(Bloomberg) — Apple Inc.’s China-centric manufacturing base is at risk of disruption after the Lunar New Year holiday as the company’s partners confront the coronavirus outbreak that has gripped the country and caused more than 100 deaths.Virtually all of the world’s iPhones are made in China, primarily by Foxconn’s Hon Hai Precision Industry Co. at its so-called iPhone City in Zhengzhou and by Pegatron Corp. at an assembly site near Shanghai. Each of those locations is more than 500 kilometers away from Wuhan in central China, the epicenter of the viral outbreak, but that distance doesn’t immunize them from its …read more […]
(Bloomberg) — Asian stocks and Chinese futures slumped again on Tuesday, though contracts on U.S. equity benchmarks edged up, as investors tried to gauge the magnitude of economic damage from the coronavirus.Japanese shares headed for their worst back-to-back daily losses since last August’s trade-war worries. South Korean stocks slumped more than 3% as that market reopened after holidays, and Australia’s benchmark also underperformed. The yuan stabilized after a sharp slide Monday that left it at its weakest since December, and the yen gave up a sliver of recent gains. Treasuries also steadied, and the sell-off in crude oil moderated. But …read more […]
Asian stocks extended a global selloff on Tuesday as China took more drastic steps to combat the coronavirus, while bonds found favour on expectations central banks would need to keep stimulus flowing to offset the likely economic drag. As the death toll reached 100 and the virus spread to more than 10 countries, including France, Japan and the United States, some health experts questioned whether China can contain the epidemic. China has already extended the Lunar New Year holiday to Feb. 2 nationally, and to Feb. 9 for Shanghai. …read more […]
(Bloomberg) — It’s almost as if the last decade never happened for investors of Exxon Mobil Corp. shares.Once the gold-standard of Big Oil, the stock closed Monday at its lowest since October 2010, amid a slump in oil prices due to concerns about weak demand coupled with a glut. The S&P 500 also posted its worst one-day decline since October.But for Exxon, which dropped out of the index’s top 10 largest companies by market value for the first time last year, the malaise runs deeper than the state of the crude market.Chief Executive Officer Darren Woods is running a counter-cyclical …read more […]
(Bloomberg) — Celebrity attorney Michael Avenatti did internet research on put options and insider trading before trying to extort millions of dollars from Nike Inc., federal prosecutors told a judge.Lawyers for the government on Monday told U.S. District Judge Paul Gardephe in Manhattan that they intend to show Avenatti’s search history to jurors at a two-week trial getting underway this week, calling it evidence of the California attorney’s state of mind during the alleged crime. At the time, Avenatti was representing a youth basketball coach with claims against Nike.Gardephe barred prosecutors from mentioning the search terms in their opening statement …read more […]
(Bloomberg) — Boeing Co. has received more than $12 billion of orders for a loan that will help bolster the planemaker’s finances as it grapples with a crisis that’s left its 737 Max grounded since March, according to people familiar with the matter.The deal may be finalized as soon as Monday, said one of the people who asked not to be named because the information is private. The size of the loan is still to be determined, another person said.The loan is expected to have a margin of 100 basis points over the London interbank offered rate and a ticking …read more […]
Last year, a family member got sick. In addition to her physical ailments, her mental clarity nose-dived. I not only was worrying about her health, but also was very concerned she’d be vulnerable to fraud, as there were caregivers in her house.
But even healthy seniors fall prey to increasingly sophisticated financial abuse and fraud.
It turns out there is a physiological reason for this.
According to a UCLA study, older people have less activity in the part of the brain that is responsible for what is known as “gut feeling.” Oftentimes, it is that gut feeling that tells a person when someone …read more […]
The Wuhan coronavirus is spreading, causing Chinese officials to pull out the 2003 SARS playbook. While the number of reported cases is on the rise, Laurie Garrettt, Epidemic expert, Pulitzer Prize winning science writer and author of ‘The Coming Plague’ says there are simple measures you can take to help protect yourself on Yahoo Finance. …read more […]
As I’m sure you know, the Wuhan coronavirus is slamming the global markets.
The moment the markets opened this morning, the Dow dropped 450 points.
This sort of downside trigger catalyst came out of nowhere. Three weeks ago, you hadn’t even heard of the Wuhan coronavirus. But now it’s causing a major market sell-off.
This is typically how corrections take place. They’re unexpected. They’re sudden. And they catch everyone by surprise.
That’s exactly why I’ve been urging you here in Trade of the Day – and also in The War Room – to carry some downside protection.
On the trading floor, it’s called “cover you’re …read more […]