Saturday Deliveries

Stock Market

Too Late—Good News On COVID-19 Drug Isn’t Reversing Financial Market Damage

A potential cure for the coronavirus is looking promising as a new Gilead drug cured all 125 people from serious COVID-19 conditions within 5 days. And that good news may have contributed to the stock market popping on Friday up 3-5 percent. However, the financial market damage has already been done. Early data recently published suggests the Banking and Finance sector may continue to get crushed under… 

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Oil Industry

Parsley Energy CEO: Low Oil Prices is “a Train Wreck at Full Speed”

Oil prices fell below $19 a barrel on Friday in response to China’s report its economy shrank by 6.8% in the first quarter, which is another factor why the demand for global crude worldwide has dropped to extremely low levels. Parsley Energy CEO Matt Gallagher compared the recent drop in crude to “a train wreck in full speed” and called it an “unprecedented slide.” Gallagher says OPEC’s decision to cut supply by 9.7 million barrels a day was a good first step, although its simply not enough and time for the U.S. to…

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Stock Market

Strategist Predicts Dow 40,000 But Prefaces Prediction with Warning

Yes, the stock market is up nearly 30% from its March 23 low. But one strategist says that is not a definite sign of heading straight up to new highs. Paul Schatz, President of Heritage Capital, told Yahoo Finance this: ““While I think this rally is very impressive and it has a lot of thrust that you’d normally see at the beginning of new runs, I don't think the all clear has been sounded in the market and we're going back to new highs right now.” Schatz is not expecting a V-shaped economic recovery like some experts are hoping to see, and so he expects more volatility in the near-term. And his prediction for next year is bullish.

SEE HIS 2021 STOCK MARKET PREDICTION →

Retirement Planning

Retirement Expert Says ‘4% rule’ No Longer Safe Withdrawal Rate

Alexander Koury, a certified financial planner at ValuesQuest, a financial consulting firm, recently said, “The 4% rule is no longer a safe withdrawal rate, and retirees may need to save more money or readjust their income projections.”

HERE’S WHY →

Amazon Stays Bullish While Everyone Else Goes Bearish

The coronavirus pandemic isn’t affecting the Amazon corporation—they just hired more than 100,000 people over the past month and plan to hire another 75,000. It’s stock is rising as well—already up 28% this year, hitting an all-time high this past week. Amazon is growing and growing

HERE’S WHY →

Money

White House Feeling Confident PPP Funding Deal Will Happen Next Week

So far, lawmakers have been unable to come to an agreement that will replenish funding for the Small Business Administration’s Paycheck Protection Program, a fund that provides relief to small businesses. However, the White House is confident a deal will be reached early next week.

HERE’S WHY →

Coronavirus Economy Hurts Millions of Homeowners as Financial Pain Puts Them in Forbearance

Many Americans have paused mortgage payments as they deal with the financial challenges inflicted by the COVID-19 pandemic. There is a relief measure that many Americans are taking advantage of that allows them to put off paying their mortgages. Forbearance is when a lender allows a mortgage holder to pause, or temporarily reduce, payments with the expectation that…

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Labor Market

Walmart Wants to Hire 50,000 More Employees as Demand Grows

On Friday Walmart said it met its hiring goal of 150,000 employees about six weeks ahead of schedule. But as demand for their service hasn’t gone down but instead is sustaining at high levels, the company now plans to hire another 50,000 workers.

HERE’S HOW WALMART IS ACCELERATING HIRING →

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