(Bloomberg) -- Oil rebounded from a weekly loss as better-than-estimated economic data countered fears that Covid-19’s resurgence will crimp fuel demand.Futures in New York and London closed higher after declining for two out of the last three weeks. Prices followed equities higher as U.S. pending home sales posted a record gain, signaling that America’s economic recovery is underway. Yet the outlook remains uncertain.“The economic data continues to improve,” said John Kilduff, a partner at Again Capital. The release of China manufacturing data Tuesday, as well as the potential for increased travel during the U.S. July 4 holiday, could turn the next few days into “a make-or-break-it week for oil prices.”Still, the overall market picture is bearish. Crude stockpiles in the U.S. are at record highs, worldwide consumption remains a long way off pre-virus levels and many refiners are struggling with low margins. In another indication that supplies are plentiful, WTI and...
(Bloomberg) -- Boeing Co. and the U.S. Federal Aviation Administration began a series of long-awaited flights to test whether the revamped 737 Max is safe following two deadly crashes, and investors cheered the rare good news for a planemaker mired in crisis.A Max 7 flight-test aircraft took off from Boeing Field at about 9:55 a.m. local time Monday, with an FAA pilot sharing the controls with a crew member from the company. Flight enthusiasts around the world followed in real time as the aircraft flew over central Washington, the maneuvers included stalls, based on airspeed and altitude data on FlightRadar24.The so-called certification flight is a milestone toward ending a grounding imposed worldwide in March 2019 after the two crashes of Boeing’s best-selling model killed 346 people. The FAA plans to put the jet, bristling with monitoring equipment, through a rigorous examination, said a person familiar with the matter, who wasn’t authorized...
The Fed on Monday fired up its facility to directly purchase corporate bonds from the companies themselves, rounding out its ambitious bond-buying program....
New York University's Stern School of Business Professor of Economics & Roubini Macro Associates, LLC CEO Nouriel Roubini joins Yahoo Finance's Julia La Roche to break down his economic outlook amid the coronavirus pandemic....
(Bloomberg) -- Tesla Inc.’s stock price climbed back above $1,000 after a report said Chief Executive Officer Elon Musk sees a possibility the electric-car maker will avoid a second-quarter loss.“Breaking even is looking super tight,” Musk wrote in an email to employees obtained by the blog Electrek. “Really makes a difference for every car you build and deliver. Please go all out to ensure victory!”Tesla shares surged 5.2% on Monday to close at $1,009.35. The stock has soared 141% this year, putting its market capitalization on course to rival Toyota Motor Corp., the most valuable automaker in the world by that measure.Musk, 49, has routinely sent emails to rally the troops at the end of a quarter or year, and Tesla hasn’t always lived up to the expectations set by his internal memos. The company reported a record 97,000 deliveries for the three months that ended in September, though that fell...
The rallying cry has become a familiar theme in recent quarters at Tesla, with Musk calling on employees to quickly build and deliver vehicles at the end of the quarter to achieve specific targets. Tesla shares rose 5.2% to close at $1,009.35 on the Nasdaq on Monday. Tesla in April surprised investors when it said production and delivery of its new sport utility vehicle, Model Y, was significantly ahead of schedule despite the virus outbreak....
AlphaOmega Advisors, LLC Founder Peter Cecchini joins Yahoo Finance's Julia La Roche to discuss his outlook on the markets, as coronavirus cases top 2.5 million in the U.S....
