Trading Ideas
Month: May 2020
Trading Ideas
Business News
U.S. post office loss doubles as it warns COVID-19 will hit its finances
The U.S. Postal Service on Friday said it lost $4.5 billion in the quarter ending in March, more than double its loss over the same period last year, and warned COVID-19 could severely hurt its finances over the next 18 months.
Trading Ideas
Travel expert: Americans will fall in love with the road again as coronavirus pandemic eases
While air travel remains very low in the absence of widespread testing or a vaccine, CBS News Travel Editor Peter Greenberg thinks that Americans will eventually fall back in love with road trips. …read more […]
Trading Ideas
Business News
Microsoft to invest $1.5 billion in Italian cloud business
Microsoft Corp. said on Friday it would create its first datacentre region in Italy under a $1.5 billion investment plan as the U.S. company expands its cloud computing services to more locations across the world.
Business News
Wall Street rises on better-than-feared jobs report, easing Sino-U.S. tension
U.S. stock markets gained on Friday after data showed the economy lost fewer jobs in April than feared due to the coronavirus crisis, adding to optimism from an easing in friction between Washington and Beijing.
Trading Ideas
‘The market will take 2 years to return to where it was in Q1 2020’: Expert
In April, the U.S. economy shed 20.5 million jobs, while unemployment spiked to 14.7%. Investors, however, are optimistic that the market will recover from this, eventually. Yahoo Finance’s Alexis Christoforous and Brian Sozzi discuss with David Bailin, CIO at Citi Private Bank. …read more […]
Trading Ideas
Exclusive: J.C. Penney to file for bankruptcy as soon as next week – sources
A bankruptcy filing would cap a long decline for the iconic 118-year-old department store chain, which has struggled with a nearly $4 billion debt load and competition from e-commerce firms and discount brick-and-mortar retailers even before the pandemic’s onset. The Plano, Texas-based company, which employs nearly 85,000 people, is in discussions with creditors for a so-called debtor-in-possession loan to bolster its finances while it navigates bankruptcy proceedings, the sources said. The timing of a bankruptcy filing could slip depending on how much time it gets from creditors, the sources said. …read more […]
Business News
Exclusive: J.C. Penney to file for bankruptcy as soon as next week, sources say
J.C. Penney Co Inc is preparing to file for bankruptcy protection as soon as next week with plans to permanently close about a quarter of its roughly 850 stores, becoming the latest major U.S. retailer to succumb to fallout from the coronavirus outbreak, according to people familiar with the matter.
Trading Ideas
5 reasons why you shouldn't freak out about 20.5M job losses
Even with economic activity coming to a standstill and layoffs surging, there are pockets of the economy that have shown signs of a nascent recovery. …read more […]
Business News
U.S. labor market shatters post World War 2 records as coronavirus lockdowns bite
The U.S. economy lost a staggering 20.5 million jobs in April, the steepest plunge in payrolls since the Great Depression and the starkest sign yet of how the novel coronavirus pandemic is battering the world’s biggest economy.
Trading Ideas
Markets move higher, it’s ‘totally fixated on getting back to business as usual’
U.S. markets are rallying on Friday, despite the U.S. Bureau of Labor Statistics reporting 20.5 million jobs lost in the month of April. Amanda Agati, PNC Chief Investment Strategist, joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to discuss. …read more […]
Business News
Explainer: Why 14.7% unemployment rate doesn’t capture the true state of the coronavirus economy
The U.S. economy shed 20.5 million jobs in April, and the unemployment rate rose to 14.7%, a government report Friday showed.
Trading Ideas
The ‘silver lining’ of the April jobs report, according to Deutsche Bank Chief U.S. economist
In the month of April, the U.S. economy lost a record 20.5 million payrolls and the unemployment rate jumped to 14.7%. Yahoo Finance’s Alexis Christoforous and Brian Sozzi break down the report with Matthew Luzzetti, Deutsche Bank Chief U.S. Economist. …read more […]