Select, early-stage companies, hand-picked by TechCrunch editors, will take the stage and have 5 minutes to present their wares.
The optimism that permeated equity markets last week when U.S. stocks posted their biggest gains since the 1930s has once again given way to a feeling of despair, with the S&P 500 Index falling 6% over the course of two days. Yes, moves by fiscal and monetary authorities have shored up the all-important “plumbing” of the financial markets, but that is looking more and more like an act of triage than a catalyst to recovery. No one at this point in the pandemic crisis can confidently say how deep and long-lasting the coming recession will be, and that's keeping markets stuck in their own form of purgatory.
Boeing Co (NYSE: BA) shares traded lower by another 11.8% on Wednesday as the stock market experienced yet another volatile trading session. At 9:30 a.m., a trader bought 1,465 Boeing call options with a $170 strike price expiring on Sept. 18 near the ask price at $21. At 1:01 p.m., a trader bought 509 Boeing put options with a $100 strike price expiring on April 17 near the ask price at $4.651.
Dow Jones futures rose late Wednesday, along with S&P 500 futures and Nasdaq futures. The Dow Jones and other major indexes tumbled Wednesday as new coronavirus cases in the U.S. and worldwide hit record highs yet again. A stock market rally attempt continues, but for now it's still a coronavirus bear market.
The world's biggest importer is taking advantage of a 60% plunge this year to snatch up cheaper barrels for its stockpiles, a source of considerable speculation in the oil market because of the government's reluctance to release information about their formation, size or use. Beijing has asked government agencies to quickly coordinate filling tanks, the people said, asking not to be identified because the matter is confidential. The initial target is to hold government stockpiles equivalent to 90 days of net imports, which could eventually be expanded to as much as 180 days when including commercial reserves.
Satori Fund Founder & Portfolio Manager Dan Niles joins Yahoo Finance's Zack Guzman and Brian Cheung to discuss his outlook for 2020, after calling the coronavirus market collapse.
China said the U.S. was trying to shift the blame for its own outbreak after American intelligence officials concluded Beijing concealed infections. Earlier, a county in central China was locked down again after a flare-up in cases, pointing to the difficulty of sustained containment. There are signs that the worst may soon be over in Italy, but deaths in New York and New Jersey doubled in three days and the mayor of Los Angeles asked the whole city to wear masks outside.
On the face of it, the idea of Saudi Arabia and Russia starting an oil price war in the middle of a global pandemic is as dumb as it gets. From a game theory perspective, it is a masterstroke. Analysts have called the breakdown of Opec+ and the lifting of the supply cuts that kept the oil market balanced in the last two years anything from a spectacular blunder to collective suicide.
The centrepiece of the financing is a $4bn offering of five-year senior secured bonds priced at just under par with an annual coupon of 11.5 per cent. That juicy implied return attracted enough investors for Carnival to increase the offering from a mooted $3bn. Carnival's physical assets — its fleet — are valued on its balance sheet at nearly $40bn. Carnival business has ceased to exist in the short term.
Charts Please click here for an annotated chart of the Dow Jones Industrial Average ETF (DIA) which represents popular stock market index the Dow Jones Industrial Average (DJIA) Please click here for a chart of S&P 500 ETF (SPY) which tracks the S&P 500 Index (SPX) Note the following: • The first chart, which is monthly, gives investors a long-term perspective. The second chart, which is daily, gives a short-term perspective. The first chart shows what I call the mother of support zones for the stock market.
U.S. equity futures rose on Thursday and European stocks edged up as investors caught their breath following a rough start to the second quarter for risk assets. Oil surged after China unveiled plans to boost its reserves. Futures on the main U.S. equity benchmarks all climbed in the wake of another session of steep declines.
The U.S. death toll from the coronavirus that causes COVID-19 rose above 4,000 on Wednesday and financial markets sold off again, after President Donald Trump warned Americans to brace for two painful weeks as the numbers continue to climb. The White House revealed models that suggest the number of deaths could rise to 100,000 to 240,000 deaths, even if current containment measures are observed. Dr. Deborah Birx, the coordinator of the White House coronavirus task force, said those numbers could be greatly reduced if everyone does their part: “We really believe we can do a lot better than that,” Birx said.
The current rebound in markets may continue for a while following a bout of extreme pessimism, but another rout is imminent, according to the chairman of Rogers Holdings Inc. That's because of a triple whammy of coronavirus-fulled economic damage, high debt levels and interest rates that are low, which will hurt when they rise. “I expect in the next couple of years we're going to have the worst bear market in my lifetime,” Rogers said in a phone interview. Rogers, who co-founded the Quantum Fund with George Soros in the 1970s, had said a bear market was imminent back in 2018.
