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Market News

Location American Market News for 12 May 2020
Toyota Motor on Tuesday said it expects profit to drop 80% to its lowest in nine years, as Japan's biggest automaker grapples with the impact of the novel coronavirus which has sapped global demand for vehicles.
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Medical Journal 'The Lancet' Politicizes Coronavirus, Warns Brazil President Needs To Go This isn't the first time the British medical journal has editorialized how political crises impact health. But they sure pick interesting battles.
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Trump Moves To Ban China From Military Pension Fund, OKs Other Emerging Markets The existing pension fund is tracked to index that holds Hong Kong listed shares, however. US is specific as to what China companies they don't like.
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Even Toyota Can't Avoid the Coronavirus Pile-Up

Wall Street Journal - 12 May 2020 12:40
When the crash is global, diversification into different markets helps--but not that much.
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Urban Outfitters' P/E Multiple Is At A 3 Year Low: Is The Stock Oversold? After almost a 36% decline in Urban Outfitters' stock since the beginning of this year, we believe that Urban Outfitters' stock is likely oversold at the current price of $18 per share and it has a significant upside.The...
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Privacy Coins Monero, Zcash And Dash Face Uphill Battle In Japan Two Japanese regulators responded to questions about whether or not monero, zcash and dash might ever be welcomed back to the nation's cautious exchanges.
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Student Loan Forgiveness Included In New Stimulus Proposal $10,000 of student loan forgiveness?
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The pandemic has sunk another big corporate deal--a $9 billion sale of a reinsurance firm by the holding company of Italy's Agnelli family.
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Telegram Gives Up On Its Blockchain, Crypto Project Rest in peace GRAM coin, we hardly knew ye.
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Democrats Just Released A $3 Trillion Stimulus Wish List, Including Another Round Of $1,200 Checks The 1,800-page bill includes a laundry list of Democratic priorities, including more aid to states, hazard pay for essential workers, more money for testing and a redux of those stimulus checks, but Republicans won't be ...
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DeVos: Yes, We Are Still Garnishing Wages From 54,000 Student Loan Borrowers Wait, what?
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Stocks Turn Negative, Dow Falls 100 Points As Reopening Of The Economy Continues Investors continue to assess the risks of the U.S. returning to business.
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Farmers Swap Soybeans for Corn as Coronavirus Scrambles Demand

Wall Street Journal - 12 May 2020 19:58
Some farmers are shifting acres from corn to soybeans this year, a reversal that reflects the coronavirus pandemic's broad impact on demand for many agricultural products.
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Trump's Lawyers Say He Should Be Immune From Prosecution During Historic Supreme Court Battle Trump's tax returns and financial records from before he was president are on the line. Said Justice Kagan: "A president isn't above the law."
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The Great Reopening Gamble

Forbes - 12 May 2020 15:13
The Great Reopening Gamble "To solve the economy, we must solve the virus." Unfortunately, it's not happening. Which means we are making a massive bet against the odds.
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Saudi Aramco Keeps Record $18.75 Billion Dividend Payment Intact Despite Profits Slump State oil giant takes a massive quarterly hit in the midst of the coronavirus downturn and a short-lived price war with Russia.
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Specter of Deflation Rises Again

Wall Street Journal - 12 May 2020 18:16
Supply-chain snarls are boosting certain prices, but the big risk for the U.S. economy is deflation.
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Crowdfarming Our Way Out Of The COVID Food Crisis With recent news stories about dairy farmers dumping milk and meat processing facilities shutting down, it is starting to dawn on urbanites and their suburbanite cousins that something pretty important happens to food so...
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Bulls Eye Tech Stock Ahead Of Earnings

Forbes - 12 May 2020 17:34
Bulls Eye Tech Stock Ahead Of Earnings CyberArk's first-quarter earnings are due out ahead of the open, tomorrow
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Supreme Court Justices Grill Trump's Lawyers Over Why His Financial Records Should Be Protected Trump's tax returns and financial records from before he was president are on the line.
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Easing Oversupply Fears Lift Oil Prices

Wall Street Journal - 12 May 2020 17:12
Oil prices climbed, a sign that production cutbacks and easing pressure on storage facilities are lifting traders' hopes for battered energy markets.
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Bond ETFs Climb as the Fed Kicks Off Historic Purchase Program

Wall Street Journal - 12 May 2020 17:06
U.S. corporate bond exchange-traded funds rose after the Federal Reserve said it would begin purchases of the securities as part of its package of measures to support functioning of credit markets through the coronavirus...
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