(Bloomberg) -- OPEC+ is set to extend production cuts to prop up the oil market after a breakthrough in high-stakes negotiations, with the alliance meeting on Saturday to sign off on the deal.After almost a week of wrangling, OPEC+ leaders Russia and Saudi Arabia clinched a tentative deal with holdout member Iraq, according to a delegate. The pair were pushing Iraq to stop shirking its share of cuts and to compensate for failure to comply with cuts in the past. OPEC will meet on Saturday at 1 p.m. London time, followed by an OPEC+ meeting two hours later, delegates said.The agreement -- though still to be ratified -- means OPEC+ will extend its record production curbs for another month until the end of July. Brent crude, the global benchmark, rose above $40 a barrel.The 23-nation partnership between the Organization of Petroleum Exporting Countries and other major producers has helped engineer a...
(Bloomberg) -- OPEC+ is set to extend production cuts to prop up the oil market after a breakthrough in high-stakes negotiations, with the alliance to hold discussions on Saturday to formally sign off on the deal.After almost a week of wrangling, OPEC+ leaders Russia and Saudi Arabia clinched a tentative deal with holdout member Iraq, according to a delegate. The pair were pushing Iraq to stop shirking its share of cuts and even to compensate for failure to comply with cuts in the past. OPEC is set to start its meeting Saturday at 2pm CET, followed by the OPEC+ meeting at 4pm CET, delegates said.The agreement -- though still to be ratified -- means OPEC+ will extend its record production curbs for another month until the end of July. Brent crude, the global benchmark, edged higher and rose above $40 a barrel.The 23-nation partnership between the Organization of Petroleum Exporting Countries...
[Editor's Note: "Stay on the Sidelines While Delta (DAL) Stock Is Up in the Air" was originally published April 13, 2020. It is regularly updated to include the most relevant information.]Source: Markus Mainka / Shutterstock.com With investors jumping back into airlines, what's next for Delta Air Lines (NYSE:DAL)? The legacy carrier's shares have rallied 70% off their lows set in mid-May. While the novel coronavirus continues to impact air travel, Wall Street is betting on a swift recovery in DAL stock.However, many things remain uncertain. On one hand, air travel is slowly rebounding from its extreme lows in weeks prior. On the other hand, even if the novel coronavirus quickly fades away, it could be years until a rebound happens, as some industry leaders have predicted.InvestorPlace - Stock Market News, Stock Advice & Trading TipsYet, while airline stocks remain risky, Delta may be a cautious way to bet on a V-shaped...
Spot gold was down 0.2% at $1,708.07 per ounce as of 0700 GMT, while U.S. gold futures slid 0.9% to $1,711.80. "Gold prices have been under pressure after a miraculous stock market run," said Edward Moya, senior market analyst at broker OANDA. Investors are now awaiting U.S. nonfarm payrolls data for May due at 1230 GMT....
Spot gold was down 0.2% at $1,706.91 per ounce as of 0324 GMT. U.S. gold futures slid 0.7% to $1,714.50. "Gold prices have been under pressure after a miraculous stock market run that seems to be showing some signs of plateauing," said Edward Moya, a senior market analyst at broker OANDA....
[Editor's Note: "Sell Moderna (MRNA) Stock as Covid-19 Catalyst Inflates Valuation" was originally published April 2, 2020. It is regularly updated to include the most relevant information.]Source: Shutterstock Is the party over for Moderna (NASDAQ:MRNA)? MRNA stock soared in May as the company's novel coronavirus prospects looked bright. But now, with investors selling off vaccine plays, the days of this being a "hot stock" may be coming to an end.Granted, this doesn't mean "game over" for their prospective mRNA-1273 vaccine. Already entering phase 2 clinical trials, they could have a vaccine available for use by the end of the year.InvestorPlace - Stock Market News, Stock Advice & Trading TipsPerceived "first mover advantage" is one thing Moderna has going for it. Another is social proof, courtesy of the U.S. government. With a former exec leading the White House's vaccine efforts, it seems Moderna has yet another edge.Yet, as investors have either cashed...
(Bloomberg) -- Oil was headed for a sixth weekly gain after OPEC+ reached a tentative agreement to extend record production cuts until the end of July.Futures in New York were steady near $37 a barrel on Friday and are up around 6% this week. After almost a week of wrangling, Saudi Arabia and Russia clinched a deal with holdout Iraq and the cartel could meet as soon as this weekend to ratify it, according to a delegate. The pair were pushing Baghdad to stop shirking its share of cuts and to compensate for past non-compliance.In another potentially bullish driver for oil prices, analysts have been poring over U.S. inventory numbers that don’t add up. While it’s unclear where the discrepancy lies, data sets including stockpiles, output, imports and exports are signaling that official figures on at least some supplies are excessive.While oil has recovered rapidly from its plunge below zero in...
