More dismal economic data will reverse the stock market rally. The U.S. held record household debt going into the COVID-19 panic. Then disposable personal income and consumer spending crashed in March. The Dow Jones has achieved a recovery that’s been just as head-scratching as it has been robust. But more dismal economic data reveal the…
The Dow Jones struggled for a second straight day on Tuesday. Crashing oil prices continue to be a major headwind for the U.S. stock market. Oil stocks Chevron and Exxon Mobil continue to resist gravity, despite the plunge in WTI futures. The Dow Jones suffered another precipitous downturn on Tuesday, as the wild moves in…
A Google-Lyft partnership always made sense. Now that Lyft’s market cap has been slashed nearly in half, Google could be thinking about putting its massive cash pile to use. The two are already working together, and an acquisition would be a natural next step. Things are about to go from bad to worse for Lyft.…
McDonald’s sales plunged 22% in March as the COVID-19 forced it to close its dining rooms. Smaller restaurants are hit harder than the world’s largest fast-food chain. Many could close for good. The pandemic could change the restaurant industry permanently. COVID-19 is ravaging large pans of the economy. The restaurant industry is one of the…
History shows that emergency interest rate cuts precede a bear market. WHO issues new guidance regarding the mortality rate of COVID-19 (coronavirus). A new study estimates that the virus could easily halve economic growth this year. The Federal Reserve shocked market participants on Tuesday after announcing an aggressive 50-point rate cut. The move was intended…
The U.S. stock market fell again on Friday after the WHO raised its threat level on the coronavirus (COVID-19) to “very high” and flirted with “pandemic” terminology. Briefly boosting a shaky Dow Jones, Fed Chair Jerome Powell spoke this afternoon. A cataclysmic drop in Boeing shares did much of the damage to the Dow 30.…
