(Bloomberg) -- President Donald Trump said the “big Oil Deal” he brokered will save hundreds of thousands of American jobs. But the agreement hinges on a shale bust that could spell the end for some explorers drowning in debt, bringing a wave of bankruptcies and job losses.On Sunday, the OPEC+ group agreed to pare production by 9.7 million barrels a day, ending a devastating price war between Saudi Arabia and Russia. Trump, meanwhile, is counting on market forces to shave some 2 million barrels a day of overall U.S. output by the end of the year.U.S.-focused oil producers have already slashed more than $27 billion from drilling budgets this year and are starting to shut in production. And almost 40% of oil and natural gas producers face insolvency within the year if crude prices remain near $30 a barrel, according to a survey by the Federal Reserve Bank of Kansas City.“Trump’s...
As the market starts to recover from the coronavirus panic, Advanced Micro Devices (AMD) has seen the stock hold up well. Other companies in the tech sector continue to report solid numbers due to high demand from people working from home and a surge in demand for virtual learning. The chip giant remains well positioned for a new world demanding additional data center space.As 5-star analyst Jim Kelleher puts it, "The shelter at home movement has caused an on-the-fly effort to upgrade home networks [...] Historically, periods of severe stock-market turbulence have proven to be good times for careful and disciplined stock selection, with a focus on the highest-quality and financially strongest names. AMD has relatively outperformed peers and the market in the broad market turndown, but is still down year to-date and is well below mid-February peaks." Kelleher rates AMD shares a Buy along with a $60 price target. (To...
Cruise ship bookings for 2021 skyrocket despite the number of coronavirus outbreaks that occurred on cruises this year. Yahoo Finance’s On The Move panel shares the details....
