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The Latest: Bank says virus could cost world $4.1 trillion
The Latest: Bank says virus could cost world $4.1 trillion
| April 3rd | 2020  1:45AM
The Latest: Bank says virus could cost world $4.1 trillion
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — Asian Development Bank forecasts pandemic will cost world economy as much…
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Virus deaths, unemployment accelerating across Europe, US
Virus deaths, unemployment accelerating across Europe, US
| April 3rd | 2020  1:41AM
Virus deaths, unemployment accelerating across Europe, US
NEW YORK (AP) — Coronavirus deaths mounted with alarming speed in Spain, Italy and New York, the most lethal hot spot in the United States, while the outbreak has thrown 10 million Americans out of work in just two weeks and by Friday had sickened more than a million people around the globe. The public health crisis deepened in New York…
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The Latest: South Korea says over 27,000 self-quarantined
Industrial products and services news icon
| April 3rd | 2020  12:03AM
The Latest: South Korea says over 27,000 self-quarantined
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — South Korea says more than 27,000 people are under self-quarantine …
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Jobs report Friday is expected to end record hiring streak
Jobs report Friday is expected to end record hiring streak
| April 3rd | 2020  12:01AM
Jobs report Friday is expected to end record hiring streak
WASHINGTON (AP) — After a record 113 straight months of hiring, the government's monthly jobs report Friday is expected to show that the American jobs machine came to a sudden halt in March as a result of the coronavirus. Economists have forecast that the government will say employers shed about 150,000 jobs and that the unemployment rate rose from a half-century low of 3.5% to 3.9%, according to FactSet.
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Bank expect deluge of desperate businesses seeking loans
Bank expect deluge of desperate businesses seeking loans
| April 3rd | 2020  12:01AM
Bank expect deluge of desperate businesses seeking loans
NEW YORK (AP) — Millions of small businesses are expected to apply for a desperately needed rescue loan Friday, a stern test for a banking industry that has had less than a week to prepare for the deluge. Small businesses will be seeking loans from the $349 billion Paycheck Protection Program, which was put in place to help them retain workers and pay bills during the coronavirus pandemic.
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Asian stocks mixed after Wall Street rises on pricier oil
Asian stocks mixed after Wall Street rises on pricier oil
| April 2nd | 2020  11:53PM
Asian stocks mixed after Wall Street rises on pricier oil
BEIJING (AP) — Asian stocks were mixed Friday after Wall Street gained for the first time in three days on stronger oil prices despite enduring uncertainty about how long the global economic decline due to the coronavirus pandemic will last. Tokyo and Seoul rose while Shanghai, Hong Kong and Sydney retreated. Oil prices gave up some of the previous day's gains. U.S.
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'We need help': Economic, health crises grow as cases top 1M
'We need help': Economic, health crises grow as cases top 1M
| April 2nd | 2020  11:04PM
'We need help': Economic, health crises grow as cases top 1M
NEW YORK (AP) — The coronavirus outbreak has thrown 10 million Americans out of work in just two weeks in the swiftest, most stunning collapse the U.S. job market has ever witnessed, and the public health crisis deepened in New York City, where a funeral home in a hard-hit neighborhood had 185 bodies stacked up Thursday — more than triple normal capacity.
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The Latest: South Korea has 86 new cases, total over 10,000
Industrial products and services news icon
| April 2nd | 2020  10:41PM
The Latest: South Korea has 86 new cases, total over 10,000
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — South Korea reports 86 new cases of coronavirus, bringing total above 10,000. …
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The Latest: North Korea says only 500 still quarantined
Industrial products and services news icon
| April 2nd | 2020  10:02PM
The Latest: North Korea says only 500 still quarantined
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — North Korea says only around 500 remain under coronavirus quarantine. …
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The Latest: Washington extends stay-at-home through May 4
Industrial products and services news icon
| April 2nd | 2020  8:55PM
The Latest: Washington extends stay-at-home through May 4
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — Washington extends orders to keep non-essential business closed, citizens home through May 4. — U.N.
