Economy

“Oil in New York Tops $40 With Demand Recovery Accelerating”

“Oil rallied as stronger consumption continued to push physical markets higher, even as many countries struggle to bring the coronavirus under control. Futures in New York traded above $40 a barrel on Friday and are up about 11% this week.… Continue Reading…

Business, Stocks

“Bankrupt Hertz to sell up to $500 million in new shares”

“Hertz Global Holdings Inc <HTZ.N> will sell up to $500 million in new shares, the car rental firm said on Monday, as it takes advantage of a strong rally in its stock since it filed for bankruptcy last month. Hertz… Continue Reading…

Economy

“New York City Reopens After Covid-19 Lockdown”

“As the nation’s largest city began reopening Monday after more than two months of lockdown, New Yorkers expressed trepidation, relief and optimism about this first step toward getting back to business….” https://www.wsj.com/articles/new-york-city-reopens-after-coronavirus-lockdown-11591628818 I got so caught up in penny stocks… Continue Reading…

Economy, Stocks

“…Nasdaq 100 sets new intraday high”

“Stocks reversed earlier losses and rose Thursday, pacing toward a fifth straight day of gains as investors looked past a new report showing new unemployment insurance claims totaled another 1.877 million last week, coming in slightly above expectations. The Nasdaq 100 rallied… Continue Reading…

Business, Economy

“A massive drop in car sales sparks new push in Congress to aid the auto industry”

“A precipitous decline in car sales amid the deadly coronavirus outbreak has caught the attention of Capitol Hill, where some lawmakers are now urging Congress to authorize new aid for the auto industry. The heightened push on Capitol Hill comes as the… Continue Reading…

Economy

“New Vehicle Sales Continue Downward Slide in April, Edmunds Forecasts”

“The car shopping experts at Edmunds say that April will be a record down month for the auto industry due to the coronavirus (COVID-19) pandemic, forecasting that 633,260 new cars and trucks will be sold in the U.S. for an estimated seasonally… Continue Reading…

Business

“Disney Enters Into New $5 Billion Credit Agreement”

“The company now has access to more than $13 billion in credit, should it be needed… In a filing Monday with the SEC, Disney said that it had signed a new 364-day revolving credit agreement with Citibank that would provide… Continue Reading…

Economy

“Markets Enter New Phase—Where Cash Is All That Matters”

“A rush for cash shook the financial system Wednesday, as companies and investors hunkered down for a prolonged economic stall, taking the recent market turmoil into a new, more troubling liquidation phase. Investors sold nearly everything they could in the… Continue Reading…

Business, Economy

“Empire State manufacturing index sees record decline to -21.5 in March”

“The numbers:The New York Fed’s Empire State business conditions index plunged a record 34.4 points to -21.5 in March, the regional Fed bank said Monday. Economists had expected a reading of 4.8, according to a survey by Econoday. This is the… Continue Reading…

Banking, Cryptocurrencies

“Visa and Coinbase team up to create crypto-backed debit card”

“…Visa today announced a debit card that will allow users to buy things using fiat money converted from cryptocurrency stored in online wallets. The new Coinbase Card it is directly tied to the a person’s cryptocurrency balance in digital wallets managed by… Continue Reading…