — Saudi Aramco delayed the release of its key monthly oil pricing list until later this week as the kingdom trades barbs with Russia about the OPEC+ meeting aimed at ending the collapse in oil prices.A new date for the announcement of Aramco’s official selling prices for May is not yet set, and the release could be pushed to Tuesday or Thursday, according to a person with knowledge of the situation who asked not to be identified because the information is private. It was due to be published today.The state oil giant is delaying the announcement to await an …read more […]

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(Bloomberg Opinion) — The global oil industry is on its knees. Without action from producers to reduce supply, the situation will get much worse as the world runs out of places to store crude pumped out of the ground that nobody wants. A big production cut could delay reaching that breaking point, perhaps for long enough for demand to start to pick up again. But it won’t happen unless everybody plays their part.The oil market got quite in a flap over President Donald Trump’s Thursday tweet that Saudi Arabia and Russia had agreed to cut production. But it’s quite clear …read more […]

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U.S. President Donald Trump said on Saturday he would impose tariffs on crude imports if he has to “protect” U.S. energy workers from the oil price crash that has been exacerbated by a war between Russia and Saudi Arabia over market share. “If I have to do tariffs on oil coming from outside or if I have to do something to protect our … tens of thousands of energy workers and our great companies that produce all these jobs, I’ll do whatever I have to do,” Trump told reporters in a briefing about the coronavirus outbreak. Oil prices …read more […]

United said starting Sunday it will go from 157 daily flights total at Newark and New York LaGuardia to just 17. Newark, the airline’s hub in the New York area, will drop from 139 daily flights to 62 destinations to 15 flights a day to nine destinations, while LaGuardia will go from 18 to 2 flights a day. …read more […]