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Market News

Location American Market News for 17 April 2020

Charlie Munger: 'The Phone Is Not Ringing Off the Hook'

Wall Street Journal - 17 Apr 2020 16:00
The Berkshire Hathaway vice chairman has always preached the value of being prepared to pounce when there are bargains to be had. Has that time come?
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Six Numbers That Show How Hard The Travel Industry Is Being Hit By The Coronavirus Shutdown 8 million jobs will be lost in the U.S. alone by the end of April.
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Stocks Rally, Dow Rises 700 Points On News Of Gilead's Possible Coronavirus Treatment The S&P 500 notched its first back-to-back weekly gains since late February.
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In China's Post-Pandemic Recovery, Beware Of A 'False-Dawn' The historic contraction in China's real GDP should stand as a warning to the U.S. post-pandemic.
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Treasurys Maintain Recent Gains, Sending Note of Caution

Wall Street Journal - 17 Apr 2020 20:34
U.S. government bond yields traded at the bottom of their recent range despite another rally in stocks, underscoring the two markets' growing divide over the economic outlook.
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Don't Chase Gold Prices

Forbes - 17 Apr 2020 19:30
Don't Chase Gold Prices The gold futures and SPDR Gold Trust (GLD) have had a good run to the upside but there were signs to take partial profits this week. Where should prices find support?
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Macron Admits It: Coronavirus Biggest Test For EU Unity Yannis Varoufakis, ex-FinMin of Greece, says France, Italy, Spain should essentially hold the EU hostage until it agrees to trillion euro bond.
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Cuomo: Federal Government 'Can't Wipe Their Hands Of This,' Must Provide More Funding For States To Reopen "We cannot do it without federal help," the New York governor said.
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U.S. Exports To China Down For The Second Consecutive Year Goods exports down. Services exports may have peaked. Some states better off than others.
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It's Too Late to Pick Up P&G

Wall Street Journal - 17 Apr 2020 16:21
Procter & Gamble is cleaning up as consumers stockpile daily essentials. But the coronavirus crisis could still have worrying spillover effects for it and other makers of household goods.
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A Flood Of Saudi Oil Is Headed For The United States. Here's What That Means For Struggling American Producers. Shipments of Saudi oil to the United States have nearly quadrupled since February.
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Bleak Picture: Steep Crude Demand Plunge Dogs Energy Industry As Q1 Earnings Results Loom It came like a bolt out of the blue, a sudden gusher that spiked beaten-down crude prices nearly 25% in a single day and put Energy stocks into greener pastures for the first time in weeks.
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Risk Embrace: Rally On Drug Study And Plan To Reopen Shows Investors Ready To Get Bullish News of promising trial results for a possible coronavirus treatment seems to have investors excited this morning, along with hopes of the economy starting to re-open in phases and Boeing getting production started again...
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China Revising Wuhan Coronavirus Death Toll

Forbes - 17 Apr 2020 15:07
China Revising Wuhan Coronavirus Death Toll Wuhan city officials admit: many died at home, new hospitals were not prepared for the surge, were too busy to report accurate data.
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Here's Why Nucor's Stock Could Rebound 30% Post COVID-19 Comparing the trend in Nucor Corp (NYSE: NUE) stock over recent months with its trajectory during and after the Great Recession of 2008, we believe that the stock could potentially gain close to 30% once fears surroundin...
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Three Questions With Financial Planner Meredith Moore

Wall Street Journal - 17 Apr 2020 15:00
Getting a handle on your expenses will help minimize the damage to your finances no matter what your employment situation, she says.
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A growing number of companies has nixed earnings guidance amid the coronavirus pandemic, and some in the corporate world say they should be dropped permanently.
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Time at home imposed by the Covid-19 lockdowns would be easier without all the disruptions to global supply chains.
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30% Downside For CSX Stock?

Forbes - 17 Apr 2020 14:30
30% Downside For CSX Stock? Despite a 17% decline in CSX Corporation's stock since the beginning of the year, at the current price of around $60, CSX's stock could see a significant downside, due to the impact of the coronavirus and oil price war c...
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Here's Why Cree's Stock Could Outperform The S&P 500 Post Covid-19 Crisis Comparing the trend in Cree (NASDAQ: CREE) stock over recent months with its trajectory during and after the Great Recession of 2008, we believe that the stock can recover to its pre-crisis levels, and possibly rise furt...
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Beijing Still Wants Microchips Made in China

Wall Street Journal - 17 Apr 2020 14:09
The Covid-19 pandemic has triggered worries about the reliance of global supply chains on China. But China is concerned about its own dependence on imported supplies of microchips.
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Procter & Gamble reported that its fiscal third-quarter U.S. sales surged 10% as consumers stocked up on staples like toilet paper ahead of the coronavirus outbreak.
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