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Market News

Location American Market News for 17 November 2020
What The Covid Vaccine Means For Moderna Stock On Monday, Moderna (NASDAQ: MRNA) stock rallied by over 10% after the company said that its Covid-19 vaccine - which is based on messenger RNA technology - was 94.5% effective based on preliminary data. Investors have go...
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US Steel Stock Staring At A 45% Drop?

Forbes - 17 Nov 2020 12:30
US Steel Stock Staring At A 45% Drop? After rising almost 120% from its March lows of this year, at the current price of almost $11, US Steel Corp stock looks highly overvalued. US Steel stock rallied from $5 to $11 off its recent bottom, compared to the S&P...
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Retailers Grapple With New Coronavirus Surge As Sales Slow Ahead Of Holiday Season Chains like Walmart, Kroger and Costco are ramping up restrictions.
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Walmart's U.S. e-commerce sales soared by 79% in the third quarter, as customers continued to shop online during the coronavirus pandemic.
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Airbnb's Recovery May Be Worth Betting On

Wall Street Journal - 17 Nov 2020 03:12
When the coronavirus pandemic first hit, Airbnb hardly looked like a company in the right place at the right time. What a difference eight months makes.
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Berkshire Invests in Drugmakers Seeking Covid-19 Vaccine

Wall Street Journal - 17 Nov 2020 02:35
Warren Buffett's firm is betting on some of the largest companies chasing a Covid-19 vaccine, including Merck, Bristol Myers Squibb, AbbVie and Pfizer.
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Stocks Slip On Worse-Than-Expected Retail Sales Ahead Of 'Difficult Winter' To Come Walmart and Home Depot both posted better-than-expected earnings before the opening bell, but shares fell on the broader market pessimism.
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Phillips 66 Crosses Above Key Moving Average Level In trading on Tuesday, shares of Phillips 66 crossed above their 200 day moving average of $64.28, changing hands as high as $64.31 per share. Phillips 66 shares are currently trading up about 2.3% on the day.
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Aramco Raises $8 Billion Bond to Fund Dividend Pledge

Wall Street Journal - 17 Nov 2020 23:17
The financial position of the world's largest oil producer has darkened as it contends with a fall in crude prices caused by the coronavirus pandemic.
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Fed Chair Powell Says Coronavirus Surge Will Hurt Economy, Stimulus Needed Now More Than Ever Powell said that despite promising vaccine news, 'significant challenges and uncertainties' remain in the near term.
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Drug-company executives were allowed to sell stock during announcements of Covid-19 vaccine results.
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For S&P 500, Tesla Inclusion Is A Risk

Forbes - 17 Nov 2020 19:53
For S&P 500, Tesla Inclusion Is A Risk Although Tesla is large enough by market capitalization to warrant inclusion, its place on the list is a risk for the entire index.
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Amazon's Cloud Babies Keep Growing Up

Wall Street Journal - 17 Nov 2020 19:32
Airbnb and DoorDash are the latest AWS-dependent giants to go public.
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Elon Musk's Fortune Surges $6 Billion After S&P 500 Makes Tesla Its Largest-Ever Addition The electric-vehicle maker was passed up by the index giant in September, but it's now set to be the S&P's largest-ever addition.
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Why Albemarle Stock Is Up 30% This Month?

Forbes - 17 Nov 2020 15:00
Why Albemarle Stock Is Up 30% This Month? Albemarle Corporation - a chemical company that is also one of the largest players in the lithium space - has seen its stock rally by over 30% over the last two weeks, trading at levels of about $123 currently. There are...
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For Walmart's Post-Covid Outlook, No Plus Is a Minus

Wall Street Journal - 17 Nov 2020 19:06
Positive vaccine developments are allowing investors to imagine a life after the pandemic. For big-box retailers such as Walmart, the question no longer centers around how much business they can grab but how much they ca...
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Retail's Nightmare Before Christmas

Wall Street Journal - 17 Nov 2020 19:03
October's retail sales slowdown largely happened before the surge in Covid-19 cases now engulfing the country, darkening the outlook for retailers just as the holiday shopping season begins.
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What Tesla's Addition to the S&P 500 Means for Investors

Wall Street Journal - 17 Nov 2020 18:43
The electric-vehicle maker's shares soared following news that it is joining the index, increasing the volatile company's sway over financial markets.
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No, Joe Biden Can't Forgive $50,000 Of Student Loans Cancel student loans is trending on Twitter. Why?
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Top Stocks To Buy Today As Dow Cools Off After Hitting Record Close The Dow sharply dropped, cooling off from its furious rally after both Pfizer and BioNTech, and then Moderna, revealed encouraging vaccine data. For investors looking to make the most of this market, our deep learning al...
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Amazon Launches Online Pharmacy, Discount Pharma Prices Available For Prime Members Without Health Insurance The world's richest man and CEO of Amazon, Jeff Bezos, has decided to further expand Amazon's offering.
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Floating wind turbines are starting to come of age as MHI Vestas installs a 9.5MW device on a semi-submersible platform off the coast of Scotland, setting the foundations for rapid growth in markets around the world.
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