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Deforestation May Be At Root of Brazil Drought

Cracked earth is seen at the almost empty Itaim dam, which is responsible for providing water to the Itu metropolitan area in Itu, Brazil.

Deforestation May Be At Root of Brazil Drought


The cutting of trees, scientists say, is hindering the immense jungle's ability to absorb carbon from the air — and to pull enough water through tree roots to supply gigantic "sky rivers" that move more moisture than the Amazon river itself. More than two-thirds of the rain in southeastern Brazil, home to 40 percent of its population, comes from these sky rivers, studies estimate. When they dry up, drought follows, scientists believe.

It's not just Brazil but South America as a whole for which these rivers in the sky play a pivotal meteorological role, according to a recent study by a top Brazilian climate scientist, Antonio Nobre of the government's Center for Earth System Science.

  • Goldman Sachs Picks 2 Stocks to Buy (and 1 to Sell)
    Business
    TipRanks

    Goldman Sachs Picks 2 Stocks to Buy (and 1 to Sell)

    Bellini reiterates a Buy rating on WDAY, but the price target is slashed from $223 to $158 on account of “contraction in peer multiples and increased macroeconomic risk. Expect returns in the shape of 16%, should Bellini's forecast play out in the coming months. To watch Bellini's track record, click here) Looking at the consensus breakdown, 13 Buys, 6 Holds and 1 Sell coalesce into a Moderate Buy consensus rating.

  • JPMorgan Says the Market Rout Is Probably Past Its Worst Now
    Business
    Bloomberg

    JPMorgan Says the Market Rout Is Probably Past Its Worst Now

    Strategists at JPMorgan Chase & Co. have concluded that most risk assets -- a universe that typically includes stocks and credit -- have seen their low points for the recession that's gripped economies around the world. Conditions that JPMorgan had set for market stabilization and revival have largely been met, with recession-like pricing, a reversal in investor positioning and extraordinary fiscal stimulus, strategists led by John Normand wrote in a note Friday. Coronavirus infection rates remain a “wild card,” as they remain high even if they're “slowing” in the U.S. and Europe.

  • Investors shouldn't let a stock market sucker's rally fool them
    Business
    Yahoo Finance

    Investors shouldn't let a stock market sucker's rally fool them

    The sucker's rally on Wall Street is in full effect in large part because Wall Street's powerful high-speed trading computers are completely mentally detached from the harsh realities breaking out on Main Street during the coronavirus pandemic. So in short, consider fading last week's rip in equities. But oh what a rip higher it was, folks, as traders got their pounds of flesh from the Federal Reserve (unlimited QE program) and government (a $2 trillion-plus fiscal relief package).

  • Dow Jones Futures: Can Stock Market Rally As New Coronavirus Cases Fall? Amazon, AMD Lead Six Stocks To Watch
    Business
    Investor's Business Daily

    Dow Jones Futures: Can Stock Market Rally As New Coronavirus Cases Fall? Amazon, AMD Lead Six Stocks To Watch

    Investors will be looking for a follow-through day to confirm the new stock market rally. Keep an eye on Amazon.com, Atlassian, DocuSign, RingCentral, Advanced Micro Devices, which all have formed bases amid coronavirus bear market. Also watch Long-Term Leader Microsoft, which is holding support at its 200-day/40-week line.

  • Getting crushed in this market? One look at Warren Buffett’s portfolio and you might feel a lot better about yours
    Business
    MarketWatch

    Getting crushed in this market? One look at Warren Buffett’s portfolio and you might feel a lot better about yours

    Warren Buffett said earlier this month that he hadn't seen anything like the coronavirus pandemic. A couple of weeks later, and it's only gotten more dire as infections mount around the world and the stock market continues to spin out of control in both directions. “While Buffett is well known for weathering the worst market downturns and coming out stronger, the last several weeks have been just as painful on his portfolio as it has on the broader market,” Bespoke explained in a post noting that the average stock in his top holdings is off 37%.

