Oil prices plunged after OPEC’s failure to strike a deal with its allies regarding production cuts caused Saudi Arabia to slash its prices as it reportedly gets set to ramp up production, leading to fears of an all-out price war. — RECOMMENDED — Stocks will crash, but don’t blame Coronavirus One Finance PhD is calling for … Read more
Last week was the worst week for stocks since the financial crisis of 2008. And though they saw a bounce on Monday, the Dow Jones (-6.4%), S&P 500 (-5%), and Nasdaq (-.02%) are all down on the year. In times like these, while the markets lose their heads over global pandemic fears, it’s important to … Read more
Standard Chartered posted a substantial rise in pre-tax profit for 2019 on Thursday, but the Asia-focused bank warned that the spread of the coronavirus would likely slow progress toward one of its key earnings targets. The company said annual pre-tax profit was up 46% at $3.7 billion for the year, although this was slightly below … Read more
Home Depot beat Wall Street’s expectations for the fourth quarter, and its CEO Craig Menear said the results indicate its significant investments in the company are paying off. Here’s what the company reported compared with what analysts expected for Home Depot’s fiscal fourth quarter, based on Refinitiv data: — RECOMMENDED — Legendary stock-picker predicts best-performing … Read more
Shares of teleconferencing software company Zoom Video rose in trading as investors looked to the stock as one of the few beneficiaries from the outbreak of coronavirus. The stock climbed more than 6% on strong demand and on Monday hit new record high levels. Zoom Video shares traded inversely to the rest of the U.S. … Read more
Markets expecting an interest rate cut are reacting to the coronavirus scare and likely will reverse once the fear starts to fade, St. Louis Fed President James Bullard said Friday. Central bank officials have indicated that they are content to keep policy on hold as they watch economic developments play out. — RECOMMENDED — Don’t … Read more
Gilead Sciences could be the best positioned biotech stock here. That’s according to Mark Newton, founder of Newton Advisors, who says the biotech company looks technically attractive as it works toward a cure for the new coronavirus. — RECOMMENDED — FREE STOCK TRADING WEBINAR Experienced Biotech stock investor, Kyle Dennis, will be showing you 3 … Read more
Don’t look now but Tesla is jumping again. — RECOMMENDED — Former Hedge Fund Manager: “Get out of Cash on this day in Feb” February 12th, 2020 could kick off the most profitable year we’ve seen in the last two decades in the stock market. But only if you put your money into a short … Read more
Tesla has been on a wild ride this week. A massive surge on Monday and Tuesday sent shares up nearly 50% over those two days, but a decline on Wednesday and pause on Thursday reduced those gains to 14% on the week. — RECOMMENDED — Former Hedge Fund Manager: “Get out of Cash on this … Read more
China on Thursday announced that it will halve tariffs on hundreds of U.S. goods worth about $75 billion. Retaliatory tariffs on some U.S. goods will be cut from 10% to 5%, and from 5% to 2.5% on others, according to a statement from China’s Ministry of Finance. The adjustments will take effect from 1:01 p.m … Read more