Car sales in the UK collapsed by 97% in April as auto companies were forced to close dealerships. Tesla Model 3 instantly became the best-selling car in the country. Elon Musk was able to keep sales going by focusing on online sales. Tesla (NASDAQ: TSLA) did something that almost no other car company could in…
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This rally can only go so far as supply concerns threaten to sink oil prices once again. Even as economies reopen, demand for oil will remain depressed. The OPEC+ cuts weren’t enough to offset weak demand. Last month when oil prices fell to the horrifying low of -$42 per barrel, investors started to worry about…
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A Dutch team may be on to a cure for the SARS coronavirus. In a report published Monday, researchers say they’ve stopped the virus from spreading in cell cultures with a potent antibody. Many lives and an economic recovery hang in the balance as scientists race for a safe, effective coronavirus treatment. Since spreading from…
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Disney just posted a harrowing earnings miss for quarter one. Its stock fell in after hours trading, along with Dow futures and ETFs. The stunning report could shell shock the Dow the rest of this week. Disney badly missed Wall Street expectations in its first quarter earnings report. That is likely to drag down Disney…
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Cinco de Mayo celebrates the Mexican victory over the French in the First Battle of Puebla in 1862. The modern-day American celebration of Cinco de Mayo has its roots in a 1980s marketing campaign. The MAGA crowd is hilariously, and awkwardly, unaware of both. On May 5, 1862, more than 6,000 French soldiers faced off…
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The Dow Jones enjoyed a triple-digit gain on Tuesday. Wall Street continues to focus on the positives as economic activity comes out of its deep freeze. But ING believes U.S. unemployment could hit 22% in May. The Dow Jones was off to the races on Tuesday as surprisingly-rosy economic data mixed with swirling optimism about…
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Opendoor decides to restart. Housing demand in the U.S. has tanked, and credit has tightened. Job losses add to the uncertainty surrounding the market. As millions of Americans continue to file for unemployment benefits due to the lockdown, the housing market has started feeling the heat. Home sales have started heading south in good measure, but…
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Everyone you know is rushing to Google to find more information about Kawasaki disease today. The New York Times reported early in the morning that 15 children had been hospitalized with the condition in NYC. Reports say coronavirus could be the cause. But the medical literature says doctors have overdiagnosed it for decades. The New…
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This year marks the ninth wedding anniversary of Prince William and Kate Middleton, the Duchess of Cambridge. While most couples would celebrate their anniversary with a meal and some “alone” time, Kate spent hers speaking with an NHS maternity ward. This says more about the royal family than most people – especially their critics –…
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In a spooky financial crisis echo, the gap between mortgage rates and Treasury bond yields is at its widest mark since 2009. Mortgage rates are low, but they should be even lower by historical standards. Here’s why the housing market will continue to recover anyway. Treasury bond yields and mortgage rates typically move in tandem,…
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