  • These are the 20 stocks corporate insiders have been buying most amid the coronavirus-induced market selloff
    Business
    MarketWatch

    These are the 20 stocks corporate insiders have been buying most amid the coronavirus-induced market selloff

    Throughout these topsy-turvy times of scary health news, city lockdowns and daily market moves of 5% or more in both directions, there's been one comforting constant. Corporate insiders — executives and directors who buy shares in their own company — are loving this pullback. Since the S&P 500 index (SPX) Dow Jones Industrial Average (DJIA) and Nasdaq Composite Index (COMP) really began falling apart after March 5, insiders have been heavily buying all the areas that will supposedly get hit the hardest by this coronavirus and the COVID-19 illness it causes.

  • U.S. Futures Erase Losses to Turn Positive in Volatile Session
    Business
    Bloomberg

    U.S. Futures Erase Losses to Turn Positive in Volatile Session

    Contacts on the S&P 500 expiring in June were up 0.3% as of 10:40 a.m. in London. In the U.S., a top infectious disease expert said deaths from coronavirus may reach 200,000, while President Donald Trump abandoned his ambition to return American to normal life by Easter. Dramatic swings have been the rule in global markets for five weeks as investors try to price in an outbreak that has shut down economies, put millions out of work and made it all but certain corporate earnings will drop.

  • You can be ‘practically stealing’ quality stocks now, according to Jefferies
    Business
    MarketWatch

    You can be ‘practically stealing’ quality stocks now, according to Jefferies

    Investors are trying to get ahead of an eventual turnaround for the stock market, even as the coronavirus spreads further across the U.S. Analysts at Jefferies have published a list of 47 stocks that they believe have “strong fundamentals” and attractive valuations, with opportunities created by “indiscriminate selling” over the past month. The largest of the recommended companies are listed below. Warnings Before getting to the list of “best stock ideas” from Jefferies, a number of warnings are in order: • It's too early to call a stock market bottom — it's a fool's errand.

  • Dr. Fauci Says Coronavirus Deaths in U.S. Could Top 100,000
    U.S.
    Meredith Videos

    Dr. Fauci Says Coronavirus Deaths in U.S. Could Top 100,000

    The U.S. government's foremost infection disease expert says the United States could experience more than 100,000 deaths and millions of infections from the coronavirus pandemic.

  • The end of the beginning: Morning Brief
    Business
    Yahoo Finance

    The end of the beginning: Morning Brief

    The Federal Reserve has made no fewer than 18 significant announcements related to policy actions to support the economy since March 3. “The positive tone in most of our conversations with clients echoed the signal in positioning measures, including a sharp rise in hedge fund net leverage and a steep decline in put/call ratios,” said Goldman Sachs strategist David Kostin in a note to clients published Friday. Where the stock market and economy go in the months ahead, of course, will still revolve around how far, wide, and quickly the coronavirus continues its spread.

  • Man who scored big wins during the 2008 financial crisis says the stock market could be ‘near a bottom’ if U.S. gets a coronavirus recovery plan
    Business
    MarketWatch

    Man who scored big wins during the 2008 financial crisis says the stock market could be ‘near a bottom’ if U.S. gets a coronavirus recovery plan

    Hedge-fund manager David Tepper says there is nothing wrong with “nibbling” at stocks that have experienced a brutal selloff in the past month, amid growing fears centered on the economic impact of the coronavirus pandemic. However, the star fund manager and billionaire says that U.S. lawmakers and the Trump administration need to act quickly to stabilize the economy and mitigate the damage from the deadly pathogen. There's nothing wrong with nibbling here,” the founder of Appaloosa Management said during a phone interview with CNBC on Monday, referring to stocks that have fallen at an unprecedented rate, as business activity across the globe shutters in order to contain the illness, COVID-1...

  • Coronavirus: Oil price collapses to lowest level for 18 years
    Business
    BBC

    Coronavirus: Oil price collapses to lowest level for 18 years

    The price of oil has sunk to levels not seen since 2002 as demand for crude collapses amid the coronavirus pandemic. Meanwhile the price of US West Texas Intermediate (WTI) fell below $20 a barrel and close to an 18-year low. Oil prices have fallen by more than half during the past month as companies cut back or close production.

