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Economy

“US GDP shrank 4.8% in the first quarter amid biggest contraction since the financial crisis”

“Gross domestic product fell 4.8% in the first quarter, according to government numbers released Wednesday that provide the first detailed glimpse into the deep damage the coronavirus wreaked on the U.S. economy. Economist surveyed by Dow Jones had expected the… Continue Reading…

Business

“Ford shares fall on first-quarter revenue warning”

“Ford Motor shares dropped about 5% after the automaker warned that the coronavirus has significantly impacted its first-quarter performance, including a 15.7% drop in revenue…” https://www.cnbc.com/2020/04/13/ford-shares-fall-on-first-quarter-revenue-warning.html

Stocks

“The Dow just booked the worst 1st quarter in 124 years…”

“Indeed, it has been punishing for investors, as the market went into a coronavirus-sparked free fall that has the 124-year-old Dow Jones Industrial Average registering its worst quarterly loss since the fourth quarter of 1987. The three-month skid represented the… Continue Reading…

Economy

“Pandemic-Related Unemployment and Shutdowns Are a Recipe for Social Unrest”

“Around the world, high unemployment and stagnant economic activity tend to lead to social unrest, including demonstrations, strikes, and other forms of potentially violent disruptions. That’s a huge concern as forecasters expect the U.S. unemployment rate in the months to… Continue Reading…

Business

“Coca-Cola Stock Hits All-Time High After Strong Quarter”

“Dow component The Coca-Cola Company (KO) posted an all-time high above $59 on Friday, one day after the beverage giant filed a solid fourth quarter 2019 report that exceeded conservative revenue estimates. Revenue grew an impressive 28.2% year over year,… Continue Reading…

Business

“Apple delivers best-ever quarter, powered by iPhones, services”

“Apple on Tuesday posted record results for the final three months of last year delivered by gains in iPhone sales even as the company transitions to digital services and wearables… Net profit hit an all-time high of $22 billion on… Continue Reading…

Stocks

“Shares of Victoria’s Secret parent L Brands jump on fourth-quarter forecast, in-line profits”

“L Brands shares, which closed near a 10-year low, rose nearly 4% during extended trading. The stock, which has a market value of $4.4 billion, hit a 52-week low of $15.80 earlier Wednesday… The company said it expects 2019 fourth-quarter… Continue Reading…

Economy

“US GDP rose a better-than-expected 1.9% in the third quarter as consumers continued to spend”

“U.S. gross domestic product — the broadest measure of the U.S. economy — grew faster than expected in the third quarter, but slowed slightly as business investment continued to decline. The Commerce Department said Wednesday that economic activity grew at… Continue Reading…

Economy

“Second-quarter U.S. GDP left at 2%…”

“The U.S. economy grew more slowly in the second quarter, updated figures confirm, and is slow growth is expected to persist through the end of the year largely because of the festering trade fight with China. Gross domestic product, the… Continue Reading…

Banking, Economy

“Fed Cuts Interest Rates by Another Quarter Point”

“The Federal Reserve lowered interest rates by a quarter of a percentage point on Wednesday, its second cut since late July, and suggested it was prepared to move aggressively if the United States economy showed additional signs of weakening. For… Continue Reading…