Tesla Inc Chief Executive Officer Elon Musk sent employees an email on Monday telling them to stay at home if they felt ill or uncomfortable, two people who saw the memo told Reuters.
Oil and gas companies around the world are planning to slash spending in the face of a plunge in oil prices caused by the spread of the coronavirus and a push by Saudi Arabia and Russia to flood the market with supply.
(Bloomberg) — Tesla Inc. Chief Executive Officer Elon Musk told employees to come to work only if they are comfortable doing so, signaling that the company’s auto plant in Fremont, California, will likely stay open amid growing concern over the coronavirus outbreak.“First, I’d like to be super clear that if you feel the slightest bit ill or even uncomfortable, please do not feel obligated to come to work,” Musk wrote to staff in an email seen by Bloomberg News. “I will personally be at work, but that’s just me. Totally ok if you want to stay home for any reason.”Tesla …read more […]
The coronavirus shockwaves rippling through U.S. stocks are forcing investors to contemplate outcomes more dire than a recession, including several quarters of declining economic activity, a credit crisis or even a depression.
Oil rose more than $1 on Tuesday as bargain hunters emerged after recent sharp falls due to the coronavirus pandemic and the price war between Saudi Arabia and Russia, but fears of a recession still dragged on the market.
Nordstrom Inc said on Monday it would temporarily shut its stores in the United States and Canada and pull its fiscal 2020 forecast, as the upscale retailer joins its peers in an effort to limit the spread of the coronavirus.
(Bloomberg) — U.S. futures advanced and the yen slid in volatile trading after the biggest plunge in Wall Street stocks since 1987. Asia-Pacific shares ranged from a further drop in South Korea to gains in Australia.Japan’s share benchmark swung from a loss of 3% to a gain of more than 3%. Australia jumped. Hong Kong and China fluctuated. S&P 500 and Nasdaq futures reached their limit-up. The S&P 500 Index sank 12% Monday, erasing its gain for 2019, after President Donald Trump warned of a possible recession, with economic disruption from the coronavirus potentially extending into summer. Treasury yields rose …read more […]
Asian shares fell on Tuesday in a topsy-turvy session following one of Wall Street’s biggest one-day routs in history as headlines about the coronavirus outbreak and its global economic impact whiplashed investor sentiment.
Oil prices rose more than $1 on Tuesday as the recent sharp falls due to the coronavirus pandemic encouraged bargain hunters to come forward, although the market remains volatile as the spread of the infection disrupts economies and hurts demand.
Oil rose more than $1 on Tuesday as bargain hunters emerged after recent sharp falls due to the coronavirus pandemic and the price war between Saudi Arabia and Russia, but fears of a recession still dragged on the market. Brent crude was up by 1.8%, or 55 cents, to $30.60 a barrel by 0410 GMT, after hitting a high of $31.25. U.S. West Texas Intermediate (WTI) crude rose 3.7%, or $1.06, to $29.76, having come off a high of $30.21. …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 […]
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 […]
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 […]
Apparel retailer Nordstrom Inc on Monday withdrew its fiscal 2020 forecast and said it would close stores in the United States and Canada for two weeks due to the coronavirus pandemic.
The company said it would close stores, including Nordstrom full-line, Nordstrom Rack and Trunk Club clubhouses, effective March 17, in an effort to arrest the spread of the virus. It will provide pay and benefits to its store employees during the period, Nordstrom said. The Seattle-based retailer also suspended share repurchases as part of a plan to further cut its expenses. …read more […]
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