Navistar, Inc. is recalling approximately 13,570 International LT and International HX vehicles due to a potential poor electrical connection in the brake lights. ...
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 […]...
JPMorgan’s Global Quantitative and Derivatives Strategy team, led by Marko Kolanovic, has been crunching the numbers on the coronavirus pandemic, and found that the forecasts can vary wildly, with predicted economic declines ranging from 20% to 70%, depending on which data the analyst chooses to start with.There are simply too many variables right now. No one truly knows if the economic shutdown will last a few more weeks, or months, or even longer – and guessing the date that business gets back in the saddle determines the depth of the current losses. Kolanovic points out that the only certain data, gleaned from hospital records, tends lag events by up to 5 days. The hospital data points to the COVID-19 epidemic taking hold in the US during the first week in March, while differential regional effects can be traced to whether local officials over- or underreacted to the crisis. The JPMorgan report...
Frances Donald, Manulife Investment Management Chief Economist & Head of Macro Strategy, joins Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Heidi Chung to discuss the market action amid the coronavirus pandemic....
Oil prices continued to fall on Monday, reaching an 18-year low as Saudi Arabia and Russia failed to agree on the scale of production and the coronavirus pandemic continued to depress demand. Analyst: Oil Market Needs Rebalancing "The global oil surplus is increasing fast and refineries are rapidly shutting down because they either lose money for every barrel they process, or they have nowhere to put their oil products," Bjarne Schieldrop, the chief commodities analyst at SEB, said in a statement. More and more on-shore oil producers are facing prices of zero to $10 per barrel or even negative prices, the analyst said. "Damage today implies less production tomorrow once we have put COVID-19 behind us and the world is brimming with fiscal and monetary stimulus." The oil market needs rebalancing, Schieldrop said, adding that the magnitude of the surplus is still rising, inventories are rising even faster and oil prices...
Collapsing oil prices are costing some OPEC members not only lost revenue when they most need it to tackle the coronavirus crisis, but also market share they may never recoup. OPEC producers such as Nigeria, Angola, Algeria and Venezuela cannot compete with the lower costs of erstwhile allies Saudi Arabia and Russia, who are flooding the market. The Republic of Congo's oil minister wrote to OPEC secretary general Mohammad Barkindo this month asking for urgent talks to help to keep some members from sliding into recession....
Art Hogan, Chief Market Strategist at National, joins yahoo Finance’s Editor-in-Chief Andy Serwer, Alexis Christoforous, Brian Sozzi and Jared Blikre to discuss the latest market action....
