(Bloomberg) -- U.S. stocks slumped 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.The S&P 500 fell as much as 1% before paring the drop, led by declines in industrial, real estate and financial shares. 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...
Trucker Ahmed Issa still remembers the testy conversation between two of his former Hyndman Transport colleagues, one white and the other African-Canadian, a few years ago. ...
Shares of Micron Technology, Inc. (NASDAQ: MU) traded higher Friday after a pair of Wall Street analysts raised their price targets for the memory leader ahead of the company's earnings report later this month.Micron shares are up just 3.8% overall in the three weeks since the company significantly boosted its fiscal third-quarter revenue guidance from an old range of between $4.6 billion and $5.2 billion to a new range of between $5.2 billion and $5.4 billion. Several options traders made large bets on Friday that the upcoming earnings report could push Micron to new highs.The Micron TradesOn Friday morning, Benzinga Pro subscribers received 24 option alerts related to unusually large Micron option trades. Here are a handful of the largest: * At 9:41 a.m. ET, a trader sold 2,925 Micron put options with a $46 strike price expiring on July 17. The contracts were sold at the bid price of $1.15...
Royal Caribbean Cruises (NYSE: RCL), Carnival Cruise (NYSE: CCL) and Norwegian Cruise Line (NASDAQ: NCLH) traded sharply lower on Friday afternoon.What Happened: The Cruise Lines International Association (CLA) issued a statement announcing its ocean-going cruise line members will voluntarily extend the suspension of cruise operations from U.S. ports until Sept. 15, 2020.Cruise liners have been hit due to the coronavirus pandemic that's continuing to harm the travel industry. The current "No Sail Order" issued by the U.S. Centers for Disease Control and Prevention was expected to expire on July 24.Voluntarily Extension: "Due to the ongoing situation within the U.S. related to COVID-19, CLIA member cruise lines have decided to voluntarily extend the period of suspended passenger operations," CLA said in a statement.The extension will allow the cruise lining association to consult with the CDC on measures that will be appropriate for the eventual resumption of cruise operations.See Also: Here's How Long...