  • News
    Financial Times

    Recession pushes Hong Kong shoppers to sell their luxury goods

    Rachel, a 30-year-old flight attendant in Hong Kong, used to carry a suitcase back home packed with luxury goods that she purchased on every trip to Europe. Now her full-time job is also at risk as the coronavirus outbreak has grounded flights, and her employer — like many other airlines — has asked all staff to take unpaid leave. This leaves Rachel, who requested that her full name not be used, no choice but to sell part of her luxury collection for some quick cash.

  • If you do this now, you might be able to double your retirement portfolio
    Business
    MarketWatch

    If you do this now, you might be able to double your retirement portfolio

    The coronavirus crisis has created an extraordinary buying opportunity in emerging market stocks for anyone hoping to save for their retirement, say two independent investment houses. Buy a broad portfolio of inexpensive “value” stocks in developing markets such as China, South Korea, Russia, Brazil, India and you've got a good chance of doubling your money or better over the next five to seven years, say number crunchers at investment advisory firm Research Affiliates in Newport Beach, Calif., and at the blue chip money managers GMO in Boston. “Value” stocks are those that are inexpensive in relation to business fundamentals such as company revenues, assets and earnings.

  • Shares of a German Ventilator Manufacturer Are Soaring
    Business
    Bloomberg

    Shares of a German Ventilator Manufacturer Are Soaring

    A crushing global shortage of ventilators needed to treat coronavirus patients has sent a German smallcap stock soaring, leaving analysts scrambling to value both the shares and the company's ability to help combat the crisis. While major German indexes have lost between 17% and 30% in 2020, shares of Draegerwerk AG & Co KGaA have gained about 75%, taking off in mid-March after Germany ordered 10,000 ventilators and other medical equipment from the company. M.M. Warburg analyst Eggert Kuls estimates that each ventilator costs about 20,000 euros, making the deal worth 200 million euros ($221 million) in revenue for Draeger.

  • How Soon Will You Get Your Coronavirus Stimulus Check?
    Business
    MoneyWise

    How Soon Will You Get Your Coronavirus Stimulus Check?

    The IRS will base your payment on the most recent tax return you filed. If you haven't filed your 2019 return yet — and you now have until July 15 to do that — the tax agency will pull up your 2018 filing. If you earned too much during 2018 to receive a payment but would qualify based on last year's income, because it was lower, you'll want to file your 2019 return quickly.

  • Honolulu comes to standstill amid virus outbreak
    Business
    Associated Press Videos

    Honolulu comes to standstill amid virus outbreak

    Honolulu came to an eerie standstill this week as the coronavirus pandemic spread throughout the islands. Hawaii officials effectively flipped the switch on the state's tourism-fueled economic engine in a bid to slow the spread of the virus. (March 29)

  • Stock market news live: Stock futures fluctuate as coronavirus cases top 700,000 globally
    U.S.
    Yahoo Finance

    Stock market news live: Stock futures fluctuate as coronavirus cases top 700,000 globally

    New York remains an epicenter for the outbreak, with the number of confirmed cases jumping by about 7,200 on Sunday to 59,513, Governor Andrew Cuomo said. The state also reported its largest one-day increase in deaths Sunday, with the toll rising by 237 to 728. A day earlier, the Center for Disease Prevention and Control issued a domestic travel advisory urging New York, New Jersey and Connecticut residents to refrain from non-essential domestic travel for 14 days, in effort to prevent the coronavirus from spreading from hot spots to areas of the country where health-care infrastructure may be less capable of handling an influx in cases.

