Wall Street fell at the open on Monday as energy shares took a hit from a crash in oil prices, with investors bracing for a week packed with earnings reports and economic data that could provide more evidence of the damage wrought by the coronavirus. Read More
Wall St falls as crude slump hammers energy stocks — Financial Post
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Burger Chain Returning Fed Loan
The burger chain Shake Shack is returning the $10 million loan from the Fed. The loan was intended to assist small businesses in the country suffering from the near nationwide shutdown. Shake Shack is a $1.7 billion company.
Shake Shack Inc will return the small business loan it received from the U.S. government, the burger chain’s chief executive said on Monday, making it the first major firm to hand back money aimed at helping small businesses ride out the coronavirus impact.
https://www.cnbc.com/2020/04/20/burger-chain-shake-shack-to-return-10-million-government-loan.html
Apple has a $399 iPhone SE for the budget-conscious as coronavirus stalls economy — Financial Post
Apple Inc on Wednesday released a smaller iPhone priced at $399, cutting the starting price for the company’s smartphone line in a move to broaden its appeal to budget-conscious customers as the coronavirus hobbles the global economy. Read More
Apple has a $399 iPhone SE for the budget-conscious as coronavirus stalls economy — Financial Post
April Beige Book
Today the Federal Reserve published the April Beige Book. The Beige Book is a Federal Reserve System publication about the current economic conditions are the 12 Federal Reserve districts. Each district summarizes the market situations of each district based on qualitative information obtained for the sources available in that district.
As everyone would image the general news is not good. The COVID-19 pandemic has affected every sector of the economy, mostly in a negative manner. All of the districts reported a slowdown of activity. In the Chicago district “Economic activity declined, but the intensity of decline varied by industry. Consumer spending decreased sharply; business spending, construction and real estate activity, and manufacturing production decreased moderately. Retail and hospitality payrolls plunged. Wages edged up and prices were little changed. Financial conditions deteriorated substantially, as did prospects for agricultural income.”
European Stocks Halt Five-Day Rally With Focus on Earnings — Financial Post
(Bloomberg) — European stocks slumped the most in almost three weeks, ending their longest rally since November, led by declines in oil & gas and banking shares. Read More
European Stocks Halt Five-Day Rally With Focus on Earnings — Financial Post
Brazil government, banks in talks about bailing out companies — Financial Post
BRASILIA/SAO PAULO — Brazil’s Economy Ministry is talking with banks about providing bailouts to sectors such as airlines, automakers, power companies and large retailers to help them survive the coronavirus crisis, chief executives of Banco Bradesco SA and Banco Santander Brasil SA confirmed on Wednesday in live presentations. Read More
Brazil government, banks in talks about bailing out companies — Financial Post
Stocks, crude plunge on economic data, oil oversupply — Financial Post
NEW YORK — A double whammy of economic data showing the U.S. economy in a deep downturn and reports of persistent crude oil oversupply and collapsing demand slammed global markets on Wednesday as vivid reminders of the damage from coronavirus-related lockdowns. Read More
Stocks, crude plunge on economic data, oil oversupply — Financial Post
Where To Get Your Refund
A quick note on the tax payment. Below is the link if you need information to the IRS.
The New Normal, is Weird.
The new normal in the COVID-19 has changed not only how we shop, but what we shop for. As we all stay in as much as possible, a few things become clear is society begins to adopt to the new norm. Here are a few ideas consumers are buying new. Time to adjust your portfolio?
Toilet paper and paper towels are so two months ago.
Now that more Americans have adjusted to what will likely be their new normal for the foreseeable future, they’re looking for ways to entertain themselves, stay fit, cook more and grow their own produce at home. There’s been a surprising surge in some products.
Stocks Set for Mixed Trading; Crude Oil Swings: Markets Wrap — Financial Post
(Bloomberg) — Stocks looked set to for a mixed start to the week as investors mulled a slowdown in new coronavirus cases and readied for the start of earnings season. Oil futures swung after a historic deal to cut output. Read More
Stocks Set for Mixed Trading; Crude Oil Swings: Markets Wrap — Financial Post
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