Gains are likely to be capped and selling pressure may resume over the short-run since the 30 million bpd plunge in demand is three times the size of the OPEC+ output cuts....
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]...
The headline-grabbing takeaway from Berkshire Hathaway's (NYSE: BRK-A) shareholder meeting and first-quarter earnings report over the weekend is that Warren Buffett's conglomerate ditched its equity investments in the four major U.S. airlines.After eschewing airlines for decades, Berkshire began amassing stakes in American Airlines (NASDAQ: AAL), Delta Airlines (NYSE: DAL), Southwest Airlines (NYSE: LUV) and United Airlines Holdings (NASDAQ: UAL) in 2016, eventually becoming one of the largest investors in each of the four largest domestic carriers.While noting the U.S. has faced worse situations than the coronavirus crisis and that world's largest economy has a history of rebounding from dark times, Buffett said "the world has changed" for the airline business.See Also: 'I Was Wrong': Warren Buffett's Berkshire Hathaway Sold B Of Airline Stock In AprilWhy It's Important Although Buffett said Berkshire departed the airlines in April, confirmation that one of history's most highly regarded and widely followed investors is ditching an...
(Bloomberg) -- U.S. cases increased 2.3% in the past 24 hours, below the one-week daily average. Gilead Sciences Inc. plans to get its drug remdesivir to patients within days after getting U.S. backing for emergency use.New York’s added the fewest new deaths in more than a month. California’s fatalities rose 2% to 2,215.Fatalities slowed in the U.K. and Italy as leaders plan for easing economy-choking restrictions without sparking new infections. Spain recorded the fewest deaths in more than six weeks. South Africa’s new cases surge as lockdown is relaxed.Key DevelopmentsVirus Tracker: global cases near 3.5 million; deaths top 246,000The big get bigger in pandemic-rearranged economyAn uneven curve flattens, with Manhattan ahead of the BronxRoche antibody test gets FDA emergency-use approvalEurope’s declining virus deaths spur tensions on easing limitsBuffett says Berkshire reverses course on airlinesSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal...
(Bloomberg) -- Gilead Sciences Inc. will get its drug remdesivir to Covid-19 patients as soon as this week after getting U.S. backing for emergency use. New York’s added the fewest new deaths in more than a month.Fatalities slowed in the U.K. and Italy as leaders plan for easing economy-choking restrictions without sparking new infections. Spain recorded the fewest deaths in more than six weeks. South Africa’s new cases surge as lockdown is relaxed.U.S. Secretary of State Michael Pompeo said “enormous evidence” points to a laboratory in Wuhan, China, as the origin of the outbreak, without showing the proof.Key DevelopmentsVirus Tracker: global cases near 3.5 million; deaths top 246,000The big get bigger in pandemic-rearranged economyAn uneven curve flattens, with Manhattan ahead of the BronxRoche antibody test gets FDA emergency-use approvalEurope’s declining virus deaths spur tensions on easing limitsBuffett says Berkshire reverses course on airlinesSubscribe to a daily update on the virus from...
