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Market News

Location American Market News for 18 March 2020

Turmoil in Funding Markets Drags Down Mortgage REITs

Wall Street Journal - 18 Mar 2020 22:33
Shares of mortgage real-estate investment trusts declined sharply, reflecting growing concerns about firms that use borrowed money to juice returns at a time when funding markets are in turmoil.
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After 30% Drop In A Month, Can Union Pacific Recover? Going by trends seen during the 2008 crisis, Union Pacific could potentially outperform the broader market, when the current crisis is over. We compare the performance of Union Pacific vis- -vis the S&P 500 in our intera...
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Coronavirus Layoffs: Marriott, Laura Ashley Join List Of Companies Shedding Jobs Due To The Pandemic Airline and hotel workers, cabinetmakers, booksellers, ferry operators and travel agents have been impacted so far.
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U.S. Futures Fall; Asian Markets Mixed

Wall Street Journal - 18 Mar 2020 04:25
Global markets diverged as governments around the world scrambled to slow the spread of the novel coronavirus and to support individuals and businesses.
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NYSE to Close Trading Floor to Slow Coronavirus

Wall Street Journal - 18 Mar 2020 23:56
The New York Stock Exchange will close its famed trading floor in lower Manhattan effective Monday, calling the move a precautionary measure against the spread of coronavirus.
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Five Cities Where Jobs Will Be Hit Hardest By Coronavirus The oil and gas and hospitality industries are among the most vulnerable.
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Blue Apron Shares Up 600% This Week, But How Long Can The Meal Kit Company Soar? As the coronavirus outbreak has sent consumers into panic- buying mode and hunkering down at home, money-losing meal-kit company Blue Apron is suddenly getting plenty of love: Its stock more than doubles Wednesday, exten...
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NYSE To Close Trading Floor After Trader Reportedly Tests Positive For Coronavirus The exchange will move to fully electronic trading.
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The Dow Closed Less Than 1% Above Trump's First Day In Office The stock markets have been in free fall for just over a month. During another brutal day at the low point, the Dow was 4% below when President Trump took office. Only a very late day rally kept it above that watermark.
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Investors are anticipating the needs of the stay-at-home consumer.
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Mack Cali Realty Passes Through 5% Yield Mark In trading on Wednesday, shares of Mack Cali Realty were yielding above the 5% mark based on its quarterly dividend (annualized to $0.8), with the stock changing hands as low as $15.66 on the day.
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Stocks Lose Nearly All Gains Under Trump Presidency As Market Falls Another 6% The stock market is now almost lower than it was when Trump took office.
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The Billionaire Interview That Tanked The Stock Market Bill Ackman panicked about the coronavirus early on, hedging his $5.6 billion investment firm. Then he went on CNBC to tell America "there is a tsunami coming," and tanked the stock market.
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Oil Plummets 24% As Saudi Arabia Doubles Down On Price War With Russia It was oil's third worst day on record.
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Norfolk Southern Down 33% Vs. 22% For S&P. Will It Continue To Underperform? Norfolk Southern has underperformed the broader markets through the current coronavirus and oil price war crisis, with the stock currently down by about 33% since early February, after the WHO declared a global health em...
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Complete Blood Count Testers Say Their Products Can Monitor COVID-19 Patients Safely COVID-19 patients get blood tests to monitor their health. How safe are the workers who do the tests? It depends on which blood testing machine they use.
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Bridgewater Associates Performance Hit by Coronavirus

Wall Street Journal - 18 Mar 2020 19:50
The world's largest hedge-fund firm took a big hit to its funds as it got caught out by the market impact of the coronavirus.
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Ride-Sharing Gets Locked Down by Coronavirus

Wall Street Journal - 18 Mar 2020 19:40
Coronavirus restrictions will cost Uber and Lyft and likely sideline their road to profitability.
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Ukraine's Broken Government Scares Off Investors The Trump impeachment centered on U.S. corrupt companies in Ukraine. A new president was hired to clean it up. How's he doing?
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Stocks Plunge 7%, Triggering Trading Halt, As Coronavirus Causes Unprecedented Volatility On Wall Street Stocks were down again on Wednesday, erasing the previous session's gains as investors grappled with ongoing uncertainty from the coronavirus.
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The window briefly cracked open for blue-chip companies to raise cash by selling bonds on Tuesday. But by Wednesday morning, the window had shut again.
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Mnuchin Walks Back Comments About 20% Unemployment: 'We're Not Going To Let That Happen' "We will get through this," the Treasury Secretary said. "The U.S. economy is going to come roaring back."
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