Month: June 2020

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(Bloomberg) — The grand alliance that’s helped revive global oil markets is being rattled by a long-running feud over members breaking their promises.Just a day before a proposed gathering on Thursday, the OPEC+ coalition hurriedly backtracked from the meeting intended to green-light an extension of its deepest production cutbacks and prop up crude prices.Saudi Arabia and Russia — the leading producers in the group — have lost patience with the errant behavior of the next-biggest member, Iraq, according to people familiar with the matter. While most of the main players are delivering their agreed share of output curbs, Baghdad is …read more […]

If I said to you…
Quick! Name the most innovative car company in the world…
You’d probably think for one second – and then say Tesla.
That’s clearly the one and only name that comes to mind.
But today, I’m going to throw another name into the mix… one that you may want to add to your portfolio right away.
Here’s the scoop…
If you watch Hulu, then I’m sure you’ve seen ads from a company called Carvana (NYSE: CVNA).
In my view, Carvana represents the future of how you’ll soon be buying a car.
Here’s a quick synopsis…
Think about every buying experience you’ve had in your entire …read more […]

(Bloomberg Opinion) — Hong Kong’s finance industry is thriving from the great divorce between the U.S. and China. Billion-dollar initial public offerings are on the horizon again, as New York-listed mainland companies seek a second home. The city’s blue-chip index has even revised its weighting rules so tech stocks can feature more prominently. But is this enough to rouse a sleepy stock market? While Hong Kong is on par with Shanghai in terms of total market capitalization, turnover pales in comparison, and it’s practically a stagnant pool compared with the very liquid Shenzhen bourse. While mega IPOs are exciting, they …read more […]

Not surprisingly, shares of mortgage real estate investment trusts (REITs) have been hammered in the COVID-19 crisis.
(On Monday, I explained whether you should still invest in these stocks. Click here for my analysis.)
Things were already difficult in the industry due to low interest rates.
Mortgage REITs borrow money short term and lend it out longer term. The difference in the interest that they pay and that they receive (after expenses) is net interest income.
With rates so low and the spread between short- and longer-term rates so tight, net interest income has been squeezed.
Then came the coronavirus, sending interest rates plummeting further …read more […]

Stock futures opened slightly lower Wednesday evening, pausing after a rally sent US equities to their highest level in three months. …read more […]

Elon Musk is a polarizing figure, to say the least, but the scope of his ambition cannot be denied. After Space X sent its first astronauts into space on Saturday May 30, Wedbush analyst Daniel Ives believes the star dust will rub off on Musk’s other venture, Tesla (TSLA).“While SpaceX and Tesla are separate companies despite some R&D cross pollination in some key areas, from a consumer perspective the Musk DNA remains the linchpin to both of these next generation technology stalwarts and we would characterize the historic success of SpaceX as another major shot in the arm to the …read more […]