Lawrence Gash

American economy suffers fastest contraction since 2008

Apr 30 2020 @ 09:52
U.S. economy shrinks by 4.8 per cent in first quarter The American economy has suffered its worst contraction in over a decade as a result of the ongoing Covid-19 crisis. A January survey by Deloitte found that 97 per cent of American CFOs thought an economic slowdown had either already begun or would start sometime […]
 

Dow opens up on Gilead Covid-19 drug hopes

Apr 30 2020 @ 09:49
Analysts predict FDA acceleration of remdesivir approval The trials and tribulations of the remdesivir coronavirus drug trials by Gilead Sciences (GILD) have affected market sentiment for the past month. Wednesday was no different with the Dow Jones Industrial Average (DJIA) opening up 1.76 per cent on the latest positive trial data. Gilead signalled that positive […]
 

Airbus reports Q1 profit slump of 49 per cent

Apr 30 2020 @ 09:46
Airbus (AIR) has become the latest major manufacturer to lay bare the scale of the economic devastation wrought by the ongoing Covid-19 crisis. Although the pandemic began to affect European economies significantly only in March, Airbus still saw its operating profit for the first quarter of 2020 drop by 49 per cent to €281m ($304m, £246m). Even […]
 

Bitcoin experiences longest winning run since August 2019

Apr 29 2020 @ 10:47
Bulls eye $8k barrier Bitcoin (BTC) is experiencing its longest winning streak since August 2019 as it closes in on the $8k barrier. In late-afternoon Tuesday trading the world’s first and largest cryptocurrency stands at $7,738.40, up around 0.94 per cent in the past 24 hours. With May’s halving soon approaching, Bitcoin trading volume has […]
 

Russian energy minister calls for shift in OPEC+ focus

Apr 29 2020 @ 10:46
Alexander Novak argues consortium should concentrate on its market share when oil demand recovers Russia’s energy minister, Alexander Novak, has called for the Organisation of the Petroleum Exporting Countries (OPEC) and its allies to concentrate on their market share as demand for oil slowly picks up. Novak said: “Stocks, supply and demand balance should be […]
 

Goldman voices concern over ‘narrow breadth' of S&P winners during Coid-19

Apr 29 2020 @ 10:43
One of America’s leading investment banks has expressed its concern that the gains currently fuelling the S&P 500’s recovery from the Covid-19 panic are too narrowly spread. In his Weekly Kickstart note, Goldman Sachs (GS) analyst David Kostin observed: This is by no means the first expression of investor ambivalence about the tight dominance...
 

‘Bond King’ billionaire shorts S&P, saying new low is possible

Apr 28 2020 @ 10:08
Jeffrey Gundlach, CEO of DoubleLine: “We are not out of the woods” Jeffrey Gundlach, dubbed the “Bond King”, has doubted the strength of the fledgling recovery in the US stock market after Covid-19 market sell-off in March. Speaking to CNBC, the billionaire CEO of DoubleLine stated: “I’m certainly in the camp that we are not […]
 

Boeing CEO says air travel will take years to recover

Apr 28 2020 @ 10:07
Ahead of the company’s first-quarter results, Calhoun foresees a smaller commercial market after the coronavirus disruption Dave Calhoun, the CEO of Boeing (BA), has told shareholders that demand for air travel will not recover to 2019 levels for two to three years. Airlines and aircraft manufacturers have been among the sectors worst affected by the Covid-19 pandemic. […]
 

Founder of the Silk Road eyes $7 quadrillion Bitcoin market cap

Apr 27 2020 @ 11:26
‘The sky is the limit’ according to the incarcerated Ross Ulbricht In recent years Bitcoin (BTC) and the wider cryptocurrency scene has become more and more assimilated into the financial mainstream. With this growing respectability, institutional investors have increased their exposure to the world of digital assets and leading exchanges have sought to offer crypto […]
 

Bond Investors Rush to Netflix

Apr 27 2020 @ 06:14
After reporting a record rise in subscriptions as a result of the Covid-19 pandemic, Netflix has seen its latest $1bn (£810m, €930m) bond offering significantly oversubscribed by investors. One of the best performing stocks of the past decade, Netflix has grown from a DVD delivery service to a multi-billion dollar streaming and production behemoth. With hundreds of […]
 
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