Trading Ideas

…read more […]

Norwegian Air has fulfilled the first condition to access a government-led rescue package for the airline industry and secured an initial cash infusion of 300 million Norwegian crowns ($26.6 million), the budget carrier said on Tuesday. Norway said on March 19 that Norwegian Air could obtain credit guarantees worth up to 3 billion crowns to help it to weather the coronavirus crisis but must first comply with a series of conditions. The condition for receiving the first 300 million crowns from the package was that commercial lenders were willing to supply 10% of that amount while the …read more […]

(Bloomberg) — U.S. and European futures climbed on Tuesday after global equities hit their lowest level since 2016, while the dollar snapped a 10-day rally and Treasuries dipped as appetite for riskier assets revived.Contracts on the S&P 500 rose over 4%, more than making up what the index lost on Monday. Benchmarks in Tokyo, Hong Kong and Sydney climbed at least 3%. Korean shares jumped almost 9% as the government announced measures to stabilize financial markets. The dollar retreated against developed and emerging currencies alike, in a tentative sign of reduced stress after the steepest appreciation since the global financial …read more […]

…read more […]

Softbank, the giant Japanese investment group that has made huge bets on the sharing economy, is looking to cut its stake in Alibaba, according to reports. And possibly in Sprint too.On Monday, Masayoshi Son, founder and CEO of the heavily indebted Softbank, said that he would raise or monetize $41 billion of assets, in order to put the group on a sounder financial footing. The company did not specify which assets are to be sold.On Tuesday, Bloomberg reported that more than a third of the total would be raised by selling a $14 billion tranche of shares in Chinese e-commerce …read more […]

SINGAPORE/MELBOURNE (Reuters) – Oil prices rose on Tuesday on hopes that the United States will reach a deal soon on a $2 trillion coronavirus aid package which could blunt the economic impact of the outbreak and in turn support oil demand. Brent crude oil futures for May delivery rose by 62 cents, or 2.3%, to $27.65 a barrel by 0346 GMT while West Texas Intermediate (WTI) crude futures gained 76 cents, or 3.3%, to $24.12. “Oil is clawing its way higher mainly on the back of the weaker dollar that stemmed from the Fed’s unprecedented measures,” said Edward …read more […]

(Bloomberg) — Gold extended a surge toward $1,600 an ounce after the Federal Reserve took unprecedented measures to protect the U.S. economy from the coronavirus shock, with Goldman Sachs Group Inc. saying bullion’s probably at an inflection point and it is time to buy.The precious metal jumped, rallying with risk assets, after the U.S. central bank said on Monday it would buy unlimited amounts of Treasury bonds and mortgage-backed securities to keep borrowing costs low. The Fed also set up programs to ensure credit flows to corporations as well as state governments.The traditional haven is seeing a resurgence after declining …read more […]

(Bloomberg) — Oil rallied for a second day after the Federal Reserve unveiled a sweeping set of measures to support the world’s largest economy, while investors clung to hopes of a U.S.-Saudi Arabian deal to limit output.Futures in New York rose around 5% past $24 a barrel, following gains on Monday as the U.S. central bank said it would buy unlimited amounts of Treasury bonds and mortgage-backed securities and also set up programs to ensure credit flows to corporations as well as state and local governments. The Fed action came as a U.S. fiscal rescue package remains stalled.Meanwhile, U.S. Energy …read more […]

(Bloomberg) — The $16 trillion U.S. mortgage market — epicenter of the last global financial crisis — is suddenly experiencing its worst turmoil in more than a decade, setting off alarms across the financial industry and prompting the Federal Reserve to intervene.Unlike last time, risky mortgages aren’t the cause. Instead, the coronavirus pandemic is threatening to make good loans go bad — and simultaneously sapping the market’s funding. There are fears that government efforts to shore up borrowers and financing won’t be enough and that mortgage and property investors again face massive losses.Measures to slow the spread of the deadly …read more […]

(Bloomberg) — Elon Musk, the billionaire chief executive officer of Tesla Inc. and SpaceX, delivered 1,000 ventilators to officials in Los Angeles to meet demand as the coronavirus pandemic becomes more severe, California Governor Gavin Newsom said.“Elon Musk: how about this? I told you a few days ago he was likely to have 1,000 ventilators this week,” Newsom told reporters in a briefing Monday. “They arrived in Los Angeles and Elon Musk is already working with the hospital association and others to get those ventilators out in real time. It’s an heroic effort.”Newsom also said six California companies have offered …read more […]

…read more […]

(Bloomberg) — The U.K. became the latest nation to put its citizens under lockdown, while President Donald Trump said the U.S. economy can’t remain slowed for too long, declaring the country “was not built to be shut down.”China’s imported infections nearly doubled, and Singapore reported its largest daily increase in cases. Deaths in Italy, the epicenter of the outbreak in Europe, slowed for a second day. Chancellor Angela Merkel’s first coronavirus test came back negative.The Federal Reserve announced a second wave of initiatives after Democrats blocked the Senate from advancing a rescue plan. An International Olympic Committee member said a …read more […]

Asian stocks rallied on Tuesday as the U.S. Federal Reserve’s sweeping pledge to spend whatever it took to stabilize the financial system eased debt market pressures, even if it could not offset the immediate economic hit of the coronavirus. While Wall Street seemed unimpressed, investors in Asia were encouraged enough to lift E-Mini futures for the S&P 500 by 1.9% and Japan’s Nikkei by 4.9%. MSCI’s broadest index of Asia-Pacific shares outside Japan added 1.2%, though that followed a drop of almost 6% on Monday. …read more […]

…read more […]

Even with Uber rides down 60% due to coronavirus, Uber’s CEO sees multiple silver linings that will help Uber weather the storm—that optimism has sent the stock higher. …read more […]