Business & Finance News
Oil prices tumbled and global equity markets wavered on Friday as China’s move to impose a new security law on Hong Kong further strained U.S.-Sino relations and clouded economic recovery prospects.
Oil prices tumbled about 2% on Friday on rising U.S.-China tensions and doubts about how quickly fuel demand would recover from the coronavirus crisis.
Italy’s Economy Minister Roberto Gualtieri said on Friday he was confident the government and Fiat Chrysler would be able to complete a deal over a state-backed loan for the carmaker.
New Chinese national security restrictions imposed on Hong Kong could draw a U.S. revocation of the former British colony’s “special status” under U.S. law, a move that would have far-reaching trade and investment implications.
Wall Street was mixed on Friday in a mostly tame finish to a week of strong gains, as investors gauged China-U.S. tensions and amid ongoing uncertainty about the pace of economic recovery from the coronavirus.
A group representing many major automakers on Friday said it was intervening in a lawsuit that says the Trump administration did not go far enough in weakening — but not freezing — Obama administration standards to revise fuel economy standards.
Organizers said Friday they were cancelling the 2020 New York auto show that had previously been pushed back until August, citing the ongoing coronavirus pandemic and the venue’s use as a field hospital.
U.S. stock indexes moved in a flat-to-low range on Friday as investors gauged Sino-U.S. tensions amid continued uncertainty over the pace of economic recovery from the coronavirus.
Oil prices tumbled about 3% on Friday on rising U.S.-China tensions and doubts about how quickly fuel demand would recover from the coronavirus crisis.
Hedge funds concentrated their portfolios even further into growth stocks including Amazon.com Inc and Microsoft Corp in the first quarter of 2020 as the COVID-19 pandemic pummeled U.S. markets, Goldman Sachs analysts said in a report.
Unemployment rates rose and total employment fell in all 50 U.S. states and the District of Columbia in April as efforts to contain the coronavirus pandemic forced businesses to close across the United States, the Labor Department said on Friday.
Investors are diversifying bets in the healthcare sector, as the rush to develop treatments for Covid-19 has driven up prices for some pharmaceutical stocks.
U.S. stock indexes dropped on Friday as Sino-U.S. tensions weighed on markets struggling to gauge the pace of economic recovery from the coronavirus.
Oil prices tumbled about 4% on Friday on rising U.S.-China tensions and doubts about how quickly fuel demand would recover from the coronavirus crisis.
General Motors Co is delaying the resumption of second shifts at truck assembly plants in Michigan, Indiana and Mexico because of a lack of parts from Mexico, a person briefed on the matter said.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