Asian refiners have called on Saudi Arabia to slash the official selling prices (OSP) of its crude for a third straight month in May, after Middle East benchmarks and refining margins dropped amid ample supplies and lower demand due to the coronavirus. Last month, the world's top exporter Saudi Arabia surprised everyone by slashing prices for April, after OPEC's supply-cut pact with Russia fell apart, sparking a battle for market share and sending oil prices to 18-year lows. Markets globally are now flooded with cheap oil with storage spaces filling up fast, while refiners cut output or shut plants following coronavirus lockdowns.
During an interview with CNBC Wednesday, Federal Housing Finance Agency Director Mark Calabria warned that the U.S. mortgage industry could face significant strain in the form of delinquencies and foreclosures if the coronavirus emergency lasts for six months or longer. This fundamentally comes down to how long an event this is,” Calabria said. If this only goes on for two to three months and we see pop back in the economy and people are hired back to their old jobs by and large, then I think this will be something the industry can get through without too much stress,” he added.
Looking at the data, we can see that 50% of Swedbank's profits were paid out as dividends in the last 12 months. This is a middling range that strikes a nice balance between paying dividends to shareholders, and retaining enough earnings to invest in future growth. Besides, if reinvestment opportunities dry up, the company has room to increase the dividend.
Emily Roland, John Hancock Investment Management Co-Chief Investment Strategist, addresses how U.S. markets have their worst quarter since the 2008 recession and how long it could take for a recovery. Roland joins Yahoo Finance's On The Move to discuss.
General Electric Co. (GE) has finalized the $21.4 billion sale of its biopharma business to Danaher Corp. DHR). The sale to Danaher Corp gives GE net proceeds of $20 billion, after accounting for taxes, fees and factored receivable balances, GE said in a statement.
In 2008, amid the last recession, and again in 2010, Buffett signed off both his annual letters to shareholders saying that he and Charlie Munger — his longtime business partner and the 96-year-old vice chairman of Berkshire — were “lucky beyond our dreams” in part for being born in the U.S. Berkshire's own investments are like a cross-section of the U.S. economy, with large stakes in airlines, banks, grocery stores and makers of consumer goods — even tech giants Amazon.com Inc. and Apple Inc. About $70 billion of value has been erased from its stock portfolio since mid-February (though we don't yet know what Buffett bought and sold during the first quarter).
Russian President Vladimir Putin called on Wednesday for global oil producers and consumers to address "challenging" oil markets while U.S. President Donald Trump complained that oil cheaper "than water" was hurting the industry. Oil prices fell nearly 70% from January highs as lockdowns due to the coronavirus hammered demand and as Saudi Arabia and Russia have flooded the market in a race for market share after a deal they engineered on supply curbs broke down. Oil and natural gas sales are a key revenue source for the Russian coffers, while shale oil producers in the United States are also suffering from cheap oil.
The precious metals market has been providing us with myriads of signs recently. What if we told you that the final bottom for the precious metals sector (but not for the stock market) could be seen as early as… next week? The first reason is the rising support line that's based on the previous closing prices.
Shopify's withdrawal of FY20 guidance suggests that near-term visibility is low, similar to other Internet stocks in our coverage” comments RBC Capital analyst Mark Mahaney. Nonetheless, he has retained his buy rating on the stock. Long-term, however, we believe that Shopify will be a beneficiary as we expect this COVID disruption to lead to a sustained pickup in online shopping activity, with Shopify a major beneficiary” the analyst explains.
A filing has revealed that beleaguered airline American Airlines (AAL) has now accessed a total of $2.73 billion from three revolving credit facilities in order to cope with the coronavirus fallout. At the same time, Stifel Nicolaus analyst Joseph DeNardi downgraded his rating on AAL stock from Hold to Sell. Shares have plunged 63% year-to-date, with a 31% drop in just the last five days, and DeNardi believes the outlook for AAL is particularly worrying.
April 1 has arrived, and with it a big question for real-estate investors: Who will be able to make rent or mortgage payments this month? That matters for investors in real-estate investment trusts, publicly traded vehicles that distribute most of their cash as dividends. The S&P 500 real-estate sector has dropped 8.8% on Wednesday, far worse than the S&P 500's 4.2% decline and the Dow Jones Industrial Average's 3.8% fall.
With Detroit's Big Three automakers and Elon Musk's Tesla making ventilators to support the coronavirus pandemic relief effort, no doubt the shift to electronic and autonomous cars has suffered a major setback. For one, electric and hybrid cars aren't being made right now as plants are shut down to support social distancing. Meanwhile, automakers have temporarily halted investments in the technology designed to power the cars of the future (not to mention a good chunk of their advertising for them).