Business News
U.S. construction spending unexpectedly falls in February
U.S. construction spending unexpectedly fell in February and could decline further as the coronavirus pandemic wreaks havoc on the economy.
Month: April 2020
Business News
U.S. factory activity contracts in March; orders tumble to 11-year low: ISM
U.S. manufacturing activity contracted less than expected in March, but disruptions caused by the coronavirus pandemic pushed new orders received by factories to an 11-year low, reinforcing economists’ views that the economy was in recession.
Trading Ideas
Coronavirus restrictions to continue 'for a period of months,' even as outbreak slows: Mayor of Seattle
Mandatory social distancing orders may be slowing the spread of COVID-19 in the Seattle area, home to the first coronavirus death in the U.S., but the city’s mayor, Jenny Durkan, warned against complacency, saying the Puget Sound region is still “a month or two away” from relaxing isolation rules. …read more […]
Business News
U.S. dollar gains as steep global economic slump looms
The dollar advanced on Wednesday, with markets staring at what looked likely to be one of the worst economic contractions in decades as the world confronts the coronavirus pandemic.
Business News
Equities drop as evidence mounts of deep global recession
World equity markets began the new quarter with steep losses on Wednesday as evidence mounted that the coronavirus pandemic was sending the global economy into a deep recession.
Trading Ideas
T-Mobile completes merger with Sprint
T-Mobile’s long-time Chief Executive John Legere is stepping down from his position effective immediately as part of the deal. Legere was originally set to leave at the end of April, with Mike Sievert, T-Mobile’s president, as his successor. Legere will serve on T-Mobile’s board of directors. …read more […]
Trading Ideas
The worry is that ‘coronavirus is going to conflate with the big end of the bull run’: strategist
Optimal Capital Director of Strategy Frances Newton Stacy joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to discuss how the markets are reacting to the coronavirus outbreak. …read more […]
Trading Ideas
How Does Valero Energy's (NYSE:VLO) P/E Compare To Its Industry, After The Share Price Drop?
To the annoyance of some shareholders, Valero Energy (NYSE:VLO) shares are down a considerable 33% in the last month… …read more […]
Trading Ideas
BP Won’t Cut Jobs Amid $2.5 Billion Cost-Reduction Plan
BP PLC (BP) will not cut jobs in the next three months even as the oil magnate is planning to implement a $2.5 billion cost-reduction plan by 2021 to combat the crude price plunge fueled by the coronavirus pandemic.“This may be the most brutal environment for oil and gas businesses in decades, but I am confident that we will come through it,” BP Chief Executive Officer Bernard Looney, said in a statement. “We also entered this environment in great shape with good operating momentum and financial discipline, strong liquidity and extensive optionality in our portfolio. We remain committed to growing …read more […]
Trading Ideas
Morgan Stanley: 2 Stocks to Buy (and 1 to Stay Away From)
The most recent quarter marked the worst first quarter on record for both the S&P 500 and the Dow Jones. For investors in search of a bright spot, investing firm Morgan Stanley sees plenty of compelling opportunities being presented as a result of the market’s COVID-19-driven sell-off. Morgan Stanley’s chief U.S. equity strategist Mike Wilson stated, “We like these prices a lot.” He added, “We’ve been scaling back into stocks over the last two, three or four weeks…We think this is probably the best risk-reward we’ve seen for investors in two years.”Heeding Wilson’s advice, we used TipRanks’ database to take …read more […]
Trading Ideas
What Is Trade Desk's (NASDAQ:TTD) P/E Ratio After Its Share Price Tanked?
To the annoyance of some shareholders, Trade Desk (NASDAQ:TTD) shares are down a considerable 33% in the last month… …read more […]
Trading Ideas
Whiting files for Chapter 11 bankruptcy as oil prices hover at $20
Oil and gas producers have been scrambling to restructure their debt as the economic fallout of the coronavirus pandemic and an oil price war between Russia and Saudi Arabia have led to a 50% drop in crude prices since the beginning of March. …read more […]
Business News
U.S. private payrolls post first decline since 2017
U.S. private payrolls dropped in March for the first time since 2017, likely as businesses shut down in compliance with strict measures by authorities to contain the coronavirus pandemic, supporting economists’ views that the longest employment boom in history ended last month.
Business News
EU proposes short-time work scheme to avoid coronavirus lay-offs
The European Commision proposed a short-time work scheme on Wednesday modelled on Germany’s Kurzarbeit programme to help people keep their jobs as the coronavirus pandemic hits economies across the 27-nation bloc.
Business News
Futures tumble in start to second quarter as coronavirus crisis worsens
U.S. stock index futures sank on Wednesday, as stark predictions of a rise in the U.S. death toll and worsening economic damage from the coronavirus pandemic led investors to ditch equities for safe-haven assets.