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Market News

Location American Market News for 6 May 2020

Chinese Bank Tries to Calm Storm Over Investors' Oil Losses

Wall Street Journal - 6 May 2020 13:29
A top Chinese bank is trying to reach a deal with investors caught out by negative oil prices, after plans to hold individuals accountable for losses greater than their original investments drew scrutiny from regulators ...
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Lyft reports its first-quarter results on Wednesday after the bell.
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Oil's 'Relief Rally' Stalls after Prices Double

Wall Street Journal - 6 May 2020 16:36
The rally raises hopes--but not confidence--that the mounting fuel glut won't overwhelm the world's capacity to store oil.
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Stocks Finish Negative After Oil Gives Up Gains Stocks were down slightly after a mixed day of trading.
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Lawmakers Are Bitterly Divided Over How To Get More Stimulus Cash To Americans For the fifth round of relief legislation, everything is on the table including monthly stimulus checks, payroll tax cuts and bailouts for states.
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Match Keeps Flame Alive in Lockdown

Wall Street Journal - 6 May 2020 20:18
Match's first-quarter results show singles don't need bars to mingle, after all.
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Office Depot Can't Coast on Pandemic Gains

Wall Street Journal - 6 May 2020 20:17
Office Depot is the latest retailer to benefit from new pandemic spending patterns, but that isn't where it should focus its future efforts.
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Bitcoin Up 4% Today As Halving Approaches

Forbes - 6 May 2020 19:55
Bitcoin Up 4% Today As Halving Approaches Bitcoin prices climbed today, bring the digital currency close to $9,300. Will the cryptocurrency experience additional gains as the halving draws closer?
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Charting A Course For Capital Markets Post-COVID-19 For years, many investment banks, wealth and asset managers have been slow to address digital disruption, shifting revenues, rising and bloated cost-levels and challenged customer service. COVID-19 will force them to do ...
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India Has Been Crippled By The Coronavirus Lockdowns India hasn't reached peak and it's economy is in total turmoil.
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How COVID-19 Will Change The Future Of Work Get ready for #2.
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Consumers stocked up on board games, not Barbie dolls, amid the coronavirus pandemic, sending Mattel's sales in the first quarter tumbling.
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Why Buffett Was Wrong To Dump Airlines

Forbes - 6 May 2020 17:46
Why Buffett Was Wrong To Dump Airlines While I agree with Buffett that the COVID-19 pandemic has been a challenge for airlines, I disagree with his decision to dump airline stocks for that reason. Few industries have escaped unscathed from the virus' impact, ...
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Two of the country's largest municipal borrowers asked investors to buy bonds this week, a key test of the $3.8 trillion market where state and local governments turn to fund themselves.
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Emergency Economic Stop Gives Car Makers Whiplash

Wall Street Journal - 6 May 2020 17:04
General Motors did much better than Ford and Fiat Chrysler, but there was no escaping the havoc caused in first-quarter results by the March collapse in vehicle sales.
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The New York Times Company said it expects advertising revenue to fall between 50-55% year-over-year in the second quarter as impacts of the pandemic are hitting demand for advertisers. But the media company, which gets ...
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Anger Towards China Grows The Longer The Coronavirus Lockdowns Last If you think people are ticked off with China and the coronavirus lockdown now, wait until next year, if Dr. Fauci is right and this makes a comeback.
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Instead Of Bailing Out The Oil Patch, Maybe Our Government Should Give Everyone Vouchers To Use At Gas Stations The oil industry had an oversupply problem before the COVID-19 pandemic. There's some thought that this is just a temporary disruption in oil markets and that demand will rise as the economy recovers, but there's no guar...
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4 "Dream Dividends" Paying Up To 10.4% Now

Forbes - 6 May 2020 16:10
4 The S&P 500 index has been "relief rallying" like crazy, but to most income investors, this means nothing.
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Treasury Department Will Relaunch A 20-Year Bond To Keep Up With Massive Deficits And Trillions In Stimulus Spending The U.S. hasn't issued 20-year bonds on a regular basis since 1986.
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Earnings Preview: What To Expect From Priceline.com's Parent On Thursday Booking Holdings is expected to report $5.62/share on $2.24 billion in revenue. Meanwhile, the so-called Whisper number is $5.83. The Whisper number is the Street's unofficial view on earnings.
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Duke, NextEra, Southern: Are Big Utilities Riskier Through This Downturn? Utility stocks, which are seen as defensive bets, are usually attractive to yield-seeking investors at times of crises, considering that their cash flows and dividends hold up relatively well. This trend might be more pr...
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