Stock futures kicked off the overnight session TKTKTK Thursday as market participants considered mounting signals of labor market devastation amid the still-escalating coronavirus pandemic. …read more […]
Tesla Inc said on Thursday Model Y production and deliveries were significantly ahead of schedule, even as its March quarter deliveries fell short of Wall Street estimates by about 5,000 vehicles.
General Motors Co and Honda Motor Co Ltd said on Thursday they would jointly develop two new electric vehicles for Honda and are exploring more ways to expand their alliance.
U.S. President Donald Trump on Thursday invoked the Defense Production Act to aid companies building ventilators for coronavirus patients to receive the supply of materials they need.
The deadly and rapidly spreading COVID-19 outbreak has been wreaking havoc on companies around the world. Nevertheless, some companies — including online pet product retailer Chewy — have emerged as winners amid the chaos. …read more […]
Editor’s Note: Our very own Matthew Carr just launched a YouTube channel!
Each week, Matthew will share with viewers his tips and tricks on maximizing returns while minimizing risk… especially during these tumultuous times.
I’ll even tell you a secret…
His video for tomorrow features a special furry friend!
Click here to watch the first episode and SUBSCRIBE to the free channel.
– Kaitlyn Hopkins, Assistant Managing Editor
In times of chaos, there is opportunity.
And even during great upheavals – as my colleague David Fessler loves to say – “Technology marches on.”
Yes, we are living through a surreal moment.
But this new environment – this new way …read more […]
‘This surprisingly high level of bullishness supports our own view that we haven’t yet seen investor capitulation, echoing what we’ve seen in other data sets,’ writes RBC’s head of U.S. equity strategy Lori Calvasina. …read more […]
(Bloomberg) — Mortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even worse crisis: Mass foreclosures and mortgage market mayhem.Borrowers who lost income from the coronavirus — already a skyrocketing number, with a record 10 million new jobless claims — can ask to skip payments for as many as 180 days at a time on federally backed mortgages, and avoid penalties and a hit to their credit scores. But it’s not a payment holiday. Eventually, they’ll have to make it all up.As many as 30% of …read more […]
(Bloomberg) — Muddy Waters Capital’s CEO Carson Block finally bested fellow short seller Andrew Left of Citron Research when Luckin Coffee Inc. disclosed Thursday that its board is investigating reports that senior executives and employees fabricated transactions — sending its stock plunging. In late January, Block and Left engaged in a heated battle on Twitter over the Chinese coffee shop chain.Luckin shares collapsed as much as 81%, the most intraday since its IPO last May.Back on Jan. 31, Block tweeted that it had a short on Luckin after receiving what it called a “credible,” unattributed 89-page report that alleged accounting …read more […]
The electric carmaker said Model Y production started in January and deliveries began in March, significantly ahead of schedule. Tesla last month suspended production at its Fremont, California, assembly plant under pressure from local authorities to curb the spread of the virus. …read more […]
Tesla reported first quarter 2020 delivery results. …read more […]
Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.
U.S. stocks rose on Thursday as hopes for a truce in the price war between Saudi Arabia and Russia and a cut oil output drove gains, helping to offset the shocking jump in Americans filing for jobless claims due to coronavirus-led lockdowns.
The U.S. recession is here. How long it will last will depend on the course of a viral pandemic that could still kill hundreds of thousands of Americans, and has most of the country under lockdowns aimed at slowing the infection’s spread.
U.S President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how the cut would work were unclear.
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