Wall Street is experiencing some major déjà vu. The tensions between the U.S. and China flared after President Trump threatened to impose new import tariffs. The difference this time? These tariffs would serve as a punishment for China’s role in the COVID-19 pandemic. In response, stocks posted sharp declines, a rough start to the month of May.The new week of trading could see more of the same. U.S. stock pointed to losses in Monday's trading session as statements made by U.S. Secretary of State Mike Pompeo the day before failed to alleviate trade war fears. Going off of the administration’s earlier statements, Pompeo supported the President’s claim that the virus originated in a Wuhan, China laboratory, adding that the country also stocked up on medical supplies while covering up the extent of COVID-19's spread.The possibility that a trade war could be reignited has spooked market watchers, but for those looking at...
PG&E Corporation (NYSE: PCG) shares traded higher by 7% on Monday after the company reported a major jump in first-quarter earnings on Friday and detailed a plan to replace 11 of its 14 board members once it emerges from bankruptcy.The latest news was well-received by the market, and it even landed PG&E an upgrade on Monday.The PG&E Thesis UBS analyst Daniel Ford upgraded PG&E's stock from Neutral to Buy and raised his price target from $14 to $15. Ford said PG&E seems well-positioned to emerge from bankruptcy in the near future."PCG has secured most of what is required to receive plan confirmation by June 30 in order to participate in the California wildfire fund and to benefit from legislation's liability reform," Ford wrote in a note.Ford said PG&E should be able to hit its five-year target of 7% to 8% base rate growth, and the company's income growth could grow at...
(Bloomberg) -- U.S. President Donald Trump said some states “aren’t going fast enough” to reopen, even as he acknowledged that the nation’s death count would likely be higher than he had predicted. Trump accused Beijing of attempting a cover-up and promised a conclusive report on the pandemic’s origins.Scientists created a monoclonal antibody that can defeat the new coronavirus in the lab, an early but promising step. U.S. researchers will track thousands of children to determine how they’re affected by the pathogen.The worst-hit countries in Europe moved to ease curbs as cases slowed. Italy began to reopen its economy after two months, but the premier was criticized for being too cautious, and Spain started to relax its lockdown regime after weeks of confinement.Goldman Sachs and Morgan Stanley economists said there’s evidence the world economy is bottoming out. J. Crew filed for bankruptcy, and Tyson Foods warned supply disruptions would probably continue.Key DevelopmentsVirus...
Mack Trucks' sixth episode of its RoadLife 2.0 series highlights Bronco Wine Company, a family-owned, Ceres, Calif.-based winery with brands sold in more than 90 countries. ...
TD Ameritrade Chief Market Strategist JJ Kinahan joins Yahoo Finance’s On The Move to discuss what investment strategies people are utilizing amid the coronavirus pandemic....
