The U.S. Department of Energy plans to announce as soon as Wednesday it will allow oil companies to lease space in the Strategic Petroleum Reserve (SPR), as it tries to comply with President Trump’s directive to fill the facility to capacity, two industry sources said.
The U.S. Department of Energy plans to announce as soon as Wednesday it will allow oil companies to lease space in the emergency oil reserve, as it seeks to comply with President Donald Trump’s directive to fill the facility to capacity, two industry sources said. The Strategic Petroleum Reserve, or SPR, has the capacity to take another 77 million barrels of oil, a little less than the country uses in four days. Trump ordered the Department of Energy, or DOE, on March 13 to take advantage of low oil prices and fill the reserve “to the top”, in …read more […]
U.S. pension funds that delayed rebalancing their portfolios are likely to pump about $400 billion into stocks over the next two quarters, analysts at JP Morgan said, providing a potential boost to equity markets battered by the coronavirus pandemic.
U.S. President Donald Trump said on Tuesday he would join Saudi Arabia and Russia, if need be, for talks about the sharp fall in oil prices resulting from a price war between the two countries.
U.S. printer maker Xerox Holdings Corp walked away from its $35 billion hostile cash-and-stock bid for HP Inc on Tuesday, after the coronavirus outbreak weighed on its campaign to take over the PC and printing equipment manufacturer.
Macy’s Inc will be removed from the benchmark S&P 500 stock index , the S&P Dow Jones Indices said on Tuesday, as coronavirus-induced store closures compound the retail sector’s struggles with a shift to online shopping.
An independent group of workers at Whole Foods Market called on colleagues to phone in sick to the grocer’s stores on Tuesday to protest what they say is a lack of adequate compensation and protections from the coronavirus.
Zoom Video Communications Inc’s average user numbers in March were nearly three times that of its nearest rival Microsoft Corp’s Teams, according to research firm Apptopia, as the cornonavirus-driven stay-at-home lifted demand for video conferencing platforms.
Thanks to a socially distant world, the amount of people video chatting on platforms like Zoom and Skype is skyrocketing.
I’ve written about Zoom right here on Trade of the Day – as a great play during these times.
And today I’m starting a new initiative to stay connected with you via this new video format. I call it Trade Talk Tuesdays.
In today’s segment, I reveal my top quarantine play that nobody is talking about. This stock is going to see a massive increase in sales in the next “hoarding phase” – and I’m not talking about toilet paper.
Right now, it’s an …read more […]
In every market crash, there is always at least one epic investing success story – someone who saw big trouble coming and didn’t just avoid it, but scored windfall profits because of it.
Last time around, in 2008 and 2009, that success story was so big that Hollywood made a movie about it – The Big Short.
Given that The Big Short had an A-list cast that included Brad Pitt, Christian Bale, Ryan Gosling and Steve Carell… chances are that you saw it.
The story was so good that The Big Short even earned several Academy Award nominations.
If you didn’t see it, here …read more […]
Caterpillar Inc on Tuesday said it will not hand out annual salary increases this year as part of cost cut plan to deal with the coronavirus economic fallout.
Stocks futures kicked off the overnight session little changed on the heels of another down day during regular equity trading, during which the Dow solidified its worst quarterly drop since 1987. …read more […]
(Bloomberg) — Tesla Inc. tends to pull out all the stops at the end of each quarter, with Chief Executive Officer Elon Musk often rallying the troops to deliver as many vehicles as possible to customers.This approach probably didn’t work well for Tesla in March, with shelter-in-place orders and distancing guidelines around the globe limiting how many vehicles the company could hand over. While Musk tried to salvage the quarter by introducing a “touchless” delivery option in select locations, the coronavirus pandemic is expected to have done a number on demand for all automakers.Analysts on average estimate Tesla delivered roughly …read more […]
Wall Street’s three major indexes tumbled on Tuesday, with the Dow registering its biggest quarterly decline since 1987 and the S&P 500 suffering its deepest quarterly drop since the financial crisis on growing evidence of massive economic damage from the coronavirus pandemic.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