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The Latest: UN approves resolution recognizing virus effects
Legislature news icon
| April 2nd | 2020  8:05PM
The Latest: UN approves resolution recognizing virus effects
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — U.N. General Assembly unanimously approves resolution recognizing “unprecedented…
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Tesla's 1Q car sales surged before pandemic shut things down
Tesla's 1Q car sales surged before pandemic shut things down
| April 2nd | 2020  7:51PM
Tesla's 1Q car sales surged before pandemic shut things down
BERKELEY, Calif. (AP) — Tesla's sales of its increasingly popular electric cars got off to fast start this year, even though the company had to slam the brakes along with other major automakers last month because of worldwide efforts to contain the worst pandemic in a century. The Palo Alto, California, company delivered 88,400 vehicles during the first three months of the year, based on preliminary numbers released Thursday.
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Outbreak: bankruptcies, layoffs, quiet skies and empty rails
Outbreak: bankruptcies, layoffs, quiet skies and empty rails
| April 2nd | 2020  7:48PM
Outbreak: bankruptcies, layoffs, quiet skies and empty rails
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Thursday related to the global economy, the work place and the spread of the virus. ____________ ZOOM: At the end of last year, the video-conferencing company Zoom had about 10 million daily users.
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The Latest: White House says not enough following guidelines
Industrial products and services news icon
| April 2nd | 2020  7:36PM
The Latest: White House says not enough following guidelines
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — White House task force warns Americans aren't doing enough to stop virus…
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Economic fallout mounts, worldwide cases top 1 million
Economic fallout mounts, worldwide cases top 1 million
| April 2nd | 2020  7:20PM
Economic fallout mounts, worldwide cases top 1 million
NEW YORK (AP) — The coronavirus outbreak has thrown 10 million Americans out of work in just two weeks, the swiftest, most stunning collapse the U.S. job market has ever witnessed, and economists warn unemployment could reach levels not seen since the Depression, as the economic damage piles up around the world. The bleak news Thursday…
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Planet Fitness (PLNT) Reaching Buy Levels
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| April 2nd | 2020  1:00AM
Planet Fitness (PLNT) Reaching Buy Levels
Fitness center operator Planet Fitness (NASDAQ: PLNT)  shares reached all-time highs at $88.77 on Feb. 19, 2020, just before global financial markets got blindsided by the coronavirus black swan. The S&P 500 (NYSEARCA: SPY)collapsed (-35%) in just under a month underscoring the fastest transition to a  bear market in history. Planet Fitness…
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Wendy's Flips to A Buy
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| April 2nd | 2020  1:00AM
Wendy's Flips to A Buy
In 2007, after a decade-long 600% rally, shares of Wendy’s (NASDAQ: WEN) began a fast and furious 90% selloff. In less than two years, they were back trading at 1992 levels and things were looking grim for the queen of the square burger. They were able to steady the ship however and in early 2013 they again started off on a 500% run that lasted…
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The Bottom Is In For Utility Stocks
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| April 2nd | 2020  1:00AM
The Bottom Is In For Utility Stocks
Utility Was Not Immune To Viral Selling One of the things that made this correction so scary was that traditional safe-haven assets were not immune. While the S&P 500 (SPY) sank upwards of 30% stocks in the real estate, consumer staples, and utility sectors fell right along with it. Why did the market sell-off? Because of the impact of the coronavirus on the economy.
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Macy's (M) In Peril: Will the S&P 500 See Retailers, Energy Stocks Dumped?
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| April 2nd | 2020  1:00AM
Macy's (M) In Peril: Will the S&P 500 See Retailers, Energy Stocks Dumped?
It's been a terrible few months for Macy's (NYSE: M). Sure, the stock had a decent holiday turnout, and things were looking reasonably bright going into one of the normally slowest shopping periods of the year, the post-Christmas slump. But along came a little homewrecker known as COVID-19, and that sent things spiraling out of control all over. Retail stocks especially took it on the chin, and Macy's was no exception.
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