  • Passengers on ‘Death Ship’ Plead for Rescue as Virus Strikes
    U.S.
    Bloomberg

    Passengers on ‘Death Ship’ Plead for Rescue as Virus Strikes

    For passengers on a Holland America Line cruise ship, a fun-filled voyage on the luxury liner is quickly turning into a nightmare with deteriorating conditions on board and fears of a full-blown coronavirus outbreak after four travelers died and two others were infected. “We are stuck on this death ship,” said Yadira Garza, who is on board with her newly-wed husband. Passengers on the Zaandam, currently off the coast of Panama, say they are desperate to get off the liner after Chile wouldn't allow the vessel to dock.

  • More Pain Ahead for US Investors Until Coronavirus Curve Starts Flattening
    Business
    FX Empire

    More Pain Ahead for US Investors Until Coronavirus Curve Starts Flattening

    The major U.S. stock indexes recorded their best weekly performances in 11 years and posted back-to-back gains for the first time in over a month after the Federal Reserve announced open-ended asset purchases and other measures to support the flow of credit to consumer, employers and businesses. In addition to the Fed bringing out the proverbial bazooka, Congress and the White House reached a deal on an unprecedented $2.2 trillion stimulus package to offset the fallout from the coronavirus outbreak. Investors responded to the monetary and fiscal stimulus the way they have been trained the last ten years – they bought stocks.

  • Oil Plummets to 17-Year Low as Broken Market Drowns in Crude
    Business
    Bloomberg

    Oil Plummets to 17-Year Low as Broken Market Drowns in Crude

    The huge oversupply is further collapsing the oil market's structure, and there may be more weakness to come as the world quickly runs out of storage capacity. Goldman Sachs Group Inc. estimates consumption will drop by 26 million barrels a day this week, while distress signals are spreading with some Indian refiners declaring force majeure on imports. “Market participants and oil producers are now shaken to the bone over what is playing out in the oil market,” said Bjarne Schieldrop, chief commodities analyst at SEB AB.

  • What Is Alpha Pro Tech's (NYSEMKT:APT) P/E Ratio After Its Share Price Tanked?
    Business
    Simply Wall St.

    What Is Alpha Pro Tech's (NYSEMKT:APT) P/E Ratio After Its Share Price Tanked?

    Of late the Alpha Pro Tech (NYSEMKT:APT) share price has softened like an ice cream in the sun, melting a full 47%. All else being equal, a share price drop should make a stock more attractive to potential investors. In the long term, share prices tend to follow earnings per share, but in the short term prices bounce around in response to short term factors (which are not always obvious).

  • Biomerica, Inc.'s (NASDAQ:BMRA) Path To Profitability
    Business
    Simply Wall St.

    Biomerica, Inc.'s (NASDAQ:BMRA) Path To Profitability

    Biomerica, Inc.'s (NASDAQ:BMRA): Biomerica, Inc., together with its subsidiaries, develops, manufactures, and markets medical diagnostic products for the early detection and monitoring of chronic diseases and medical conditions. The most pressing concern for investors is BMRA's path to profitability – when will it breakeven? Consensus from the 2 Medical Equipment analysts is BMRA is on the verge of breakeven.

  • The Fed is going to buy ETFs. What does it mean?
    Business
    MarketWatch

    The Fed is going to buy ETFs. What does it mean?

    The Federal Reserve on Monday announced a fresh round of stimulus designed to calm markets and buffer the hit to the economy from the coronavirus pandemic. Among other steps, the Fed said it would buy exchange-traded funds that track the corporate bond market, a first for the U.S. central bank. “This will provide much-needed liquidity to the bond market and to ETFs,” said Todd Rosenbluth, head of ETF and mutual fund research at CFRA.

  • Is Gold Mirroring 1999 to 2011 Again?
    Business
    FX Empire

    Is Gold Mirroring 1999 to 2011 Again?

    Our research team continues to dig into underlying patterns and set up in the global markets to assist skilled technical traders in understanding the current Covid-19 virus event and other key technical data. Recently, we've authored a number of detailed research articles that we believe helped prepare traders for the events of the past 30 to 90+ days. Today, we are writing about a pattern our research team is seeing in the Gold/Silver ratio which is correlated to the price movement of Gold.