Written by Gary
US stocks fell today as millions of more Americans applied for jobless claims (SPY -1.2%). The Chicago Business Barometer declined 12.4 points. US ‘crafting’ retaliation against China for coronavirus handling.
Here is the current market situation from CNN Money | |
North and South American markets are mixed. The IPC is higher by 0.99%, while the Bovespa is leading the S&P 500 lower. They are down 3.09% and 1.58% respectively. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
AT&T brings ad unit Xandr under WarnerMedia ahead of HBO Max launchAT&T Inc said on Thursday it will bring its advertising unit Xandr under its WarnerMedia label, which is set to launch its streaming channel HBO Max in May. | |
Millions of Americans continue to seek jobless benefits; consumer spending slumpsMillions more Americans filed claims for unemployment benefits last week, suggesting that layoffs were spreading to industries that were not initially directly impacted by business closures and disruptions related to the novel coronavirus. | |
Equities dip but remain on pace for best month on recordWorld equity benchmarks dipped on Thursday yet remained on pace for their best month on record as a rebound in oil prices, encouraging early results from a COVID-19 treatment trial and expectations of more government stimulus helped ease the pain of February and March. | |
JPMorgan says it has handled $17.8 billion under emergency aid programJPMorgan Chase & Co said it has submitted roughly 220,000 applications worth $17.8 billion to the Small Business Administration’s Paycheck Protection Program to help small businesses hurt by the coronavirus shutdown. | |
Wall Street falls on grim jobless claims dataU.S. stocks fell on Thursday as millions of more Americans applied for jobless claims, taking the shine off a strong rally this month and eclipsing upbeat results from Facebook and Tesla. | |
Fed expands ‘Main Street’ program to firms with up to 15,000 workersThe U.S. Federal Reserve on Thursday widened a key program to nurse the “Main Street” economy through the coronavirus pandemic, agreeing to lend to even larger firms, taking on more risk in participation with banks, and hinting at some form of dedicated help for non-profits. | |
Microsoft revenue beats as remote work boosts Teams(This April 29 story corrects number of Xbox Live users in paragraph 6 to 90 million monthly active users not 19 million active users; and corrects description in paragraph 8 to say daily active Teams) | |
Twitter gains users, beats estimates but ad trends alarm investorsTwitter Inc on Thursday reported higher first-quarter revenue and a smaller loss than analysts had expected amid the coronavirus pandemic, but its shares fell as investors fretted about potential weakness in the second quarter. | |
Pringles maker Kellogg pushes product launches to second half as virus raises costsKellogg Co said on Thursday it would push product launches to the second half of 2020, as the breakfast cereal maker invests into additional warehouse space and logistics to meet higher demand brought on by coronavirus-led stockpiling. | |
Tesla Slides After Einhorn Questions “Suspect” Accounts Receivable, Income StatementTesla Slides After Einhorn Questions “Suspect” Accounts Receivable, Income Statement It was only last November that David Einhorn and Elon Musk took their longstanding disagreements over Tesla’s financial viability to Twitter, launching a public feud between the two public icons which everyone could enjoy in real-time. Now, Einhorn is back for round two. Appending a note to Elon Musk under a tweet he had first sent to the CEO back in November of 2019, Einhorn weighed in with questions about yesterday’s Tesla earnings, where he again questioned Tesla’s Accounts Receivable, incidentally the same question we highlighted in yesterday’s post discussing Tesla Q1 earnings, namely “how it is possible that the accounts receivable for the company was still a whopping $1.3 billion.” Here’s Einhorn’s version:
He continued, using Musk’s previous arguments against him:
| |
Will Airbnb’s Implosion Trigger A Housing Bust?Will Airbnb’s Implosion Trigger A Housing Bust? Authored by John Rubino via DollarCollapse.com, It seemed like such a good idea at the time. Airbnbs were the next wave in hospitality, taking market share from hotels and motels and backed by a tech network that made running a virtual bed and breakfast fun and easy. So you borrow a bunch of money, buy a couple of houses, and put them in the system. At first it works. Your properties fill up, your reviews are great, and your projected cash flow is twice what you would receive for a long-term rental. You – along with thousands of others – are thinking œreal estate empire. | |
Watch Live: Boris Johnson Says UK Has “Passed The Peak”, Lays Out Plan For Reopening Economy – Live UpdatesWatch Live: Boris Johnson Says UK Has “Passed The Peak”, Lays Out Plan For Reopening Economy – Live Updates Summary: LA becomes first US city to offer county-wide testing Lagarde warns eurozone economy could shrink up to 12% in 2020 Russia passes 100k cases Boris Johnson lays out reopening plan NYC plans to close subways between 1am and 5am for cleaning Sri Lanka reimposes lockdown measures Italy retakes mantle of second-deadliest outbreak in Europe from UK Pentagon orders another 100k body bags for “worst case” scenario US death toll tops 60k DHS acting secretary says social distancing will last for ‘months’ NYC hands out free masks Florida reports uptick in cases, deaths South Korea says ‘zero’ cases of infection stemming from April 15 election California closes parks, beaches NY reports 306 deaths, 933 new cases Total cases break above 300k Airbus reports massive loss, signals distress New data suggests 1 in 6 US nursing homes suffered COVID-19 clusters 500k coronavirus tests obtained by Maryland from SK haven’t yet been used NYT hammers Brazil’s Bolsonaro for denying outbreak UN warns about virus spreading in Syria, Yemen Eurozone GDP contracts 3.8% UK NHS allows hospitals to remove minority workers off the front lines *Â Â Â Â Â Â Â Â *Â Â Â Â Â Â Â Â * Update (1210ET): Leveraging his gift for metaphor, Johnson assured Britons that the country had moved through the peak while avoiding a worst-case scenario … | |
Top Female Democrats Calling Biden Accuser A LiarTop Female Democrats Calling Biden Accuser A Liar Two powerful Democratic women are calling Joe Biden’s sexual assault accuser a liar, in sharp contrast to the #MeToo movement’s mantra of ‘believe all women.’ | |
Reliance announces India’s biggest rights issue of Rs 53,125 crReliance announces India’s biggest rights issue of Rs 53,125 crThe issue is priced at Rs 1,257, a discount of Rs 210 or 14 per cent from the last close. | |
Indians may pawn gold to ease financial tollIndians may pawn gold to ease financial tollIndians may borrow more against their stash of gold as the world’s biggest lockdown raises financial stress . | |
Jio Q4 profit nearly triples to Rs 2.331 croreJio Q4 profit nearly triples to Rs 2.331 croreThe telco on Thursday said profit for the quarter rose to Rs 2,331 crore compared with Rs 840 crore a year ago. | |
The Ratings Game: Tesla ‘pulls rabbit out of the hat’ with surprise profit, and Wall Street applauds itT | |
Deep Dive: A strategy of buying ‘the fastest-growing businesses in America’ has paid off for this investor in 2020Gerald Sparrow screens companies for ‘pure units’ of sales to pick winners. | |
Outside the Box: How we can reopen the U.S. economy and keep workers safe without ‘Big Brother’ watching usDigital identity tools can certify people’s health and protect personal privacy. |
Earnings Summary for Today
leading Stock Positions
Current Commodity Prices
Commodities are powered by Investing.com
Current Currency Crosses
The Forex Quotes are powered by Investing.com.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated: