(Bloomberg) -- U.S. stocks fell after Arizona and Florida reported their biggest increases in new Covid-19 cases since the pandemic began and Apple said it would close some stores in those states. Oil turned positive after briefly dropping into the red.Stocks had rallied at the start of U.S. trading amid reports that China plans to accelerate purchases of American farm goods to comply with the phase one trade deal boosted risk appetite. Still, with uncertainty over how quickly economies can emerge from lockdowns, and a welter of options set to expire in a quarterly event know as quadruple witching, investors are being whipsawed by bouts of volatility.“That’s a worrisome sign for markets,”said Matt Forester, chief investment officer of BNY Mellon’s Lockwood Advisors. “This is a continuation of the first wave, this is not a second wave.”In Europe, investors focused on negotiations over the EU’s proposed 750 billion-euro ($840 billion) program to...
Saturna Capital Corporation is the investment management company of Sextant Mutual Funds. Sextant Mutual Funds recently released Q1 2020 Investor Letter, a copy of which you can download here. The Sextant Growth Fund posted a return of -15.13% for the quarter, outperforming its benchmark, the S&P 500 Index which returned -19.60% in the same quarter. […]...
(Bloomberg) -- Oil lost momentum on Friday amid signs the coronavirus pandemic is worsening in U.S. Sun Belt states.Earlier in the day, crude futures rose above $40 a barrel in New York, extending a slow rise over the last month fueled by signals of a pickup in demand. Prices then slipped to $38.40 a barrel on reports that Arizona and Florida have recorded their biggest rise in new Covid-19 cases since the pandemic began. Apple Inc. said it could close some stores in those states.Initially, oil prices were pushed up as two of the world’s biggest commodity trading houses, Vitol Group and Trafigura Group, said global oil demand is recovering at a rapid pace this month, while Saudi Energy Minister Prince Abdulaziz bin Salman also said he sees encouraging signs of a consumption recovery.Timespreads are also showing strength. Brent crude’s prompt spread is rallying after settling in backwardation -- a bullish...
Most investors don't give waste disposal stocks much attention. While it's not a glamorous sector, it's produced above-average returns over the decades. In particular, Waste Management (NYSE:WM) stock has been a huge winner.Source: rblfmr / Shutterstock.com Over the past 20 years, WM is up more than 500%. Investors would have made nearly 1,000% over the same time span if they reinvested their dividends into more Waste Management shares.The company's appeal has grown with the novel coronavirus. Investors are looking for safe haven plays that are largely insulated from economic shocks. And while trash disposal isn't entirely recession-proof, it holds up pretty well. The company's stock has bounced back quickly from the March shock as investors realized that the core business remains strong.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAs if current events weren't exciting enough, Waste Management also has a major acquisition in the works. The company is attempting...
