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Market News

Location American Market News for 25 June 2020

Hand Sanitizer's Clean Image Gets Soiled

Wall Street Journal - 25 Jun 2020 15:42
Exercise caution; otherwise hand sanitizer can do more harm than good.
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New Surge In Coronavirus Cases Raises Investor Concern About Economy Reopening This morning marks a continuation of investor worries about the economic reopening as coronavirus cases surge in some states.
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Deserted Resorts & Casinos: Does MGM Have Enough Cash To Survive? The hospitality industry is one of the hardest hit, with demand falling more than 90%. Deserted casinos and resorts aren't an uncommon sight right now. With the stock falling over 40% this year (as of June 24th), MGM Res...
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Albertsons Prices IPO Below Expectations in Downsized Deal

Wall Street Journal - 25 Jun 2020 23:57
Albertsons priced its initial public offering below expectations and its existing shareholders sold fewer shares than planned, marking a stumble for the IPO market after it had been revived by a string of strong offering...
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Wells Fargo Gets Dinged, but Others Might Follow

Wall Street Journal - 25 Jun 2020 23:44
The Federal Reserve largely gave a pass to the biggest U.S. banks while still finding a way to subtly single out Wells Fargo. Bank shareholders still shouldn't assume their dividends are assured for much longer.
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Airline Industry Turbulance Continues Amid Coronavirus Pandemic: What Does The Future Hold? The coronavirus has dealt a serious blow to the airline industry.
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Federal Reserve Places New Restrictions On Banks, Freezing Stock Buybacks And Limiting Payouts The Fed is cracking down on big banks in an effort to protect the economy during the coronavirus recession.
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BlackRock Cuts Fees for Its Largest ETF to Match Vanguard

Wall Street Journal - 25 Jun 2020 23:00
The investment giant disclosed that it lowered the price investors pay for an exchange-traded fund that tracks the S&P 500 to $3 on every $10,000 invested, from $4.
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In its annual stress test, the Fed said the nation's biggest banks are healthy but could suffer 2008-style losses if the economy languishes. It ordered them to cap dividends and halt buybacks to guard against soured loan...
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Let's Hope I'm Too Pessimistic

Forbes - 25 Jun 2020 21:44
Let's Hope I'm Too Pessimistic When will we see normalized growth for our country? Trick question. The answer is you never see normalized annual GDP growth of 3%. It's always more or a lot less than 3%. Economists, actually nobody, ever gets it right.
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As part of an extraordinary effort by the Government to nurse us through the pandemic, the IRS has further relaxed rules on Required Minimum Distributions (RMD) for IRAs, 401(k)s or any other defined contribution plan.
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Exchanges Get Discretion to Police Technology Glitches

Wall Street Journal - 25 Jun 2020 20:48
Futures exchanges would be expected to create defenses against disruptive technology failures, but might not have to upgrade current policies under a proposal issued by the Commodity Futures Trading Commission.
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George Floyd, Robert E. Lee, BLM Global - And The Economics Of Diversity The George Floyd tragedy has resonated around the world -- it has become a cultural/ideological "export" -- which draws its power in part from the economic advantages that come with the elimination of discriminatory barr...
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The Small Canadian Province That Could Lead The Future Of Energy Will a small Canadian province lead the energy revolution of the 21st century with small modular nuclear reactors?
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Here's An Argument That Stocks Should Be Even Higher

Wall Street Journal - 25 Jun 2020 19:24
Valuations are already the highest since the dot-com bubble, but with zero interest rates locked in and Treasury yields on the floor, financial models could support much higher valuations for the safest stocks.
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The Trump Administration Sent $1.4 Billion In Stimulus Checks To Dead People Trump is already eyeing a second round of checks to boost his popularity before the November election, but some Republicans aren't on board.
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NYSE Set to Host Albertsons IPO With Coronavirus Restrictions

Wall Street Journal - 25 Jun 2020 19:21
The New York Stock Exchange is looking to show it's back in business as it hosts the initial public offering of Albertsons Cos., the first major IPO since its famed trading floor reopened.
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How Serious Are These Covid-19 Spikes For The Market? The Coronavirus Pandemic Panic Index shows people are less worried about Covid-19 deaths than they are about the virus itself.
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Top Stocks To Buy Today As Markets Continue To Pull Back With jobless claims exceeding estimates and regulators relaxing banking restrictions, the markets are gyrating between gains and losses. Amidst this uncertainty, our deep learning algorithms have parsed through the data ...
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Virus Surge, Jobs Report Fuel Government-Bond Buying

Wall Street Journal - 25 Jun 2020 18:48
Fears about a second wave of coronavirus cases prompted investors to seek safety in Treasurys and to sell bonds of companies in industries most impacted by economic shutdowns.
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Post the account turning inoperative (the next month of her leaving the employment), the interest accrued to the account becomes taxable on an accrual basis and is to be shown as income from other sources at the time of ...
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Home-Cooking Trend Is Mixed Bag for Spice Giant

Wall Street Journal - 25 Jun 2020 18:31
Consumers have been stocking up on McCormick's spices, dry baking mixes and other pantry staples. Its restaurant customers are another story.
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