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Market News

Location American Market News for 21 April 2020

More Bad News for Oil from China

Wall Street Journal - 21 Apr 2020 13:56
The oil market is in disarray. Hopes that China can soak up excess supply as its economy recovers may be misplaced.
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Netflix Riding the Tiger

Wall Street Journal - 21 Apr 2020 23:59
Unprecedented subscriber growth comes with a dose of sobriety for stay-home trade's hottest stock.
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Chipotle responded to the Covid-19 outbreak by increasing hourly employee pay by 10% and handing out first-quarter bonuses, despite weaker sales in March.
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Snap on Tuesday announced its earnings results for the first quarter, sending its share price up as much as 20% in after-hours trading.
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How Did Stable Value Funds Respond To COVID-19 Turbulence? Stable value funds are holding up well so far.
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Valero Energy Dividend Yield Pushes Past 8%

Forbes - 21 Apr 2020 22:33
Valero Energy Dividend Yield Pushes Past 8% In trading on Tuesday, shares of Valero Energy were yielding above the 8% mark based on its quarterly dividend (annualized to $3.92), with the stock changing hands as low as $47.62 on the day.
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Negative Price Of Oil Is Telling Us That Bigger Problems Are Afoot First negative bond yields, then negative oil prices. Are they connected? What will break next?
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Netflix has ranked among analysts' favorite "stay at home" stocks as many have shifted to remote work during the coronavirus crisis.
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How COVID-19 Will Change The Financial World: Ford, The Fed, And The Bond Market The Fed has gone where the other central banks have not yet dared to go. It will now buy not just government bonds and "high quality" corporate bonds, it will also buy corporate "junk" bonds. Like Ford's.
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Short-Term Bounce Could Be In The Cards For APT Stock Alpha Pro Tech (APT) stock's 40-day moving average could help keep it afloat, if past is precedent
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AG Barr Threatens DOJ Could Take Action Against States With Strict Coronavirus Rules The attorney general warned that some state lockdowns may be infringing on civil rights.
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Bank of Mexico Cuts Interest Rates at Unscheduled Meeting

Wall Street Journal - 21 Apr 2020 20:51
The central bank's board of governors voted 5-0 to lower the overnight funding rate target to 6% from 6.5%.
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We're Open For Business?!?! What Now?

Forbes - 21 Apr 2020 20:50
We're Open For Business?!?! What Now? Companies must take compliance seriously as they look to reopen during the COVID-19 pandemic. What do they need to know?
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When Can Coronavirus Lockdowns End Without Risking A 'Second Wave' London-based Renaissance Capital thinks new cases of SARS coronavirus 2 have to fall even more.
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Consumer Lenders Enter Fog of Uncertainty

Wall Street Journal - 21 Apr 2020 19:59
Consumer lenders are preparing for something pretty bad to happen to borrowers--but perhaps not bad enough.
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Lawmakers Have Reached A Deal On Stopgap Stimulus Plan For Small Businesses, Trump Is Ready To Sign Schumer: "There's still a few more I's to dot and T's to cross, but we have a deal. And I believe we'll pass it today."
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Oil Prices Turn Negative Amid Declining Economic Activity Many experts believe the economic hit will be especially harsh as GDP in the second quarter is expected to decline between 24% and 50%.
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The Fund That Ate the Oil Market

Wall Street Journal - 21 Apr 2020 19:20
The travails of the United States Oil Fund in some ways mirror the collapse of inverse volatility note XIV two years ago.
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MSG Sports And MSG Entertainment Begin Regular Way Trading On November 7, 2019, The Madison Square Garden Company, a world leader in live sports and entertainment experiences, had announced that its board of directors has unanimously approved pursuing a revised plan for the prop...
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SEC Aggressively Suspends Trading Of 17 COVID-19 Solutions Suspected As Fraudulent COVID-19 frauds are an enforcement priority for the SEC, with unprecedented trading suspensions in securities of 17 companies for false and misleading statements about vaccines, protective devices, testing, mitigation an...
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Today's Oil Price Drop Is Bigger Than Yesterday's Negative Values Negative prices grabbed big headlines on Monday but the price plummet on Tuesday is what really matters.
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Crisis Hits 'Healthier' Tobacco Harder Than Traditional Smokes

Wall Street Journal - 21 Apr 2020 18:57
Philip Morris International scrapped its 2020 guidance and said its smokeless brands will be a drag on sales during the Covid-19 pandemic.
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