(Bloomberg) -- The U.S. became the world’s deadliest coronavirus hotspot, surpassing Italy. New York City’s mayor closed schools in the nation’s biggest system for the rest of the academic year, a decision challenged by the state’s governor.Spain and Germany reported the fewest new deaths in more than a week. Franc reported a drop in fatalities for second day in a row. Italy had the highest number of new cases in a week.U.S. governors sought $500 billion in federal aid to offset the economic hit from social-distancing measures.Key DevelopmentsCoronavirus Tracker: Global cases exceed 1.7 million; deaths top 106,000U.K. reports 917 new deaths, total rises to 9,875U.S. senator supports immunity registryEU backs Sweden, Belgium on aviation aidArticle indicates progress toward vaccineApple, Google plan contact-tracing phone appCuomo, de Blasio at Odds Over Schools (1:15 p.m. NY)New York Governor Andrew Cuomo said there hasn’t been a decision on whether to close New York City schools...
* Benzinga has examined the prospects for many investor favorite stocks over the past week. * Bullish calls included the iPhone maker and the leading electric vehicle maker. * Bearish calls included entertainment, financial and pharmaceutical giants.The economic and social fallout from the coronavirus pandemic continued to overshadow nearly everything last week. Yet, the stock market saw its best week in decades, with the main U.S. indexes rising 10% or more. The week also saw progress on settling the oil price war, further record unemployment claims and the final presidential contenders are all but set now.As usual, Benzinga continues to examine the prospects for many of the stocks most popular with investors. Here are some of this past week's most bullish and bearish posts that are worth another look.Bulls In "2 Companies Well Positioned To Weather The Coronavirus Storm," Howie Bick shares why Apple Inc. (NASDAQ: AAPL) will be one of...
(Bloomberg) -- As Mexico and Saudi Arabia fight over a deal to bring the oil-price war to an end, Mexico has a powerful defense: a massive Wall Street hedge shielding it from low prices.With talks well into their third day, the Mexican sovereign oil hedge, which insures the Latin American country against low prices and is considered a state secret, is a factor that may make the country less inclined to accept the OPEC+ agreement.For the last two decades, Mexico has bought so-called Asian style put options from a small group of investment banks and oil companies, in what’s considered Wall Street’s largest -- and most closely guarded -- annual oil deal.The options give Mexico the right to sell its oil at a predetermined price. They are the equivalent of an insurance policy: the country banks all gains from higher prices but enjoys the security of a minimum floor. So if...
(Bloomberg) -- The U.S. became the world’s deadliest hotspot for the coronavirus as New York reported 783 daily fatalities. New York City’s mayor canceled classes this academic year in the nation’s biggest school system, but State Governor Andrew Cuomo said it’s not his call to make.Spain and Germany reported the fewest new deaths in more than a week, as leaders of Europe’s biggest economies extended lockdowns. Italy reported the highest number of new cases in a week.U.S. governors seek $500 billion in federal aid to offset the economic hit from social distancing measures.Key DevelopmentsCoronavirus Tracker: Global cases exceed 1.7 million; deaths top 104,000New York City schools closed for rest of academic year: De BlasioU.K. reports 917 new deaths, total rises to 9,875Spain has fewest fatalities since March 23Report indicates progress toward vaccineApple, Google plan contact-tracing phone appItaly’s New Cases Highest in Week (12:05 p.m. NY)Italy reported its highest number of new...
