Business News
Citigroup will temporarily close up to 15% of branches
Citigroup Inc will temporarily close up to 15% of its U.S. branches in light of reduced foot traffic amid the coronavirus outbreak, a spokesman told Reuters.
Year: 2020
Business News
Auto industry urges U.S. lawmakers to ensure ‘sufficient liquidity’
Major automakers, parts suppliers and auto dealers urged U.S. lawmakers on Monday to provide “robust credit facilities” to ensure “sufficient liquidity” in the auto industry despite the coronavirus outbreak.
Trading Ideas
A Country’s Future as World’s Fastest-Growing Economy Dims
(Bloomberg) — When Exxon Mobil Corp. came to Guyana, the U.S. oil giant brought with it the promise of extraordinary economic growth. Now the tiny South American country is embroiled in a bitter battle over who might control that wealth just as the crude starts to flow.In November, the International Monetary Fund gave Guyana the nod as the world’s fastest growing economy on the strength of Exxon’s oil finds. Since then, a fight for political control has led to a disputed election that’s spurring calls for international sanctions as a price rout subverts the nascent oil boom and a killer …read more […]
Trading Ideas
Stocks soar as Congress works toward $1.6T stimulus package
The early gains came after the major averages plunged Monday despite the Federal Reserve announcing it would buy unlimited amounts of assets to support the economy. …read more […]
Trading Ideas
Nike to report Q3 earnings amid the backdrop of COVID-19
Nike announces Q3 earnings on amid the backdrop of the COVID-19 pandemic. …read more […]
Business News
Oil rises on Fed steps to support economy, hopes of U.S. aid package
Oil rose about 2% on Tuesday after the U.S. Federal Reserve said it would take step to bolster the economy and on growing hopes the United States will soon reach a deal on a $2 trillion coronavirus economic package.
Business News
Wall Street bounces on hopes of $2 trillion stimulus, Boeing boost
Wall Street bounced from three-year lows on Tuesday on hopes of a major fiscal stimulus to blunt the economic damage from the coronavirus pandemic, while Boeing surged on signs that its grounded jet could fly by the middle of the year.
Business News
After solid fourth-quarter, investors should brace for U.S. buyback come-down
After a 3.2% increase in U.S. corporate share buybacks between the third and fourth quarters, investors will see Q1 reductions and a “dismal” Q2 as companies look to conserve cash during the coronavirus crisis, according to S&P Dow Jones Indices.
Business News
Ford joins GE, 3M in speeding up ventilator, respirator production
Carmaker Ford Motor Co on Tuesday jumped into the emergency push by major U.S. manufacturers to produce thousands of ventilators and respirators needed to help combat the spread of the coronavirus under a partnership code-named “Project Apollo.”
Business News
Ford extends production halt at U.S. plants beyond March 30
Ford Motor Co said on Tuesday it does not plan to restart production at its manufacturing plants in the United States, Canada and Mexico on March 30, as was originally planned.
Trading Ideas
Will the Stock Market Continue to Drop Due to Coronavirus?
There is one question that will continue to haunt the minds of American investors during the coronavirus outbreak. Will the stock market continue to drop? We have already seen record breaking losses. But, will this trend continue going forward?
We are in a bear market for the first time in over 10 years. We’re seeing stocks plummet at rates higher than the 1987 crash. The Dow Jones, the S&P 500 and the Nasdaq are falling off a cliff. However, what can we expect going forward?
Will the Stock Market Continue to Drop or Make Gains?
There are many factors influencing the recent bear …read more […]
Trading Ideas
The giant hole in Trump’s back-to-work plan
Getting people back to work requires one thing Trump isn’t even talking about. …read more […]
Trading Ideas
3 Biotech Stocks Fighting the Coronavirus; Here’s What to Expect
A saying on Wall Street is that the market hates uncertainty, and unfortunately that looks to be playing out in global stock markets currently. In historically quick fashion, the vast majority of stocks are hitting bottom – most have already hit 52-week lows and many are hitting multi-year lows. It’s a different story with certain food and healthcare-related stocks. A screen of TipRanks for stocks holding up in this tough environment details a few names that hit their 52-week highs. Not coincidentally, they are all involved with fighting the novel coronavirus, or Covid-19Rightfully so, Covid-19 fears continue to …read more […]
Business News
U.S. new home sales fall; January revised sharply up
Sales of new U.S. single-family homes fell in February after surging in the prior month, and could decline further because of the coronavirus pandemic, which is boosting unemployment and severely disrupting economic activity.
Business News
Spirit AeroSystems suspends Boeing-related production for two weeks
Spirit Aerosystems , Boeing Co’s largest supplier, is temporarily suspending production for the airplane maker at many of its facilities in the United States for two weeks, as the global coronavirus pandemic saps demand across the industry.