Trading Ideas
Stocks rally despite record jobless claims
Yahoo Finance’s Jared Blikre joins the On The Move panel to discuss the latest market action. …read more […]
Year: 2020
Business News
Wall Street rallies as job losses stir talk of more stimulus
Wall Street surged on Thursday as record weekly jobless claims came in below investors’ worst fears, making a case for more aggressive stimulus to aid businesses and families wrecked by the economic fallout of the coronavirus pandemic.
Trading Ideas
Technically Speaking, the Dow Just Rocketed Out of a Bear Market
(Bloomberg) — As ridiculous as it sounds, the Dow Jones Industrial Average just climbed out of the bear market it entered two weeks ago.It’s a development that speaks to the tenuousness of market conventions in times of extreme volatility. The biggest rally since 1933 helped push the gauge up the requisite 20% from the low it hit Monday, meeting one time-honored definition of a bull market.Right now, it’s a milestone only a statistician could love given the index remains almost 25% below the record high it touched on Feb. 12 — though that doesn’t mean it won’t keep going.While weird, …read more […]
Business News
Deutsche Bank studies state aid for staff in coronavirus crisis
Deutsche Bank is for the first time considering asking its German staff to cut their hours and take government money instead as it tries to navigate the coronavirus crisis.
Business News
German airline Condor applies for 200 million euro in state aid: sources
The German airline Condor has applied for an additional 200 million euros in state aid in the wake of the coronavirus outbreak, two people with knowledge of the matter said on Thursday.
Business News
Oil prices sink as crippled demand outweighs stimulus hopes
Oil prices fell on Thursday after three sessions of gains as restrictions on travel worldwide crimped fuel demand, with U.S. crude futures plunging about 4% after the United States scrapped plans to buy domestic oil for its emergency reserve.
Business News
IMF asks G20 to back doubling of its emergency financing to fight coronavirus
The International Monetary Fund on Thursday asked G20 leaders to back a doubling of its emergency financing capacity to strengthen its response to the rapidly spreading coronavirus pandemic that is set to cause a global recession in 2020.
Business News
WeWork has enough cash to meet coronavirus challenges: letter
Shared-office operator WeWork told investors on Thursday the $4.4 billion in cash and cash commitments it had at year-end 2019 is enough to execute its five-year plan and manage the challenges posed by the coronavirus crisis.
Trading Ideas
Mortgage Rates Slip While Home Sales Head for a Deep Freeze
(Bloomberg) — U.S. mortgage rates fell for the first time in three weeks. But for would-be homebuyers frozen in fear of an economic meltdown, borrowing costs are no longer a prime concern.The average rate for a 30-year fixed loan was 3.5%, down from 3.65% last week, Freddie Mac said in a statement Thursday.Americans hunkering down in coronavirus quarantine are in no mood to shop for homes. Even if they can buy, many worry about how bad the coming recession will be, and how long it will last. A total of 3.28 million people sought unemployment benefits in the week ended …read more […]
Trading Ideas
Coronavirus could accelerate U.S. cannabis legalization
States like New York will see significant revenue shortfalls due to coronavirus. Legalizing cannabis could make up for a quarter of the losses, which could help push legislation forward. …read more […]
Business News
Nestle staff to get full salary for three months where COVID-19 halts work
Nestle , the world’s biggest food company, said it would pay full salaries to employees affected by work stoppages for a minimum of three months, to protect them from the fallout of the coronavirus pandemic.
Business News
Exclusive: U.S. nears rule-change to restrict Huawei’s global chip supply – sources
Senior cabinet officials in the Trump administration agreed to new measures to restrict the global supply of chips to China’s Huawei Technologies, sources familiar with the matter said, as the White House ramps up criticism of China over coronavirus.
Business News
IATA urges G20 to support airline industry
The International Air Transport Association on Thursday urged the group of the 20 major economies to act quickly to prevent irrecoverable damage to the airline industry that has been shaken by the coronavirus crisis.
Trading Ideas
Tesla Says Two Employees Tested Positive for Coronavirus
(Bloomberg) — Two Tesla Inc. employees have tested positive for the coronavirus, according to an internal email.The two staffers had been working from home for almost two weeks and were not symptomatic when they were in the office, according to the memo. Both are quarantined at home and recovering well, the company told employees.The email was sent out by Tesla’s environment, health and safety department and signed by Laurie. The head of the division is Laurie Shelby, a vice president. Tesla didn’t immediately respond to requests for comment on the memo, which doesn’t specify which office the employees worked in.Chief …read more […]
Trading Ideas
Roku’s Path to Profitability Unclear, Says Analyst and Remains Neutral
If some companies have a host of new issues to deal with following the unexpected trauma of a worldwide pandemic, then other companies have a brewing opportunity. Although you can probably count Roku (ROKU) as one of the most likely candidates to come near the top of such a list, the streaming platform hasn’t been immune to the coronavirus. Roku’s share price is down by 30% year-to-date. According to Wedbush analyst Michael Pachter, the recent share price decline has “reined in Roku’s usually lofty valuation,” and is the reason why the analyst reduced the price target from $115 to $86. …read more […]