Several automakers on Monday said U.S. buyers of new vehicles will have the option to defer their payments and customers with existing car loans could ask for payment rescheduling if impacted by shutdowns due to the spread of coronavirus.
U.S. gasoline refining margins fell to the lowest since December 2008 on Monday, as the spread of coronavirus intensified in the United States, disrupting daily life for Americans who have been told to stay indoors and off the road.
The United States and other rich countries need to start spending their way out of the coronavirus crisis, White House advisers, the International Monetary Fund and business groups said Monday, amid growing market panic about the pandemic.
U.S. stocks fell sharply on Monday as the Federal Reserve’s drastic move to cut interest rates to near zero fueled anxiety over the extent of economic damage from the coronavirus pandemic.
U.S. oil output growth from the Permian basin is expected to offset declines in every other shale formation in April, helping push overall production up by about 18,000 barrels per day (bpd) to a record 9.08 million bpd, data showed on Monday.
Here is one plan of attack for surviving markets in turmoil due to the evolving coronavirus situation, according to an expert. …read more […]
The oil products markets globally are caught between a rock and a hard place as the impact of ultra cheap oil, which should be a boon for refiners, is mitigated by record low prices for gasoline and jet fuel.
Dr. Charles Nenner is back for an exclusive interview, discussing his outlook for the economy. Spoiler alert: it’s grim – but opportunities abound for savvy investors.
Predictive markets no longer view Donald Trump as a shoe-in for reelection. …read more […]
Stop expecting a big bounce in the economy this year – the coronavirus will remain a drag. …read more […]
Major airlines sought a U.S. government bailout of more than $50 billion as the White House move urgently drafting a financial assistance package in the wake of the steep falloff in U.S. travel demand.
LATAM Airlines Group, the continent’s largest carrier, on Monday canceled 90% of its international flights as demand collapsed and countries shut down borders in light of the coronavirus outbreak, leaving the region increasingly isolated.
The market’s sell-off has put some solid stocks on sale, none more so than those in the embattled finance sector. Year-to-date, the BKX (KBW Nasdaq Bank Index) is down 43% compared to the S&P 500’s 24% downturn.Up until recently, Oppenheimer’s Dominick Gabriele has been recommending investors “take chips off the table,” but the extent of the pullback now presents opportunity.”Financials are cyclical, and this recent sell-off illustrates to us that, as we expected, investors still see them that way and will panic-sell them ahead of economic worries as they were a big part of the last recession,” Gabriele wrote. However, …read more […]
The global coronavirus pandemic and resulting market slump seem like an entirely new challenge for wealth builders.
But, as Alexander Green explains, this time really isn’t different.
Sir John Templeton was one of the greatest investors of the 20th century.
Founder of the Templeton Growth Fund, he didn’t just beat the market. He trampled it.
Forbes magazine described him as “one of the handful of true investment greats in a field crowded with mediocrity and bloated reputations.”
In 1999, Money magazine named him “arguably the greatest global stock picker of the century.”
Templeton is perhaps best known for almost single-handedly pioneering the field of global equity …read more […]
Uber Technologies Inc’s food delivery business, Uber Eats, said on Monday it would waive delivery fee for independent restaurants across the United States and Canada.
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